XRP Price Prediction as Lawsuit Conclusion Approaches – $3 Soon?
XRP price prediction remains slightly bullish, especially above the upward trendline-driven support level of $0.44. Moreover, investors' focus also stays on the SEC vs. Ripple battle as its conclusion approaches soon.
Members of the XRP community can feel positive With the SEC v. Ripple litigation nearing a final verdict, the distributed ledger startup has taken a major step back from the cryptocurrency in an effort to "desecuritize" it by reducing the percentage it holds in its wallets to below half of the entire XRP supply.
It is the first time in history that Ripple's XRP reserves have fallen below 50% of the entire supply. Due to its massive ownership of the cross-border remittances token, XRP, Ripple has been the focus of controversy in the past.
Some critics have argued that this gives Ripple full control over the XRP Ledger.
Last Thursday, Ripple published its third-quarter markets report, which showed a significant drop in the number of XRP coins it possessed.
In response to allegations that it controls more than half of the XRP in circulation, the American company pointed out that it now holds fewer than 50 billion coins.
Ripple, a blockchain company, has been locked in a bitter legal battle with the US Securities and Exchange Commission for almost two years. On January 15, 2019, US District Court Judge Analisa Torres granted the requests of Investor Choice Advocates Network and SpendTheBits to file amicus curiae briefs in support of Ripple.
Motions to submit the briefs were filed earlier this month by Investor Choice Advocates Network and SpendTheBits in an effort to support Ripple's position. Many times, non-parties to a case will file what is called "amicus curiae briefs" to offer the court further insight into
Read more on cryptonews.com
