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Why XRP Is Rising (Again) Today

TheMotleyFool

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Why XRP Is Rising (Again) Today: https://g.foolcdn.com/editorial/images/726374/generic-upward-15.jpg

After a nice move yesterday, the price of XRP (CRYPTO: XRP) continued to climb higher today, along with the broader market. Since late afternoon yesterday, the price of XRP traded roughly 9.5% higher as of 11:09 a.m. ET.

There are two main things that seem to be moving XRP, which was created by the company Ripple. The first looks to be tied to the broader crypto market, which shook off recent regulatory concerns and looked toward a potential pivot on interest rates by the Federal Reserve.

The other has to do with an ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). In 2020, the SEC sued Ripple for allegedly selling unregistered securities when the company raised $1.3 billion in an initial coin offering.

Source Fool.com

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