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One of the causes of regulatory confusion in the United States is the manner in which various financial authorities, state governments, and even the United States Congress exercise their authority. This is especially true in the crypto-sector.
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The SEC's lawsuit against Ripple Labs has now been extended until 2022, putting the San Francisco-based blockchain company in hot water at home.
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The crypto-market as a whole has had a good year. Any asset in the top ten would agree with this statement, but XRP is not one of them. While it remains seventh in the rankings, its April 2021 high of $1.966 has yet to be tested.
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Ripple Labs has been embroiled in a lawsuit with the US Securities and Exchange Commission for nearly a year.
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The price of XRP has dropped 14% from its swing high of $1.18 on October 16, tagging the downside trend line of the prevailing chart pattern. While Ripple (XRP) was on the verge of falling below $1, a key technical indicator suggests that the swing low may have set the temporary local bottom.
One of the causes of regulatory confusion in the United States is the manner in which various financial authorities, state governments, and even the United States Congress exercise their authority. This is especially true in the crypto-sector.
