Ripple Hits Whale Stream! Is $10 Coming?

Ripple and SEC war is leading to investment optimism and whale movement. Well, will XRP reach $10 soon?

Why is Ripple rising?

Amicus Briefing is a legal document filed by an institution or person for a case that is not a party to the case, but is willing to help by providing information. In recent developments from the SEC-Ripple lawsuit, the Digital Chamber of Commerce’s request to file an amicus briefing has been upheld by the court. An institution or person giving the Amicus briefing often deals with the case.

Earlier in the week, the Digital Chamber of Commerce began processes to file this brief on the case. According to Department Leader Perianne Boring, the state of the case is giving shape to the cryptocurrency framework.

Boring also said that solving this case will have a huge impact on the crypto division in the US. He reiterated that it has become necessary to establish well-defined and balanced policies for the rapidly rising industry. The Digital Chamber of Commerce stated in its brief that it does not have all the information to make it clear that the XRP token is unregistered security, as claimed by the SEC.

However, it wants a clear and balanced legal framework for cryptocurrencies. This is not the first time the Digital Chamber of Commerce will present an amicus briefing. Two years ago, he did exactly the same in the Telegram case. As widely reported in various media, Ripple and the SEC submitted a summary resolution motion last week to expedite the analysis of the 21-month-old case.

Both parties agree that the Judge now has sufficient fact to rule. Therefore, the case will no longer need to be prosecuted. After the briefings were delivered earlier in the week, the SEC suggested it might need more time. However, Ripple objected to the proposal, saying it was an attempt to delay it.

XRP’s price performs strongly

In this middle, data from Santiment indicates that XRP was in the midst of the top earners last week. Meanwhile, bears dominated the cryptocurrency market. XRP is up 5 percent in the past week. It profited over 17% compared to BTC and ETH, which lost 16%. Investor optimism has risen and there has been high whale movement around XRP following recent events in the ongoing legal battle with the SEC amid Ripple Labs.

XRP investors are optimistic that an agreement between the SEC and Ripple will positively affect the altcoin price. Also, Whales’ altcoin accumulation is often considered bullish. This is the second main factor causing the rise in the price of XRP. If these two factors come true as hypothesized, it will come as no surprise that the price of XRP will soon reach $10. The data shows that XRP traded at $0.475 and has fallen by 3.32% in the last 24 hours.

Koindeks.comAs you follow, Former US congressional candidate David Gokhshtein said that if Ripple wins the case, the altcoin market will rise parabolic.

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