The price of XRP, the seventh-largest cryptocurrency by market capitalization, blew up by 9% in the last 24 hours to hit $1.19.
Its rise followed several strong maneuvers by XRP progenitor Ripple this week in the tenth month of its courtroom battle against the United States Securities and Exchange Commission.
Since December 21, 2020, Ripple has locked horns with the SEC in a grueling legal spat. The SEC alleges that Ripple made $1.38 billion by selling XRP as an unregistered security. Ripple denies that these sales constitute securities offerings.
On Thursday, Ripple filed a letter to US Magistrate Judge Netburn calling out the SEC for negligence in its handling of the case after Ripple received barely any answers to the 30,000 Requests for Admission (RFAs) it has lodged with the SEC since the case began.
