As things are finally moving in the right direction for Ripple, their effect on XRP is quite positive.
Just today, after the trial, Ripple CEO Brad Garlinghouse tweeted:: “Today was a good day”. Which explains the direction the lawsuit is headed.
Today was a good day.
– Brad Garlinghouse (@bgarlinghouse) April 6, 2021
Ripple Granted Discovery
Previously, on April 6, Ripple received great relief from the court when Judge Sara Netburn granted Ripple the discovery. This means that Ripple can now get hands-on with the SEC’s internal documents about the cryptocurrencies. Its meaning is: If Ripple were able to receive documents, emails, or other communications that determine the actual position of the SEC on the nature of XRP, as Ripple’s legal advisor said, it could be “a game for.” the federal authority ”.
Because Ripple believes that the SEC believes that the XRP is related to BTC and Eth (a crypto coin) and if they could prove that the SEC wouldn’t even remain part of the lawsuit they like the SEC in court filled in has nothing to do with crypto, it is out of its reach.
XRP benefits from the situation
The position we are currently in with regards to the Ripple SEC saga clearly supports XRP. XRP hit its 3-year high just yesterday when it topped $ 1.10. If we were to use the late December price level as a determinant, it would show that it has grown by roughly 60% after recovering from the slump that XRP went through. Back in December, it was trading at a high of $ 0.50 and now it is trading at a high of $ 0.80.
Additionally, it should be noted that a handful of the giant crypto exchanges are not currently trading XRP and there are rumors in the market that they plan to resume it in the near future. That will almost certainly make XRP bullish.