Cryptocurrency Editor's Picks Ripple News

Top Reasons Behind XRP Price Surge

XRP recorded increased sales but lingering trading volume over the last quarter

Coinbase considers relisting XRP

The price of XRP shot up to 0.609 it’s All-time high on Friday after CEO Brad Garlinghouse expressed trust in Ripple’s ability to succeed in its legal battle against the regulator SEC.

Speculations of the largest crypto exchange Coinbase considering to relist XRP have made rounds in the market lately, the rumours have complimented the price spike.

Coinbase and several other exchanges like Bittrex and Binance suspended XRP trading in January, after the filing of the complaint on December 21. 

Coinbase, on the other hand, has continued to allow its customers to store and withdraw XRP without interruption since then, with only trading suspended. 

At the time of writing, XRP is trading at $0.7405 with a market cap of $62.09B.

XRP Whale Transfer

According to crypto tracker Whale Alert, two major crypto platforms have transferred a whopping 193 Million XRP worth $125121179 in the past thirteen hours.

Whale alert reported that several stacks of 65 Million XRP, 40 Million XRP twice, and 24M twice were moved amongst the two famous platforms.

The platforms were Binance ( the largest Dex by volume) and BitGo (Dex and a crypto custodian). Bitgo also stores XRP for the giant Ripple labs.

 Ripple Labs, DLT Decacron along with other market participants had moved a total of 160.1 Million XRP, and it also made a periodic withdrawal of 1 Billion XRP, 90M of which was moved back to escrow.

Is Ripple XRP vs SEC Dead ?

XRP holders achieve victory over the SEC. The US district court Judge Analisa Torres has given Attorney John Deaton (representative of Xrp Community) permission to file a motion to intervene in the ongoing SEC Vs Ripple Labs case.

The judgment directed for the motion to intervene to be filed by 19 April, followed by the opposition, and response papers to be filed by 3 May.

Deaton had taken to Twitter, to express his remorse regarding the counterargument in the pre-motion letter written by SEC to the court.

He had claimed that the SEC “is clearly trying to make me look bad by claiming that my motivation I’m seeking to intervene is for profit-taking.”

This is welcome news for Deaton and many XRP supporters but it is a major setback for the SEC as they had expressed opposing views earlier.

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