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XRP Rallies to 39-Day High as Ripple CEO Says His Company Will Prevail Against SEC

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Fri, 04/02/2021 - 17:40
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Alex Dovbnya
XRP has hit a five-week high after Ripple signaled confidence in its victory over the SEC
XRP Rallies to 39-Day High as Ripple CEO Says His Company Will Prevail Against SEC
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Ripple-affiliated cryptocurrency XRP soared to $0.609 at 4:37 p.m. on the Bitstamp exchange. It has since pared some of its gains. 

XRP
Image by tradingview.com

XRP managed to reach its highest level since Feb. 22 when the token briefly soared to $0.65.

Related
"Problematic" and "Troubling": SEC Claims That Ripple Continues to Obscure “Critical Facts”

Ripple is confident in winning the lawsuit 

The token suffered a massive crash in late December after Ripple was taken to court by the U.S. Securities and Exchange Commission.  

XRP holders—who have recently been allowed to file a motion to intervene in the case—claim that the complaint caused "billions in damages."

As reported by U.Today, Ripple CEO Brad Garlinghouse expressed his confidence that the blockchain company would "prevail" in the lawsuit against the agency during his most recent interview with CNN's Julia Chatterley.

The legal battle is now stretching into its fourth month.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.