XRP jumped 36% — what's going on?
XRP rose more than 30% on Monday on the back of positive news and the overall growth of the crypto market.
Foreign regulators have refused to help the U.S. Securities and Exchange Commission (SEC) in the case against XRP. The agency sent appeals after the company did not provide documents on the transfer of XRP tokens abroad.
At the end of last week, the fourth cryptocurrency was able to hold above the landmark level of $1, from which there was an upward rebound.
SEC has asked nine foreign regulators to obtain documents from 14 trading platforms and five companies. Two agencies refused to help the US authorities, and three forbade disclosing the details of the discussion. The rest rejected the request.
The commission has previously analyzed wallet addresses associated with Ripple CEO Brad Garlinghouse and its co-founder Chris Larsen. The SEC found that hundreds of millions of XRP tokens were transferred to the accounts of unregistered crypto exchanges in the United States.
Recall, on April 7, Judge Sarah Netburn granted Ripple's request for access to SEC documents revealing the regulator's "interpretation and views" regarding Bitcoin and Ethereum. On April 11, the court rejected the SEC's request to disclose the personal financial statements of the company's top managers. Against the background of these events, XRP reached $1.96.
From other news. Last week, institutional investors increased the flow of funds to XRP. According to the weekly CoinShares report, approximately $33 million were invested in XRP.