- On July 23, speculation about a settlement of the Ripple-SEC case intensified, fueled in part by Kamala Harris’ comments that she had taken a more positive stance towards cryptocurrencies.
- MetaLawMan (a lawyer known by the name James Murphy) dismissed any claims that Kamala Harris was becoming crypto-friendly. He urged community members to put more emphasis on their actions than on words.
The XRP litigation has attracted significant interest from both investors and the crypto community. Analysts are eager to make predictions about major breakthroughs for the Ripple case, despite speculation that Kamala Harris will take a crypto-friendly position. update.
James Murphy, also known as MetaLawMan, a lawyer on X has dismissed any claims that Kamala Harris would be more open-minded about crypto. He urged the community to concentrate on deeds rather than just words. He suggested to Harris that they take some steps in order to make a real crypto shift.
The SEC should acknowledge and revoke Operation Chokepoint 1.0, as well as fire the current Chairman Gary Gensler. Moreover, he asked Vice President for the dismissal of cases brought against Coinbase Ripple Binance Kraken and Binance as well repealing the controversial SAB 121.
Custodia Bank should also be given a Federal Reserve Master Account. MetaLawMan, meanwhile, has sparked a discussion by suggesting that the policy change could have significant impact on digital assets.
The XRP Price Action
XRP has shown strength over the last few weeks, with a view to a rise all the way up to $1. reported Crypto News Flash. As at press time, the XRP price is currently trading. 1.83Market cap is at $34.2 Billion.
CNF: XRP is still well above its 50-day and the 200-day EMAs. This confirms bullish signals. update. If the breakout is above $0.60, it could lead to a movement towards $0.65 and possibly the resistance level of $0.6609.
It is important to keep a close eye on the SEC Ripple Case and any developments that occur in US politics. If XRP drops below the support level of $0.5739, this could indicate a fall towards the 200 day EMA. With a reading of 65.29 on the 14-day RSI, XRP could rise up to $0.6378 (the high for July 17) before it enters overbought terrain.
Investors will likely continue to push XRP higher as the Ripple vs SEC case progresses.
Analisa Torres ruled in July 2023 that Ripple broke US securities law by selling unregistered XRPs to institutional investors. She did, however determine that Programmatic Sales of XRP didn’t meet the Howey Test third prong.
Uncertainty about the penalties Ripple will have to pay would be eliminated by a settlement. Moreover, the SEC would be prevented from appealing the decision on Programmatic Sales of XRP. This precedent will have a major impact for the US Digital Asset Market.
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Source: www.crypto-news-flash.com