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With this, the cryptocurrency has lost all the gains after the XRP lawsuit ruling last month in July 2023. Furthermore, SEC’s filing for an interlocutory motion against the court ruling has further created a negative sentiment around XRP. advertisement Judge Torres decided to approve the SEC’s request and granted the regulator until August 18 to submit its opposing motion. The Judge also allowed Ripple Labs the opportunity to file its opposition papers by September 1. If needed, the SEC will have an additional chance to respond by September 8. XRP Technical Chart and Further Price Action Ripple’s XRP faced difficulty surpassing the $0.65 resistance against the US Dollar and began a fresh decline. It underwent a significant drop below the $0.550 support area. Presently, XRP is trading below $0.55 and the 100 simple moving average over a 4-hour timeframe. On the 4-hour chart of the XRP/USD pair, a notable bearish trend line is forming wit...

Also Read: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveals Docs advertisement Why ETH Not XRP? The crucial documents revealed why then SEC Director Bill Hinman mentioned Bitcoin and Ethereum and let the XRP out of this category. However, Hinman’s speech indicated that a digital asset offered as a security can, over time, change into something other than a security. It highlighted that Ether was not a security even though it was launched through an initial coin offering (ICO). It is mentioned that the internal departments had some second thoughts about stating Ethereum in the speech. Hinman drew opposition for the reason that he included Ether in the speech draft. However, he stated they have a call scheduled with Vitalik Buterin, Ethereum Founder, later that week in order to confirm the understanding of ETH foundations operations. Read More XRP News Here… The comments from the Trading and Markets Department in resp...

Also Read: Ripple Secures Another Win Against US SEC; Hinman Docs To Go Public advertisement XRP Price Zooms Over Ripple Win XRP price registered a spike of more than 7% in the last 24 hours. Its 24 hour trading volume jumped by 93% to stand at $1.45 billion. XRP is trading at an average price of $0.447, at the press time. It is important to note that the current XRP price jump comes in when the court rejected one of the US SEC’s motions in the XRP lawsuit. Source: CoinMarketCap As per the report, Judge Analisa Torres declined the commission’s request to seal infamous Hinman speech linked documents. The US SEC wanted to seal the documents claiming that it reflects non-public deliberations by the agency’s officials. However, the court order will help the defendant to make the memos go public. Read More XRP News Here… Also Read: Ripple In Lead As US SEC Holds Bad Win Record On Howey Test? Recommended A...