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Crypto investors seem to be enjoying a sense of relief in the past few months, amidst a broader market recovery after one of the worst downturns for the industry in 2022. 
<h2 style="text-align: justify;" id="ripple-sec-case-and-xrp-price">Ripple SEC Case and XRP Price</h2>
Despite ongoing litigation against the U.S. Securities and Exchange Commission (SEC) and uncertainty regarding its regulatory status as a security, Ripple&#8217;s XRP continues to be a noteworthy cryptocurrency. 
Last week, XRP&#8217;s price surged by approximately 12%, surpassing the $0.5 threshold. On Wednesday, May 31, the cryptocurrency was trading at $0.51, reflecting a 1.58% increase within the day. Currently, XRP is experiencing a support level of $0.48689, with the resistance threshold standing at $0.54383. 
Interestingly, at the start of this week, renowned legal expert John E. Deaton expressed his surprise at how many crypto investors overlooked the opportunity to purchase <a href="https://en.coin-turk.com/xrp-coin-ripples-upcoming-endeavours-and-future-price-predictions/" target="_blank" rel="noopener" data-wpel-link="internal">XRP</a> at a relatively low price like $0.48. He added that he expected a FOMO surge to around $2 after the lawsuit is resolved, a level that XRP hadn&#8217;t seen even during a bullish period. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-81462 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/xrp.png" alt="" width="1960" height="938" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/xrp.png 1960w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-300x144.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-768x368.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-1536x735.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/xrp-1200x574.png 1200w" sizes="(max-width: 1960px) 100vw, 1960px" />
<h2 style="text-align: justify;" id="why-is-xrp-surging">Why Is XRP Surging?</h2>
There are several factors contributing to the recent surge of XRP. Most recently, the sixth-largest cryptocurrency by market capitalization grabbed market attention on May 30, following a significant increase in network activity. 
On May 27, the blockchain recorded an unexpected surge in its daily active addresses (DAA), reaching 490,000, indicating the second-largest address activity on the network. This increase came just a few months after the DAA soared to an all-time high of 880,000. 
Prior to this, XRP&#8217;s price climbed following a significant victory in Ripple&#8216;s legal dispute against the SEC. Specifically, on May 17, U.S. District Judge Analisa Torres halted the SEC&#8217;s attempts to seal &#8216;Hinman documents&#8217; that referenced the regulator&#8217;s internal communication about former Division Director William&#8217;s remarks that Bitcoin (BTC) and Ethereum (ETH) were not securities. 
The post <a rel="nofollow" href="https://en.coin-turk.com/ripples-legal-battle-and-xrps-market-performance-amidst-crypto-recovery/" data-wpel-link="internal">Ripple&#8217;s Legal Battle and XRP&#8217;s Market Performance amidst Crypto Recovery</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Ripple’s Legal Battle and XRP’s Market Performance amidst Crypto Recovery

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