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XRP Posted A Nice 11% Gain In 24 Hours

XRP Posted A Nice 11% Gain In 24 Hours
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The situation in the markets

XRP is trading at $0.492 which represents a nice 11% uptick in 24 hours. And the crypto asset MKR is trading at $775, showing an increase of 7%.

Bitcoin (BTC) and Ether (Ethereum) traded with subtle changes of $19,500 and $1,340 respectively.

XRP has commercial value as it has outperformed the market as a whole in the hope that the long-running legal dispute between Ripple Labs (a San Francisco-based company) and the US Securities and Exchange Commission will be resolved soon.

On Sept. 29, a U.S. District Court judge ordered the release of documents about a 2018 speech given by then-SEC Director of Financial Corporations William Hinman.

In this speech, Hinman said that Ethereum, the second largest cryptocurrency, does not add value.

A comment that Ripple Labs wants to use as a defense against the SECโ€™s accusation that Ripple violated securities laws by raising $1,300 million through the sale of XRP to investors between 2013 and 2020.

Earlier this month, XRP broke above the multi-month bear market trend line and was trading above its 200-day moving average at press time.

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