XRP replay tour soon? Maybe, but only if…

waves The problems began when the Securities and Exchange Commission (SEC) began investigating how the company advertised and sold its products XRP icons. since then SEC He argued that the token is security and thus violates SEC requirements. Although the SEC has maintained this position for a long time, Ripple Labs continues to argue that the SEC’s claim is unfounded.

Some “ripple effects” also began to emerge with the emergence of Ripple’s legal cases with the Securities and Exchange Commission. While some stock exchanges chose to close provide XRP for US users, other exchanges decided to cross off Cryptocurrency. But could XRP move towards reclaiming these listings soon?

Here AMBCryptos Ripple (XRP) Price Forecast for 2023-2024

Weigh the currency base, list on the horizon?

It was one of the latest developments in the case Securities and Exchange Commission consent Ripple has moved to hear Amicus’ briefing on the matter. There’s been a steady stream of underwear since then, but one in particular has stood out. One of the largest cryptocurrency exchanges in the United States, Currency baseAnd the archived Brief for Ripple Labs.

It sided with Ripple, stating that the SEC’s lawsuit is about suing the defendant, rather than enforcing regulations. As one of the exchanges that has deleted XRP and is yet to be re-listed, this action has sparked speculation that a re-listing may be imminent.

XRP is based on a Canadian exchange

Another North American cryptocurrency exchange came forward and announced the re-listing of XRP while rumors of Coinbase’s re-listing were still circulating. It was recently revealed that XRP will be certified on Canadian crypto exchange Newton. Founder, Dustin WalberThe announcement was made earlier this week via a tweet. The backlash died down immediately, with many people expressing their desire for Coinbase and other exchanges to follow suit.

This development could spark a discussion about relisting XRP, although no other major exchange or its management has shown any signs of interest in doing so. The fact that Ripple seems certain to come to a favorable settlement, no matter which way the outcome ultimately falls, may also play a role.

Allies swell, but the SEC is reacting

There has been a steady stream of people supporting Ripple Labs’ case against the Securities and Exchange Commission in court. There were more than 75,000 people and 12 organizations who submitted their ‘Amicus curiae’ brief in support of Ripple. However, the SEC has not yet given up; they have Requested to extend it until November 30 to submit a response.

They also asked for a deadline for submitting cards, with a higher page limit.

What does price action say?

Looking at XRP on the daily time frame chart reveals that the price has risen more than 50% since the rally started.

Despite the rally, it has so far failed to overcome the resistance level between $0.48 and $0.52.

On the other hand, the support level was strong between $0.44 and $0.41. The RSI line was found to be below the neutral line, indicating a general downtrend. However, placing the RSI just below the neutral line indicates that the downtrend was not strong.

Source: XRP/USD, TradingView

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