[코인리더스] Ripple CEO “SEC lawsuit, no impact on Asia-Pacific expansion”… What is the XRP price direction?

Over the past 24 hours, the popular cryptocurrency (virtual asset) Ripple (XRP) has shown a sideways trend within the range of $0.45 to $0.47. As of 10:30 pm on March 6th (Korean time), the market cap of Ripple (XRP), the 7th place in the coin market cap, is recording about $0.4555.

On the same day, analyst Rakesh Upadhyay, a contributor to the cryptocurrency media, Coin Telegraph, said, “Ripple bulls (buying forces) broke through the 20th exponential moving average (EMA, $0.467), but could not maintain momentum. It failed to break through the $0.50 resistance, but if the bulls defended the EMA on the 20th and pushed the price above $0.50, it could rally to $0.65.”

However, he pointed out, “After the XRP/USD pair falls to the simple moving average line (SMA, $0.42 line) on the 50th, the price can retreat to $0.359. If this price breaks, it could fall to $0.25.”

Meanwhile, Brad Garlinghouse, CEO of Reflap Labs, told Reuters on the 5th (local time), “The legal battle with the US Securities and Exchange Commission (SEC) is interfering with our activities in the US, The local project didn’t make much of an impact,” he said.

“We have been able to continue to grow our business because we have regulatory clarity in Asia and Japan. “We have a good relationship with regulators in the region,” he added.

Currently, Ripple token issuer Ripple Labs is suing $1.3 billion in lawsuits against the Securities and Exchange Commission (SEC) on charges of selling unregistered securities. Ripple argues that the SEC’s actions are over-regulated, and the SEC continues to claim that XRP is a securities.