Whale investment inflow in the XRP coin surged because of Ripple supportive speculations, as no news came regarding the XRP lawsuit.
XRP is a popular Proof-of-stake (PoS) cryptocurrency which runs on Ripple Labs created blockchain network XRP Ledger (XRPL). Ripple uses XRP coin in the cross border payment services. Since Dec 2020, Ripple has been in a big legal conflict with America’s top financial regulatory body the Securities and Exchange Commission (SEC) over the nature & business of Ripple in link with XRP coin.
The current trade price of XRP coin is $0.61. In the last 24 hours, the trade price of this cryptocurrency surged rapidly.
This sudden increment in the trade price graph of this cryptocurrency occurred because of no update in the XRP lawsuit.
This week no news or update came from the Ripple vs SEC legal battle and people speculated that Ripple is standing in a good position, as the court judge ruled that the XRP coin was not a security token.
Some speculations claim that the case is almost over and soon the SEC body will declare its settlement decision with Ripple.
It is a truth that the case is almost over but here we need to understand that there are still huge things and court judges are doing their best to give the judgment with full transparency.
In this case, the most important thing around which the legal fight is pivoting is the sales of $1.3 billion worth of XRP tokens by Ripple executives. On this matter, Ripple executives are getting favor from the court judges and it is expected that executives will win in the final phase.
According to some law experts, the SEC body is already planned to appeal against the court ruling, however, the last appeal by the SEC was rejected by the court judges.
On the other hand, Ripple representatives are ready to fight against every kind of challenge and mentally ready to fight against the SEC body at upto to the Supreme Court level.