On Friday, September 23 A well-known crypto analyst explains why the price XRP to recover well during the past week
TradingView data shows that XRP’s price has jumped from around $0.3238 to $0.4930, which has risen more than 52% within a week.
On December 22, 2020, the SEC Office Announcing that it has filed a lawsuit against Ripple Lab Inc. and two company executives, claiming they raised over $1.3 billion through XRP is a “secure-characterized and not legally registered” digital asset, which the SEC is arguing that XRP is a security under US federal securities laws.
However, yesterday, prominent analyst Ben Armstrong, also known as BitBoy Crypto, tweeted that the SEC will lose allegations that XRP is a security, but if XRP loses, traders have nothing to worry about. because the penalty should be only a fine
$XRP is pumping for multiple reasons. But if I were to pinpoint one… the SEC basically gave up this week trying to prove XRP is a security.
People in the #ripple community can be pretty confident now the worst case scenario is a fine.#xrparmy
— Bitboy Crypto (@Bitboy_Crypto) September 23, 2022
Ben Armstrong said that when the case is over, those who invest in XRP will be rewarded for their patience.
$XRP killing it this week. #1 gainer in top 100 with 33% gains… and yet this is only a taste of what is to come for the #xrparmy.
Your patience will be rewarded.
— Bitboy Crypto (@Bitboy_Crypto) September 22, 2022
Yesterday, John Deaton, one of the lawyers who had been following the case for a long time. also tweeted a statement from the SEC
On September 21, the company’s CEO Brad Garlinghouse Ripple I spoke with Messari co-founder and CEO Ryan Selkis at the Messari Mainnet conference in New York City about the SEC’s lawsuit against Ripple.
Source : Cryptoglobe