Ripple today appointed former US treasurer Rosie Rios who served as the 43rd treasurer in the Barack Obama administration to its board of directors. The appointment comes right after the fintech firm has hired fintech executive Kristina Campbell as its chief financial officer. The recent slew of appointments seems to be taken in line with their ongoing lawsuit against the SEC that accused the firm of selling unregistered security in the form of XRP.
Rios in an official statement said,
“I’ve dedicated my career to financial inclusion and empowerment, which requires bringing new and innovative solutions to staid processes. Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally.”
Ripple is currently involved in an ongoing court battle with three virtual hearings already completed in the case. Ripple had quite an uphill task this new year as the lawsuit led to the delisting of XRP from a number of exchanges followed by a massive price fall. However, as the court hearings began and new developments surfaced, it looked like Ripple might have an upper hand looking at the early court arguments.
Brad Garlinghouse the CEO of Ripple welcomed Rosie on board and said.
“Rosie’s experience in the public and private sectors provides an invaluable perspective to Ripple, especially during this time as the industry works to define crypto’s future. We are extremely fortunate to have them on the team as we continue our rapid international growth and to champion for regulatory clarity in the U.S.”
This was also reflected in the price of XRP that rose from a yearly low of $0.174 to a new 3-year high of $1.96. The price rise came amid strong community support especially the online community that has called for exchanges to relist XRP amid new developments in the case.
XRP Struggling to Hold $1.40 as Support
XRP price rose to a new weekly high of $1.66 just late last week after recovering from the two-week low of under $1. However, it has seen the bearish momentum prevail over the bullish once and currently struggling to hold the $1.40 support level.
The token has fallen over 10% for the day and also lost its fourth spot to Dogecoin that has quite a phenomenal run today rising over 40% for the day as its market cap surpassed BMW.