Ripple as well as XRP has been making quite some noise today. From its Q3 report to the latest news about its battle against the Securities and Exchange Commission [SEC], Ripple has been creating an uproar.
Ripple and SEC lawsuit
The fintech firm went on to give the community an update about its tiff with the SEC in its latest report.
Recently, Ripple managed to score a big win after the court granted the firm access to William Hinman’s documents. The speech made by the former SEC director was expected to work in favor of Ripple. Highlighting the next few steps, Ripple wrote,
“In terms of next steps, in November, the SEC and Ripple will file reply briefs, and, from there, await the Judge’s decision on the motions.”
In addition, the firm intends to bring about regulatory clarity in the United States with regard to crypto. It seems like Ripple was making big moves with this lawsuit as there was uncertainty around the SEC’s involvement in crypto.
Recent events indicate that the SEC initially raised various objections to the Amicus Curiae before ultimately approving it. District Judge Analisa Torres was advised on this in writing by the SEC.
XRP weekly performance
As seen in the below image, XRP had a volatile week. The asset managed to witness several spikes throughout the week along with multiple downfalls as well. The altcoin rose from a low of $0.4454 all the way to a high of $0.4805.
At press time, XRP was trading for $0.4624 with a 2.23 percent daily drop. In terms of weekly gains, the altcoin pocketed a mere 4.43 percent.
What’s in store for XRP investors?
The daily chart of XRP/USD exhibited a bearish notion. The Parabolic SAR indicator formed dotted lines over the candlesticks which acted as a hurdle against any potential uptrend. The MACD indicator mirrored this sentiment with a bearish crossover.
The Relative Strength Index [RSI] indicator noted that the buying and selling activity in the market was in sync.