Insight into the Ripple vs SEC Case Outcome
The Ripple vs SEC case outcome and the current state of XRP in the cryptocurrency market are closely related. The SEC’s recent reply brief, which referred to the LBRY case 21 times, suggests that the outcome of the LBRY case could offer insight into the resolution of the Ripple vs SEC case.
A positive outcome for Ripple could attract fintech companies to the U.S., while a negative result could result in a mass exit of crypto firms and talent.
In the cryptocurrency market, XRP’s current position remains uncertain. Despite a 17.3% increase year-to-date (YTD), XRP’s price is still bearish territory and has failed to break the 200-day Exponential Moving Average (EMA) over the past two weeks.
Is the Upward Momentum Still Intact?
XRP is trading at $0.3945 at the time of writing and has found support at the 50 and 100-day EMAs. A break of the 200-day EMA, which currently stands at $0.4147, would be necessary to trigger bullish momentum and could cause the price of XRP to skyrocket.
An upward crossover of the 50-day EMA by the 200-day EMA, known as a golden cross, could signal the start of a new uptrend. If this occurs, the main resistance for the bears would be at the $0.54 level. If the bulls successfully break through this level, XRP could reach a nine-month high, a level not seen since the Terra Luna collapse.
Why You Should Care
The outcome of the SEC lawsuit against Ripple Labs has implications for the wider cryptocurrency regulatory future. It will set a precedent for how similar cases are approached and potentially affect the broader crypto community.
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Ripple Shakes Up Leadership Ahead of XRP Lawsuit Outcome – What to Expect in Advance.
Long’s Role in Navigating Ripple
Long, who has been with Ripple since 2013 when the company only had ten employees, expressed her excitement about her appointment, stating: “Over half of my professional career has been in crypto, and more importantly, at Ripple. I’m incredibly honored and ready to hit the ground running as president.” With Long’s appointment as President amid the ongoing SEC lawsuit, Ripple is poised for a critical period in its history.
Long’s Contribution to Ripple’s Growth
Long mentioned that her main focus as President of Ripple will be to continue scaling the company and growing its team, even in the current challenging crypto environment. Long joined Ripple when the company was starting and has played a major role in its growth, spearheading the development of its On-Demand Liquidity solution, which was launched in 2018.
The On-Demand Liquidity solution has proven to be a game-changer for the cross-border payments industry. The solution is based on using XRP as a bridge currency and has enabled financial institutions to process cross-border payments faster, cheaper, and more efficiently.