On July 12, Ripple (XRP) rose 6% to $0.47 despite the overall market decline. This price increase coincided with optimism about a possible resolution of Ripple's litigation with the SEC. 📈👀
The cryptocurrency industry is in the red today, with global market cap down 1.5% to $2.22 trillion. Major digital assets such as Bitcoin (BTC) and Ethereum (ETH) fell approximately 2% on the day, while Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB) performed worse.
However, a leading cryptocurrency called Ripple (XRP) has defied the negative trends. Its price rose to $0.47, representing a 6% increase on a 24-hour scale and an 18% weekly increase. This is a significant reversal from the one-year low of $0.39 recorded during last week's heavy market correction.
XRP's price revival comes at a time when expectations are rising for the long litigation between Ripple and the U.S. Securities and Exchange Commission (SEC) to end. Claiming that the outcome of the case could occur as early as this month, American lawyer Fred Rispoli argued that it would include a maximum penalty of $ 25 million and an unfair gain of $ 0 for the company.
Another person who believes the case could officially end this summer is attorney Jeremy Hogan. He predicted a settlement of $100 million and ill-gotten gains of $0. However, due to the complexity of the legal process and possible objections from both sides, the case is likely to be extended indefinitely.