- Ripple’s CLO asked Kamala Harris to act against the SEC’s war with the crypto sector.
- XRP price recorded modest hikes in the past day after its notable surge on Thursday.
The crypto market saw several key actions in the Ripple vs. SEC lawsuit this week. Ripple’s chief legal officer, Stuart Alderoty, recently asked Kamala Harris to end the SEC’s war against cryptocurrency. Meanwhile, the XRP token exhibits a price increase of 0.80% after showing notable surges on August 8.
Notably, Alderoty delved into details of the ongoing lawsuit in a recent interview with CNBC. Additionally, the CLO stated in his X account that the current ‘admin’, must validate her crypto ‘reset’ by acting in the present. He noted that the SEC’s misguided war with crypto must be ended.
Recently, on August 8, Ripple was asked to pay a $125 million fine by the US Securities and Exchange Commission (SEC) after which it expects the issuance of the final judgment. This announcement caused a positive price rally in the XRP token instigating a 22% daily increase on Thursday.
Ripple’s CEO, Brad Garlinghouse stated in his X account:
“This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.”
Furthermore, the SEC initially appealed for $2 billion in penalty fines which has been reduced by 94% approximately as the CEO stated. The Ripple vs. SEC lawsuit persisting since 2020 and the community expects it to draw to a close this year.
How Did the Ripple vs. SEC Lawsuit Affect XRP Price?
In the past 24 hours, XRP showed modest price hikes, while its daily trading volume plunged by 44.73%. As aforementioned, the token price shot up during the August 8 announcement. Zooming out, over the past month, with Ripple’s battle drawing to a close, the token has shown a notable surge of 33.33% increase. At the time of writing, XRP was trading at $0.5894, according to CMC data.
Meanwhile, the firm also made several advancements in the global expansion sector. Recently, Ripple announced a partnership with Dubai’s DIFC Innovation Hub. Additionally, in the last 24 hours, the firm began private beta testing its stablecoin, RLUSD on the XRP ledger and Ethereum mainnet.
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