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- Ripple’s General Counsel Stuart Alderoty states that the SEC lost 4 out of 5 of its current crypto cases thanks to the courage of a few.
- Defense lawyer James K. Filan and Crypto Law founder John E Deaton agree with Alderoty’s views.
- XRP has been trading in the green over the past few days with an 8.31% surge in the last seven days.
Earlier today, defense lawyer James K. Filan and Ripple’s General Counsel Stuart Alderoty both commented on what they call the “losing streak of the SEC.” Alderoty detailed in this Twitter post that the SEC lost 4 of its last 5 cases in the Supreme Court, and believes that is this due to the courage of a few who used their resources to fight back against the SEC’s bullying.
#XRPCommunity #XRP @s_alderoty on the SEC’s record of losing cases. https://t.co/pn1xQIZuoz— James K. Filan (@FilanLaw) February 20, 2023
Crypto Law founder and prominent crypto attorney John E Deaton responded to this post saying that he has no doubt Ripple will win and that the current Supreme Court will shut down the SEC’s gross overreach. “The West Virginia vs. EPA case is all you need to read to agree with me. Ripple’s summary judgment brief is already an extremely well written appellate brief,” claims Deaton.
XRP/USDT 1-hour chart (Source: Trading View)
Meanwhile, XRP’s performance has been largely positive over the past week, with a current price of $0.3998, registering an 8.31% surge in the last seven days. XRP’s price has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 0.50% and 1.67% respectively over the last 24 hours.
As seen in the above chart, the XRP price rides well above the 200 MA line and 50-day MA, indicating an uptrend. The 50-day MA was seen moving below the 200-day EMA up until a golden cross last week, after which it soared above the 200-day EMA.
When looking at the RSI, the indicator shows a reading of 54.59, which is neither in the overbought nor oversold territory, thereby indicating that it is currently in a sweet spot. The RSI line crossed over the RSI SMA line yesterday, rising above it, corresponding with the surge seen over the last day.
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