The judge in the Ripple and SEC case accepted Ripple's request to send subpoenas to social platforms to verify the identities of senior US SEC officials in some videos. It is thought that Ripple's ability to verify the videos of SEC officials could strengthen its defense. Ripple will now present two subpoenas to seven SEC officials.
XRP supporters, on the other hand, expect a positive result from the subpoenas Ripple has requested for SEC officials. The fact that the authorities will confirm their own statements is also seen as an important gain against the SEC's accusations.
Winning the SEC lawsuit, which is ultimately seen as the biggest hurdle for XRP, is a general view that will pave the way for Ripple and positively impact its growth. Market commentators are of the opinion that a decision that may not be a security for XRP will result in the growth of the company's cross-border payment platform and, accordingly, increased adoption of XRP.
XRP price has been having sideways price movement lately. The cryptocurrency, which moved in the 0.36 - 0.38 dollar band in the first half of August, has not yet given a positive reaction to this latest development. Continuing its gradual upward movement since June, XRP continues to encounter resistance at an average level of $ 0.39, while seeing significant support at $ 0.3 in this process.
According to the price action of 2022, above $0.39, $0.41 seems to be a second important resistance point. With a market cap of $18.3 billion today, XRP fell to the 7th largest cryptocurrency position, surpassed by Cardano (ADA) last week.
At the time of writing, XRP price was recorded as $0.371, according to CoinGecko data, while XRP's last 24-hour trading volume was $1,156,329,478. XRP price is down -2.9% in the last 24 hours.