XRP is now trading at $1 or more, even despite the parent company Ripple still being locked in a legal battle with the United States Securities and Exchange Commission.
Not only does the recent pump prove the power of borderless cryptocurrencies, but it takes the token to a key technical level that if broken, should target a new all-time high well above the former peak at more than $3 each.
XRP Pumps Beyond $1, But Could Climb To New All-Time Highs
Investors in the United States are likely livid right now with the Securities and Exchange Commission’s decision to pursue legal action against XRP parent company Ripple and its executives.
The SEC deemed the token an unregistered security, and exchanges in the country were forced to delist XRP immediately. An expected selloff resulted from a large share of investors stuck cashing out their bags – otherwise strong hands forced by the government that is supposed to be protecting them.