XRP Sustains Solid Momentum To $0.37 In All-Green 7-Day Climb

Ripple (XRP) has walked the last mile after it waded lows at $0.326 and surged by 16% in the last 48 hours. While everything is looking green and bullish, XRP is still faced with the $0.381 resistance, and if the coin fails to shoot over that means a correction is looming.

Timeline of Xrp

The US Securities and Exchange Commission (SEC) has been actively working to set regulations over the digital asset industry. However, this process has invited huge criticism from market leaders and experts.

Blockchain payment company Ripple released its Q2 financial report on Friday, detailing an impressive growth in transactions and On-Demand Liquidity (ODL) volume, despite the recent crash of the cryptocurrency market.

A U.S. judge recently quashed the Securities and Exchange Commission's (SEC) request to block XRP holders from aiding in Ripple's defence and prohibit attorney John E. Deaton from further participating in the proceedings.

Demand dried up below solid resistance, leading to a 15% correction in Ripple price. Although the bears increased the selling pressure on the first day of the week and sent the price towards the 50-day moving average, relative calm has prevailed in the last three days.

Ripple's general counsel claims that the SEC is bullying the crypto markets by filing unproven allegations masquerading as regulation. The lawyer accuses the SEC of not providing clarity through proper rule-making.

Ripple CEO Brad Garlinghouse has given his opinion on the potential verdict of the protracted lawsuit between his company and regulatory agency, SEC. The lawsuit has been on for about a year, with the agency leveling accusations of hosting and selling unregistered securities.

The U.S. Securities and Exchange Commission (SEC) has received heavy criticism from the digital asset industry's leaders over its regulatory policies. Now, a lawyer has revealed that SEC Chair Gary Gensler refused to meet the crypto companies last year.

General counsel for Ripple, Stuart Alderoty has stated in an opinion piece that the U.S. Securities and Exchange Commission is “bullying” the cryptocurrency markets by filing unproven allegations masquerading as regulations. Mr. Alderoty has called for an urgent need for sensible legislation to come from Washington.

Ripple's chief executive has shared his views on possible outcomes of the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of xrp, which the regulator claims to be an unregistered securities offering.

Leading crypto solutions provider, Ripple, recently signed a partnership deal with a Singapore-based payment platform FOMOPay. Ripple announced this development through a press release.