Bitcoin & Co: Top coin jumps 30 percent – ​​this index benefits

While the crypto market is recovering ahead of the weekend after renewed price losses related to the latest US interest rate hike, one coin in particular stands out: The price of Ripple (XRP) is trading nearly 30 percent higher on a 24-hour basis on Friday morning. THE SHAREHOLDER explains what is behind it.

The US Securities and Exchange Commission and the blockchain company Ripple Labs, which is behind the cryptocurrency XRP, have been engaged in a legal dispute since December 2020 over whether or not the latter is a security within the meaning of the US Securities Act. Now the long process is finally coming to an end.

In the past few days, both parties in the dispute have submitted applications for a so-called “summary judgment” to the competent district court in New York. This prompts the court to make a timely judgment based on the available evidence.

According to James K. Filan, one of the lawyers representing Ripple in the process, a verdict can now be expected in mid-December.

The mere prospect of an end to the protracted legal battle is cause for celebration for many crypto investors. Some Ripple supporters even see the fact that the SEC has refrained from providing further evidence as an admission that the regulator no longer has any solid evidence for its arguments.

Recovery rally is already underway

As a result, the price of XRP has already risen against the market trend in the past few days. On a 7-day perspective, there is an increase of around 65 percent. In the past 24 hours alone, XRP has gained about 30 percent as the biggest gainer among the top 100 cryptocurrencies by market capitalization. At $0.55, the price has reached its highest level since the beginning of May.

Ripple
(ISIN: CRYPT0000XRP)

Although the end of the process is now in sight, the outcome is of course difficult to predict. So the level of uncertainty remains high for now. In addition, the difficult macro environment is a stress factor for the entire crypto market. Investors speculating on a comeback need a lot of patience and strong nerves.

If you want to avoid signing up for a crypto exchange, you can put the participation certificate (WKN A2URRU) on the new crypto TSI index from DER AKTIONÄR as a speculative addition to your deposit.

The Crypto TSI index includes ten cryptocurrencies that are characterized by particular trend strength according to the proven TSI system. In addition to the top dogs Bitcoin and Ethereum, XRP from Ripple is also included with a current weighting of 11.7 percent.

More information can be found here.

Notes on conflicts of interest:

The securities shown are bearer bonds. As a starting point, the investor bears a significant risk of price loss up to and including total loss in the event of a price loss of the underlying asset or in the event of the issuer’s insolvency. A detailed description of possible risks and details of the product terms can be found in the offer documents (the final terms, the relevant base prospectus including any supplements thereto and the registration document (“Prospectus”). The securities are products that are not simple and may be difficult to understand.

The price of the financial instruments is derived from an index as an underlying. Börsenmedien AG has developed this index and owns the rights to it. Börsenmedien AG has entered into a cooperation agreement with the issuer of the presented securities, according to which it grants the issuer a license to use the index. In this connection, Börsenmedien AG receives remuneration from the issuers. Further information can be found at: www.deraktionaer.de/invest

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