Ripple (XRP) Skyrockets 20% in 14 Days: Here Are The Reasons Why
XRP has been one of the best performers in an otherwise stagnant and even declining cryptocurrency market where most of the coins are charting declines.
The cryptocurrency is up over 20% measured from the lows on September 28th and the price it’s trading at the time of this writing, as seen in the chart below.
The SEC Lawsuit Going Well for Ripple
One of the biggest variables in XRP’s future price performance lies within the outcome of the lawsuit between the United States Securities and Exchange Commission and Ripple.
However, it appears that the process is going well in the company’s favor following the latest win on September 29th.
Back then, as CryptoPotato reported, New York judge Analisa Torres, ordered the SEC to turn over internal documents, which include emails and drafts. These relate to a speech from the former commissioner William Hinman in 2018.
The speech itself is well-known for containing comments on the legal status of Ether, where the commissioner said that ETH, alongside BTC, is not a security. Hinman’s internal emails are also considered relevant to the case, as some blieve he had conflicts of interest related to Ethereum. This is because he previously worked at a law firm with a seat at the Enterprise Ethereum Allinace.
Back then, as evident on the chart, the price exploded.
New Partners in France and Sweden
Just today, the San Francisco-based Ripple announced its very first on-demand liquidity (ODL) customers in Sweden and France.
The customers are Lemonway and Xbaht, where the fomrer enables money movement between Thailand and Sweden.
Talking on the matter was Sendi Young, the company’s managing director for Europe, said:
Since our inception ten years ago, Ripple has focused on using blockchain and crypto to build real use cases. This is why we have become the patner of choice for enterprises such as Lemonway and Xbaht looking to tap into global crypto liquidity to eliminate the traditional problems associated with cross-border payments such as lack of speed, unreliability, and excessive cost.
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