Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP price has shown a strong reaction after the (fake) news of the alleged sale of 9,800 BTC by the US government and the subsequent sell-off across the crypto market, staying above the key support. However, XRP investors have yet another damper to digest today. Ripple CEO Brad Garlinghouse said during the Dubai Fintech Summit that he expects a ruling in the legal battle with the U.S. Securities and Exchange Commission (SEC) by the end of the third quarter of 2023. In a previous statement in January at the World Economic Forum, Garlinghouse still expressed his optimism that a ruling will come in the first half of 2023 (by the end of the second quarter). Ripple CEO Lowers His Expectations For A Verdict During the interview at the Dubai Fintech Summit, the Ripple CEO emphasized the protracted nature of the legal battle with the SEC, stressing that the case has been ongoing for two and a half years. While this is a long time, Garlinghouse pointed to a silver lining: So it has certainly been frustrating and slow, But the good news is we are at the end of that journey. While others in the crypto might be beginning their journey, the silver lining is that Ripple is now at the end. Furthermore, Garlinghouse revealed that he “expects a resolution in the next two or six months.” The Ripple CEO conceded Judge Analisa Torres has additional deliberation time, as she has extensive information to process and make a decision based on it. Related Reading: Whales Move Significant Chunk Of XRP Tokens As Price Trends Sideways Ultimately, Garlinghouse indicated that, like everyone else, he can only guess how long Judge will need to make her decision: A federal judge can operate on whatever timeline, in this case, she would like, but I am optimistic we can see a resolution, I believe, before the end of Q3. XRP Price Holds Key Support The XRP price is following the current market sentiment today and is slightly in the red today, down -0.34% over the last 24 hours. At press time, XRP was trading at $0.4253, holding above key support at $0.4131. Related Reading: XRP Price Prediction: Ripple Plunges to $0.42: Can Bulls Save the Day? The support is key because a break to the downside would knock the XRP price back down the trading range from early November 2022 to mid-March 2023. XRP had spent over four months in this trading range before an impulsive move higher on March 21. If XRP closes below $0.4131 on the 1-day chart, it would be an extremely bearish signal. On the upside, XRP first faces the 200-day Exponential Moving Average (EMA) at $0.4353 again. The indicator is often referred to as the “bull boundary” and is accordingly of great importance to subsequently break through resistance at $0.4402 and regaining bullish momentum. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":531214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[3680,3799,4531],"class_list":["post-531204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-sec","tag-xrp"],"acf":[],"yoast_head":"\n
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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Holds Above Key Support As Ripple CEO Predicts Delay Of Verdict","url":"http:\/\/wncen.com\/news\/xrp-holds-key-support-ripple-ceo-predicts-delay\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-holds-key-support-ripple-ceo-predicts-delay\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1323355582.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1323355582.jpg?fit=2121%2C1414"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","sec","xrp"],"dateCreated":"2023-05-11T11:50:26Z","datePublished":"2023-05-11T11:50:26Z","dateModified":"2023-05-11T11:50:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Holds Above Key Support As Ripple CEO Predicts Delay Of Verdict\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-holds-key-support-ripple-ceo-predicts-delay\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-holds-key-support-ripple-ceo-predicts-delay\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1323355582.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1323355582.jpg?fit=2121%2C1414\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"sec\",\"xrp\"],\"dateCreated\":\"2023-05-11T11:50:26Z\",\"datePublished\":\"2023-05-11T11:50:26Z\",\"dateModified\":\"2023-05-11T11:50:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1323355582.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/531204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=531204"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/531204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/531214"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=531204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=531204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=531204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/XRPUSD_2023-05-11_13-24-31.png?resize=3625%2C1672\")