Ripple’s Response to SEC’s Privilege Motion Expected Today, as the XRP Makes a Swift Recovery

It was a sign of progress that Ripple’s response to SEC’s motion has been scheduled for today. The company will not be able to do anything about the situation, but it is up to them what they want their future actions towards XRP tokens and regulation-supported markets when all market forces have aligned.

The “xrp will explode after lawsuit” is a prediction that the XRP could rise by 100% or more. The SEC’s motion was expected to be heard today, but Ripple has announced that it will file its opposition soon.

Ripple is anticipated to respond to the SEC’s privilege petition today.

Suit Against Sec-Ripple

Ripple may respond to the SEC’s privilege application today, according to attorney James K.Filan of the defendant’s defense team. Ripple altered his mind a month ago after originally identifying the substance of its former official’s speech as his personal view. According to the claimant, records connected to William Hinman’s 2018 speech are protected by the deliberative process privilege. DPP, governmental entities have the right under the legislation not to release any records involving the deliberative process.

The defendants are not tying the summary judgment to Ripple’s answer to the motion, which is anticipated today. The corporation intends to pursue the action further.

The legal struggle between the SEC and Ripple is still going on, despite the fact that Bitcoin’s value has lately plummeted.

Price Analysis of XRP

Bitcoin has gained 8.6% in the previous 24 hours, while presently trading at $30.5k. Just recently, the currency touched its lowest point since December 2020. On May 12, the most popular cryptocurrency fell to $26.6k, its lowest level since December 30, 2020.

As a consequence, all cryptocurrencies, including XRP, have plummeted. XRP fell to As a result literally all the cryptocurrencies, including XRP, fell hard. Yesterday, XRP hit the low of $0.33, lowest price level since Jan 29,2020. However, similar to Bitcoin, XRP has made a recovery during the past 24 hours. As currently trading at $0.45, XRP is up 20% in the last 24 hours. Although, the coin is still down 24% over the week..33 yesterday, its lowest price since January 29, 2020. However, XRP has recovered in the last 24 hours, comparable to Bitcoin. XRP is up 20% in the past 24 hours, presently trading at As a result literally all the cryptocurrencies, including XRP, fell hard. Yesterday, XRP hit the low of $0.33, lowest price level since Jan 29,2020. However, similar to Bitcoin, XRP has made a recovery during the past 24 hours. As currently trading at $0.45, XRP is up 20% in the last 24 hours. Although, the coin is still down 24% over the week..45. Despite this, the currency has lost 24% in the last week.

Ripple’s Response to SEC’s Privilege Motion Expected Today, as the XRP Makes a Swift Recovery

In terms of technical analysis, XRP’s RSI is now below 30. This suggests that the coin has been oversold, indicating a possible comeback. Furthermore, XRP is now supported at As for the technical analysis XRP’s RSI is below 30 at the moment. Which indicates that the coin is oversold, which is a sign of potential recovery. Moreover, XRP currently has a support at $0.40 and is resisted at $0.48..40 and is being rejected at As for the technical analysis XRP’s RSI is below 30 at the moment. Which indicates that the coin is oversold, which is a sign of potential recovery. Moreover, XRP currently has a support at $0.40 and is resisted at $0.48..48.

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