Jeremy Hogan Asserts That XRP Is Not a Security

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XRP is not a security, according to recent remarks made by Jeremy Hogan. The company Ripple owns the cryptocurrency XRP. Hogan claims that Rpple doesn’t meet the requirements to be referred to as an investment contract. Hogan is a legal practitioner at Hogan & Hogan. Hogan brought up the ongoing legal dispute between the SEC and Ripple and noted that there is no proof that the latter has broken either an implicit or explicit investment contract.

 Hogan went on to say that a simple transaction cannot be referred to as an investment contract because Ripple is only required to transfer the asset. The investors now have a fresh viewpoint on the legal dispute thanks to Jeremy Hogan’s inference. A significant impact on Ripple’s price is likely if it turns out that it is not a security.

Key XRP Levels To Watch – April 10

According to the MA Cross, the market is in a bullish trend. As the Moving Average Period 18 crossed the Moving Average Period 40, more bulls stormed the market. This led to a further expansion of price until the overbought state was reached.

The market’s current trading range lies between the $0.3540 and the $0.5850 price levels. A consolidation zone is at the 61.80% Fibonacci retracement level. XRPUSD will likely resume its uptrend from this zone after the price corrects downward due to the overbought indication by the RSI.

Ripple Key Levels

Resistance Levels: $0.4940, $0.5600, $0.6580
Support Levels:  $0.3000, $0.3540, $0.4330

Total Market Capitalization: $1.21T
XRP Market Capitalization: $26.48B
XRP Volume: $0.81B
Market Rank: #6

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