XRP has recently captured market attention with a dramatic price surge, climbing nearly 130% in just seven days. As a top-ten cryptocurrency by market cap, XRP overtook ADA, DOT, and USDT to secure the fourth position.
At press time, OKX data shows XRP trading at $1.376, down 8.08% from its peak of $1.497 but still marking its highest level since January 2018. Despite this rally, XRP remains 60% below its all-time high of $3.539.
While Ripple has secured procedural wins against the SEC, the unresolved lawsuit continues to loom over the company and XRP holders like a "Sword of Damocles."
XRP’s 470% Year-to-Date Rally
Over the past weekend, XRP outperformed with a 50% two-day surge, including a 29.39% gain on April 10 alone. Bybt reports XRP’s open interest reached a record $1.581 billion on April 11.
Galaxy Digital CEO Mike Novogratz suggested the rally might signal progress in Ripple’s settlement talks with the SEC. This speculation follows Judge Sarah Netburn’s rejection of SEC requests for Ripple executives’ personal financial records, deeming them irrelevant to the case.
Key Legal Developments:
- March 22: Judge Netburn noted XRP’s utility value distinguishes it from Bitcoin/ETH, potentially supporting its non-security status.
- April 3: Ripple won permission to redact confidential email content.
- April 7: The court granted Ripple access to SEC internal documents about Bitcoin/ETH classifications, which could reveal regulatory inconsistencies.
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The Ripple-SEC Timeline
The lawsuit’s outcome carries industry-wide implications for crypto securities classification in the U.S. Key events include:
2020 Catalysts:
- Ripple’s $46M XRP buyback program
- Flare Networks’ SPARK token airdrop announcement
- Strategic partnership with PNC Bank
- PayString trademark filings for payment services
- Retail investor interest amid Bitcoin’s bull run
The SEC Complaint (Dec 2020):
The SEC alleges Ripple sold 14.6B unregistered XRP securities worth $1.38B. XRP’s price halved within days, and exchanges began delistings.
XRP’s Volatile Nature
Historically, XRP exhibits extreme volatility:
- 2017 Bull Run: 1,356% surge in <1 month (peaking at $3.539)
- 2018 Crash: 82.74% monthly drop post-peak
Current market cap: $61.4B (3% of crypto total vs. 18.21% in 2018)
Controversies:
- SEC accuses Ripple of manipulative trading via "selective disclosures"
- Independent audits suggest Ripple underreported XRP sales by 200M tokens ($80M)
What’s Next for XRP?
The asset’s future hinges on:
- Lawsuit resolution or settlement terms
- New SEC leadership under Gary Gensler (perceived as crypto-positive)
- Ripple’s expanding use cases (e.g., CBDC partnerships)
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FAQs
Q: Why did XRP price surge recently?
A: Combination of legal optimism, retail FOMO, and Korean trading volume (XRP/KRW is Upbit/Bithumb’s most active pair).
Q: Could XRP still be deemed a security?
A: Possible, though Judge Netburn’s utility comments and SEC’s inconsistent crypto classifications offer Ripple defense arguments.
Q: How does Ripple differentiate XRP from securities?
A: By emphasizing XRP’s utility (payment rail) rather than investment contract characteristics per Howey Test criteria.
Q: What happens if Ripple loses the case?
A: Potential penalties, XRP delistings, and precedent for other altcoins facing SEC scrutiny.
Q: Is XRP a good long-term investment?
A: Highly speculative—dependent on case outcomes and adoption beyond Ripple’s ecosystem.
Disclaimer: Digital asset trading involves significant risk. This content is not investment advice. Conduct your own research before investing.
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