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XRP Holding Above $0.30 as Ripple CEO Vows to Keep Fighting

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Fri, 01/08/2021 - 07:52
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Alex Dovbnya
XRP is trading above $0.30 after reaching its highest level in two weeks
XRP Holding Above $0.30 as Ripple CEO Vows to Keep Fighting
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XRP continues to trade above the $0.30 level on the Bitfinex exchange after slumping from its multi-week high of $0.37. 

This comes after Brad Garlinghouse, the chief executive officer of Ripple Labs, announced that the company's official response to the crushing SEC charges was coming soon while addressing some accusations made by the securities watchdog.     

XRP
Image by tradingview.com

Ripple has high hopes for the new SEC leadership  

In an upbeat statement that was published on Twitter on Dec. 8, Garlinghouse claimed that his company wouldn’t give up fighting after already attempting to settle the SEC lawsuit. Ripple sets its hopes on the new administration that it expects to be more lenient:     

Can’t get into specifics, but know we tried - and will continue to try w/ the new administration - to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved.

Related
XRP Recovers 15 Percent as Ripple Says It’s Ready to Work with SEC's New Leadership

Many questions remain unanswered  

While addressing a slew of exchange delistings, Garlinghouse stated that Ripple couldn’t influence them due to the XRP’s presumably decentralized nature.

However, he openly dodged the accusations of paying kickbacks to exchanges as noted by Messari’s Ryan Selkis: 

You don’t actually answer whether the company paid listing fees for any specific exchange. Did you?

Garlinghouse’s statement also failed to address one of the most damning revelations in the SEC lawsuit about the scope of the executives’ sales:

Meanwhile, Larsen—Ripple's initial chief executive officer (“CEO”) and current chairman of the Board—and Garlinghouse—Ripple's current CEO—orchestrated these unlawful sales and personally profited by approximately $600 million from their unregistered sales of XRP.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.