#XRP Soars 18%, Community Cheers! Is Ripple vs. SEC Finally Ending?
Story Highlights
The Biden administration may be pressuring the SEC to ease scrutiny on crypto firms.
Bill Morgan’s buy-the-dip strategy at $0.40 pays off as XRP price rises above $0.52.
Speculation arises that the SEC might end its investigation into Ripple, boosting XRP.
Ripple’s native cryptocurrency, XRP, has surged by over 18.8% this week, reclaiming the crucial resistance level of $0.52. This significant rise has ignited discussions about the driving forces behind the recent price movement.
Recent actions by the SEC, coupled with potential government pressure, have fueled speculation that the investigation into Ripple might soon reach a conclusion. Could this signal that XRP will finally be classified as a non-security?
Dive deeper to find out why XRP is making headlines and what it might mean for the future of the token.
Why Is XRP Pumping?
In a recent tweet, prominent crypto influencer Wise Advice highlighted this extraordinary price surge, suggesting that the SEC may be on the brink of ending its investigation into Ripple, the company behind XRP.
Wise Advice noted that the SEC in the past three weeks, the SEC has ended its investigations into several other crypto firms, including Consensys, Paxos, and Hiro. This pattern indicates a broader shift in the SEC’s approach toward the cryptocurrency sector.
This development has led to speculation that the Biden administration may be encouraging the SEC to ease its scrutiny on the crypto industry.
