{"id":28686,"date":"2023-10-19T22:57:18","date_gmt":"2023-10-20T01:57:18","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2023\/10\/19\/sec-drops-lawsuit-ripples-brad-garlinghouse-and-chris-larson-vindicated\/"},"modified":"2023-10-19T22:57:18","modified_gmt":"2023-10-20T01:57:18","slug":"sec-drops-lawsuit-ripples-brad-garlinghouse-and-chris-larson-vindicated","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2023\/10\/19\/sec-drops-lawsuit-ripples-brad-garlinghouse-and-chris-larson-vindicated\/","title":{"rendered":"SEC Drops Lawsuit, Ripple’s Brad Garlinghouse and Chris Larson Vindicated"},"content":{"rendered":"

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The Thursday Overview<\/h2>\n

On Thursday, XRP<\/a>\u00a0rallied 6.62%. Reversing a 0.65% decline from Wednesday, XRP ended the day at $0.5204.<\/p>\n

SEC Drops Lawsuits Against Ripple Co-Founder Chris Larson and CEO Brad Garlinghouse<\/h2>\n

On Thursday, news<\/a> broke of the SEC dropping the charges against Ripple co-founder Chris Larson and CEO Brad Garlinghouse.<\/p>\n<\/div>\n<\/div>\n

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Defense attorney James Filan shared<\/a> the court filing, which addressed the pending case against Ripple, stating,<\/p>\n

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\u201cThe SEC and Ripple intend to meet and confer on a potential briefing schedule with respect to the pending issue in the case \u2013 what remedies are proper against Ripple for its Section 5 violations with respect to its Institutional Sales of XRP \u2013 and respectfully request until November 9, 2023, to propose such schedule to the Court, or, if the parties cannot agree, to seek a briefing schedule from the Court on a contested basis.\u201d<\/p>\n<\/blockquote>\n

The comments reveal an SEC willing to settle the case against Ripple.<\/p>\n

Ripple CEO Brad Garlinghouse had this to say<\/a>,<\/p>\n

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\u201cIn all seriousness, Chris and I (in a case involving no claims of fraud or misrepresentation) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build over a decade.\u201d<\/p>\n<\/blockquote>\n

Garlinghouse went on to say,<\/p>\n

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\u201cThe SEC repeatedly kept its eye off the ball while secretly meeting with the likes of SBF \u2013 failing again and again to protect US consumers & businesses. How many millions of taxpayer $ were wasted?! Feels good to finally be vindicated.\u201d<\/p>\n<\/blockquote>\n

Ripple Chief Legal Officer Stuart Alderoty reacted to the SEC move, saying<\/a>,<\/p>\n

\n

\u201cThe SEC made a serious mistake going after Brad & Chris personally \u2013 and now, they\u2019ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.\u201d<\/p>\n<\/blockquote>\n

The SEC filed charges against Ripple and Ripple executives Brad Garlinghouse and Chris Larson in 2020. Significantly, the SEC dropped the charges after presiding Judge Analisa Torres denied<\/a> a motion<\/a> for interlocutory appeal. The SEC contested the court ruling<\/a> on XRP not being a security in Programmatic Sales.<\/p>\n

XRP Price Action<\/h2>\n
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XRPUSD 201023 Weekly Chart<\/figcaption>

Daily Chart<\/h2>\n

XRP hovered above the 50-day and 200-day EMAs<\/a>, sending bullish price signals. Significantly, the 50-day EMA converged on the 200-day EMA. A bullish cross would support an extended XRP rally and signal a near-term bearish trend reversal.<\/p>\n

An XRP return to $0.5300 would support a move to the $0.5470 resistance level and trend line. Market reaction to the SEC decision and hopes of a settlement in the SEC v Ripple case may support a positive session.<\/p>\n

However, a break below the EMAs would bring the $0.5042 support level into play.<\/p>\n

The 59.27 14-day RSI reading indicates a move to the $0.5470 resistance level before entering overbought territory.<\/p>\n

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XRPUSD 201023 Daily Chart<\/figcaption>

