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XRP Price: Ripple native token XRP price may rise after defendants in the critical XRP lawsuit Ripple labs filed their redacted reply to the SEC’s opposition motion for Summary Judgment.
XRP price bullish over Ripple lawsuit ruling?
While writing this piece, the current price of the XRP token is $0.3938 In the last 7 days XRP token price has risen by nearly 3% and the 24-hour trading volume is $604,860,508 USD. In addition to this in the last 24 hours, XRP has gained 0.44%. Currently, there are 50,260,446,248 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins.
The ripple price is about 6% lower than its peak in November and 25% higher than its low point this year. Ripple is now worth more than $19.5 billion. According to Santiment, the XRP network is the most popular cryptocurrency. XRP faces a significant price increase in the near future. However, a brief and sharp drop is expected before the price soars. Since XRP has just crossed the support level of $0.38 it shows that the XRP price is currently bullish and buyers currently targeting the key resistance level at $0.41.
Ripple Vs SEC lawsuit Update
A little change has been seen after defendants Ripple labs filed its redacted response to the SEC’s opposition to the Motion for Summary Judgment. As per the report, Ripple insisted that the SEC had failed to demonstrate that the sale of XRP was an offer for an investment contract, and thus a security. Furthermore, the lawyers contended that the SEC failed to demonstrate that the Ripple buyers purchased a common enterprise, as required by law.
As per the the analyst in a recent proceeding Ripple has a strong case against the SEC but it is still too early to predict if Ripple will win the case. Ripple CEO, Brad Garlinghouse, confirmed with General Counsel. He stated that they are working to establish clearer regulations for the entire industry. He did, however, congratulate Team Ripple on reaching this point. He emphasised that the defendants stood firm and withstood the SEC’s assault. Meanwhile, he’ll be glad to be on the winning side of the XRP lawsuit.
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