XRP, the digital asset linked to Ripple, has ended its downward trend with a notable 24% weekly gain, closing at $0.5208. This upturn coincides with Ripple CEO Brad Garlinghouse’s reflections on the anniversary of a crucial legal decision regarding XRP sales.
Garlinghouse expressed strong criticism of the SEC’s regulatory approach, describing it as an “unlawful war” on the crypto industry. His comments highlight the ongoing tension between innovation and regulation in the digital asset space.
Recent legal developments, including favorable rulings in cases involving Grayscale and Binance, have bolstered the crypto sector’s position. These decisions may set precedents for future regulatory actions and court cases.
The crypto community is closely watching other pending legal matters, particularly the SEC’s case against oinbase">Coinbase. The outcome could have far-reaching implications for the regulatory oversight of U.S. crypto exchanges.
From a technical perspective, XRP’s price action shows mixed signals. While it remains above the 50-day moving average, suggesting short-term strength, it has yet to breach the 200-day average, indicating longer-term challenges.
As the regulatory landscape continues to evolve, investors and industry participants should stay informed about legal developments that could impact XRP and the broader cryptocurrency market.
XRP Surges Amid Regulatory Debates
