In an unexpected turn of events, XRP is the top-performing large-cap today. Over the last 24-hours, XRP has soared 16%, even spiking as high as $0.74 in the early hours of the European session.
Analysis of the chart shows a definite uptrend suggesting that, despite the difficulties endured due to the U.S Securities and Exchange Commission (SEC) lawsuit, bulls continue to grow in confidence.
Source: XRPUSD on TradingView.com The Latest Twist in SEC Lawsuit
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The price of XRP tanked following the SEC’s lawsuit against Ripple just before Christmas. Later on, key partners, including MoneyGram, jumped ship, and several exchanges also delisted the token.
According to the SEC, Ripple and two key executives had sold $1.3bn of unregistered securities. Ripple CEO Brad Garlinghouse responded by calling the lawsuit an attack on the whole crypto industry. Despite his attempt to uplift the situation, the overriding sentiment at the time was one of fear.
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