XRP price target at $0.50 as investors focus on US and Federal Reserve statistics

US economic indicators give XRP another boost

There have been no material updates from the ongoing SEC v Ripple issue to provide XRP guidance.

Tuesday, SEC Reverse I-Remit and TapJet suggestions for submitting friend feeds. According to defense attorney James Phelan,

“The Securities and Exchange Commission (SEC) opposes I-Remit and TapJet’s requests to file a friend’s warrant, arguing that the proposed warrants are improper attempts to present evidence outside the constraints of discovery limitations, rules of evidence and prior court decisions.

Last Friday, private jet charter company TapJets filed a friendly note in support of Ripple. According to the notification,

“The interest of TapJet, in this case, is as a company that accepts cryptocurrency, including XRP, in exchange for its services as an alternative to fiat currency. For TapJets, accepting XRP as payment for services is critical in some cases.”

I-Remit has also submitted a request for a friendly briefing in support of the defendants’ Ripple’s motion for a summary judgment.

James Phelan shared the report, Such asAnd the

“I-Remit, Inc., a global payments company using RippleNet software, has submitted a request for a friendly briefing in support of the defendants’ proposal for an expedited judgment.”

I-Remit is mentioned in the application,

“As a principal client of ODL, I-Remit is interested in the outcome of this lawsuit due to its heavy reliance on XRP and the XRL Ledger. I-Remit has in-depth knowledge of these technologies that will facilitate court evaluation of the arguments presented by the US Securities and Exchange Commission (“SEC”).

Although both parties may favor the defendant’s position in the case, the market’s focus remained on US economic indicators. US economic indicators and reassuring Fed speech gave riskier assets another bullish session.

Job vacancies at JOLT fell from 11.170 million to 10.53 million in August. Economists expect a decline to 10.775 million. FOMC member Mary Daley also offered some relief, saying the Fed has the ways and means to control inflation in the thinnest way possible.

While US economic indicators continue to weigh, the SEC v Ripple issue will remain the main driver. Investors await a response from the Securities and Exchange Commission on the court’s invalidation of the SEC’s objection to the court’s rejection of the SEC’s request to protect William Hinman’s speech documents under attorney-client privilege.

In a famous speech in 2018, Corporate Finance Department William Henman said that Bitcoin (BTC) and Ethereum (ETH) are not securities.

There has been no comment since Thursday’s ruling, indicating that an appeal is on the cards.

XRP Price Target at $0.50 as Investors Focus on US Statistics and Fed – Coinphony [SV]

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