• rippleXRP$1.58-3.14%

Legal Risk Factor Beneath Ripple’s Lawsuit from SEC – Finance Magnates

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RippleRippleBy way of comparison, the recent favorite of social media and Elon Musk – Doge Coin – soared less than 200% during the same period before 16 April 2021. However, the capitalization of Dogecoin is almost five times less than that of Ripple, which has recently crossed b and makes it the 4th biggest cryptocurrency in the world. Capitalization is important for cryptocurrencies in that, the more money there is in the cryptocurrency, the bigger number of sellers when its price gets too high, requiring, thus, more buyers to keep the price afloat.Author: Ildar Sharipov, President of InstaForex Group

What has caused unprecedented raise of Ripple?

During the recent two weeks, Ripple soared by almost 300%. This might be comparable to the significant moves in other cryptocurrencies but, what many people may fail to realize, it is very unusual for a cryptocurrency that has the level of capitalization that Ripple has.

As always in financial markets, news moves the price. During the past two weeks, since the end of March 2021, Ripple was benefiting from the flow of positive news from the legal field (its lawsuit with the SEC and the associated court rulings), which caused euphoria among investors, popping its prices to all-times highs with
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