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Ripple vs. the SEC Update: As May 13th Nears, XRP Price is Affected

Gaurav Roy by Gaurav Roy
May 12, 2022
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TEL AVIV, Israel – The dates have been drafted for the Securities and Exchange Commission vs. Ripple Labs lawsuit case proceedings. The first date set for the XRP to provide a brief reply to the SEC’s statement about the attorney-client privilege on the Hinman documents is set to happen on Friday, May 13th. The next date is set on May 18th, when the SEC is required to give a reply to what the Ripple team will say on Friday.

William Hinman was a central figure when this case started. As a former director of the SEC, he stated back in 2018 that Ethereum and Bitcoin are not securities, meaning they do not need to be registered under the Securities and Exchange Commission regulations. If this document is admissible in court, it contradicts the SEC’s lawsuit against Ripple and its two executives.

Ripple vs. the SEC Update- As May 13th Nears, XRP Price is Affected
A photo of a person holding a smartphone showing a chart

As the dates move closer and closer, the XRP’s price is also impacted. Recently, it hit a low of below the $0.60 support level. Now, the resistance level is set at $0.55, which the XRP needs to avoid to gain momentum towards the highs of the charts.

After possibly hitting the first resistance level, Ripple can then surpass the two other resistance levels at $0.62 and $0.72. However, if the XRP flunks lower than the pivotal point of $0.51, it could hit the first support level as low as $0.44.

Ripple vs. the SEC Update- As May 13th Nears, XRP Price is Affected
A person holding coffee in one hand and a smartphone in another

If you look at the candlesticks, you will see that a bearish movement rises unless the bulls do anything about it. If the bulls can put enough pressure on the market, you might see an upswing in XRP’s price. Keep being updated on the altcoin’s performance in the charts and Ripple’s stand on the case to strategize effectively.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: Ripple newsripple news todayXRP bull trendxrp newsxrp news today
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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