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SEC Faces Allegations About Scamming Ripple – XRP Trades over $1.20

Gaurav Roy by Gaurav Roy
August 23, 2021
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New York, USA – The US SEC or the United States Securities and Exchange Commission faces allegations that the agency is trying to scam Ripple. On the other, XRP continues to do well despite the ongoing case.

The US SEC filed a case against Ripple last year, 2020, stating that XRP has been selling cryptocurrencies that are not under securities. The tension of this case continues as Ripple exchanged some views with the US SEC, which the court also considers.

The case is still not over, and it has been dragging for a long because of motions filed and evidence that lack effect in the court. The current state of the case is that Judges provided both parties 60 days more for fact discovery. The deadline set by the Judge also includes conducting a legal fact discovery. The ruling moved the duration to August 31, 2021. Aside from the set deadline for fact discovery, the Judge, Sarah Netburn, also set a deadline for expert discovery action on October 15, 2021.

Ripple fought back with the allegations of the US SEC, and it will continue to fight back to prove that all allegations are wrong. The company even filed a FOIA request to get information regarding the commission concerning Ethereum (ETH) and Bitcoin (BTC). As per the blockchain company, it emphasized that XRP is a native token.

SEC Faces Allegations About Scamming Ripple XRP Trades over 1.20
Crypto trades think SEC is trying to scam Ripple relating to the case.

On another note, SEC faced allegations about this agency scamming XRP. Traders are starting to think about whether the allegation is real or not.

Moving over to the performance of XRP, it displays an ascending performance. Now, XRP trades over $1.20, an uptrend position within the ALMA or Arnaud Legoux Moving Averages. Since the beginning of the year, its growth rate was 700%. If the trend continues to go up, it might hit the $2.083 resistance level. It might also reach $4.715 if the trend continues to perform well. Otherwise, the price might drop to $0.9.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: altcoinBTCcourtcrypto marketcrypto tradercrypto tradingcryptocurrencydigital assetETHgovernmenthackerslawsuitresistancescamSECsupport
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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