Ripple can hire “clean” Ex-FTX employees

Ripple's CTO in a tweet today opened arms to employing Ex-FTX employees who were clean of the saga. The CTO further stated that Ripple could have bought FTX had it been in possession of the funds.

Timeline of Xrp

The possibility of FTX personnel pursuing a career at the crypto payment firm has been hinted at by David Schwartz, chief technology officer at Ripple. Earlier, Schwartz made an equivalent offer to Twitter employees, who had seen drastic layoffs as a result of the management shift and Elon Musk's arrival.

The CEO of financial technology firm InvestReady is seeking the court's approval to file a legal document that will support the U.S. Securities and Exchange Commission (SEC) in its legal suit against payments company Ripple Labs.

The XRP (XRP) price is trading above a long-term horizontal support area and ascending support line. Whether it breaks down or bounces will likely determine the direction of the future trend.

The XRP price has risen by 8% in the past day, with its current level of $0.394470 representing a 20% jump since it fell to around $0.33 in the wake of the FTX insolvency crisis. XRP is one of the best-performing major coins in the last 24 hours, although the outcome of the SEC-LBRY case casts doubt on Ripple's ability to come to a positive conclusion in its own case.

The cryptocurrency market witnessed a massive plunge over this week with the collapse of Sam Bankman-Fried's (SBF) FTX. However, the leaders engaged with the digital asset industry have alleged that the U.S. Securities and Exchange Commission (SEC) is responsible for this crisis.

Ripple (XRP) is in a downtrend as sellers broke through $0.41 support. The altcoin fell to a low of $0.31. Due to the current decline, XRP has entered the oversold zone. It can be assumed that XRP will soon resume an uptrend if there are buyers in the oversold area.

The XRP price has fallen by 2% in the past day and by 20% in the past week, as the fallout from FTX's apparent insolvency continues to wreak havoc on the cryptocurrency market. The altcoin is also down by 27% in the past month, with the downturn of the past few days all-but erasing gains it had posted following positive news coming out of Ripple's case against the SEC.

The US court is yet to decide the fate of long running Ripple Vs SEC lawsuit. However, the summary judgment of the crucial XRP lawsuit is witnessing a good number of individuals and firms asking to file Amicus Briefs.

The U.S. Securities and Exchange Commission (SEC) and Justice Department (DOJ) are investigating crypto exchange FTX. Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Circle CEO Jeremy Allaire call for a clear regulatory framework in response to Senator Elizabeth Warren's tweet on the need for aggressive enforcement in response to the crypto industry.

Leading fintech firm Ripple is set to bring real estate transactions to the native network of the $XRP token, the XRP Ledger, through a new partnership with blockchain-powered real estate marketplace ProprHome.