Cryptocurrency XRP has grown by more than 57% in a month — all because of litigation

The cryptocurrency XRP, owned by Ripple, has risen in price by 57.7% in a month, all thanks to the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC).

At the time of writing, XRP is trading at $ 0.5146, down 1.21% in 24 hours. Despite the daily decline in the token’s value, analysts pointed to a positive monthly trend. Currently, the XRP rate directly depends on the confrontation between Ripple and the SEC, growing with each news about the details of the litigation.

At the end of September, when Ripple Labs filed a motion to dismiss the case, the token grew by 40%. Members of the cryptocurrency community hope that Ripple will succeed in obtaining a positive court decision. In any case, the outcome of the litigation between the blockchain and the US regulator will have significant consequences for the entire cryptocurrency industry.

The next stage in the case of Ripple and the SEC is the publication of the so-called Hinman documents. William Hinman is the former director of the SEC’s Division of Corporation Finance, and the Hinman documents refer to one of his speeches during which the regulator stated that Ethereum is not a security. According to Ripple Labs, Hinman’s documents are an important argument in the court case — if ETH is not a security, then XPR cannot be considered one either.

It is worth noting that the growth of more than 57% in a month is not the only maximum possible, according to the Simpsons' forecasts, the value of XRP will increase 1200 times. In one of the episodes, Bart Simpson wrote the following phrase on the blackboard: «XRP to hit $ 589 by EDY». Some Simpsons fans interpret this as the possible value of the XRP token, as the series' writers have repeatedly predicted historical events.