XRP Ripple || XRP case and price fluctuations || Relisting of XRP

Crypto currencies see their rise and fall in the matter of seconds. Now a day there is a new issue in the world of crypto that is of Ripple's XRP, Ripple was trying to defend its case since December 2020 as it was alleged by U.S. Securities and Exchange Commission (SEC) to sell XRP to retail consumers.

This law of US securities is said to be violated by the company and two of its executives. All these discussions started when Ripple was accused that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering that began in 2013. Last year in December, news of SEC lawsuit gave heavy losses to Ripple investors when XRP faced almost 75% loss in a day. Binance, Coinbase, OKCoin, Beaxy, Bitstamp, Bittrex, Bitwise, B2C2, Swipe Wallet, Ziglu and Cryptocoin.com along with many other delisted Ripple. Delisting by these and many other exchanges has reduced the liquidity and spur panic selling.

Now, when the ripple has resolved the SEC lawsuit its price is getting unstoppable. XRP increased to a high of $0.9453, the highest level since April 2018. It has risen by more than 400% from its lowest level in December last year when the SEC filed its lawsuit. Its market cap has rallied to more than $40.7 billion, making it the sixth-biggest digital currency in the world after BTC, ETH, BNB, USDT, and DOT.

The chief technology officer (CTO) of Ripple, David Schwartz, said that “all the evidence” suggests Bitcoin and XRP are similar despite allegations XRP is being sold illegally as a security. On another occasion during “First Mover”, he said:
“The market considers them similar, we consider them similar.”

All these talks, that are used as a tactic to gain trust of the investors on XRP. When asked about the increasing prices of XRP, David has only one answer that is “Relisting by the Coinbase” which might have triggered upward movement with such a speed.