The price of XRP has surged more than 4% in the past three days, according to data from CoinMarketCap. For the last seven days, XRP has been trading as high as $0.503 before falling to the current level of $0.493.

Here’s AMBCrypto’s Price Prediction For XRP For 2022-23

Crypto traders’ interest in XRP turned bullish after the parent company recorded a string of victories against the US regulator.

But what led to this, you ask?

Guessing game on point

According to a report, Judge Analisa Torres reportedly approved I-Remit and Tapjet’s requests to file amicus briefs to defend Ripple Labs in the ongoing SEC vs. XRP lawsuit.

Needless to say, SEC had objected to this outcome because the approved parties leaned towards Ripple.

Has that opposition worked? Well, in this, I-Remit went further in the Ripple v. SEC case with a comprehensive appeal. A famous lawyer, James Filan, highlights this development in an Oct. 13 tweet.

In the filing, the Philippine payments company added more support for Ripple technology such as RippleNet and ODL. The platform even claimed that XRP was not a security, as the US regulator claimed in this lawsuit. The submission further stated,

“As a major ODL customer, I-Remit is interested in the outcome of this lawsuit due to its reliance on XRP and the XRL Ledger. I-Remit has a deep understanding of these technologies that will assist the court in evaluating the arguments advanced by the US SEC.”

Where’s the line

Prior to this, the Chamber of Digital Commerce, the world’s leading blockchain trading organization, presented its support for Ripple as amici curiae status. If it’s not the price, at least keepers optimistic about this perpetual lawsuit.

But if you ask when will the lawsuit end? The answer would be difficult to conclude.





This post Ripple v. SEC: I-Remit Continues Expanded ‘Amicus’ Appeal

was published first on https://ambcrypto.com/ripple-v-sec-i-remit-goes-further-with-expanded-amicus-appeal/

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