Ripple Investors Prepare for SEC Faceoff

On May 21st, The US Securities and Exchange Commission (SEC) will engage in a telephonic conference with Ripple (XRP). Ripple is required to provide legal documents to help the determine XRP’s regulatory status.

This is just the latest in a number of volleys fired between the SEC and Ripple. Ripple investors weighed in on social media declaring a preemptive victory for XRP for the lawsuit.  Ripple is also planning to go public with an IPO that was put on track before the lawsuit started and is still moving forward despite the ongoing legal battle the company is facing.

XRP has managed to see a 493.9% increase this year, which has created an incredibly positive outlook among analysts for this cryptocurrency since the digital asset is only available on a few exchanges.

Thursday morning, XRP fell 8.6% in major gains and losses for the currency are not news by any means. It is considered a volatile cryptocurrency but has still managed to hold the number five spot among crypto assets.

XRP sits at 64,463,773,527 as of this writing, with Cardano (ADA) not far behind and Dogecoin (DOGE) coin not too far in the lead. Their positions could quickly switch in the next few weeks, and a positional change could easily lead to a surge or severe decline.

Many analysts are advising investors to leave Bitcoin behind and go for some of the lesser known cryptos because of the kind of large gains they make, and XRP is among one of the top performing cryptos in recent months.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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