XRP Price Surges Nearly 12% Despite Overall Bearish Market

• The parties’ joint schedule plan was accepted by District Judge Torres.
• The hearing scheduled on September 19, 2022, is very important.

The price of XRP, Ripple’s native token, has increased by nearly 12% in the last 24 hours. The token’s rapid rise has propelled it into the ranks of the day’s top gainers.

Over the course of the last day, the value of most cryptocurrencies fell somewhat. The total value of all crypto assets is still less than $1 trillion. Bitcoin (BTC) and Ethereum (ETH) are two of the largest cryptocurrencies, and their values have fallen by almost 6% and 17% respectively in the previous week.

Verdict Expected Soon

The Amicus Curiae in the SEC vs. Ripple case, John Deaton, criticized the SEC for failing to prevent the XRP price spike despite low investor confidence. He noted that XRP has increased in value by 10% and LBC by 11%. Deaton stressed that the SEC has a problem with all of these tokens.

Although the legal dispute between Ripple and the SEC has entered the Summary Judgement phase, optimistic emotions towards the XRP have been on the rise. The parties’ joint schedule plan was accepted by District Judge Torres. The hearing scheduled on September 19, 2022, is, nevertheless, very important to the future of the procedure. Both the plaintiff and the defendant will submit their briefs with redactions made.

The public will not be able to see the actual declarations and evidence at this time, as stated by attorney James Filan. At $1.66 billion, XRP’s 24-hour trading volume has increased by 39% in the last week. Despite the general decline in the crypto sector, its market worth is still $18.7 billion. But the prolonged legal struggle between the SEC and Ripple has stifled XRP’s price appreciation.

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