XRP is valued more today than it was before the SEC lawsuit with its market cap being $27.9 billion, becoming the 7^th biggest cryptocurrency as we can see more in our latest ripple news.

XPR’s market cap is set at $27.9 billion and made it the 7^th biggest cryptocurrency again with the price being up by 170% since the start of the year with the investors thinking that the SEC’s case against Ripple will not amount to much. Most of the time, legal troubles are bad news for the prices of both stocks and crypto-assets while XRP is proving to be an exception. After rising over 5% over the past day, XRP is valued at $0.60 and the market cap is $27.9 billion as per the data from Nomics. That’s quite higher than it was before the SEC lawsuit which was worth over $1.3 billion. Back in 2020, a few days before the lawsuit, XRP was worth $0.58 with a market cap lower than $27 billion.

It was quite the turnaround for the token which dipped below the $0.17 range after the SEC brought the lawsuit. The agency said that Ripple Labs, and Chris Larsen who was an executive chairman along with Brad Garlinghouse, the founder, are responsible for $1.3 billion in unregistered securities offerings. Security is an investment contract that signifies a huge stake in the financial venture with the expectations of more profits in the future. The SEC regulates securities in the US so in eh wake of the allegations, a few exchanges and trading platforms like Coinbase, Crypto.com, Binance, and Blockcahin.com suspended XRP trading. Ripple also suffered major setbacks after getting the partnerships with Microstrategy broken off citing uncertainty concerning their ongoing litigation.

Ripple and its leadership team fought back against the charges and asked the court to force the SEC and turn over documents about the agency’s examinations into BTC and ETH which escaped their scrutiny. The agency was tight-lipped about the approach and refused to provide the needed documentation. The documents could show mentions of XRP as a virtual currency rather than security which will boost the ripple case.

XRP’s most recent price increase led the token to $0.60 before dipping to $0.41 two weeks later which shows that investors still believe the cryptocurrency and the company behind it so it can survive the SEC’s case especially after TEtehr escaped another investigation. The coin’s price also shows that the market is quite hot but it has increased in price along with other coins in the top ten.

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Source: https://www.dcforecasts.com/ripple-news/xrp-is-valued-more-today-than-before-secs-lawsuit-analysis/