James K.Filan SEC Ripple XRP security Court James K.Filan

XRP price breaks out of range with a 25% rally, but why?

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Crypto markets are flashing a bit of green on Sept. 22 as Bitcoin (BTC) price tacked on a 4.7% gain to trade above $19,300 and Ether (ETH) surged 6.5% to recapture the $1,300 level.

RSR and Astar Network (ASTAR) also surged by 23% and 17% respectively, but the more notable mover of the day was XRP. Currently, XRP price reflects a near 25% gain and the asset is up 41% in the past month.

According to defense lawyer James K. Filan, on Sept. 18, Ripple Labs filed a motion for summary judgment — a legal process that involves the court making a final decision based on the provided facts, rather than ordering a trial — and a decision on whether XRP is a security is expected by mid-December. #XRPCommunity #SECGov v. #Ripple #XRP 1/2 The parties have filed a request that any motions by third-parties to seal portions of the parties’ summary judgment filings be filed subject to the Court’s September 12, 2022 order.

pic.twitter.com/J6rbeRXmHiExcitement over the news could be improving investor sentiment about the longer-term prospects for XRP. Related: Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’From the perspective of technical analysis, XRP price is looking to secure a second daily close above a longterm descending trendline resistance and trading volumes and open interest on futures contracts have risen sharply in the past 24-hours.

Read more on cointelegraph.com
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