Guess which coin has joined in the top 5 most valuable cryptocurrencies! You totally guessed right- XRP.
Following a series of legal victories and rumours on social media that Ripple (XRP) is relisting at some crypto exchanges like Coinbase, Ripple seems to have travailed a very rough path and have come out victorious. The coin surged by 150 percent in 7 days and has taken its new found place in the coveted top 5 most valuable cryptocurrencies and is only just behind Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). Ripple (XRP) traded as $1.47 with a daily trading volume of $29.3 billion as at the time of this writing. Ripple is up to 147 percent for the week and boasts of a current market value of about $67 billion.
Ripple was created by US-based technology company Ripple Labs Inc. and is a real-time gross settlement system, currency exchange and remittance network that was released in 2012, and operates on a distributed open source protocol.
Ripple recently faced a lawsuit from the Securities and Exchange Commission which accused the company’s $1.3 billion initial coin offering of being an “unregistered securities offering”. This lawsuit came in December last year after the company and two of its executives were accused of selling XRP tokens by the U.S. Securities and Exchange Commission (SEC) which were classified as unregistered by the Securities and Exchange Commission. Ripple eventually became delisted from various American crypto exchange platforms and the coin lost its place as the third largest cryptocurrency by market value. Ripple seems to be getting quite some support after its lawyers made it known that they had recorded two victories so far in the legal battle with the Securities and Exchange Commission. According to credible sources, Ripple has also gained access to internal Securities Exchange Commission discussion history about crypto assets. With this, Ripple will be able to be able to gain insights as to why the Securities and Exchange Commission does not see Bitcoin and Ethereum as security assets.
Crypto investors are hoping to see the coin being relisted again on major exchange platforms.