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- 1 Ripple’s Brad Garlinghouse looks ‘happy’ as he had a ‘great meet’ with the XRP community.
- 2 In Las Vegas Ripple’s “camaraderie” had a great time with Ripple’s CEO.
- 3 From the last 7-days, the price of the XRP coin has dropped by almost 7%.
Brad Garlinghouse, the CEO of Ripple, shared a tweet on May 6th, as he attended the XRP community meet in Las Vegas. During the meeting, he appreciated the support of the whole XRP community in the ongoing Ripple vs SEC dispute. As he said “the XRP community stood by and also showed their support as they have fought the good fight.”
Jeremy Hogan, an attorney and XRP supporter has also attended XRP community meet via online call. Additionally, he has also shed some light on Judge Torres ruling against the SEC “on a key issue.”
Ripple vs SEC Lawsuit: The Long-Run Battle
The Ripple vs SEC lawsuit still has not reached any end. The legal fight between Ripple Labs and Securities and Exchange Commision (SEC) spent more than two years in the United States Southern District Court of New York. While, as per the multiple media sources, the legal expert suggests Ripple may “consider settlement,” even after it is quite close to its win.
The XRP community is showcasing its massive support in the ongoing dispute between Ripple and SEC. On the other hand, the SEC faced criticism because of its “lack of clarity on what it considers security.”
In mid of April, the SEC Chair, Gary Gensler faced huge criticism while he was asked about the approach of SEC in regulating crypto. Genlser looked quite nervous and also did not give a satisfactory or clear answer to the Chair of the Republican-led Committee, Patrick McHenry.
XRP Price Analysis
According to Tradingview, at press time XRP is trading at the price of $0.43769 with a 24-hour trading volume of $739.70 Million. XRP is down 4.55% in the last 24 hours, with a current market cap of $22.67 Billion. However, in the last few hours, XRP has dropped from $0.4553 to its current trading price and noted an almost 4% decline. Even after having quite good trading volume, XRP showed a bearish trend.
The recent one month price analysis of XRP has also shown nearly 15% drop. As from recent 3-days, XRP continued its bearish trend and now reached its 200-day EMA. It seemed like bears in the market took over the control and brought the price of XRP down. The RSI also followed the downtrend and showed its progress towards the oversold zone.
XRP has secured its place at 6th position in the top-10 cryptocurrencies by market cap, according to the data sourced from CoinMarketCap.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
