$XRP keeps trading high as the crypto market falls on binance lawsuit news: DavidGokhshtein. cz_binance
Aside from the expectations of Ripple and the XRP community to finally see the judge determine a verdict on the Ripple-SEC case in the first half of this year, the following factors likely impacted the growth: Binance announced that it will soonand the rise of XRP social dominance over other digital currencies. XRP hit the $0.49 level earlier today, regaining this price mark for the first time since early November.
The crash of the FTX exchange spearheaded by former crypto billionaire Sam Bankman-Fried back then pushed the XRP price down, as well as Bitcoin and the rest of the cryptocurrency market.CFTC sues Binance, CZ responds to that The event that has pushed Bitcoin and the crypto market down — except XRP — was the legal complaint of the Commodity Futures Trading Commission . The regulator filed the lawsuit against both Binance and its co-founder and chief executive, CZ.
The regulator claims that Binance has been breaking U.S. laws related to derivatives for years and that it should have registered with the CFTC a long time ago. According to Bloomberg, CFTC has referred to Binance's compliance efforts with it as"a sham to place profits over following the law."
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