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Cryptocurrency world is nearing the third year of the legal battle between Ripple and the SEC. The duration of the case inevitably affects the price of XRP. Statements from Ripple occasionally emerge regarding the process. The SEC has already expressed its stance through legal filings. Ripple’s CEO has made comments about the lawsuit. Let’s delve into the details.
Ripple CEO Emphasizes Importance of Court Decisions
Ripple CEO Brad Garlinghouse has made strong criticisms about the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against his company. Garlinghouse particularly emphasized why the company has to rely on judicial decisions for regulatory clarity and a potential XRP ETF. Despite being a giant in the payment transfer field, Ripple is calling for more security and legal clarity in the crypto world.
Garlinghouse likely referred to Judge Analisa Torres’s decision that XRP is not considered a security, stating that the SEC consistently loses lawsuits it brings against companies like Ripple and Coinbase. As the lawsuit between the SEC and Ripple progresses in search of resolutions, Garlinghouse shared his views on how the company is dealing with regulatory pressures.
What’s the Status of XRP Price?
Today, the altcoin XRP’s price has followed a stable course above the $0.55 level with a 1% decrease. This movement, along with the cryptocurrency’s recent fluctuations, indicates a certain level of stability.
Technically, the price of the altcoin XRP is trending above the $0.55 level and continues its upward trajectory. However, it is facing resistance at Fibonacci retracement levels. Breakthroughs at these levels could determine the future movement of the price.
The Moving Average Convergence Divergence (MACD) indicator supports positive momentum, while the red bars on the Awesome Oscillator (AO) suggest the uptrend is uncertain. A daily candlestick falling below a certain Fibonacci correction level could confirm a downward trend and lead to a price pullback.
It is important to note that the cryptocurrency XRP price is influenced by statements from the Ripple side. On the other hand, any statement from the court could also affect the price. This situation represents a level of uncertainty for the altcoin XRP, making it beneficial for investors to be aware of these details.
