- XRP price shows no signs of slowing down after failing to stay above the $0.381 support level.
- This development has left the remittance token to find a harbor at $0.359, $0.349 or $0.340.
- A daily candlestick close above the $0.381 level will invalidate the bearish thesis.
XRP price remains at the mercy of the outcome of the lawsuit between the SEC and Ripple. While Ripple is fighting to get its hands on the former director of US Securities & Exchange Commission (SEC) William Hinman’s 2018 speech, the SEC is trying to shield it by crying “attorney-client” privilege.
As the ruling hangs in balance, Ripple’s legal counsel Stuart Alderoty took shots at the SEC on Twitter.
The SEC argued in LBRY: "Even if a fraction of people" buy a token for "investment purposes, you’re in securities land." Does every jeweler now book a one way ticket to "securities land" because a "fraction" of their customers are “investing” in the oldest commodity – gold?! 1/3
— Stuart Alderoty (@s_alderoty) August 3, 2022