Ripple Vs. SEC: XRP Showing Strength In The Legal Fight As New Evidence Arises
The returns on Ripple were promising in the past decade, but it largely missed out on significant crypto gains. However, it did succeed during the early parts of last year until April, when its value grew significantly higher than before, only to be replaced by other cryptocurrencies later in autumn, which had much better performances throughout that period.
XRP has been making lower highs since 2017, and the price is bearish.
Ripple Vs. SEC: XRP Showing Strength In The Legal Fight As New Evidence Arises
The returns on Ripple were promising in the past decade, but it largely missed out on significant crypto gains. However, it did succeed during the early parts of last year until April, when its value grew significantly higher than before, only to be replaced by other cryptocurrencies later in autumn, which had much better performances throughout that period.
XRP has been making lower highs since 2017, and the price is bearish. Other cryptocurrencies continued to make record highs until November 2021, but XRP's price had grown slowly. During last month's dip, XRP had slipped below $1, falling to $0.55. A week later, markets turned bearish again overall, but XRP holding onto its gains indicates that there could be more upsides left within rangebound periods.
XRP still green even all other major cryptos are red | Source: XRP/USD chart on Tradingview.com
XRP Fight Against SEC
The main reason XRP is falling behind the rest of the crypto market has been a legal battle that started more than one year ago, when SEC opened their case against Ripple, claiming it's an investment contract. Everyone following this lawsuit will determine how blockchain technology should develop in America for future generations.
Ripple has faced many challenges in its lawsuit against the SEC. This increase could be the beginning of a bullish period for XRP if indeed the long-lasting trial comes to an end in the upcoming months.
Some people predict that XRP will lose favor among investors because there is now a newer, more popular payment token in the market.
Another statement by Vladimir Gorbunov, CEO of Crypterium, explains;
Ripple's outlook remains questionable because market conditions have changed dramatically over the past few years. A large number of companies making similar solutions to Ripple.
— Dan B of NewsBTC - Bitcoin & cryptocurrency news today, price & technical analysis
Keywords: Ripple, Cryptocurrency, Ripple VS SEC, SEC VS Ripple, Xrp, XRP Lawsuit
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