XRP (Ripple) soared by 33%: what are the reasons for success?
Cryptocurrency XRP (Ripple) on Saturday broke through the previous highs around $1.10 and rose to the level of $1.40, strengthening at the moment by 33%.
At these levels, XRP was traded at the end of January 2018.
Cryptocurrency startup Ripple has won another victory in the case against the SEC.
In the Ripple-SEC lawsuit, another event occurred that can be described as positive for Ripple, writes block-chain24.
The court rejected a request from the U.S. Securities and Exchange Commission (SEC) to obtain bank account data from Ripple CEO Brad Garlinghouse and Ripple CHAIRMAN Chris Larsen.
As you know, the SEC asked banks for 8-year accounts of Ripple owners, claiming that this was the only reliable way to lift the veil of secrecy over XRP transactions and determine exactly how much money the defendants received from the token sales.
Garlinghouse and Larsen asked the court to withdraw the requests for information, saying that this is personal information that is not relevant to the case.
The court said that the SEC's claim was found to be unrelated or disproportionate to the requirements of the case.
Soon, the XRP token may displace Binance Coin from the third place in the CoinGecko rating by capitalization.
Veteran trader Peter Brandt claims that the XRP rally is just beginning, and in the coming months it can set a new historical record of value.
The star of the last altcoin rally was the XRP token. As negative as the prospects for the coin have been in recent months after the start of legal proceedings with the SEC, the rebound of the token has become equally large-scale after the news that Ripple's lawyers are still making progress in the confrontation with the SEC