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Ripple faces SEC as XRP grows; Can clear laws lead to further change? Explanation of XRP price prediction.
XRP has gained 12% since the beginning of the year, building strongly as Ripple rises to pressure US regulators to issue clear guidelines on cryptocurrencies.
In a letter to the US Securities and Exchange Commission (SEC), Ripple called on the SEC’s cryptocurrency panel to provide transparency and fairness in its process.
If successful, this move could signal a significant change in sentiment towards XRP and support XRP’s future price prospects.
He argued against other vague definitions such as “decentralization” and described it as a “predictable” way to evaluate blockchains and cryptocurrency projects.
The letter said: “Not all influence is controlling. A shared interest in the value of a commodity is not controlling. Participation in the operation of an open network is not controlling. Merely owning property or being converted into property as property does not constitute control.”
This argument argues that the XRP ledger is centralized because of Ripple’s actions.
Ripple’s role in the country’s legislative process could pave the way for better legislation that helps cryptocurrency projects like the XRP Ledger succeed.
XRP Price Prediction: ETF Assets Continue to Rise – XRP Price Could Reach $2.7 Soon
The four-hour chart shows that XRP has broken out of its bearish trend as Wall Street’s appetite for the currency continues to grow.
However, this side faced a strong sell-off at $2.40, which made this level more critical to predict the future in the coming period.
Currently, the price of XRP is finding strong support at the 200 Exponential Moving Average (EMA) in the short term. If the price drops to this level, the chance of repeating the level of $2.40 will be very high.
Meanwhile, if the triangle reaches its conclusion, it means that the price of XRP will reach $2.70 in a few weeks from now.
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A note XRP Price Forecast Today: Ripple criticizes SEC rules on cryptocurrencies – Will XRP finally be freed from legal restrictions? appeared for the first time Cryptonews Arabic.
