the Climbing lawsuit against SEC I took an interesting turn. The recent development indicates that this long -term legal battle may end soon. Surprisingly, the price of XRP failed to respond positively with this development, instead, has been greatly crashed.
XRP price failed to respond positively to Ripple VS. SEC Evolution
Coinmarketcap data He explains that the price of XRP decreased more than 6 % and 24 % in the last 24 hours and seven days, respectively. This price collapsed despite the positive developments in the Ripple VS. SEC, including the American SEC decision to reset the chief litigation council, Jorge Tenreiro, to the Agency’s Ministry of Information Technology.
This development is positive for Climbing lawsuit against SEC When Tenreiro led the agency’s encryption unit and supervised the lawsuits against Ripple and other encryption claims. In the aftermath of this step and re -setting more than 50 lawyers, encryption experts such as Del Crypto speculated that the committee can soon issue an advertisement, which represents the end of the lawsuit.
As mentioned by Bitcoin, The United States again It also expands its encryption efforts by reducing the size of the special unit specified for this. In fact, this indicates that the committee is ready to drop the rippal suit and other coding measures that the new administration follows by the Gary Ginsler administration feels wrong.
These developments are optimistic about the XRP price, taking into account how it was significantly affected by the CEC case. However, the encryption failed in the gathering in response to these positive developments, which is undoubtedly anxiety.
However, a reasonable explanation for the collapse of the price of XRP amid positive rippal developments against SEC is the homosexuality in the wider encryption market. the Bitcoin price It currently fails to obtain critical support levels, which explains the cause of XRP and other altcoins.
Meanwhile, the price of XRP may have been priced at a possible end to the Ripple VS. SEC since Donald Trump won the elections. Since Trump’s victory, there has been speculation that the committee would decrease its appeal against Ripple, especially given the position of the pro -lead president’s position and his candidacy for Paul Attins for the role of SEC president.
XRP still has a room for running in this bull running
Despite the collapse of the XRP price and its failure to respond positively to the developments in the Ripple suit against the SEC, the encryption analysts suggested that XRP still has more space to run to the upward trend in this bull run. One of these analysts is Dark Defender, who expected that encryption could Gather to $ 8 Soon enough.
Encryption Egrag Crypto It also recently revealed that the price of XRP reflects the 2017 pattern. Based on the similarities, the analyst stated that XRP can rise by 1500 % and gather to $ 27 in the coming weeks.
At the time of this report, the XRP price is traded by about $ 2.29, a decrease of approximately 7 % in the past 24 hours, according to Data From Coinmarketcap.
Distinctive image from Medium, Chart from TradingView.com