Cryptocurrency users around the world will most likely be familiar with the situation regarding Ripple and their token, XRP. For those who might not be aware, however, the SEC had filed a lawsuit against Ripple and charged them with fraudulent activities due to their XRP token having security like functions. Ripple denied these allegations, and a portion of XRP holders have even gone as far as to try to act as a third-party defendant for Ripple as the case continues.
As of the time of this writing, the case is still ongoing, and so there is, unfortunately, more bad news for XRP and Ripple sure to come in the near future. Still, their prices increased to more than 11%, and overall, they are now up by a whopping 120% in 2021 alone.
XRP reaches the intraday high price
Earlier today, around 06:30 UTC, crypto exchange Bitstamp recorded a new intraday high for XRP price as it went up to $0.52. This might not seem like much, but it is the highest recorded price since the third week of February.
Additionally, as of today, the XRP/USD pair was recorded to be trading somewhere around $0.48, a clear indication of the increase in price for XRP. This increase was also revealed to be close to 11.50% in terms of a price surge within the previous 24 hours and an overall yearly increase of 120.7% so far in 2021. However, after recording this price surge, the native digital currency of Ripple once again turned reddish and is currently trading at around $0.46 with a price decrease of -2.42% in the last 24 hours.
Also read:Ripple representatives named among Top 100 Most Influential People in Crypto
On a lighter note, two representatives of Ripple were named in the list of ‘Top 100 Most Influential Individuals’ in cryptocurrency. The list had been published by Modern Consensus, and unsurprisingly Ripple CEO Brad Garlinghouse had made the cut, alongside David Schwartz, who is also the Chief Technology Officer at Ripple.
Additionally, another member of Ripple had also received some recognition. Vidya Mani, Ripple’s Vice President of Engineering and part of the team behind RippleNet, was included in the ‘Most Influential Women in Payments’ list, which had been published by PaymentsSource.
Although there is some reason to celebrate for Ripple, the fact remains that they are still very much in deep shark-infested waters, and time will only tell whether they will be able to come out of their ordeal with the SEC in a timely and respectable manner or not.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.