Crypto Watch: $XRP Now Following $DOGE in Bearish Trend Over Last 30 Days as $BNB Follows

Urian B., Tech Times 21 September 2021, 02:09 am

$XRP is currently on a trend similar to $DOGE's bearish trend as $BNB follows. As of the moment, $XRP is down by a whopping 25% over the last 30 days while $DOGE leads in bearish drop at -34% in the last 30 days. $BNB is now following the bearish trend at -19.8%.

$HEX and $SOL

As of the moment, it is hard to tell the current status of the market cycle if the general crypto market is really going bullish and for how long. As seen in the last 30 days, however, the only positive growth was $HEX and $SOL (although $SOL seemed to have dropped as well over the last 7 days and 24 hours), as seen on WhaleBot Alerts.

$HEX, on the other hand, managed to get a whopping 138.5% increase over the last 30 days making it once again the cryptocurrency that seems to be going up while all others are going down. $HEX has still been able to gain a significant 22.7% increase in the last 7 days. South Korea has suspended over 60 crypto exchanges leaving only four that were able to follow the country's new requirements.

Ripple Labs $XRP

According to the story by BeInCrypto, $XRP's creator, Ripple Labs, is now being sued by the SEC and announced that they are not taking the suit sitting down and have even denied any plans of settling things out of court. This was according to a tweet from Charles Gasparino coming from the Fox Business Network. Ripple's official legal team has actually assured the news outlet that they have no plans to settle its lawsuit along with the SEC.

The lawsuit that is currently in question, Ripple vs SEC, has reportedly been quite an ongoing fight from both ever since 2020. At the crux of the particular issue is the SEC accusing the known Ripple Labs of issuing as well as selling certain unlicensed securities to the general public. As for $ADA, SundaeSwap has officially been added to the CardanoCube.

SEC Ripple

The suit does not just name Ripple but also Chris Larsen as well as Brad Garlinghouse as the defendants. The pair is reportedly considered to be the "top brass" at Ripple. According to a tweet coming from Garlinghouse back in January 2021, the team actually tried unsuccessfully to settle along with the SEC in the past.

When asked directly why the said Ripple has yet to settle, Garlinghouse actually noted that he cannot get into specifics but they have tried and will also continue to try along with the new administration. This is to be able to resolve the issue in a way so that the whole $XRP community will still be able to continue innovating and maintain that the customers are protected and orderly markets are still preserved. Garlinghouse also added that Ripple still has the whole backing of its shareholders.

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Written by Urian B.