Crypto:
29856
Bitcoin:
$67.883
% 2.08
BTC Dominance:
%52.9
% 0.21
Market Cap:
$2.53 T
% 1.90
Fear & Greed:
76 / 100
Bitcoin:
$ 67.883
BTC Dominance:
% 52.9
Market Cap:
$2.53 T

Why XRP Price Increased?

XRP price is affected by the last event between XRP and SEC. What is the event? XRP had a case for almost 2 years with SEC(Security and Exchanges Commission). According to SEC XRP is a security. But it isn’t the main reason for the case, the real cause is that XRP is selling unregistered security and according to SEC’s thoughts, it isn’t legal.

Actually, SEC says that XRP can sell its own coins as a company. But it should register them for this procedure and then the company can sell its own securities (coins). If SEC wins in the judgment, it will conclude as worse results for the coin and its price definitely will decrease dramatically.

You might also like: Is the crypto market crashing? SEC targeted BinanceUS!

Why Did XRP Price Increase?

As we know the case continued during about 2 years between XRP and SEC. Finally, today judge completed the case in favor of XRP. In this manner, the event affected XRP and its price. During just 5 hours the coin’s price increased 5 times and hit a peak of its own value this year.

Judge made a decision in favor of XRP and he ruled that XRP selling isn’t a security or investing contract. After that XRP can sell and develop its own products on the chain. Besides investors and the community is happy because of the result.

The community is waiting for the next upgrades and developments on the XRP and its chain. XRP price is increased and it is in increasing right now. But you definitely should keep an on eye it because you can lose your own assets. That’s why you must research and then invest in your decisions. Especially, if you are an investor. Specifically, you must pay attention to the coin and its tokenomics.

 

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