Ripple’s XRP seems to be leading the way with a push as high as 30% on the daily, in the face of strings of legal victories and rumours of relisting exchanges. The aforementioned is in the middle of a weekend pump carrying multiple cryptocurrencies higher.
XRP increased to $1.36 before retreating to $1.32, where it sits while Bitcoin and Ethereum are up to merely 2.7 % and 3.4% respectively on the day. XRP has pushed up to to 111% on a seven days basis and 544% staggering on a year. XRP has been brought back to the top cryptocurrencies by marketcap by the current push and is trailing behind BTC ETH and BNB at #4.
That $1.3 billion ICO was an unregistered securities offering was the gravamen of the of the rally flies in the face of a lawsuit from Securities and Exchange Commission of the United States.
The bad news for XRP didn’t stop with the SEC, either. In March Ripple CEO Brad Garlinghouse announced that the company would be “winding down” its relationship with Moneygram — a once highly-touted partnership that investors often pointed to as proof of the digital currency being on a path towards becoming “the standard” for payments and settlement.
Despite the deluge of negative headlines, it appears all buyers needed was a small ray of hope to jump back in — and they’ve gotten exactly that. Ripple lawyers have notched two victories in their legal battle against the SEC, including winning access to internal SEC discussion history regarding cryptocurrencies, and a court denied the SEC the ability to disclose the financial records of two Ripple execs, including Garlinghouse.