In the SEC and Ripple lawsuit, the payments giant has sought to file subpoenas and verify videos of SEC officials’ public statements. This evidence makes Ripple stronger against the SEC. Altcoin investors are now waiting for a potential breakout in XRP. The expert, who closely follows the litigation process and technical movements, says that the break is near.
Ripple defendants to send subpoenas to SEC officials
Judge Sarah Netburn, who presided over the SEC and Ripple case, gave the payments giant the motion to submit subpoenas to corroborate videos of SEC officials’ public statements. The defendant will now present two subpoenas to seven SEC officials. Judge Netburn ignores the SEC’s claim that the defendants are trying to rediscover the facts. The result of authenticating the videos will be critical to Ripple’s defense.
What does the development mean for average altcoin investors?
Altcoin investors are expecting a positive outcome from the summons by Ripple’s lawyers to SEC officials. It strengthens Ripple’s defense against the accusations made by the regulator after the authorities confirm the statements made by them. Ripple’s likely win in the battle against the SEC and expanding its liquidity platform supports the adoption of XRP. Analysts, on the other hand, show a positive outlook by looking at the daily price chart. Experts predict a rally to $0.41 for XRP, which is currently trading at $0.3736. Bob Mason, a prominent crypto analyst, has identified three main resistance levels in the XRP price rally.
XRP’s next key levels, according to crypto analyst Bob Mason
Mason says the initial resistance for XRP is at $0.3871. The second resistance will be at $0.3986. The crypto expert says the third resistance is at $0.4167. The bullish view will be invalidated if XRP price fails to break the second resistance levels and drop to $0.3443.
Popular analyst Rudy Fares has set this price range for the altcoin
Rudy Fares, another crypto analyst, observed that the XRP price has been consolidating between $0.30 and $0.40 for a long time. While other cryptocurrencies like MATIC have brought big gains to their holders, XRP has lagged behind. Once XRP price crosses $0.40, it is expected to rise further and catch up with other altcoins in the market.
Will Ripple buy this altcoin project?
One of the developments that brought Ripple to the agenda last week, which you follow on Kriptokoin.com, was the possible Celsius investment. During the week, a Ripple spokesperson said the company is interested in acquiring Celsius. However, no clear information has been shared from the parties on this issue so far. Due to the Ripple news, the CEL price also had the opportunity to recover substantially throughout the week. Celsius (CEL) has gained over 90% since last week.
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