XRP is up over 20% in anticipation of today's Ripple SEC session

XRP is up over 20% in anticipation of today's Ripple SEC session

  • Speculation that the Securities and Exchange Commission (SEC) could provide clarity to cryptocurrency exchanges at today's hearing is fueling the XRP rally.
  • The Telephone Discovery Conference begins at 20:00 CET.

Many analysts are forecasting the "alt currency season" for April, and a look at the top 100 by market cap shows exactly that. At the top of the top performing cryptocurrencies within the top 30 is currently XRP. The price has risen more than 21% in the past 24 hours and now stands at $ 0.88.

One possible reason for this appears to be today's hearing in the US Securities and Exchange Commission (SEC) lawsuit against Ripple. As CNF reported, this is the next big event. A telephone discovery conference will be held at 20:00 CET to discuss Ripple's request for disclosure of SEC documents regarding the classification of Bitcoin and Ethereum as non-securities.

Speculation that the Securities and Exchange Commission (SEC) could provide clarity to cryptocurrency exchanges at today's hearing is fueling the XRP spike.

The Telephone Discovery Conference begins at 20:00 CET.

Many analysts are forecasting the "alt currency season" for April, and a look at the top 100 by market cap shows exactly that. At the top of the top performing cryptocurrencies within the top 30 is currently XRP. The price has risen more than 21% in the past 24 hours and now stands at $ 0.88.

One possible reason for this appears to be today's hearing in the US Securities and Exchange Commission (SEC) lawsuit against Ripple. As CNF reported, this is the next big event. A telephone discovery conference will be held at 20:00 CET to discuss Ripple's request for disclosure of SEC documents regarding the classification of Bitcoin and Ethereum as non-securities.

Moreover, the XRP community hopes that today the Securities and Exchange Commission (SEC) will make it clear that third parties that sell XRP, such as exchanges or retail investors, cannot be sued by the SEC for any future activity. If this happens, all exchanges and mutual funds that have suspended XRP trading for US clients will likely resume trading within a week or two.

As a result, the price of XRP could see a boost, similar to the "Coinbase effect", as it only doubled, as has been expressed many times recently in the community. So the pump appears to be speculation that the SEC will provide clarity today.

However, whether this really will happen, at least appears to be questionable. In response to attorney John E. Deaton's request to intervene, the SEC clarified that it is pursuing a two-pronged strategy. She clearly doesn't want to commit at this time whether she's just talking about past XRP sales or (future) post-lawsuit sales. Moreover, the SEC claims that Deaton and the interlocutors are only interested in relying on cryptocurrency exchanges to "resume speculative trading" on XRP.

RIPPLE SEC XRP