Ripple vs. SEC Lawsuit Rumored to be Nearing Possible End
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After over a year of back and forth, Rippe could finally take a breath of fresh air. An inside source told reporters that an official announcement on a possible settlement should be made next week. Meanwhile, an anonymous Twitter user wrote:
“Anyone else heard the rumor? Settled. All staff on the SEC vs. Ripple case have been reassigned. A week until the news [is] in public.”
The Twitter user also noted that the watchdog was hiring new staff to prosecute illegal currencies. The tweet elicited a frenzied reaction amongst many crypto enthusiasts, as many Ripple supporters have waited for too long for an end to the lawsuit.
Founder of popular crypto YouTube channel BitBoy Crypto, Ben Armstrong, also expressed his excitement to the news. With many others, Armstrong hopes the rumors are indeed true and noted:
“I can 100% confirm that I am praying this is true. Have included in my nightly prayers since October 1.”
This rumor comes shortly after clips from a recent interview with SEC Chair Gary Gensler surfaced, showing Gensler admitting that the agency expects to take some losses in its battles.
Key Ripple Levels to Watch — March 4
Along with the rest of the crypto industry, XRP has fallen into a bearish momentum, despite the rumors of a possible lawsuit conclusion with the SEC. The cryptocurrency has now breached the $0.7300 level as the $0.6000s come into view again.
XRP has now maintained a steady downward trajectory since February 8, with the cryptocurrency set to record more bearish price trends on the larger timeframes. That said, I expect some bearish fireworks over the weekend towards the $0.6500 critical support.
Meanwhile, my resistance levels are $0.7300, $0.7500, and $0.8000, and my support levels are $0.7000, $0.6800, and $0.6500.
Total Market Capitalization: $1.76 trillion
Ripple Market Capitalization: $34.2 billion
Ripple Dominance: 1.94%
Market Rank: #6
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