Ripple (XRP) Price Stands Out Among The Best Cryptocurrencies To Invest

2 years ago · Updated 2 years ago

✍️ 26 September, 2022 - 16:41 👤 Editor: Jakub Motyka

Ripple (XRP) has seen an increase of over 33% over the past week.
Hoping for a positive outcome in the case against the SEC, investors are optimistic. The final decision will be made in mid-December.

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Ripple (XRP) has experienced a significant growth of 33% in the last week, thus becoming an excellent option to invest according to experts. This corresponds to 41% in the last month, while the rest of the crypto market makes a great effort to maintain itself. According to data from CoinMarketCap, Ripple's token, XRP, is in the range of USD 0.46. This indicates that it has undergone a crucial ascent over the weekend. Why all this?

The rebound in the price of XRP is due to the rumor of the possible victory of Ripple's lawsuit against the Securities and Exchange Commission (SEC) of the United States. According to James K. Filan, the defense attorney, Ripple Labs filed a motion for summary judgment. Thus, it would ask a court to make a final decision based on the facts provided, without the need to order a new trial.

What Is The Ripple And SEC Case About?

In mid-December 2020, the United States Securities and Exchange Commission filed a lawsuit against Ripple and part of its board. Within it they classified XRP as an unregistered security. The accusation against Ripple and its executives says that they raised more than USD 1.3 thousand million dollars through a “continuous supply of unregistered digital securities.”

Ripple assured that XRP's profits came from the market forces of supply and demand, and that since there is no investment contract, it cannot be classified as a security. Due to this, they have requested a summary trial to put an end to this trial. At present, it has become one of the longest and emblematic cases of the world of cryptocurrencies.

XRP Advances To New Support, Is It Wise To Invest?

XRP is in the midst of an uptrend due to strong fundamentals on its win against the SEC. As we have mentioned, this has generated many users to be interested in investing in Ripple.

Currently, it stands above a key resistance at $0.43, and if it holds, the next move will be $0.49. However, many analysts believe that this is a “rumor buying” frenzy and the correction could come at any time. In such a case, XRP could drop back to the $0.38 range.

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