China News by Thebittimes.Com

XRP price wallows in the red as bulls attempt to keep the token above $0.45. The money remittance token was rejected at $0.47 following an earlier attempt to break out. XRP price will likely consolidate at $0.45 before trying another move up. Ripple Vs. SEC: Assessing an XRP Price Rally To $50 XRP price has lost much of its month-long upward momentum, making it brush shoulders with $0.55 twice before falling back down again. The small wins Ripple Labs has been bagging in court has improved sentiment among the XRP Army.  Even though the price corrected to $0.42, investors and experts are looking forward to XRP reclaiming its all-time high at $3.40 and blasting to $50 in the long term if there is a positive outcome from the lawsuit.  A win against the SEC (Securities and Exchange Commission) is crucial for this to happen. The SEC filed a lawsuit against Ripple Labs, the company that issues the XRP token, and its top executives in December 2020. The regulator...

Defense Lawyer James K Filan, who has been a vital source in the SEC vs. Ripple lawsuit, has shared documents regarding I-Remit’s amicus brief in support of Ripple. The application was opposed by the SEC (Securities and Exchange Commission) in a motion letter to Federal Judge Analisa Torres. Nonetheless, the trial judge allowed I-Remit to submit its application. As per the document, Philippines-based I-Remit serves as a bridge between foreign money senders and recipients of that money in the Philippines. Moreover, it is the only remittance company that is publicly listed on the Philippines Stock Exchange. I-Remit stated that one of the mechanisms it employs for money transfers is Ripple’s RippleNet. One way the firm allows money transfers are through Ripple’s ODL (On Demand Liquidity) software, which uses the XRP cryptocurrency, running on the XRP ledger. #XRPCommunity #SECGov v. #Ripple #XRP I-Remit, Inc. has formally filed its Amicus Brief in Support of t...