It is no news again that ripple token price has seen rebound in few days of the close of January 2021 until date despite all aspersions cast against XRP by some exchanges since SEC began to pursue its lawsuit against Ripple.
Soon after, the popularity of XRP soared in Japan.
XRP was probably the single most popular token or cryptocurrency in Japan. It was also backed by SBI.
Now, Japan’s love for XRP is being tested after the U.S. Securities Exchange Commission (SEC) filed suit against Ripple Labs in December 2020. The complaint accuses the firm of violating U.S. securities law, arguing that Ripple failed to register XRP as a security or seek an exemption before the company began selling it seven years ago.
Japan considers XRP to be a cryptocurrency, but this has no bearing on the SEC’s allegation that Ripple sold XRP in unregistered securities transactions. Likewise, the U.S. classification of the cryptocurrency isn’t likely to impact how Japan treats XRP.
Following the filing, a string of prominent crypto exchanges, including Coinbase and Binance, announced they will delist or suspend XRP from their U.S. platforms.
XRP has a strong global fanbase, and a lot of people see this lawsuit as an attack on virtual currencies in general.
Today a token of XRP goes for $0.39 around UTC 8.19 PM compared to its value of $0.2262 on 4 January 2021. Undoubtedly, Ripple has seen 72.41% increase in value just within a month duration under review as showcased in this write up.
It is now important for every investor that abandon ripple under fear of collapse to know that the present rally in ripple prices is a strong test on the viability of the asset.
I make this write up for those who feel that ripple is dead to know that it is still kicking. If you must invest afterwards DYOR and get it straight that every investment decision has always comes with a risk!
