As the SEC ripple saga nears its climax, XRP is making a strong comeback.
XRP was trading at a maximum price of $ 0.50 when the SEC filed a lawsuit against its parent company Ripple. The lawsuit hit XRP quite brutally, losing more than half of its value within the first week of filing the lawsuit.
The prospects looked pretty dirty. In the weeks that followed, almost all top-tier crypto exchanges had either stopped XRP trading or removed it from their platforms. At this point, XRP was rapidly disappearing.
Even in such a dark scenario, if they did not support XRP, there were people who would criticize the SEC for the poorly prepared lawsuit, some even questioning their intentions.
In the meantime, Ripple and its CEO Brad Garlinghouse continued to struggle hard. Ripple even filled a petition with the White House that came to no conclusion.
But now that the case is fast approaching its climax, XRP is making a strong comeback. Just today, XRP exceeded the price level of $ 0.70. Previously, on February 1, XRP had exceeded the price level of $ 0.70 when it hit $ 0.75. It should be noted that the spike that XRP saw on February 1st was quite unnatural. This was the result of the coordinated buying efforts of “Buy & Hold XRP”.
As a result, after the disadvantage; Not only has XRP fully recovered from the SEC lawsuit, it has made significant gains. When the SEC filed the lawsuit against Ripple, XRP was trading at a maximum price of $ 0.50. and now, at press time, it is trading at a price level of $ 0.70. This corresponds to a net growth of over 15%.
If the XRP continues to trade at the $ 0.70 price level for the next few days, it could result in an uptrend in the XRP.
Although the lawsuit is still pending, the outlook for XRP is good.