As the US Securities and Exchange Commission (SEC) lawsuit against Ripple approaches its end, the crypto community and analysts continue to share their opinions on the litigation process.
Finally, Galaxy Digital CEO Mike Novogratz stated in a recent post on his Twitter account that the SEC-Ripple case did not affect the XRP price.
The famous CEO stated that, based on his observations about the controversial cryptocurrency XRP since the beginning of the lawsuit, the price of XRP managed to triple.
the value of $XRP has actually almost tripled since the SEC actions. It hasn’t plummeted. It’s a testament to the fact that once communities are formed with shared interest they are damn resilient. https://t.co/0IPcd8wyuN
— Mike Novogratz (@novogratz) October 17, 2021
Novogratz, who has criticized XRP many times before, stated that XRP’s strong struggle is due to the stance of crypto money communities with common interests.
Although the XRP price dropped by about 60% after the SEC filed the lawsuit, the cryptocurrency managed to recover quickly after the strong struggle of the Ripple company.
XRP hit its yearly high in April 2021, following its recovery and rise after its steep fall. While some members of the XRP community said that the price rise was suppressed in April, Novogratz stated that the 4-fold increase in the XRP price made no sense to him.
XRP continues to trade at $1.08, which is approximately 65% lower than its all-time high.
*Not investment advice.