There was a shocking development in the crypto world. The US Securities and Stock Exchange Commission (SEC) removed the case against Ripple from the official website. This move excited XRP investors. So, does this mean victory for Ripple, or is there any other plan behind the scenes?
Why was the Ripple case removed?
The relief of the Ripple case from the SEC’s site created a great debate in the crypto community. Jemy Hogan, law expert, said the case may have been moved to the “ongoing cases” section. However, it was understood that there was no such category.
The case is still on the official appeal court site and there is no new filing. I mean, there’s no definite sign that the case has been completely reduced. But some investors believe that this development will result in Ripple in favor.
SEC’s new president and XRP expectations
As Kriptokoin.com, as we have reported, the current president of the SEC is changing and Pro-Cripto Mark Uyeda was appointed as a temporary president. This change increased speculation that the Ripple case could be closed soon.
However, a new SEC president is expected to be appointed later in the year. Experts say that a temporary president is likely to reduce a major case like Ripple. Nevertheless, the market closely follows this development.
XRP price and technical indicators
XRP is currently traded for $ 3.11. In the last year, he made a 492 %rise. The current price is only 18.96 %away from $ 3.84, the highest level of all time. Technical analysis shows that the XRP price is in a strong area. The RSI value indicates that it is 62.10 and the receivers holds control.
However, the MACD indicator signaled a decline a few days ago. If the volume does not increase, it may be possible to retreat the price to $ 3. Developments of the Ripple case may directly affect the XRP price. Investors are wondering how the market will react in this critical process. This seems to cause big investors to reconsider their positions and carefully monitor price movements.
