Recent developments in the SEC vs. Ripple case could also influence XRP’s price.
Given this prevailing sentiment, it can be inferred that achieving a new all-time high in this rally will be challenging for Ripple’s XRP.
The XRP price has come under strong selling pressure amid the news of alleged hack. Ripple co-founder has confirmed investigation with law enforcement agencies.
Despite the recent SEC vs Ripple summary judgment that largely ruled that XRP is not a security, the SEC has shown intentions to appeal its case in the 2nd Circuit.
Scammers have a new style of gaining access to verified, and highly reputable accounts and using them to promote their fake links.
The trade volume of XRP increased by $7 billion during the past week.
XRP traders are buying up the token amid speculation that Ripple and the SEC might soon settle their legal dispute.
The judge mentioned attorney-client privilege as a point for denying the SEC access to the legal records of Ripple.
XRP price is up more than 230% in the past two weeks and has tripled in value in the past three months
The question on Ripple’s valuations and its XRP holdings came after XRP jumped over $1 despite the ongoing legal battle with the US SEC.
Beyond Twitter, XRP holders have been looking for avenues to get involved directly with the SEC lawsuit.
In its announcement Ripple noted that it is happy with the progress it had achieved with MoneyGram.
The complaint claims that Ripple knew that its digital coin could be a security offering after receiving legal advice “as early as 2012” but disregarded it.
Ripple founding member Jed McCaleb continues with his aggressive XRP dumping and has reportedly made more than half-a-billion dollars in gains by selling XRP over the last 8 months.
Some analysts in the crypto industry say that the current price of XRP is unsustainable.