XRP is now trading at $1 or more, even despite the parent company Ripple still being locked in a legal battle with the United States Securities and Exchange Commission.
Not only does the recent pump prove the power of borderless cryptocurrencies, but it takes the token to a key technical level that if broken, should target a new all-time high well above the former peak at more than $3 each.
Investors in the United States are likely livid right now with the Securities and Exchange Commission’s decision to pursue legal action against XRP parent company Ripple and its executives.
The SEC deemed the token an unregistered security, and exchanges in the country were forced to delist XRP immediately. An expected selloff resulted from a large share of investors stuck cashing out their bags – otherwise strong hands forced by the government that is supposed to be protecting them.
Related Reading | Charted: Ripple Skyrockets, Why Break Above $1 Seems Likely
Regardless of the legal implications for Ripple, the borderless design of cryptocurrency technology and lack of alignment with any single country, has allowed XRP to live on – now thriving as it makes a sharp recovery to more than $1 per XRP.
The last time that XRP rocketed to $1, it didn’t stop there. The Altcoin
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There are now infamous guides posted by major media outlets educating users on how to buy the top, and investors have been waiting ever since for a recovery.
Related Reading | XRP Leads Top Ten, Is The SEC Lawsuit Against Ripple Dead?
The recovery could be here now that the Coin
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If for some reason US investors are allowed to buy XRP again, runaway FOMO could push prices far beyond that for a more dramatic peak that the
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