Ripple’s CEO addresses SEC’s allegations while XRP regains lost ground

Brad Garlinghouse, CEO of Ripple has made a public statement on Twitter regarding the SEC allegations
XRP price already jumped by more than 30% in the past 24 hours hitting $0.369.

Brad Garlinghouse, the CEO of Ripple, issued a public statement on Twitter stating that although he can't talk about everything, he will address five key questions that he considers common among investors.

Garlinghouse states that Ripple did try to settle with the SEC and will try again now that the new administration is in place. Garlinghouse also explains that Ripple didn't pay most exchanges to list XRP as it is one of the most liquid and traded cryptocurrencies in the world. The CEO argues that Ripple has no control over most exchangs.

Additionally, Garlinghouse has also explained that although it might look like nothing is being done, a lot is happening behind the scenes. The legal process with the SEC has been rumored to last even until the end of 2021 and Garlinghouse has fueled those rumors stating that the process can be slow and that Ripple's initial response will be filled within the next few weeks.

And that’s what I have for you today! No one is being silent, nor will we give up this fight. We’re on the right side of the facts and of history, and look forward to our day in court - as well as engaging with the new SEC leadership once appointed. 10/10
— Brad Garlinghouse (@bgarlinghouse) January 7, 2021

XRP price jumps 50% but gets rejected at $0.37

Before Garlinghouse's statement on Twitter, XRP price was breaking out and sliced through several resistance levels on the 12-hour chart. Unfortunately, after peaking at $0.37, the digital asset plummeted down to $0.2885 and it's now trading at $0.32.

XRP/USD 12-hour chart

It's unclear if XRP bulls have enough strength to keep the digital asset above $0.30 as it seems Stellar is taking its place slowly.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.