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Ripple Vs SEC: Here’s Why Ripple’s Chance Of Winning the Lawsuit is Reduced

10 Oct, 20222 min readRegulation
Ripple Vs SEC: Here’s Why Ripple’s Chance Of Winning the Lawsuit is Reduced

Charles Hoskinson, the founder of Cardano, recently stated on Twitter that Ripple’s prospects of succeeding in its legal battle with the SEC may be decreased by making unfounded accusations of corruption against the agency.

The XRP Army were enraged lately when Hoskinson called their claims of corruption against former top SEC officer Willian Hinman “a great conspiracy theory.”

This happens after a recent response of attorney John Deaton Hoskinson about corruption. Stating that it won’t have any bearing on the court’s ruling regarding the regulatory position of XRP. Hoskinson declared that the situation was entirely different and needed to be handled as such.

Deaton has been at the forefront of the XRP case. In a class action complaint against the Securities and Exchange Commission for severe losses, the author of Crypto Law is currently representing more than 72,000 XRP investors.

Some XRP supporters tweeted that they were “digging dirt” on Hoskinson and that he was working with the Ethereum Foundation. Due to the constant attacks, which the co-founder of Cardano called “sad” and “shameful,” he declared that he had no desire to work with Ripple or the XRP community.

XRP Price!

Coinmarketcap reports that XRP is presently trading at $0.5267, a price increase of 2.63%. It reached a high of $0.5414 and a low of $0.5154 over the course of the previous day. While the trading volume is $1,974,846,578 and the market capitalization is $52,673,509,929, respectively. There are 49.86 billion XRP in existence.

The MACD line is observed crossing the signal line, a strong indication of positive momentum, while the RSI is currently at 67.48, showing that XRP is in overbought territory. The market is being controlled by bulls, according to all signs.

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