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The pump behind Ripple (XRP)

Ripple has been stagnant in the last couple of weeks and not joining the astronomical highs of other altcoins. This is mainly because of U.S. Securities and Exchange Commission (SEC), along with its claim that XRP violated the regulation securities laws. This creates a massive huge shock to its investors and stockpiles of the dump were seen. The price plummeted in roaring support levels. 

XRP threw a Rebuttal to SEC

Ripple Labs has finally thrown its rebuttal statement stressing that XRP is not a form of securities or not an investment contract and therefore not part of SEC's jurisdiction. This is also being backed by government agencies such as the U.S. Department of Justice and the Financial Crimes Enforcement Network (FinCEN) that XRP is not a security. Furthermore, other regulators including the U.K. Financial Conduct Authority (FCA) and the regulators in Singapore and Japan have attested that XRP is not a security. 

Ripple stated that they are just a cryptocurrency compared to Bitcoin and Ethereum even in a friendly manner as they do not engage in the mining process in acquiring tokens. They submitted a 93-page document, also requested a Freedom of Information Act request on how they were to determine that Bitcoin and Ethereum are not securities. 

Ripple back to compete for BTC and ETH

Seeing the potential on how XRP immediately turned the table upside down. Still, remains in the top 10 of most traded cryptocurrency in the world, finally reclaim back its rightful trading price. Considerably be right back on track to compete along with the two largest giants in the crypto world which are BTC and ETH. The determination is still the same for XRP to provide cheaper and more transparent global payments to consumers with fewer transaction fees. 

XRP's Rally in the last three days 

Ripple finally recovered from its bloodbath days and has been up for 105% in the last 3 days. This could potentially create again another all-time high surpassing $0.78. Technical Analysis for XRP shifted into a bull pattern as it just touched the lower strand of Bollinger Band and stretches the band even more. Seeing also the buying pressure from the market as the volume rose astronomically in the last three days. 

On the Fundamental Analysis side, this news created a massive impact for XRP to change its direction. Thus, we will be seeing more from XRP in the next couple of days. 

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