Ripple: XRP set to outrun Usain Bolt
Ripple’s XRP saw an increase in the last day, which generated new positive sentiments in the market as experts predict it will break the $3 mark soon
Market indicators indicate a critical market inflection point because the remittance token’s 4-hour resistance barrier has been breached, and a Golden Cross pattern on the Relative Strength Index (RSI) indicates increasing price speed.
Market analysts maintain that XRP must remain above $2.22 to confirm its trajectory toward $5.85.
The US Securities and Exchange Commission (SEC) has adopted a completely new position in the cryptocurrency sector since the departure of former chairman Gary Gensler. R
In a recent statement, attorney Fred Rispoli said he has a fresh take on the case. He thinks “no reason why the current 2-1 pro-crypto Commission would not stay the $125M judgment in place and drop the appeal.”
The multi-million dollar fine refers to Judge Torres’ decision from last summer. She ordered Ripple to pay the amount for violating certain rules at the time. Even though the company’s leaders were willing to pay the settlement, the regulator filed a last-minute appeal, prolonging the dispute indefinitely.
American lawyer James Murphy the case may still be open because the firm may be “trying hard to get the SEC to agree to vacate some or all of Judge Torres’ decisions,”
The $125 million fine, is “great” for XRP holders, but he insisted that Ripple’s reputation would suffer more from the discovery that it had broken some laws.
Anthony Scaramucci, a former official in the White House, thinks the lawsuit is finished. In a recent interview, he listed the Ripple case as one of the recent ones the SEC has dropped. This assumption aligned with Scott Melker, also known as The Wolf of All Streets, who hosted the discussion.
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