XRP, Ripple’s token, has been gaining momentum for the past couple of hours. Unlike other cryptocurrencies, this firm’s story has been rocky and has faced such severe losses; it has been a shock that it still stands. LINK by Chainlink has been the most successful crypto-story for the last year. Bitcoin, even though with an incredibly tough couple of weeks, it has rebounded in a true fashion that only the oldest cryptocurrency in the world can get through. Even Dogecoin has had its fair share of fun rides, all with also the help of Elon Musk.
But XRP’s parent company’s drama has also been gaining widespread attention. Back in December, it was accused of misconduct by selling its tokens with no registration. The legal proceedings were brought on by none other than the United States Securities & Exchange Commission. With this piece of news, several firms discontinued their listing relationship with Ripple. This resulted in several share withdrawals as well.
How XRP By Ripple Rebounded
XRP’s parent firm, Ripple’s total market capitalization, fell drastically as well. The rate it fell at was 63%. The amount that was rigged away in it and left several of its investors almost ruined was $16 million. But about a week in 2021, there was a sudden rise in its prices, ranging to about 30%. But if anything, the past day has been counting for the company. It has reached a price of $0.51. However, it did dip further later on. But all in, it rose about 40% within just the past 24 hours, summing up the growth of 50% for the week.
But several resources speculate that XRP may have the same fate GameStop has had so far. The case of “pump and dump.” It was also alleged that the investors were none but another Telegram group.
No matter the number of lawsuits against the firm and its insiders, it stands strong to fight back.
