XRP Price Surges 20% Amid Ripple Vs. SEC Case Speculations

• Ripple’s XRP price has increased by 20% in the last 24 hours.
• Analysts attribute this increase to widespread adoption of XRPL technology, a recent partnership with GOSH charity, and developments in the Ripple vs SEC lawsuit.
• Recently, Ripple filed a notice of supplemental authority in court to strengthen its defense.

XRP Price Surge

XRP surged by 20 percent in the last 24 hours, sending the price to $0.457475. In the last seven days, the price has surged by 21 percent to move its market cap from $20 billion to $25 billion.

Drivers for Price Increase

Analysts attribute this increase to three primary drivers: widespread adoption of XRPL technology, a recent partnership with Great Ormond Street Hospital Children’s Charity (GOSH) and developments in the Ripple vs SEC lawsuit.

Adoption of XRPL Technology

The XRPL provides a digital payment data infrastructure for individuals and financial entities. Since February, its adoption has seen a significant surge causing an increase in demand for XRP. Users continue exploring potentials of XRPL with an aim to revolutionize global financial system that could further push prices higher on the curve.

Partnership with GOSH Charity

XRP recently partnered with UK’s major charity non-profit organization GOSH that focuses on helping children suffering from cancer which likely contributed to the asset’s current positive sentiment and rally among investors.

Update on Ripple V SEC Lawsuit

On March 6th 2021 District Judge Analisa Torres ruled on motions filed by both parties; she disregarded some comments by expert witnesses from upcoming summary judgment but didn’t declare clear winner or loser as she partly approved & denied motions . Subsequently , Ripple filed Letter Notice of Supplemental Authority in court attempting further strengthening their defence against SEC .