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XRP price faces a rocky road to recovery ahead of SEC’s Ripple lawsuit

Published 12/28/2020, 02:31 PM
Updated 12/29/2020, 04:40 PM
XRP price faces a rocky road to recovery ahead of SEC’s Ripple lawsuit
XRP/USD
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Just over a month ago on Nov. 24, XRP’s value surged to above the $0.90 mark on U.S. cryptocurrency exchange Coinbase, albeit momentarily, leading many backers to believe that the digital currency was all set to skyrocket once again, possibly even retesting its January 2018 all-time high of over $3.

However, in the wake of the recent lawsuit laid out by the United States Securities and Exchange Commission against Ripple, not only does a future value hike look increasingly improbable for XRP but the project’s future as a whole could be in jeopardy. The SEC’s core argument against the digital currency created by Ripple is that from the very beginning, it has been a “security” and, as such, should have been registered with the governmental body before being made available for purchase for American citizens.

The nitty-gritty of the case

What are the implications of the lawsuit?

A twist in the tale?

Continue Reading on Coin Telegraph

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