{"id":46831,"date":"2023-03-22T00:02:20","date_gmt":"2023-03-22T00:02:20","guid":{"rendered":"http:\/\/egrowonline.com\/?p=46831"},"modified":"2023-03-22T00:02:20","modified_gmt":"2023-03-22T00:02:20","slug":"why-is-xrp-price-up-today","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=46831","title":{"rendered":"Why is XRP price up today?"},"content":{"rendered":"


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XRP\u2019s (XRP<\/a>) price extended its gains on March 21, rising 21% in the last few hours.\u00a0<\/p>\n

XRP price rallies as Bitcoin recaptures $28,000<\/h2>\n

The rally in the XRP\/USD pair started on March 21 with the XRP price reaching a 90-day high of $0.459.<\/p>\n

XRP price. Source: CoinGecko<\/figcaption><\/figure>\n

The price move comes as Bitcoin (BTC<\/a>) and Ether (ETH<\/a>) rallied more than 2% during intraday trading.<\/p>\n

Ripple scores early win versus SEC\u00a0<\/h2>\n

XRP\u2019s gains appeared as investors pinned their hopes on Ripple winning its ongoingcourtroom battle against the United States Securities and Exchange Commission (SEC)<\/a>.<\/p>\n

On March 6, U.S. District Judge Analisa Torres issued a ruling on motions filed by Ripple and the SEC to exclude the comments of expert witnesses from the upcoming summary judgment. Torres approved and denied the motions in part, underscoring no clear winner and loser in the matter.<\/p>\n

However, removing the so-called \u201cExpert No. 1,\u201d Patrick Doody, whom the SEC roped as its primary witness to testify about the perceptions of a reasonable XRP purchaser, led XRP market participants to believe that Ripple may end up winning the lawsuit.<\/p>\n

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@SECGov<\/a> VS. @Ripple<\/a> . Judge Torres excludes witness #1 witness Patrick Doody (expert hired to analyze our expectations as #XRPHolders<\/a> ) . How will the SEC prove that we expected a profit if Doody is excluded? Don’t sleep on this ruling, this is a big deal. #XRP<\/a><\/p>\n

\u2014 RippleEffect (@CommonsenseXRP) March 7, 2023<\/a><\/p><\/blockquote>\n

In other words, the SEC\u2019s argument that Ripple sold XRP as an unregistered security to gullible investors may fall flat.<\/p>\n

As Cointelegraph reported in January, Ripple CEO Brad Garlinghouse said that he expects the lawsuit to conclude<\/a> \u201cin the coming single digit months.\u201d <\/p>\n

Despite macro pressure, XRPL users surge<\/h2>\n

In addition to regulatory pressure, Ripple also was exposed to Silicon Valley Bank which recently filed for bankruptcy<\/a>. Ripple CEO Brad Garlinghouse assured the community<\/a> on March 12 that the company is in a strong financial position.\u00a0<\/p>\n

Despite the difficulties currently impacting the crypto market, Ripple\u2019s XRP ledger continues to grow. On Feb. 23, total accounts on XRP neared 5 million. <\/p>\n

XRP account dashboard. Source: Messari<\/figcaption><\/figure>\n

Related:\u00a0Community urges Coinbase to relist XRP as CEO fights for staking<\/a><\/em><\/strong><\/p>\n

While Ripple continues to onboard users to the XRP ledger, any positive or negative news regarding the SEC lawsuit is bound to have a significant impact on XRP price. <\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<\/div>\n


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XRP\u2019s (XRP) price extended its gains on March 21, rising 21% in the last few hours.\u00a0 XRP price rallies as Bitcoin recaptures $28,000 The rally in the XRP\/USD pair started on March 21 with the XRP price reaching a 90-day high of $0.459. XRP price. Source: CoinGecko The price move comes as Bitcoin (BTC) and […]<\/p>\n","protected":false},"author":1,"featured_media":46832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[195,446,58],"class_list":["post-46831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-price","tag-today","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/03\/27adace7-91b4-4f1e-a47f-00f5c1e7cf7c.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/46831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46831"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/46831\/revisions"}],"predecessor-version":[{"id":46833,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/46831\/revisions\/46833"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/46832"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46831"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}