The US regulators SEC along with Ripple are involved in a lengthy legal battle about the condition of XRP whether it is secure or not. The XRP community was ecstatic over Judge Torres decision on the release of old Hinman documents. XRPArmy has criticized Charles Hoskinson over his comments regarding Ripple.
Important dates in crucial dates in the SEC and. Ripple lawsuit are set and both sides are prepared to fight for a long time. On the 18th of October, both the US regulator and the giant of payments are required to file all documents related to the opposition to summary judgement under seal. The filing will include exhibits and briefs.
On the 20th of October, the parties will meet and discuss to determine the redactions requested by both sides in their opposition briefs. The 24th of October is the most important day for the SEC v. Ripple lawsuit as both parties are required to file public versions of their opposition briefs on that date.
Charles Hoskinson, the founder of Cardano expressed his opinions on Ripple in connection with this SEC lawsuit. Hoskinson clarified his position regarding the matter and said that he disagrees with the notion that the securities regulator that they are looking to take over Ripple along with the XRP token associated with it is not due to corruption within the SEC but because of insufficient clarity wanting to regulate the entire cryptocurrency area. He tweeted last week that Hoskinson believes that XRP should be controlled as a commodity by CFTC and not the SEC.
Chris Larsen, Ripple co-founder and former CEO, voiced his approval for Hoskinson and his remarks. Despite the endorsements from Ripple's top executives, XRPArmy has a negative view of Hoskinson's remarks.
Analysts have analyzed the XRP price trends and found significant resistance around the $0.55 mark. The altcoin has not been able to get past this point and NFTMystic_ crypto analyst and trader, believes that the the price of XRP could remain below the $0.55 price in the near time.
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