XRP Price Hits $1, The Token Ranks 4th By Market Cap

by in Cryptocurrency News

XRP above $1

The native token of Ripple, XRP has reached a three-year high of $1.10. At the moment the cryptocurrency trades at around $1.03 ranking fourth with a market cap of over $46.6 B.

Related: XRP Surges, Breaking Its Highest Weekly Close Since May 2018

It's the first time since February 2018 that XRP crossed the $1 mark. Yesterday, April 5, the token broke its highest weekly close since May 2018.

The rally comes before the planned hearing, which will take place today at 20:00 CET. There will be a telephonic discovery conference between the sides. The community waits to get answers if the SEC can sue exchanges or retail investors for any future activity.

In December 2020, the Securities and Exchange Commission started legal actions against Ripple Labs and its executives claiming the company has sold assets worth $1.3 B through undocumented securities offerings since 2013.

Following this, many platforms announced delisting the token. Presently there are discussions on social media about relisting XRP.