Ripple Prepares for Settlement Talks and Potential Victory Over Gary Gensler and the SEC in Major Update. The blockchain business, Ripple, is based in San Francisco. It is still having issues as part of its continuing legal dispute with the SEC of the United States. In the Ripple action, US Judge Analissa Torres dismissed the SEC’s request for an interlocutory motion last week. The judge has additionally advocated for a settlement between Ripple and the SEC. At the same time, the Ripple v. SEC trial won’t start until April 2024. There has been a significant reorganization inside the business. The company announced this week that Ripple’s Chief Financial Officer has left the organization amid the ongoing regulatory conflict.
Ripple CFO Bids Adieu
For the previous two and a half years, Kristina Campbell held the position of chief financial officer at Ripple. She has since departed the cryptocurrency startup to take on the same position at the healthcare provider Maven Clinic. She posted this information on her personal LinkedIn profile and thanked Ripple and her previous coworkers: I want to publicly thank everyone at Ripple for making the previous few years so unique.
This transfer takes place as Ripple and its well-known rival, the United States Securities and Exchange Commission (SEC), are engaged in a protracted legal dispute. Due to two straight victories in court, Ripple currently has the upper hand in this case. The SEC’s motion to appeal the July decision. Which found that the company’s prior year’s XRP sales did not qualify as offerings of investment contracts, was recently denied by U.S. Judge Analisa Torres. She also scheduled the trial for April 23, 2024.
Proponents of XRP and the whole cryptocurrency world keenly anticipate the final resolution of the Ripple-SEC litigation. This result could lead to a significant price increase for XRP and promote a more hospitable regulatory environment in the US. According to ChatGPT’s predictions, one of the things that can encourage a bullish market in 2024 is a likely triumph for Ripple. These components include recent financial partnerships, crypto market trends, technology advancements, supply and demand dynamics, speculative activity, and several more.
Ripple Settlement Can Trigger Bull Run
The XRP price, however, has given up its early-October gains and has once more fallen below $0.50. At the time of publication, the price of XRP is $0.48, down 3.14 percent. A sell-off in the larger cryptocurrency market is occurring at the same time as the recent price pressure on XRP. The price of XRP confirms a symmetrical triangular pattern on the daily chart, suggesting that it is about to undergo a significant decline. The 21-day EMA, 100-day EMA, and 200-day EMA are three important moving averages that the cross-border remittance token continues to be below.
The Relative Strength Index (RSI) has moved back into the oversold zone after retreating from the overbought area, sliding below the midpoint. The chances of a rapid recovery would drastically decrease if the bulls failed to take decisive action to defend the $0.48 immediate support level. Some investors may decide to switch their attention to different cryptocurrencies if a recovery doesn’t occur at the $0.48 level. Given the triangle pattern, XRP’s price can decline by about 34% from the breakout point at $0.51 to $0.33.
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