XRP price remains unfazed by the SEC’s legal battle with payment giant Ripple


  • XRP price remained largely unaffected by updates in the SEC’s battle with payment giant Ripple. 
  • In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse remained unfazed by the SEC’s progress in its lawsuit against the payment giant. 
  • Analysts predict recovery in XRP price, as the altcoin continues its recovery. 

XRP price is currently 13.7% lower compared to last week. However, proponents argue Ripple is unfazed by the SEC’s lawsuit. The altcoin is on track to begin its recovery. 

Ripple CEO unfazed by the SEC’s position in the lawsuit 

Brad Garlinghouse, the CEO of Ripple, recently told Bloomberg in an interview that the payment giant can continue doing business as usual. Garlinghouse believes that the US is the only country that classifies XRP as a security.

XRP was hit by the SEC’s lawsuit when the altcoin suffered a slew of delistings from cryptocurrency platforms and exchanges. Despite the lawsuit and the aftermath, XRP price recovered and resumed its uptrend. 

Proponents argue that the recent updates in the SEC vs. Ripple case do not influence XRP’s price negatively. Therefore, XRP price could continue its recovery irrespective of the outcome of the SEC vs. Ripple case. 

The regulator has pocketed small wins along the way in its lawsuit against XRP, and the altcoin is currently in a phase of consolidation. However, the rising commercial utility and Ripple’s latest rebrand initiative could drive demand for the altcoin higher. 

Irrespective of Ripple’s win, loss or settlement in the SEC’s case against it, XRP price could recover from its pullback and wipe out losses of investors. 

Analysts at @IncomeSharks have identified a short setup in XRP’s current price trend. Before starting a climb, XRP could find support lower than the downside target of $0.61 unless buyers line up on exchanges to fuel the altcoin’s recovery. 

 


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.

Recommended content


Recommended Content

Editors’ Picks

Crypto Today: Cardano, XLM, FLOKI lead $3.1 trillion rally, Russia bans crypto mining, Bitcoin eyes $95K

Crypto Today: Cardano, XLM, FLOKI lead $3.1 trillion rally, Russia bans crypto mining, Bitcoin eyes $95K

Cardano (ADA) price action ADA’s ongoing rally has been attributed to rumors that the Trump administration could collaborate with the Cardano network to build a blockchain voting system.

More Cryptocurrencies News
Trump administration allegedly seeks to create new crypto position in White House

Trump administration allegedly seeks to create new crypto position in White House

President-elect Donald Trump and his team are reportedly seeking to introduce a new White House position for crypto policy, Bloomberg reported on Wednesday.

More Crypto News
Solana Price Forecast: Traders move 6.7B SOL as bulls target all-time highs

Solana Price Forecast: Traders move 6.7B SOL as bulls target all-time highs

Solana price has succumbed to a 7% dip after rejecting the $250 resistance on Monday. Negative shifts in vital trading indicators suggest bears could delay the all-time high breakout target. 

More Solana News
FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF

FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF

Floki Inu (FLOKI) is down 5% on Wednesday following crypto exchange Coinbase's announcement that the token will begin trading on its platform over the next 24 hours.

More Crypto News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP