The post XRP Price Rally to $1 Imminent Amid Clear Settlements With SEC appeared on BitcoinEthereumNews.com.

In the ongoing legal battle, Ripple aims to protect sensitive operational details and customer privacy, awaiting a decision from the Judge. Additionally, XRP’s price action reflects a pattern of bullish and bearish fractals, with support at $0.48 and resistance at $0.56. Amid the Bitcoin price resurgence, Ripple’s native cryptocurrency XRP has given a strong bounceback in the last three days with its price trading at $0.52. The rise in XRP value mirrored a broader trend across most cryptocurrencies, driven by Bitcoin’s surge to over $66,000 on Thursday. Other major altcoins followed suit, with Ethereum surpassing $3,000 and Solana making notable gains above $160. The collective market capitalization surpassed $2.5 trillion, highlighting the bullish sentiment prevailing in the market. Should Bitcoin maintain its momentum towards $70,000 in the coming week, altcoins like XRP are likely to sustain their upward trajectories. Key Developments in Ripple SEC Lawsuit In recent months, Ripple and the Securities and Exchange Commission (SEC) have been engaged in a crucial phase of their ongoing legal battle. During the remedies phase, both Ripple and the SEC filed motions to seal certain documents. Ripple’s legal team argued on May 13 that the SEC had previously indicated its approval of sealing portions of documents, particularly during this phase. While the SEC agreed to some of Ripple’s requests, it reserved the right to contest others. Ripple seeks to redact information that could potentially jeopardize its operations, including audited financial statements, revenue streams, and planned expenses. The aim of this narrower seal is to safeguard future strategies and plans, according to Ripple. Additionally, Ripple hopes to protect the privacy of its customers, staff, and strategic business partners. Ultimately, the decision rests with the Judge, whom Ripple has urged to prioritize privacy concerns when considering their motion to seal these details. As reported by…

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Filed under: News - @ May 19, 2024 3:56 am