XRP price rises with Ripple announcement
Ripple released a new statement regarding the XRP lawsuit filed by the SEC. The company stated that this is a war against the world of cryptocurrencies and announced that it will fight it legally. The announcement by Ripple led to a rise in the price of XRP.
The SEC alleges that XRP, which it recognizes as securities, was sold off the record and is preparing to sue Ripple. Ripple announced on December 29th that this is an attack not only against Ripple, but against the cryptocurrency sector. Ripple said it would continue to serve its customers smoothly throughout the process.
Ripple announced a legal response to the SEC’s indictment in a few weeks. “We will protect our company, ” the announcement said.”the message was given. The other highlight is ” we look forward to working with the appointed new SEC Chairman.”his statement was.
“Most of our customers are not in the US”
Ripple has partnerships with more than 300 companies through technologies such as On-Demand Liquidity. In its announcement of the SEC lawsuit, the company stressed that most of these partners “are not U.S.-based.” XRP’s trade volume largely comes from countries other than the United States, it said.
The company noted the uncertainty of cryptocurrency regulations in the United States. Regulations in the UK, Japan, Switzerland and Singapore are much more open, XRP said.
The case hurt XRP investor
Ripple said the indictment prepared by the SEC had a negative impact on the industry. The company stated that “innocent XRP investors with no connection to Ripple” were harmed by this lawsuit. In the announcement, it was emphasized that this step taken by the SEC did not address uncertainties in the sector, but rather led to more question marks.
The price of XRP is on the rise with this news
The US cryptocurrency exchange Coinbase announced on December 28th that it would stop trading XRP. The price of XRP fell below $ 0.20 after this news. The announcement by Ripple resulted in the price of XRP rising.
The price of XRP increased by up to 30% in the first hour after Ripple’s announcement. According to CoinGecko data, the price of XRP rose to $ 0.23, while its market capitalization rose to $ 10.6 billion. XRP has started a fourth-place race with Litecoin due to recent events.