RIPPLE UPDATE: WHAT TO EXPECT FROM XRP AND RIPPLE LAWSUIT THIS WEEK
- Ripple active addresses doubled over the weekend, signaling a rise in activity among traders, per Santiment data.
- XRP traders have consistently taken profits in the altcoin in the last two weeks, increasing selling pressure on the altcoin.
- XRP sustained above key psychological support at $0.60, extending gains by nearly 2% on Sunday.
- Ripple proponents expect a ruling in the SEC lawsuit by the end of July, per the comments of attorney Fred Rispoli.
Ripple (XRP) extended gains by nearly 2% early on Sunday. XRP sustained above the psychological price level of $0.60 amidst the optimism of Donald Trump’s speech at the Bitcoin conference, and BTC’s recent gains.
Ripple lawsuit update
Securities & Exchange Commission’s (SEC) lawsuit against Ripple awaits a final ruling by Judge Analisa Torres. At the Bitcoin conference, Donald Trump said SEC Chair Gary Gensler will be fired “on day one” if he is elected President of the United States.
Crypto proponent Trump promised the attendees a new SEC Chair and an end of the anti-crypto stance of the Biden-Harris government. Trump’s win in the November elections could therefore influence the Ripple lawsuit.
Ripple executive Brad Garlinghouse has slammed the SEC and Chair Gensler for their “regulation by enforcement” approach and a “lack of clarity on crypto regulation” in interviews, on several occasions
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