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XRP holders await SEC vs. Ripple judgment, Chair Gensler discusses regulator court battles
A Ripple lawsuit judgment is anticipated shortly after FIT21, the new US crypto bill.
At the ICI 2024 Leadership Summit, SEC Chair Gary Gensler said the agency has done well in court.
ex XRP gained 3% this week, surpassing $0.53 on Friday.
Holders anticipate the SEC-Ripple (XRP) case judgment. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have often criticized SEC Chair Gary Gensler and his “regulation by enforcement” strategy.
Chair Gensler discussed the SEC's court performance at a leadership conference.
XRP rose beyond $0.53 on Friday. The altcoin rose 5% on Binance this week.
While XRP investors await the SEC vs. Ripple litigation verdict, agency Chair Gary Gensler discusses the agency's court performance.
Chair Gensler told the ICI 2024 Leadership Summit that the SEC has won crypto cases in court.
The agency's case against Ripple may not fit the sweeping assertion.
In SEC vs. Ripple, the agency claimed that the business marketed unregistered securities (XRP) to institutional customers at varying prices/discounts, netting “ill-gotten gains,” and wanted a $2 billion punishment.
Ripple requested a $10 million fine and is prepared for a ban on US institutional XRP sales, according to lawyers familiar with the issue.
Today more than ever, Gensler is a political problem for the Biden administration.
Why 71 Dems supported FIT21 across the aisle.
The XRP rise has good momentum, according to the Moving Average Convergence Divergence (MACD). The RSI at 52.93, confirming XRP's rebound.
Ripple might rise almost 7% to $0.5703, its May 6 and April 22 high, if its rally continues. The altcoin has seen resistance here since April 13.
XRP may sweep liquidity at the May 23 low of $0.5027. The altcoin is near to $0.50, a psychologically crucial support for Ripple.
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