- Pro XRP lawyer has clarified the timeline for a summary judgment in the Ripple vs SEC battle.
- Ripple (XRP) price recovers from the recent downturn following the Bitcoin and Ethereum.
Ripple (XRP), the leading crypto, never fails to spark excitement in the cryptocurrency community. Ripple has grabbed attention not only for its potential but also due to an ongoing Ripple vs SEC legal lawsuit.
Lawyer John Deaton, who has been vocal about his support for XRP, has clarified his position regarding the timeline for the issuance of a summary judgment in the Ripple vs SEC case. The extended duration of the lawsuit has raised concerns within the cryptocurrency community, leading to discussions on social media.
In addition, previously, John Deaton had mentioned that the lawsuit was nearing its conclusion. But the latest update in the lawsuit judgment indicates the Ripple vs SEC battle has not yet ended and needs more time.
Ripple (XRP) Price Bounces Back
The outcome of the lawsuit holds significant implications for XRP investors and the cryptocurrency’s future. Despite the legal battle, Ripple continues to command attention and maintain its presence in the market.
During the past week, Ripple’s XRP experienced a correction as it dropped below key support levels. Ripple price even briefly fell below the $0.465 support level, reaching a low of around $0.44. However, XRP has since started to recover and is following the upward trend seen in Bitcoin and Ethereum.
Ripple (XRP) Price Chart (Source: Tradingview)
Currently, XRP has surpassed the resistance levels and moved to the swing high of $0.49.15. At the time of writing, the XRP price had soared over 1.5% in a week to trade at $0.4908. Also, the 100 simple moving average (MA) signals a significant bullish trend line is forming with support near $0.5011 on the chart of the XRP/USD pair.
However, these developments indicate a potential recovery for XRP, but it remains to be seen whether the bullish momentum will sustain.
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