XRP is topping the crypto charts outperforming all other major cryptocurrencies. The price finally hit its very bullish target of $0.50 while the rest of the market takes a tumble in response to the CFTC’s lawsuit against the CEO of Binance.

XRP is trading at its highest level in the past five months despite the crypto market taking a knock in response to a lawsuit filed by the Commodity Futures Trading Commission (CFTC) against Changpeng Zhao, the CEO of crypto exchange Binance. The CFTC has accused Zhao of insider trading and evading KYC regulations. Zhao responded to the allegations by calling the suit “unexpected and disappointing” and denied any wrongdoing on his or Binance’s part.

At the time of writing, XRP was trading at $0.50, according to data from CoinMarketCap, representing a 25% rise over the past week.

Popular crypto influencer David Gokhshtein was one of the first to notice XRP’s breakout, tweeting:

The entire market dumped on the news except for $XRP.

— David Gokhshtein ®️ (@davidgokhshtein) March 27, 2023

Cointelegraph reports that XRP whales have been steadily accumulating since February as only days remain until the SEC vs Ripple lawsuit could produce an outcome. Crypto lawyer John Deaton took to Twitter to share his take on the controversial lawsuit. Deaton opined that XRP has by far the most attractive risk-to-reward ratio.

XRP has the most attractive risk/reward ratio IMO. The Judge’s rul

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Author: Jana Serfontein

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