Ripple (XRP) Gains 16 Percent Reclaims 4th spot Flipping Litecoin (LTC) Back Down Amid SEC Worries

By: Dickson Arinze

January 08, 2021 8:20 AM

It's been a turbulent few months for the 4th largest cryptocurrency by market cap Ripple (XRP).

Ripple labs inc has been in the U.S SEC nest after a recent lawsuit against XPR by departing SEC chairman Jay Clayton who is leaving as a result of a change in Government.

Ripple has experienced a free fall losing over 80% and climbing down the latter to 5th, with investors submitting a petition to SEC over branding ripple security, it has gradually regained its confidence among investors.

Ripple (XRP) has gained over 16% in the past 24hrs and 37% over 7 days period and is currently trading at $0.30 with a daily trade volume of $14.8M, it is currently ranked 4th after reclaiming it's position from 5th to 4th after being surpassed by Litcoin (LTC) early hours of Sunday.

XRP road to recovery will be a rough one as its investors are uncertain about the outcome of the lawsuit a case that could linger on for year's, with major exchanges delisting XRP with bitcoin.com exchange being the latest to follow a host of others.

Ripple and Litcoin upside movement is largely down to Bitcoin, as BTC broke the $40k mark investors will look to alts for major profit which has caused XRP, LTC to taste the green candle with Ripple gaining 16% and LTC approaching $155.