XPR MarketCap Surged by $2.8B in 24hrs Despite Ongoing Lawsuit

Despite the ongoing lawsuit with the US Security Exchange Commission (SEC), the market capitalization of Ripple (XRP) has surged by $2.8 billion or 81.04 percent in trade volume in the last 24 trading hours.

At press time XRP is currently up by 8.66 percent in the last 24 hours, trading at $0.7759 according to CoinMarketCap data. Within 24 hours, XRP has recorded an inflow of over $2.8 billion, pushing the market capitalization to $37.3 billion.

XRP token has seen significant increase in the last 24 hours, and it is the token that has had the most gains out of the top 100 cryptocurrencies by market capitalization.

Speaking about the ongoing lawsuit, Brad Garlinghouse the CEO of Ripples said that the court battle with the United States Securities and Exchange Commission was going “exceedingly well.”

The recent optimistic statements made by Ripple’s CEO on the long-running lawsuit against the company seem to be supporting the current increase in the price of XRP. According to Mr. Garlinghouse, the commission’s investigation into their case is approaching a conclusion.

Speaking with CNBC, Garlinghouse emphasized his delight that the case is progressing much more smoothly than he had anticipated. Because the matter has been dragged out for more than 15 months, he feels that the court system is far slower than it should be.

He argued that this action is crucial not just for Ripple but also for the whole cryptocurrency sector.