The latest developments in the Ripple-SEC lawsuit have sparked a resurgence in Ripple‘s XRP. Capturing a strong upward momentum since the start of the week, XRP has recorded an increase of over 8% in value within the last week, starting to trade at $0.46 price levels. According to CoinMarketCap (CMC) data, following this recent surge, XRP ranks among the top 100 cryptocurrencies with the highest value increase in the last week.
Fresh Developments in Ripple-SEC Lawsuit
The Ripple-SEC lawsuit has recently seen some significant developments. The trajectory of the case and these recent events have prompted XRP to spring back into action. Yesterday, an important development occurred in the Ripple-SEC lawsuit, with Ripple and SEC acting jointly in this regard.
Fox Business reporter Eleanor Terrett shared on her Twitter account that Ripple and SEC jointly requested a one-week extension to file the Hinman documents and other requested paperwork. The newly requested date for filing is June 13, 2023. Judge Torres accepted the extension request till June 13.
The Current State of XRP
Despite its recent losses and a lack of clear upward momentum in the last week, the leading cryptocurrency, Bitcoin (BTC), fell below the $27,000 price level. Contrary to the overall bearish trend in the cryptocurrency market, XRP has been on the rise since the beginning of the week, diverging positively from the market.
XRP, having recorded a value increase of over 8% in the past week, rose from the $0.42 price level to $0.46. Following these surges, according to CMC data, XRP is among the top 100 cryptocurrencies with the highest value increase in the last week.
