$XRP: Ripple's General Counsel Says U.S. SEC Does Not Have Power To Remake the Law

On Wednesday (September 21), Stuart Alderoty, who is General Counsel at Ripple, commented on the ongoing lawsuit (against Ripple) that was initiated in December 2019 by the U.S. Securities and Exchange Commission (SEC). Aldertoy, who has been Ripple's General Counsel since January 2019, made his comments while speaking to CoinDesk TV's flagship show “First Mover”.

Timeline of Xrp

The price of XRP has jumped by 20% in 24 hours, reaching $0.512129 as of writing. This represents a surge of 56% in a week, as positive developments in the legal battle between Ripple and the SEC indicate that the case could be settled sooner rather later.

Amid increasing demand for regulatory clarity around digital assets, US SEC filed its motion for Summary Judgement in the XRP lawsuit recently. This event has boosted the hopes of the Ripple community of seeing a resolution over the XRP's nature soon.

XRP has managed to outperform every cryptocurrency in the top 100 coins by market cap gaining over 67% in the last week alone, but what's behind these bullish waves? The post XRP Whales Continue Accumulating as Sentiment Turns Positive appeared first on BeInCrypto.

XRP price surprised with its magnificent moves in the past couple of days, gaining more than 62% since the beginning of the week. The main reason behind the rise is assumed to be the comments of the Ripple CEO, Brad Gardlinghouse who believes the settlement may be around the corner.

A positive court ruling in the US Securities and Exchange Commission's (SEC) case against Ripple could lead to a price surge for XRP, the company's token. The SEC claimed that Ripple had sold unregistered securities in the form of XRP tokens, and the case was scheduled to go to trial.

Despite an largely dull cryptocurrency market, Ripple (XRP) appears to be an exception of sorts. In an environment that is largely driven by a negative price momentum, XRP has recently shown great price jump.

Ripple's native cryptocurrency XRP is on a roll over the last week defying the broader market momentum and making big gains. As of press time, XRP is trading 30% in the last 24 hours breaking past the crucial resistance of $0.50.

Poly Network has announced that it will integrate open-source, public, and decentralized Layer-1 blockchain, XRP Ledger into its protocol to facilitate cross-chain transactions and cross border payments.

Ripple's top lawyer thinks “regulatory hostility” is hurting crypto innovators and retail investors alike. Ripple's general counsel, Stuart Alderoty, says in a new discussion at a Politico event that the San Francisco-based payments firm has not signed a single US customer to its platform since December 2020, when the U.S.

XRP, Ripple's native token prices are riding high while other major cryptocurrencies are trading under heavy selling pressure. XRP has emerged as the top gainer over the past 7 days beating all the market sentiments.