Ripple’s cryptocurrency returned to the top 4 in terms of capitalization. We tell her path from a sharp collapse of quotations in December last year to a return above the $ 1 mark for the first time in three years.The Ripple WaySimple cards1 out of 9Collapse by 80%On November 24, the value of the XRP token on the Currency.com crypto exchange reached a local maximum of $ 0.78, after which it entered the stage of decline. The sharp drop in cryptocurrency quotes happened in mid-December, when the US Securities and Exchange Commission (SEC) brought charges against Ripple.2 out of 9Start of litigationThe head of Ripple, Brad Garlinghouse, called the SEC lawsuit “an attack on the entire crypto industry and American innovation.” He stressed that the company will fight the charges.3 out of 9Threat for all ICO projectsAfter the SEC accused Ripple of an unregistered sale of securities, potentially all ICO projects were at risk.4 out of 9Ripple’s answerIn late December, Ripple promised to respond to the SEC’s “unsubstantiated” allegations. After that, it became known that preliminary hearings in the case were scheduled for February 22.5 out of 9The beginning of the growth of quotationsBy January 7, the XRP token on the Currency.com crypto exchange has risen in price from a local minimum almost twice – to $ 0.37. After that, until the end of the month, it went down, dropping to $ 0.24. Then there was a “pump”, as a result of which the price increased several times over several days, reaching $ 0.75 on February 1.6 out of 9Collapse by 56%On February 1, at 16:30, the value of the XRP token on the Currency.com crypto exchange began to decline sharply, in a few hours the drop exceeded 56%.7 out of 9First positive newsIn March, a SEC spokesman stressed that apart from Ripple and its employees, no investors, exchanges or trading platforms are breaking the law by selling XRP tokens. Against this background, rumors began to appear in the possible return of the altcoin to Coinbase.
8 out of 9April takeoffIn a few days in April, the value of the XRP token on the Currency.com crypto exchange rose by almost 80%, to a three-year high of $ 1.11. Since the end of December, when at the moment the value of the XRP token fell to $ 0.17, this token has risen in price by 580%.9 out of 9We recommend:
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– Who Needs Bubble Coins or How Currency.com LaunchedMore detailsThe SEC has accused Ripple and its executives of raising over $ 1.3 billion by selling unregistered securities under the guise of XRP tokens. This led to the fact that some exchanges, including the American Coinbase, delisted the coin.Despite the statements of the CEO of Ripple, platforms began to massively refuse to work with the XRP token. Companies that have stopped supporting: Coinbase, Galaxy Digital, Simplex, Bitwise and others. At the same time, altcoin remained available for trading on the Currency.com crypto exchange.Similar claims by the financial regulator led to the closure of Pavel Durov’s blockchain project Telegram Open Network.Garlinghouse stressed that there is “chaos” in the US regarding the regulation of cryptocurrencies. According to the CEO of Ripple, 8 different departments have different and sometimes opposite views on the digital asset market, which leads to regulatory conflicts.The “pump” occurred against the backdrop of reports on the network that traders from Reddit are going to artificially inflate the XRP token rate. Groups appeared on Telegram urging users to buy and hold altcoins on February 1 at 16:30 Moscow time.After that, the altcoin returned to growth, but its value reached $ 0.75 and exceeded it only in early April.Since the end of February, the XRP token on the Currency.com crypto exchange has begun to gradually rise in value. Altcoin has risen in price by 37% in March. But the main growth wave happened in April.This happened after the court opened Ripple access to the documents of the US Securities and Exchange Commission (SEC) for internal use. The company expects to find evidence that the regulator has in the past referred to the XRP token as a currency, not a security.