The post XRP SEC News Today: Bill Morgan Exposes SEC’s Missteps in Ripple Lawsuit appeared first on Coinpedia Fintech News
Bill Morgan, a pro-crypto attorney, has strongly criticised the new opening brief submitted in the XRP lawsuit by the United States Securities and Exchange Commission. He has even questioned the regulator’s understanding of how the crypto market works. However, in the last 24 hours, XRP has outperformed almost all the top cryptos, marking an impressive growth of nearly 9.4%. Let’s dive in for more details.
SEC’s New Opening Brief and Bill Morgan’s Criticism
As per the SEC’s opening brief, Ripple violated securities law through its XRP sales. The SEC, through the brief, alleged that Ripple’s representations to investors created an expectation of profits.
Exposing the regulator’s lack of understanding of how the cryptocurrency market functions, Bill Morgan, in an X post, retorted that price rises are often driven by market trends, not issuer promotions.
XRP Whale Movements Amid Legal Developments
Reports say that at least 130 million XRP tokens have been moved by whales during recent legal developments.
Whale activities may influence market sentiment. In the last one hour, the market has dropped by 0.2%.
Today, the market has experienced a drop of 1.5%.
XRP’s Long-Term Potential and ETF Speculation
Despite volatility and legal uncertainties, market sentiments for XRP remain bullish. According to a JP Morgan analyst, there is a high chance for the launch of an XRP ETF soon.
In conclusion, Ripple’s XRP remains a focal point in the crypto market, driven by legal developments and whale activity. As the case progresses, XRP’s future remains bright with long-term growth potential and increasing interest in an XRP ETF.
