Here’s Everything That Happened to ripple (XRP) This Week (Summary)
TL;DR
- Ripple faces ongoing legal challenges with the SEC and a civil lawsuit against CEO Brad Garlinghouse.
- The price of XRP remains stable around $0.50 and analysts are predicting potential significant gains if certain technical patterns form.
There is news about the company It focused mainly on litigation against the U.S. Securities and Exchange Commission (SEC). Earlier this week the regulator saw the Crypto Asset and Cyber Unit Chief in its Enforcement Division – David Hirsch – resignation.
He spent almost a decade at the agency, and some speculated that he would start working at the agency. pump.entertainment (A marketplace based in solana this makes it possible users to create and distribute them have tokens). Hirsh called the rumors “false.”
In addition to its lawsuit against the SEC, Ripple faces another civil securities lawsuit over “misleading statements” made by its CEO, Brad Garlinghouse, in a 2017 interview. At the time, the executive said he was “very, very long” on XRP, when in fact he sold “millions” of tokens that same year (the lawsuit allegations).
Another development that made headlines this year was the announcement of the launch of the Ripple stablecoin. Company a week ago clarified financial product is pegged to the US dollar request It will be called Ripple USD (RLUSD). It will be available on XRP Ledger and Ethereum and will go live in late 2024.
XRP Price Outlook
Despite the recent pullback in the market, XRP in its place stable, hovering around $0.50 and up 3% on a weekly scale.
A person who believes in existence ready You can use X user EGRAG CRYPTO to make much more significant gains in the future. Analyst requested He said XRP could form a “perfect Hammer formation” and a “mega pump” could follow if it closes above $0.55-$0.58 by the end of June.
Before this is EGRAG CRYPTO envisioned A recent XRP rally based on the low Relative Strength Index (RSI). Technical analysis tool measures the speed and variation of price movements and it changes From 0 to 100. A ratio above 70 indicates that the asset may be overbought and headed for a correction. Data demonstrations Only this level has been passed three times currently through June on foot Around 50.
JAVON MARKS was also on the rise guess If XRP reflects its performance in previous years, a price explosion to $20 “or even higher” could occur.
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