{"id":565754,"date":"2021-02-17T12:20:36","date_gmt":"2021-02-17T09:20:36","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565754"},"modified":"2021-02-17T12:20:36","modified_gmt":"2021-02-17T09:20:36","slug":"xrps-0-50-support-continues-to-hold-ahead-of-ripple-sec-pre-trial","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrps-0-50-support-continues-to-hold-ahead-of-ripple-sec-pre-trial\/","title":{"rendered":"XRP&#8217;s $0.50 Support Continues to Hold Ahead of Ripple\/SEC Pre-trial"},"content":{"rendered":"<p><strong>In brief:<\/strong><\/p>\n<ul>\n<li><strong>Ripple and the SEC have a pre-trial conference on the 22nd of February<\/strong><\/li>\n<li><strong>The SEC does not believe there is a prospect for settlement at this time thus increasing the chances of a full trial<\/strong><\/li>\n<li><strong>XRP&#8217;s $0.50 support is a level to watch ahead of the pre-trial event on the 22nd<\/strong><\/li>\n<\/ul>\n<p>On the 22nd of February, the SEC and Ripple will have a pre-trial conference to decide on the next steps in the <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-army-petitions-white-house-to-stop-secs-lawsuit-against-ripple\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">ongoing lawsuit<\/a> against the latter company. The pre-trial conference will be between the defendant, the prosecutor and the judge handling the case.<\/p>\n<h2>SEC Do Not Believe in Settlement at This Time<\/h2>\n<p><a href=\"https:\/\/www.courtlistener.com\/recap\/gov.uscourts.nysd.551082\/gov.uscourts.nysd.551082.45.0.pdf\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">In a letter<\/a> to Federal Judge Analisa Torres of the US District Court for the Southern District of New York, the SEC explained that they had discussed the possibility of a settlement with Ripple. However, the SEC does not believe there is a prospect for settlement at this time. Therefore, it is highly likely that the lawsuit could morph into a trial that could be pivotal <a href=\"https:\/\/en.ethereumworldnews.com\/ripple-xrp-could-benefit-from-a-biden-administration-analyst\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">in setting a precedent<\/a> for <a href=\"https:\/\/en.ethereumworldnews.com\/ripple-ceo-u-s-regulators-need-to-lean-into-digital-currencies\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">crypto regulations<\/a> in the United States.<\/p>\n<h2>XRP&#8217;s $0.50 Support is an Area to Watch<\/h2>\n<p>With respect to price, XRP is currently trading at $0.52 as a result of renewed interest by traders from the crypto wing of the WallStreetBets online community: SatoshiStreetBets. Furthermore, the trading of XRP is still very much available to U.S hodlers via the <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-has-real-utility-and-could-keep-rallying-crypto-analyst\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Uphold crypto exchange<\/a>. The latter exchange decided to take a wait-and-see approach rather than delisting the remittance coin.<\/p>\n<p>A brief look at the 6-hour XRP\/USDT chart below, reveals that the $0.50 support could continue to hold even with the uncertainty of what might transpire during the pretrial conference on the 22nd.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th.png\"><img class=\"aligncenter size-full wp-image-565755\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th.png\" alt=\"\" width=\"1014\" height=\"586\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th.png 1014w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th-300x173.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th-770x445.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th-500x289.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th-240x139.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/02\/XRPUSDT-Feb-17th-717x414.png 717w\" sizes=\"(max-width: 1014px) 100vw, 1014px\" title=\"\"><\/a><\/p>\n<p>Also from the 6-hour XRP chart above, it can be observed that the 6-hour MACD is hinting of increased buying through its histograms changing color from red to pink. Furthermore, the 6-hour MFI and RSI are also in oversold territory at values of 22 and 44 respectively.<\/p>\n<p>Therefore, <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-ripple-xrp-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">XRP<\/a> could experience a brief relief rally to the $0.60 price area before the 22nd of this month. A drop will most likely follow due to the possibility of panic selling or reduced trading as XRP traders wait for positive or negative news regarding the pre-trial conference between Ripple and the SEC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief: Ripple and the SEC have a pre-trial conference on the 22nd of February The SEC does not believe there is a prospect for settlement at this time thus increasing the chances of a full trial XRP&#8217;s $0.50 support is a level to watch ahead of the pre-trial event on the 22nd On the 22nd of February, the SEC and Ripple will have a pre-trial conference to decide on the next steps in the ongoing lawsuit against the latter [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":561327,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4656],"tags":[84,5530,6957,108197],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565754"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=565754"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/561327"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=565754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=565754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=565754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}