As investors grew confident that Ripple would prevail in its legal dispute with the SEC, the price of XRP increased by 20%.

On March 21, the price of XRP increased further, increasing 21% over the previous few hours.

The price of XRP increases as Bitcoin recovers $28,000

The XRP price hit a 90-day high of $0.459 on March 21, which marked the beginning of the XRP/USD pair’s rally.

The price change occurs after intraday trading saw gains of more than 2% for both Bitcoin BTC and Ether.

Ripple scores early win versus SEC

Investors appeared to be betting on Ripple winning its ongoing legal battle with the US Securities and Exchange Commission (SEC), which led to gains for XRP.

Motions by Ripple and the SEC to exclude the testimony of expert witnesses from the impending summary judgment were heard by U.S. District Judge Analisa Torres on March 6. Torres partially granted and denied the motions, emphasizing that there was no clear winner or loser in the case.

The removal of the so-called “Expert No. 1,” Patrick Doody, who the SEC had called as its main witness to discuss the perceptions of a reasonable XRP purchaser, however, gave XRP market participants hope that Ripple might actually prevail in the lawsuit.

In other words, the SEC’s claim that Ripple misled gullible investors by marketing XRP as an unregistered security may be refuted.

Brad Garlinghouse, the CEO of Ripple, stated that he anticipates the lawsuit to be resolved “in the coming single digit months,” as Godleak reported in January.

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Despite macro pressure, XRPL users surge

Ripple was exposed to Silicon Valley Bank, which recently filed for bankruptcy, in addition to regulatory pressure. On March 12, Ripple CEO Brad Garlinghouse reassured the neighborhood that the business is in good financial shape.

Ripple’s XRP ledger is still expanding despite the difficulties currently affecting the cryptocurrency market. On February 23, there were almost 5 million total XRP accounts.

Any good or bad news about the SEC lawsuit is sure to have a big impact on the price of XRP even as Ripple keeps onboarding users to the XRP ledger.

There are no recommendations or investment advice in this article. Every trading and investment decision carries risk, so readers should do their own research before choosing.