Ripple reached its highest price level in 39 days

Ripple reached its highest price level in 39 days

Ripple's cryptocurrency, XRP, hit $ 0.609 yesterday. Following this important achievement in the Bitstamp exchange, Ripple managed to reach its highest price level since February 22. At that time, XRP briefly touched the $ 0.65 level.

Ripple is confident of winning the court

The token experienced a massive crash in late December last year following a lawsuit filed by the US Securities and Exchange Commission against Ripple.

Holders of XRP currency, who have recently been able to file a lawsuit, claim that the lawsuit has resulted in "multibillion-dollar damages" to them. In his latest interview with CNN's Julia Chatterley, Ripple CEO Brad Garlinghaus assured CNN that the blockchain company would "win" the lawsuit.

It should be noted that the legal battle of this company with the Stock Exchange and Securities Commission has entered its fourth month.

Transfer of 127 million XRP tokens by Ripple and Bainance Exchange

Transfer of 127 million XRP tokens by Ripple and Bainance Exchange

In the past 24 hours, Ripple and Bainance Exchange, along with a small exchange, have moved 127.3 million XRP tokens (71,858,922) between their wallets, according to the Whale Alert.

The SEC-battered company transferred 39.1 million XRP tokens to Bainance, and then the same amount of XRP was transferred between Ripple wallets.

As reported by U.Today earlier this week and last week, Ripple has been successful in defending its interests in the legal battle against the US Securities and Exchange Commission, which began in late December 2020. .

The first sign of success is that the federal court has agreed to hold a conference call over Ripple's request to force the SEC to produce documents on the insecurity of Bitcoin and Atrium. This event will be held on April 6 (April 17).

The second step forward is that the XRP Association is now legally allowed to intervene in the lawsuit.

Interestingly, Jay Clayton, the former head of the SEC who took legal action against the company, has now joined the One River Asset Management Fund - which deals with digital currencies including bitcoin and ether.

Ripple proved that the SEC did not warn them about the "securities" of the XRP currency

Ripple proved that the SEC did not warn them about the "securities" of the XRP currency

During a pre-trial conference between Ripple and the Securities and Exchange Commission (SEC), Matthew Solomon, who represented Ripple CEO Brad Garlinghouse, claimed that in the countless discussions that took place during the year In 2019, the SEC did not inform exchanges about the status of XRP "securities".

We have found findings that show that in 2019, the SEC had complex discussions with key market players such as exchange offices and apparently did not inform them at the time that the currency XRP is considered as a securities or investment contract. "Once again, as the case progresses, it becomes clear that the XRP currency cannot and will not be considered a security."

Ripple executives want to end the complaint!

Garlinghouse also filed a petition at the previous conference to close the lawsuit.

His lawyer at the conference denied Garlinghouse's involvement in Ripple's sales program. This charge is one of the main parts of the SEC complaint. The lawyer insists that his client did not know that XRP currency could be considered an investment contract.

Another former Ripple CEO, Chris Larsen, is represented by Paul Weiss’s Martin Flumenbaum. He also claimed that his client also requested that the case be closed.

SEC ready to attack Ripple!

Jorge Gerardo Tenreiro, Jon Daniels and several others represent the SEC. They insist that Ripple offered and sold the XRP currency as an investment contract.

The legislature warned federal judge Analisa Torres that it was likely to respond to Ripple's defenses.

In response, Ripple's lawyer, Andrew J. Ceresney, accused the company of trying to prevent the truth from being discovered.