Ripple's General Counsel responds to SEC reports

Ripple's general council, Stuart Aldetory, in a recent tweet, cleared the air amid claims that the SEC had power to establish XRP's security status clarifying that the SEC had no such powers.

Timeline of Xrp

Recently, a former Goldman Sachs executive explained why he had “no issue” with XRP, the native digital asset of the open-source public XRP Ledger (XRPL), which was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto.

A bullish reversal from the rising support trendline may prolong the Ripple price consolidations for a few more days. However, under the influence of ascending triangle pattern, the altcoin should surpass the weekly resistance level of $0.4 and trigger a new recovery rally.

Macro expert and former Goldman Sachs executive Raoul Pal is expressing bullish sentiment on the digital asset XRP. In a new Ask Me Anything video, Pal says that XRP already has utility and is being used in money transfers.

Rumors about a close partnership between Ripple Labs and Bank of America have been circulating for quite some time. A tweet from Linqto now warms up this rumor again and reports a remarkable closeness between the company and the bank.

The XRP price has risen by 1.5% in the past 24 hours, reaching $0.358245 as the altcoin recovers from yesterday's market-wide selloff. It remains down by 23% in the last 30 days, yet hopes surrounding Ripple's case with the SEC promise to push it up higher in the coming weeks, as this case case draws to a long-awaited close.

Ripple CEO Brad Garlinghouse shows interest in purchasing companies owned by FTX that currently serve business customers According to Sunday Times, FTX CEO SBF called Garlinghouse before FTX went bust in plea to bid. There are currently 130 companies associated with FTX in bankruptcy filings The new FTX CEO John Ray admits that he has never seen such a complete failure of crypto controls as FTX.

Ripple CEO Brad Garlinghouse has shown interest in purchasing certain parts of the FTX empire.  Garlinghouse claimed to have received a call from the resigned FTX CEO Sam Bankman-Fried two days before filing for bankruptcy.

Ripple might be interested in buying some of the assets of the recently bankrupted exchange FTX, The Sunday Times reported. The post Ripple to the Rescue as CEO Plans to Acquire Some FTX Businesses Following Collapse appeared first on BeInCrypto.

XRP bulls appear to have regained momentum with Ripple's native token targeting new price levels despite the market uncertainty. Notably, at the start of the week, XRP bears seemed to have the upper hand with the asset reacting to the fallout of the FTX cryptocurrency exchange crisis.

The CEO of Ripple Labs, Brad Garlinghouse, believes that the crypto industry will come out stronger after the FTX meltdown if transparency and trust remain its key focus. He stressed the importance of having “honest conversations about solving real-world problems with crypto and blockchain.