The movement of XRP in the Securities and Exchange Commission (SEC) -Ripple conflict does not seem to be exciting as the asset ‘shakes’ near the bottom of the 200-day moving average (MA200) on the price chart.
Based on the technical angle and the current price position, XRP is still at the 50 -day moving average (MA50). The volatility of Ripple's assets indicates a "death cross" signal which has the potential to decline even more severely.
Examining the timeline of the case, it began when the SEC claimed XRP was a securities asset. However, Ripple clarified that the SEC cannot regulate XRP due to its use in domestic and international transactions.
The SEC is seen as stubbornly unwilling to budge, accusing Ripple of lobbying the public regarding XRP status. However, Ripple still recorded a small win of four times against the SEC.
Most recently, Ripple once again managed to win the right to obtain evidence from former SEC officer William Hinman. Hinman once claimed Ethereum as a non -securities asset in 2018.
Hinman's testimony was supposed to be scheduled for June 30, but was postponed to today, July 19. Again the court ruled Hinman's testimony was adjourned to July 27.
In addition to XRP, Bitcoin (BTC) also showed the emergence of a death cross in early June. But the crypto king has not yet penetrated to a more severe level as expected.
At the time of writing, XRP is trading at $ 0.58, down over 2% in 24 hours.