4-Hourly Chart<\/h2>\n

In the 4-hourly Chart, XRP hovers above the 50-day and 200-day EMAs, reaffirming bullish price signals.<\/p>\n

An XRP return to $0.53 would give the bulls a run at the $0.5470 resistance level.<\/p>\n

However, a drop below the $0.52 handle would support a move to the $0.5042 support level and 200-day EMA. Buying pressure will likely intensify at $0.5040. The 200-day EMA is confluent with the $0.5042 resistance level.<\/p>\n

The 4-hourly RSI, with a reading of 77.54, shows XRP deep in overbought territory.<\/p>\n

<\/div>\n<\/div>\n
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XRPUSD 201023 4-Hourly Chart<\/figcaption><\/p>\n<\/div>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] The Thursday Overview On Thursday, XRP\u00a0rallied 6.62%. Reversing a 0.65% decline from Wednesday, XRP ended the day at $0.5204. SEC Drops Lawsuits Against Ripple Co-Founder Chris Larson and CEO Brad Garlinghouse On Thursday, news broke of the SEC dropping the charges against Ripple co-founder Chris Larson and CEO Brad Garlinghouse. Defense attorney James Filan shared the court filing, which addressed the pending case against Ripple, stating, \u201cThe SEC and Ripple intend to meet and confer on a potential briefing schedule with respect to the pending issue in the case \u2013 what remedies are proper against Ripple for its Section 5 violations with respect to its Institutional Sales of XRP \u2013 and respectfully request until November 9, 2023, to propose such schedule to the Court, or, if the parties cannot agree, to seek a briefing schedule from the Court on a contested basis.\u201d The comments reveal an SEC willing to settle the case against Ripple. Ripple CEO Brad Garlinghouse had this to say, \u201cIn all seriousness, Chris and I (in a case involving no claims of fraud or misrepresentation) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build over a decade.\u201d Garlinghouse went on to say, \u201cThe SEC repeatedly kept its eye off the ball while secretly meeting with the likes of SBF \u2013 failing again and again to protect US consumers & businesses. How many millions of taxpayer $ were wasted?! Feels good to finally be vindicated.\u201d Ripple Chief Legal Officer Stuart Alderoty reacted to the SEC move, saying, \u201cThe SEC made a serious mistake going after Brad & Chris personally \u2013 and now, they\u2019ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.\u201d The SEC filed charges against Ripple and Ripple executives Brad Garlinghouse and Chris Larson in 2020. Significantly, the SEC dropped the charges after presiding Judge Analisa Torres denied a motion for interlocutory appeal. The SEC contested the court ruling on XRP not being a security in Programmatic Sales. XRP Price Action XRPUSD 201023 Weekly ChartDaily Chart XRP hovered above the 50-day and 200-day EMAs, sending bullish price signals. Significantly, the 50-day EMA converged on the 200-day EMA. A bullish cross would support an extended XRP rally and signal a near-term bearish trend reversal. An XRP return to $0.5300 would support a move to the $0.5470 resistance level and trend line. Market reaction to the SEC decision and hopes of a settlement in the SEC v Ripple case may support a positive session. However, a break below the EMAs would bring the $0.5042 support level into play. The 59.27 14-day RSI reading indicates a move to the $0.5470 resistance level before entering overbought territory. XRPUSD 201023 Daily Chart4-Hourly Chart In the 4-hourly Chart, XRP hovers above the 50-day and 200-day EMAs, reaffirming bullish price signals. An XRP return to $0.53 would give the bulls a run at the $0.5470 resistance level. However, a drop below the $0.52 handle would support a move to the $0.5042 support level and 200-day EMA. Buying pressure will likely intensify at $0.5040. The 200-day EMA is confluent with the $0.5042 resistance level. The 4-hourly RSI, with a reading of 77.54, shows XRP deep in overbought territory. XRPUSD 201023 4-Hourly Chart [ad_2] Source link<\/p>\n","protected":false},"author":1,"featured_media":25974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-28686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/28686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=28686"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/28686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/25974"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=28686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=28686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=28686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}