The XRP price saw a significant rise after the rumors spread about the Upcoming SEC Case Decision Against XRP. Leaving behind the market trend, XRP gained 6.11% in the last 24 hours and traded at $0.46.
On July 4, XRP closed its daily trading at $0.4256 by witnessing a decline of almost 7.32% in its price, which is the lowest point it touched since March. The recent price jump makes people curious about the reason behind it. Some of them assumed the inside information about the upcoming SEC case decision against Ripple resulted in the rise of its price.
Now, the final issue being discussed is the number of penalties to charge. This theory is backed by the last decision in this case, which happened about a year ago, on July 13. At that time, XRP was declared a non-security, and its price doubled in just 24 hours./
Since the beginning of 2024, the token has had a continuous inflow of funds despite the major outflows in the other crypto assets. Till now, it has absorbed almost 18 million of new capital. The inflow follows last year’s trend, when XRP experienced a continuous inflow from March to July 2023.
People are observing the market, and excitement builds about the Ripple vs. SEC decision. Despite challenges in the market overall, investors are curious about how this ruling might affect XRP’s price in the future.
