Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation
  • Ripple (XRP)

Ripple Has Managed To Hurt SEC Where It Matters Most

Alicia Maher September 8, 2021 3 min read

XRP requested that the SEC provide its preclearance trading documentation for Bitcoin and Ethereum, but the SEC has blatantly refused that request. Ripple’s legal team made this request to uncover SEC’s regulations regarding digital currencies.


trade now

SEC Dismisses Ripple’s Claims As Irrelevant

However, one of SEC’s trial attorneys, Pascale Guerrier, argued that Ripple’s request has no relevance to the case at hand. He further said that such a request represents an illegal probe into the finances of its employees, which are supposed to be private.

If SEC had produced the requested information, Ripple would have argued that SEC and its employees’ behavior indicate that XRP isn’t a security. It wouldn’t have known whether XRP could be classified as one. Ripple legal reps also argued that it had held different discussions with the regulatory body to iron out the problem, but the meetings didn’t yield any result.

The SEC refused to provide any information regarding its employees’ XRP investments. Three months ago, Ripple obtained the court’s permission to force the SEC to produce the requested information as mentioned above. However, the SEC only produced the documentation stating that SEC staff could trade digital assets before January 2018.

Ripple argued that its motion aligns with the case because the SEC hasn’t classified virtual currencies as securities. Hence, it couldn’t argue against Ripple selling its token as securities. Also, Ripple claims that it has good grounds for this motion since this court case goes back eight years. Last Wednesday, Brad Garlinghouse accused SEC of handling the case shoddily, saying, “SEC has shown from the beginning of this case that it is deploying double standards for various digital assets.”

XRP Stabilizes At $1.07

Almost 24 hours after shedding about 23% off its price, XRP is recovering slowly per various metrics. XRP was already on a price correction before yesterday’s flash crash caused a further decline. Before yesterday’s market crash, XRP was trading at $1.24.

XRP’s 24-hour candlestick chart indicates a similar chart to the other leading digital assets. Even though the volatility is lower than in the last few days, it has been better since yesterday. The upper and lower Bollinger bands can be found at $1.367 and $1.036, respectively, with each of these points representing strong resistance and support.

XRP 24-hour chart. Source: TradingView

XRP’s 9-day moving average and Bollinger bands show bearish trends like the other top digital assets are showing. However, its RSI of 44.93 is a sign that buyers can take advantage of this bear trend. The XRP’s bear trend is also noticeable on the 4-hour chart. It is clearer on this chart than even the 24-hour chart. 

XRP price continues to bounce between $1.06 and $1.07 as of this writing as it struggles to maintain its support range following yesterday’s flash crash. If it doesn’t go lower than this support range, it will be on a rally in the next few days. However, it fails to maintain this support range; it might soon start trading below $1.

Trade Now

Continue Reading

Previous: Russia has no Reason to Recognize Bitcoin as Legal Tender – Putin’s Aide
Next: Crypto Exchange KuCoin Reports The Total Number Of Its New Users Topped 2M In Q2 2021

Related Stories

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
2 min read
  • Altcoins
  • Avalanche (AVAX)
  • Bitcoin (BTC)
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Polkadot (DOT)
  • Price Analysis
  • Solana (SOL)

26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%

May 26, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,851.00
-1.43%
ethereum
Ethereum (ETH)
$1,771.89
-4.38%
tether
Tether (USDT)
$1.00
0.20%
usd-coin
USD Coin (USDC)
$1.00
-0.14%
binancecoin
BNB (BNB)
$302.24
-3.29%
ripple
XRP (XRP)
$0.388813
-1.28%
Binance USD
Binance USD (BUSD)
$0.99
-0.86%
cardano
Cardano (ADA)
$0.466342
-4.79%
polkadot
Polkadot (DOT)
$9.57
1.93%
dogecoin
Dogecoin (DOGE)
$0.078102
-2.14%

Recent Posts

  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • 26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
2 min read
  • Altcoins
  • Avalanche (AVAX)
  • Bitcoin (BTC)
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Polkadot (DOT)
  • Price Analysis
  • Solana (SOL)

26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%