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Ripple CLO Calls for End to 4-Year SEC Battle: XRP To Soar to $3!
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has been a significant obstacle for the cryptocurrency market. Over four years since the lawsuit began, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, is urging an end to this prolonged conflict.
Stuart Alderoty, in his recent tweet, described the ongoing litigation as “lawless” and called for its immediate resolution. This comes at a critical juncture, with XRP investors looking forward to clarity on the regulatory landscape.
The ripple effect of the SEC’s actions has been profoundly felt across the market. Despite initial resistance, XRP has made an astonishing comeback, surging by almost 500% in the past month and currently trading at $2.18.
Notably, some analysts anticipate that should XRP maintain its momentum above the 26 EMA line, it may attract additional buyers, prompting a price surge to $2.40. Furthermore, increased transaction volume could confirm this upward trajectory, potentially pushing the price towards $3.
It is worth noting that the case has seen multiple twists and turns, with Judge Analisa Torres issuing a decision in July 2023 declaring XRP did not violate securities laws. This judgment reinforced the notion that the SEC’s actions were “arbitrary and capricious.”
With the Biden administration set to conclude its tenure soon, Ripple is now turning its attention towards the incoming Donald Trump administration, urging them to take decisive action to bring this prolonged conflict to an end.
The call for an immediate resolution of the dispute comes at a critical juncture, as the cryptocurrency market continues to navigate uncertainty and volatility.
Source: coinpedia.org
