XRP Price Prediction as XRP Dips 4% to $0.60 – Is a Rebound Imminent?
In the latest market developments, Ripple’s XRP is currently trading at $0.6025, marking a 4% decrease on Saturday. Amidst the ongoing legal battle between Ripple and the SEC, where Ripple’s General Counsel suggests the SEC is losing ground, the XRP price faces a significant dip.
Concurrently, the cryptocurrency market observes Fidelity’s move to file for a Spot Ethereum ETF, following in the footsteps of industry giant BlackRock. This shift in the digital asset landscape raises questions about XRP’s potential for a rebound in the face of regulatory and market shifts.
Stuart Alderoty, Ripple’s Chief Legal Officer, has openly criticized SEC Chair Gary Gensler and the Commission for their recent courtroom defeats. Alderoty’s tweet highlighted the SEC’s loss in the Govil case and other setbacks, suggesting a waning impact of their legal actions.
He pointed to Grayscale’s August court victory where a federal judge termed the SEC’s actions “arbitrary and capricious.” Ripple scored a significant win in July when a judge ruled XRP was not a security by itself. Further, in October, charges against Ripple executives Brad Garlinghouse and Chris Larsen were dropped, following the SEC’s refusal to pursue an interlocutory appeal.
The SEC is losing in court; being criticized by Judges for shady behavior; being rebuked by the Gov’t’s internal auditor; hiding info about meetings with a felon; becoming irrelevant on the international stage. Gensler – admitting no fault – has become the insulate Col. Jessep. pic.twitter.com/vqjPPcifr8
The SEC sued Ripple in December 2020, alleging the company had raised over $1.3 billion through an unregistered digital asset securities offering. John Deaton, founder of CryptoLaw, believes Ripple’s penalties
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