The post Ripple’s President Optimistic on a Win Against SEC Lawsuit, XRP Price To Set New Course appeared first on Coinpedia Fintech News
The XRP community has been advocating for centralized exchanges like Coinbase Global to re-list the digital asset amidst regulatory scrutiny by the SEC. As the sixth largest digital asset aims to bridge the gap between traditional financial institutions and the Web3 industry, the XRP community is bullish on long-term prospects. Moreover, XRP price broke out of a multi-month logarithmic downtrend on Tuesday after scaling to $0.49 during the intraday trading session.
According to the latest crypto price oracles, XRP exchanged around $0.42 during the early Asian market on Thursday, down approximately 9.8 percent in the last 24 hours. As the price retests January’s high and the 200 DMA holds a supportive position, the XRP market is poised to rally further in the coming days.
From a technical standpoint, the XRP bulls aim beyond $0.54 on the short-term profit margins as the next significant resistance level. Moreover, over $8.4 million worth of XRP has been liquidated in the past 24 hours, an indicator of a rising trend.
Ripple Optimist on a Win Against SEC on XRP
In a CNBC interview on Wednesday, Monica Long, president of Ripple who leads the marketing team, said she is ‘very hopeful’ about achieving a positive resolution to the SEC case. Long said she thinks it’s “very unlikely” Judge Analisa Torres will rule in favor of the SEC considering the facts presented.
Ripple’s president noted that the United States is lagging in providing a clear regulatory framework that allows the industry to bloom. As such, the blockchain payment company has significantly increased its presence outside the United States jurisdictions, particularly in Europe, where crypto regulations are much clearer.
“Europe is really emerging as a leader in setting really clear regulations and rules that allow crypto companies and also traditional finance to embrace crypto,” Long said.