The SEC’s lawsuit against it remains pending as the trial hearing closes approaching.
Recently, Ripple’s lawyers demanded that the SEC disclose employees who trade cryptocurrencies such as XRP and .
In addition, there are other interesting documents that question the application of Howey’s test to XRP sales. The Howey test provides information about when the Securities and Exchange Commission (SEC) considers it a security.
However, evidence is increasingly playing a secondary role. The parties have now amicably agreed that certain documents required as evidence by the other party shall remain concealed. This approach is an indication that a settlement may be on the horizon after all.
The SEC is careful not to make some past events public. In this way, it actively prevents the lawsuit against Ripple as a precedent in the future.
It is also interesting to note that the Securities and Exchange Commission requested an extension of time before deciding which documents should remain hidden. For this reason, lawyers for the regulator want to consult the accused beforehand.
If the complainant already had extrajudicial contact at this point in the dispute and it was decided what not to be disclosed to the public, this means a lot. It seems that the authorities have understood that the trial will not be crowned with success. So, now it’s all about harm reduction.
. technical levels
Currently, Ripple is showing a 1% gain at XRP of $0.9523. This brings its market capitalization to $44.68 billion, while at $145.0 and a market capitalization of $43.16 billion, it is set to challenge Ripple in sixth place.
On the daily chart, XRP has recovered from the recent drop in the $0.8588 region and is currently battling the 50% Fib retracement resistance (up from $0.5177 to $1.4151) at $0.9664.
If the daily close succeeds above this level, the bulls could test the next resistance at $1.0722, where the 38.2% Fibonacci retracement is located.
On the flip side, support is at the recent low at $0.8588 which is boosted by the 61.8% Fibonacci retracement at $0.8605. If the bulls fail to defend this level, expect further losses towards the 78.6% Fib retracement level at $0.7097.
By Marco Uhrl
the responsibility: Fusion Media I would like to remind you that the data on this website is not necessarily current or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges but by market makers, and therefore prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for trading purposes. Therefore Fusion Media assumes no responsibility for any business losses you may incur as a result of using this data.
Fusion Media OR ANYONE INTERESTED WITH Fusion Media WILL NOT BE RESPONSIBLE FOR LOSS OR DAMAGE RESULTING FROM RELIANCE ON THE INFORMATION INCLUDING DATA, QUOTATIONS, GRAPHICS AND BUY/SELL SIGNALS CONTAINED IN THIS SITE. Please be fully aware of the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment.