Afterwards the United States Securities and Commutation Committee initiated a lawsuit confronting Ripple alleging that the firm had been indulging in the sale of securities worth $1.iii billion, a number of prominent exchanges across the globe (including Coinbase, Kraken and Okcoin) proceeded to delist Ripple'due south native cryptocurrency, XRP, from their platforms.

As a result, many across the earth idea it was simply a matter of time before the once-promising projection died a wearisome-but-sure expiry; nevertheless, it seems that XRP has been on a tear ever since the bad news dropped, with the cryptocurrency'southward value having risen by over 100% since the start of April — currently trading at around $1.03.

Back in December 2022, the SEC filed a lawsuit confronting Ripple Labs, its CEO, Brad Garlinghouse, and chairman, Christian Larsen, alleging that they had participated in an "unlicensed security offering" back in August 2022. Not only that, the regime body further accused Garlinghouse and Larsen of failing to register their personal XRP sales — estimated to be worth $600 1000000 — with the regulatory body.

In plow, Ripple'southward defense counsel has challenged the SEC's suit, stating that the XRP token is similar to other prominent cryptocurrencies, such equally Bitcoin (BTC) or Ether (ETH), both of which take been classified as commodities by the SEC. Furthermore, Ripple's legal team has besides highlighted the fact that it took the committee more than eight years to file its complaint.

And then, what has actually caused XRP'southward price to surge? José Maria Macedo, a partner at cryptocurrency analysis business firm Delphi Digital, told Cointelegraph that in his view, this latest budgetary upswing comes alongside a broader ascension in other old-timer altcoins such every bit EOS and Stellar (XLM) and a reduction in BTC'due south overall market dominance.

He added that XRP's performance tin can, most likely, be attributed to positive news surrounding Ripple's SEC example, particularly as information technology relates to its win in a recent discovery hearing, which will forcefulness the SEC to hand over its internal documents on Bitcoin and Ether. Macedo opined: "This is a victory for Ripple and for the crypto space as a whole, every bit these documents will hopefully help shed light on the SEC'due south rationale regarding tokens every bit a whole."

XRP: You either love it or detest it

XRP has been ane of the most divisive cryptos in the cryptocurrency community for years, and its recent rails record was beginning to prove its detractors correct. However, the currency's recent ascent has been nothing short of meteoric. Providing his take on the subject, Sheraz Ahmed, host of the Crypto Valley Association podcast and managing partner at Tempest Partners, a crypto and blockchain solutions provider, told Cointelegraph:

"XRP's up momentum is fueled by Ripple's newly announced 40% stake in Asia'southward leading cross-edge payment processor, Tranglo. The partnership will undoubtedly increase Ripple's exposure to the Asian market. Its cost rally can too be attributed to a potentially looming ease in regulations should Ripple attain a consensus with the incoming Gary Gensler-led SEC assistants."

He pointed out that Ripple co-founder Brad Garlinghouse had before expressed optimism in the new chiffonier, stating that his team plans to agree progressive discussions with the new SEC executive contumely. According to him, Ripple has continued to bear witness that its potential is limitless, peculiarly when operating within a crypto-friendly setting.

Lastly, Garlinghouse has previously lambasted U.S. regulators for lacking clarity later drawing comparisons with other avant-garde countries where Ripple has thrived in the past. "His assertions seem to hold water considering that the regulatory framework in many parts of Asia and the Heart Eastward has spurred Ripple'due south growth. Exchanges may reconsider their decision to delist the coin in the coming weeks," Ahmed concluded.

XRP gains social media traction again

Justin Barlow, a research analyst at The TIE — a provider of alternative data for digital assets — told Cointelegraph that post-obit Ripple's acquisition of a twoscore% stake in Tranglo, the company saw an immediate fasten in its price and tweet volume.

Every bit tin exist seen from the chart higher up, digital mentions in relation to XRP take been picking up aslope the currency's cost over the last week, with tweet volumes hitting a new monthly loftier as well. Barlow added:

"Ripple is likely seeing interest overseas as information technology remains listed on international exchanges and has not (yet) been subject to the same regulatory scrutiny overseas that it has in the U.S. I am non an attorney, but I don't retrieve a U.Southward. substitution volition relist XRP if the SEC asserts it is a security due to the potential regulatory implications."

I affair to annotation is that the Asian and Centre Eastern crypto markets don't withal have a huge regulatory setup that establishes the rules of the game like the SEC. On the one paw, this sort of framework allows new promising projects to feel comfy and develop faster. But, on the other hand, it also sometimes results in the springing up of many scams.

Thus, it stands to reason that while trading platforms that are directly affiliated with the SEC may not get involved with XRP past actively opposing and contradicting the committee's wishes, non-affiliated platforms may once once again brainstorm to list Ripple, specially if information technology continues to showcase such a high level of monetary traction in the well-nigh hereafter.

What lies ahead for XRP and crypto?

Slowly simply surely, it appears as though cryptocurrencies are proving to be more resilient when information technology comes to whatever form of governmental pressure that may be placed on them, equally is best highlighted past XRP's most recent rebound. On the subject, Muzzle Chen, chief technical officer of decentralized cross-concatenation asset management platform Cook Finance, told Cointelegraph:

"Some countries face massive currency-burdensome aggrandizement; some countries have incredibly low annualized boilerplate incomes; and some countries are dominated by authorities intervention and ascertainment. If a cryptocurrency is readily available, financially sound and shows optimistic future projections, people will turn to it equally a replacement financial instrument to fiat currencies."

In regard to where XRP might exist heading in the near term price-wise, Thomas Ménard, development manager at Diabolo.io — a social crypto trading platform — believes that if the digital asset market at large is able to go on upwardly its performance, the industry might be in for large things, adding: "If altcoins keep in their momentum, XRP'due south upward movement could take it to several dollars per unit and thus catch up with the market."

All the same, with regulators all over the world taking stronger stances against various digital assets, it stands to reason that an onslaught of bad news in relation to some currencies for an extended period of time could potentially have an adverse impact on their image and power to operate — to the point where even their diehard army of supporters may not be enough to save the day.