Cryptocurrencies encountered increased volatility on Wednesday, with Bitcoin leading the rout with a drop to $50,500. XRP price, not spared by the forces in the market, rolled back to trade at $0.5375 on Thursday.
The cross-border money remittance token posted a 2.2% decline in seven days, underscoring the changing technical landscape in February.
Ripple v. SEC Lawsuit Past Discovery Stage
The Securities and Exchange Commission (SEC) is facing criticism and a new lawsuit filed by the Crypto Freedom Alliance of Texas (CFAT). In an interview with Bloomberg TV earlier this week, Ripple’s CEO Brad Garlinghouse criticized the agency for consistently losing lawsuits.
Although the court ruled in July last year that secondary sales of XRP did not constitute securities, Ripple is still battling in court ahead of the determination of the case on institutional token sales.
With the case past the discovery stage following the deadline on February 20, both Ripple and the SEC are preparing rem
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