XRP Pumped To $1, Ignoring SEC Lawsuit
Dana Sanchez, 07 April 2021
XRP, the currency that runs on the digital payment platform RippleNet, hit $1 on Tuesday morning EDT, becoming the fourth highest-valued cryptocurrency with a $45.5 billion market cap despite being sued by the U.S. agency that works against market manipulation.
After rising as high as $1.12, XRP was trading at $0.96 as of this writing, with a $43.567 billion market cap — still ranked at No. 4 by CoinMarketCap, before slipping down to fifth place after Tether.
The U.S. Securities and Exchange Commission sued Ripple Inc. in December for failing to register as a security and raising $1.3 billion by selling the token in unregistered securities offerings.
Hitting above $1 was the highest the cryptocurrency has climbed since March 2018. XRP fell from around $0.60 in November 2020 to $0.20 in December, Coindesk reported. It hit an all-time high of $3.30 in January 2018.
