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Ripple Executive Criticizes SEC’s Endless Crypto Battle as XRP Aims for Recovery

Navigating the Cryptocurrency Legal Landscape: Ripple's Response and XRP's Resilience Amid Regulatory Uncertainties.

by Alexander
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Ripple‘s Chief Legal Officer, Stuart Alderoty, lashes out at the SEC for its perpetual crypto warfare, emphasizing the need for regulatory clarity. Meanwhile, XRP price eyes a rebound following a recent court ruling.

Ripple CLO Responds to Terraform Case

Stuart Alderoty, Ripple’s Chief Legal Officer, addressed the recent Terraform case ruling, highlighting the absence of criticism or reference to Judge Torres’ previous Ripple ruling by Judge Jed Rakoff. Alderoty expressed concern over the SEC’s protracted legal battles, characterizing it as an unending crypto ground war.

XRP Price Resilience

As XRP traded sideways below $0.65, Alderoty’s remarks coincide with XRP’s resilience, holding steady above the $0.60 psychological threshold. The ongoing legal skirmishes have not deterred the altcoin, which aims for a recovery to its November peak of $0.7499, maintaining an upward trend since October 2023.

SEC’s Crypto Battle

Alderoty condemned the SEC‘s relentless pursuit of cryptocurrency firms and tokens, describing it as a protracted legal process fought token by token. The absence of regulatory clarity adds uncertainty to the industry and hinders its growth potential.

Path to Recovery

XRP’s current price at $0.6200 positions it above the 200-day Exponential Moving Average (EMA) at $0.5693, indicating potential resilience. While the altcoin has seen minimal changes in the past week, it seeks a return to higher valuation levels, pending regulatory uncertainties.

XRP/USDT 1-day chart

The SEC’s approach to crypto regulation and ongoing legal battles underscores the need for a clear regulatory framework, providing stability and fostering industry growth.

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