XRP's price skyrocketed by over 50% in the past week. Here are two possible reasons why.
XRP’s price skyrocketed by over 50% in the past week. Here are two possible reasons why.
This has had the entire community speculating on possible reasons, so we take a look at two of them that might have caused the surge.The case between the US Securities and Exchange Commission and Ripple is one that the entire industry is looking at, for the way it ends might have serious implications on other projects as well.
Interestingly enough, both Ripple Labs and the Securities and Exchange Commission filed two separate motions that called the Southern District Court of New York to make an immediate ruling on whether the XRP sale violated the securities regulations. This has obviously had a very positive impact on XRP’s price, and it appears that the market is expecting a positive outcome.Data from the popular crypto resource Santiment also reveals that large XRP addresses have been in accumulation mode for quite a while.
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