XRP Jumps as SEC Drops Charges Against Ripple's Top Leaders
XRP experienced its best daily percentage gain in three months after the SEC dropped securities-violations charges against Ripple's top leaders. The world's fifth-largest digital asset rose 6.5% to 52 cents before pulling back to 51 cents at press time. The SEC agreed to dismiss allegations against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, months after the Southern District of New York said Ripple's offer and sale of XRP on digital asset exchanges did not violate securities laws.
The rally in XRP was likely powered by buyers from the spot market, with cumulative volume delta (CVD) in spot exchanges rising along with XRP's price. However, the gain fell short of ending a two-month price consolidation between 49 and 45 cents.
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