As the overall market conditions are getting significantly bullish, with Bitcoin crossing above $50,000, altcoins, including XRP, are riding on the trend.
XRP’s Legal Tussle and Price Dynamics
XRP has recently garnered attention due to the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). Crypto lawyer James Murphy predicts a potential settlement in the SEC vs Ripple lawsuit could be on the horizon, especially with 2024 being an election year and the possibility of new SEC management. This anticipation has contributed to XRP’s price climbing to $0.53, marking nearly a 5% weekly gain for holders.
As seen in the XRP/USDT chart, XRP has been facing a downtrend for the past couple...