The value of Ripple’s XRP token soared to $1.09 on April 6, 2021, making it the first time the crypto has surged past the $1 mark in nearly three years. The token’s new 52 week high has coincided with an altcoin price rally which has seen the value of some tokens surging to new all-time highs. However, at the time of writing, XRP had retreated to just under $1 as the altcoin rally appeared to tapper off.
Token Defying SEC Lawsuit
Meanwhile, XRP’s rally, which has seen the value of token more double in the past seven days, comes as the token issuer, Ripple continues to battle the U.S. Securities and Exchange Commission (SEC). In its latest piece on the SEC vs Ripple legal battle, Bitcoin.com News reported that a U.S. Court had stopped an attempt by the SEC to block XRP holders from joining the case.
In late December 2020, the SEC sued Ripple after accusing the fintech firm of issuing securities (XRP tokens) in violation of the U.S….