Currently, XRP Ripple is trading at $0.94 which is 3.26% lower in the last 24 hours.
Day Low: $ 0.88 Day High: $0.99
XRP Price Prediction and Forecast: Technicals for 23rd September
XRP Price Prediction and Forecast: Ripple prepared to Go for a Trial
Ripple Lab the creator of XRP has no plans to settle the lawsuit with the US regulators, instead, they are willing to go for a trial. As per the recent developments, SEC did not give fair notice to Ripple, nor did it clarify the circumstances when they sought guidance.
In response, Ripple’s defense is confident of its position and is willing to go for a trial instead of settling the case out of court.
BREAKING: @Ripple‘s legal team tell @FoxBusiness they have no plans to settle w @SEC_Enforcement over lawsuit on XRP, confident they can show @GaryGensler in pursuing the case is picking winners and losers in the #Crypto business to the detriment of innovation. Story developing
XRP Price Prediction and Forecast: Why is XRP still Plunging?
On Monday XRP witnessed a correction of over 11%. Currently, it is trading below $0.95. One of the main reasons was an investigation started by the US regulator against Binance, the world’s largest cryptocurrency exchange, over allegations that it was exploiting customers via insider trades.
However, the biggest reason for XRP plunge was the collapse of China Evergrande Group, the second-largest real estate developer in that country. Evergrande reportedly owes creditors over $300 billion and it is reported that if the Chinese government fails to bail it out, the company may declare itself bankrupt which may lead to a global financial outage.
XRP creator, RIpple Lab has been in confrontation with the SEC for many years which has directly affected the exchange price of XRP. Now the news from China is once again leading to crashing of XRP.
XRP Price Prediction and Forecast: What next for XRP?
The XRP crash was unavoidable after SEC refused to give documents requested by Ripple. Recently, Ripple’s legal team reportedly said that they have no plans to settle with the securities watchdog. However, it believes that SEC may drop the lawsuit.
If Ripple fails to get any positive news from SEC, XRP may crash further. Currently, XRP support is just around $0.90. XRP which is trading below $1 may go below that if SEC does not drop the lawsuit. Investors are showing the least interest in XRP following the lawsuit.
EXPERTS SAY XRP WILL WIN SEC LAWSUIT
XRP Price Prediction and Forecast: Ripple to Win SEC Lawsuit?
Recently SEC refused to give the documents requested by Ripple for public viewing. Added to it SEC filed a motion to protect documents requested by Ripple from public viewing. Since then XRP has been struggling to breach the resistance, rather the support of XRP declined rapidly.
@SEC_Enforcement sources tell @FoxBusiness the logic of the agency’s case v @Ripple is that the company’s infrastructure is STILL being built out so XRP — the token which was used to finance the thing — is considered a security. @ethereum infrastructure is
(2/2) totally built-out and has been for years thus it’s clearly a commodity. @HesterPeirce argues that all may be the case, but as @SECGov splits hairs, crypto innovation is being stifled so what’s needed is a “Safe Harbor” that pulls back all this enforcement action. Developing
However, experts believe that Ripple will win the SEC lawsuit. The founder of Crypto-Law.us, John Deaton believes Ripple will win based on its current defense.
It’s an OBJECTIVE standard. Ripple could have bad intent and still win.
But don’t take my word for it. Here is Judge Netburn: 👇
Here it is @JohnEDeaton1 The Hinman speech came from this. It looks like a whole collection of people’s personal opinions.
Who remembers in the Hinman deposition the question about “if you called 10 different law firms you would get 10 different answers? That goes to the external factors faced by market participants such as @Ripple.
XRP Price Prediction and Forecast: Is Coinbase Relisting XRP?
On the 9th of September, Coinbase Pro Exchange starting showing XRP trading pairs (XRP/BTC, XRP/USD, XRP/GBP, and XRP/EUR. Coinbase had previously removed XRP for trading on its platform due to the ongoing legal battle between XRP and Securities & Exchange Commission (SEC).
Due to this the price of XRP rose almost 13% but Coinbase denied the relisting rumors. After the clarification, the price of XRP again fell by 10%.
Coinbase through its Twitter handle wrote, “As previously announced, Coinbase has suspended trading in XRP. Due to a technical issue, XRP was temporarily viewable on the Coinbase Pro mobile app for some customers but was not tradeable.”
XRP price holds above stiff support, which may catapult prices by 30%
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XRP Price Prediction and Forecast: What is XRP?
XRP is a cryptocurrency developed by Ripple Labs. Ripple Labs offers services related to payment settlement, asset exchange, and remittance systems. It was essentially designed to be a replacement for SWIFT, a leading money transfer network. In 2012 after Ripple became an open coin, it launched its cryptocurrency, XRP. The purpose of XRP was to serve as an intermediate mechanism of exchange between two currencies or networks.
XRP Price Prediction and Forecast: Difference between XRP and Bitcoin?
- XRP is easy to mine or are pre-mined and its is much cheaper and faster to in terms of transaction. Bitcoin on the other hand uses a complicated system of mining. The mining cost and time taken to mine is higher and it may sometimes take many minutes for transaction to complete.
- The supply of bitcoin is limited and it depends upon the miners when they release the coin in market whereas for XRP, Ripple plans the realease of coins in the market. A small contract is used to release XRP in market.
- Transaction validation of XRP is done by Ripple network which uses unique distributed consensus mechanism to validate transactions. Bitcoin transaction validation requires huge energy requirement which is not good for the climate.
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