After a 40% jump in Ripple prices over the past seven days, the digital currency has managed to return to sixth place in the market after a long time. The fate of Ripple and the US Securities and Exchange Commission remains unclear.
According to market data, according to market data, the digital currency Ripple with its recent growth managed to surpass Cardano and Solana and after a long time to relive the sixth position in the market.
The price of Ripple has increased by 12% in the last 24 hours and by about 40% in the last seven days and is performing much better than other major currencies on the market.
Despite the digital currency market in early 2022 and Ripple’s unconvincing litigation with the US Securities and Exchange Commission, XRP has seen a 5% price increase since the beginning of the year.
Fox Business presenter Charles Gasparino recently tweeted that the case is likely to continue until next summer. He added that issuing the Biden government’s executive order on digital currencies could change the situation in favor of the US Stock Exchange Commission by classifying the disputed token as an unregistered security.
Recently, the stage of presenting evidence in court was extended until February 28 at the request of both parties. This delay allowed Ripple and the Stock Exchange Commission to gather additional documents.
Stuart Alderotti, Ripple’s senior lawyer, recently called on the US Securities and Exchange Commission to look into the matter as soon as possible.
Judge Analisa Torres, a judge in the case, has not yet ruled on the case against Brad Garlinghouse, CEO of Ripple, and Chris Larsen, co-founder of the company, for dismissing the stock exchange’s appeal. The court has not yet ruled in the case of the US Securities and Exchange Commission against the key protections of Ripple executives on the issue of “fair information”.
Ripple executives have previously been told that the Stock Exchange Commission has not explained the rules for dealing with the XRP digital currency problem, so it cannot be said that it has complied with the Honest Information Act. The Stock Exchange Commission recently sent two letters to the judge explaining the issue.
After the stock exchange commission complained about Ripple in December 2020, the price of this digital currency fell by 70% and many exchanges stopped trading this token in the United States. Ripple later managed to recover its price, but is still one of the few major tokens that failed to break its historic record during the recent uptrend in digital currencies.
After Ripple 40% jump; XRP ranks sixth in the market after long appearing first in Digital Currency.