XRP bulls are excited. More excited than they have been in the last 2 years. Not only is their token up 30% in the last 48 hours, but a heavy burden that has been weighing them down has been lifted. Is XRP security or not? This has troubled investors and put Ripple and its issued token XRP future into doubt for the last 2 years.
But now it has been ruled out as security. It is fully-fledged crypto. One cannot help but feel that XRP has finally been unleashed!
It all began in 2018 when two disgruntled investors began a lawsuit accusing Brad Garlinghouse and Ripple of falsely advertising XRP. The main aim was that XRP was advertised as security and was one but was not following the rules and guidelines set by the SEC.
If it was ruled in their favor. Ripple would come under fire for falsely advertising and not following the rules set out by the SEC. A price crash would be of no doubt and with the legal implication, Ripple would likely be dissolved.
Now though, it has been judged in Ripple’s favor. The company and issued token are in the clear. Investors are more confident than ever. This is more clear than ever having added more than 30% during this weekend.
The bulls are the first attempting to catch up with Bitcoin and Ethereum which seems to have run away a while back. A time when XRP was struggling which was marked by its loss of a podium position.
It’s now back in third place and could in a few months be fighting to once again oust Ethereum as the largest altcoin by market cap.
At the time of press, XRP is just above $0.32 where it stalled. In the coming week, bulls want to close above $0.50. All this will be set in motion if it can top $0.40 and avoid a retracement early in the week.
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