Ripple, one of many altcoins in cryptocurrency has done well. The price-performance and the general trend in the protocol’s ecosystem have made this crypto one of the outstanding long-term and short-term investment choices.
Ripple currently ranks 6th according to CoinMarketCap. It boasts a market capital of more than $40 billion.
Many in the XRP Community are now expressing concern about what the next steps might be after the Ripple case and the SEC scandal.
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This was after three separate documents had been unsealed. However, John DeatonThe cryptocurrency lawyer who represents more than 64,000 holders of XRP, offered some options to help calm things down. First, he said that SEC will likely make two moves.
From the new evidence, there’s an inclusion of the email thread and deposition notice of Brad Garlinghouse, Ripple CEO. The evidence also includes the testimony of Chris Larsen (a Ripple executive).
According to Deaton’s suggestion, substantially proving the link between Ripple’s public announcements and XRP price would be a near impossibility. Deaton also stated that Larsen and Garlinghouse had to have confirmed the sale in U.S. of XRP tokens.
The lawyer also considered whether the SEC might claim that Ripple has created a secondary market to XRP. If they are unable to prove that Ripple executives were selling XRP in America, this could be an alternative strategy.
Deaton has yet to be able to see the unsealed document, despite having amicus counsel status.
Ripple (XRP), Prices Increases, Aims To Touch $0.90
On the 4-hour chart, you can see that XRP prices are finally on the rise. The price of XRP is on the rise, with its goal to reach $0.90. The crypto might have to deal with some difficulties in reaching its goal.
XRP prices will face a lot of challenges as they rise above $0.90. This resistance bridge is the Momentum Reversal Indicator MRI (MRI) and the 78.6% Fibonacci retracement.
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Once there’s an increase in the buying orders, the bullish trend of the XRP price will likely get to a new high. However, if selling demand increases, the price of XRP may drop to $0.69 (Simple Moving Average).
Featured image taken from Pixabay. Chart from TradingView.com