XRP coin strongly trading despite SEC’s lawsuit against crypto firms, Here is why?
The trade price of XRP coin is still standing strong in the crypto sector, while the majority of the crypto assets plunged badly over the last week.
This week, the United States Securities Exchange Commission (SEC) sued Binance, BinanceUS, Binance CEO CZ, and American public crypto exchange Coinbase. Because of the SEC’s regulatory action, the crypto market saw a net outflow of funds. The majority of the crypto assets, including Bitcoin & Ethereum, plunged by 5% to 10%.
Even in the present time, panic is still wandering in the market & people are not confident with their investment, even in flagship crypto assets.
The current Greed & Fear index is 50 & showing that crypto Investors are neither bullish nor negative with their investment in Bitcoin.
Amid these legal stress & panic waves among crypto investors, XRP coin is strongly trading with full bullish sentiments.
The current trade price of XRP coin is $0.5378 & this trade price is 4.33% high over the last 7 days of trade price.
In the XRP price graph, we can see that the XRP coin saw a significant downfall on 5 & 6 June because of the SEC’s back-to-back lawsuit actions against BinanceUS & Coinbase exchange.
This research is showing that crypto Investors are optimistic about their investment in XRP coin, as the Ripple (XRP) vs SEC case is nearing its end & Ripple is standing in a better position against the SEC’s charges.
Last month, the court judge rejected SEC’s motion, which seeks to keep Hinman’s documents private. In the latest court order, the SEC received an order to present the Hinman document in the XRP lawsuit case.
Few crypto legal experts noted that the SEC body is trying to bring another turn in the XRP lawsuit & there are huge chances that the SEC body may use Hinman William, former SEC Commissioner, as a lamb & also may initiate corruption charges against Hinman.
Read also: ex-BinanceUS CEO confirms he was not running the company (court documents)
