“24H volume on XRP on Sunday was over $26 billion. Even if each of the groups’ members dropped $5,000 on XRP, that equates to 2% of the total daily volume. Let’s be rational here – no Telegram group is pumping the 5th largest coin in the space,” CredibilityCrypto added in a follow-up post.
XRP healed from the SEC charges collateral damage
Now with the latest XRP price surge — the cryptocurrency healed from the SEC charges. The cryptocurrency added $13 billion to its market capitalization. Additionally, XRP is now the 3rd most valuable digital token with a market cap of more than $26 billion — more than the currency’s market cap before the SEC lawsuit.
Meanwhile, Ripple labs commented on the SEC’s allegations. The company said that the U.S. Department of Justice (DOJ) and the Financial Crimes Enforcement Network both recognized XRP as a digital currency.
In conclusion, Ripple CEO, Brad Garlinghouse said in a tweet: “Our defense begins today. Innovation is on trial, and we stand shoulder to shoulder with our partners & the community to defend it. Together, with appropriate regulatory oversight, we can modernize outdated laws that clearly aren’t working to protect consumers and ensure orderly markets.”