XRP enthusiasts are currently holding on to the seventh most valuable crypto, as a significant number of crypto pundits argue on Ripple settling with the U.S powerful financial regulator.
At the time of writing this report, XRP traded at $0.581492 with a daily trading volume of $4 Billion. XRP is up 3.98% for the day
XRP Bulls had earlier breached the support base above $0.55 price levels on macros suggesting the ongoing legal tussle at an American court might go in Ripple’s favour, before surging above the $0.58 price area.
READ: XRP stands firm, investors wait on Ripple’s legal outcome
A top crypto strategist with the pseudo name XRP_Co adding credence to the facts that reveal Sarah Netburn, the American Judge Handling Ripple’s case, views the crypto asset more like a currency and utility rather than security as claimed by the U.S SEC.
“My understanding of XRP is that not only does it have a sort of currency value, but it also has a utility, and that utility distinguishes it from Bitcoin and Ether.”
– Sarah Netburn, Judge, SEC v Ripple case (Mar 2021)
READ: Ethereum defying law of gravity surges past $1,050
“My understanding of XRP is that not only does it have a sort of currency value, but it also has a utility, and that utility distinguishes it from Bitcoin and Ether.”
– Sarah Netburn, Judge, SEC v Ripple case (Mar 2021)
?https://t.co/0lcYGbyAIV#xrp @Ripple #fintech #crypto pic.twitter.com/zUjcMktO7s
— XRP_Cro (@stedas) March 28, 2021
The fast-rising crypto is staying firm above $0.5500, with the two most valuable cryptos, Bitcoin and Ethereum also gaining more upside.
Meanwhile, Ripple, XRP provider, and leading enterprise blockchain recently disclosed it was acquiring about 40% of Tranglo, a Malaysian cross-border payments firm.
READ: Leader of world’s most powerful central bank says Crypto unreliable for wealth preservation
The company and its top lieutenants seem to be undeterred by the legal tussle with the U.S. Securities and Exchange Commission for allegedly deceiving holders of XRP by selling more than $1 billion of the crypto assets without registering with SEC
Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The crypto is known as XRP and transfer times are super-fast.
Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.