Ripple (XRP) CEO Brad Garlinghouse recently expressed his optimism over the ongoing XRP vs. SEC lawsuit, noting that he expects the case to end next year. Garlinghouse made the comments in an interview with CNBC Monday.
Elaborating on his timeline projection for the lawsuit, the CEO noted that:
“We’re seeing pretty good progress despite a slow-moving judicial process.
Clearly, we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple. This will have broader implications.”
The US Securities and Exchange Commission took Garlinghouse and co-founder Chris Larsen to court last December, alleging that the executives and Ripple Labs sold $1.3 billion worth of XRP in an unregistered securities offering. That said, the defendants have argued strongly that XRP does not fall under the classification of a security.
Meanwhile, Ripple recently published a regulatory framework proposal for cryptocurrencies to regulators across the globe, titled “A Real Approach to Cryptocurrency Regulation.”
Garlinghouse explained that the “proposed policy framework is a three-pronged approach of what can be done now,” adding that it comes from Ripple’s “direct interactions with regulators and bipartisan policymakers.” Brad Garlinghouse has reasserted that the SEC has provided no clarity on cryptocurrency regulation.
Key Ripple Levels to Watch — November 24
XRP has slipped below the critical $1.100 – $1.0500 pivot zone, as the “bankers’ cryptocurrency” struggles to keep bears at bay amid a marketwide FUD. XRP currently trades along a descending trendline, which appears to be taking the cryptocurrency towards the $1 mark.
Bulls need to resist this bearish pull and cling to the $1.100 – $1.0500 pivot zone as we head into the end of the year. Much of this bearish bias comes from the lingering SEC vs. XRP lawsuit, which has dragged on for almost a year now.
Meanwhile, my resistance levels are $1.0500, $1.1000, and 1.1500, and my support levels are $1.0000, $0.9500, and $0.9275.
Total Market Capitalization: $2.57 trillion
Ripple Market Capitalization: $48.7billion
Ripple Dominance: 1.89%
Market Rank: #7
You can purchase crypto coins here: Buy Tokens
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.