The post Is SEC The Reason Behind Ripple’s (XRP) Price Surge? appeared first on Coinpedia Fintech News
Ripple (XRP) investors have reason to celebrate as XRP recorded huge gains over the past few days, rallying more than 50% in a week. Famous YouTuber Ben Armstrong tweeted about the reason for the unexpected surge. According to Armstrong, it is because the Securities and Exchange Commission (SEC) has given up trying to prove that the coin is a security. He also added that Ripple enthusiasts are confident that the XRP will face just a fine instead of a blanket ban from operating in the US, in case Ripple loses the lawsuit.
Founder of crypto law, John Deaton, reacted to Armstrong’s tweet, saying the SEC stopped relying on one of its experts. Supposedly, the expert wanted to prove that XRP investors counted on making a profit when acquiring the asset class. This also pushed the investors to believe that the judgment could actually favor Ripple.