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History shows that the SEC’s actions against Ripple have had an immediate and drastic impact on XRP’s price movements.
However, the latest crash could actually be a blessing in disguise for Ripple’s token, as there have been four-digit price surges in the past.It’s safe to say that the lawsuit initiated by the US Securities and Exchange Commission has harmed Ripple’s native token, and the developments from the past 24 hours only solidified this narrative. XRP stood above $0.6 yesterday but lost 15% of its value, and it now struggles at around $0.51.
According to popular industry analyst Crypto Karlos, XRP shot up from $0.17 to almost $2 in the next four months back then. A similar 1,100% rally now would push its price to more than $6.bottomed just 8 days after the suit was first announced. It then went on to rally nearly 1100% from 17¢ to $1.98 in the following 4 months.
Just hours before the SEC’s appeal, another important news regarding Ripple and its native token came out. Bitwise, a large crypto-focused company with already two active ETFs tracking BTC and ETH,Many analysts claimed that this is highly bullish for the current seventh-largest cryptocurrency. In fact, CrediBull_Crypto told their 423,000 followers that the XRP ETF will be the next approved in the States.
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