Price Analysis

XRP Price Put Up An Amazing Rally! SEC Files Emergency Motion

Written by: Anjali Belgaumkar

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Aug 11, 2021

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The price of XRP was lifted by the rising attitude in the crypto sector. Ripple Retests the $0.85 Resistance Zone and Eyes the $1.00 High XRP is up 12.5 percent this week after breaking over a bullish flag and poking through the 2020 highs. Anti-Bitcoin bulls are also showing up. 

In the 4-hour technical chart, the XRP currency price finally broke over the $0.77 resistance level. The price of XRP and other altcoins is also rising, indicating a market-wide uptrend.

XRP Price

As the altcoin is able to climb higher, Ripple is still trading in a bullish trend zone. Its hourly social volume grew by 122.22 percent, and it is now trading at $0.81. XRP might climb to $0.92 and then $1.09 if the price stays above $0.78. XRP might also reach $1.00 or $1.07 if buyers break through the $0.83 resistance. 

Ripple vs SEC

Jorge Tenreiro, an attorney with the Securities and Exchange Commission (SEC), has filed an emergency application for a discovery session examining Ripple workers’ use of Slack.

The US Securities and Exchange Commission has asked magistrate judge Sara Netburn to order Ripple to provide more of its slack history in a recent filing with the Southern District Court of New York. 

According to the SEC, more than one million messages or gigabytes of data must be searched. This is due to the fact that Ripple employees used the Slack messaging tool as frequently as they did email. 

While the court has repeatedly denied the SEC’s request for agency, it did enable the SEC to see Ripple’s slack history. The defendant’s lack of cooperation was cited.

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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