Ripple (XRP) has experienced significant fluctuations over the past year due to the lawsuit filed by the SEC. Even though tensions between the opposing parties have lessened, uncertainty regarding the token’s price persisted. Last week, major Ripple investors engaged in notable movements. At the time of writing, approximately 11 million XRP, valued at about 6.82 million dollars, were purchased. This reflected significant activity among large holders and market dynamics. The purchase indicated an increase in capital flow into XRP.
On November 26, Ripple’s lawyer John E. Deaton criticized Senator Elizabeth Warren for failing to assist over 300 investors in Massachusetts. Deaton also accused Warren of violating her oath by providing questions and suggested answers to SEC Chairman Gensler instead of supporting investors.
The crypto community reacted to increasing regulatory threats, such as the CFTC issuing more compliance warnings in line with the actions of the SEC and DoJ. Consequently, the outcomes of the Ripple, Kraken, and Coinbase cases could shape US cryptocurrency regulations. Key dates, for instance, the upcoming Coinbase hearing and Ripple’s decision hearing, could influence crypto markets and legal responses to SEC actions.
Judge Failla’s decisions could affect the SEC’s regulatory approach, including potential appeals in the XRP programmatic sales case. At the time of writing, XRP was trading at $0.6083, down 2.08% in the last 24 hours. XRP’s trading volume had also decreased. However, things could improve for XRP’s progression, and there could be new updates that may increase market sentiment.
Ripple’s acquisition of Metaco and its collaboration with HSBC ignited optimism among XRP enthusiasts. While the headline of a cryptocurrency often leads to optimistic assumptions, the CEO of Metaco challenged simple narratives by stating that ongoing efforts could take up to 18 months.