Ripple ($XRP) seems to be heading towards its previous high from the manufactured social media rally. Even though on some exchanges like Coinbase they have disabled the purchase of Ripple ( you can still get some by buying on coinbase in BTC, transferring to an Exodus wallet and exchanging).
If it continues this move in the next few days it could surpass the previous high of $0.75. Of course, we’d all like it back to 2018 prices of $3.00 per coin. That would bring in a tidy profit.
The interesting thing here is the SEC seem to have gone quite quiet on the subject of Ripple. From Jan 29th when Ripple responded to the SEC challenge there has literally been nothing.
“In its formal response, Ripple contends that XRP is a cryptocurrency and therefore outside the SEC’s jurisdiction.”
When will governments and banks realise they have no jurisdiction over something that literally does not belong to them or even is based in their country. Simply put, governments and banks cannot control something they don’t own or have jurisdiction over.
Perhaps this bullish move on the part of Ripple is simply due to SEC inaction. Could it be the SEC has gone away and decided not to pursue the lawsuit?
The court papers are here.
My prediction is two ways — either the SEC will continue with this farce or drop it, at which point Coinbase and other exchanges will re-instate XRP and cause it to rally as volume increases.
I’m holdin’ on to the sweet Ripple (XRP) coins.