The article discusses the ongoing clash between Ripple and the U.S. Securities and Exchange Commission (SEC) regarding the status of XRP. The SEC filed charges against Ripple Labs in December 2020, and now investors await the court ruling on the SEC’s motion for an interlocutory appeal. If the SEC wins, it would bring more uncertainty about whether XRP is considered a security. The article mentions Norman Reed, who was the General Counsel of Ripple and signed a settlement in 2015 classifying XRP as a “convertible virtual currency.” The author suggests that the SEC’s actions may come under scrutiny, and lawmakers could even open an investigation into the SEC’s actions in the crypto space. The article concludes by discussing the technical analysis of XRP’s price and potential future movement.
AI Sentiment: Neutral
