Twenty-one lawyers are gearing up to fight the U.S. Securities and Exchange Commission’s lawsuit against Ripple and two of its executives.

Her Majesty's Treasury document contradicts the SEC's charges against Ripple.

XRP holders are still struggling around the $0.30 area while the majority of the cryptocurrency markets are euphoric with Bitcoin (BTC) price surpassing $40,000.

Court documents show that the company, Tetragon Financial Group, has filed a lawsuit against Ripple after the firm was charged by the U.S. Securities and Exchange Commission. The court filing indicates that Tetragon and Ripple allegedly made an agreement, and the SEC case deeming XRP as an unregistered security should allow them to get funds back. Moreover, weeks after the SEC charges, former Ripple executive Jed McCaleb sold 28.6 million XRP.

XRP lost value on a day when the rest of the market kickstarted a sizable recovery, as the SEC enforcer behind Ripple Labs’ $1.3 billion lawsuit announced his departure.

Ripple’s XRP token is in a perilous position this week as it continues to trade back below the $0.30 level of resistance.

“Ripple’s all-star engineering team continues to grow,” Ripple CEO Brad Garlinghouse said of the firm’s new senior VP.

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Ripple (XRP) bounced to highs of $0.33 on Monday but looks likely to struggle above the $0.30 range once again. This bearish short term outlook follows yesterday’s big-time tumble that saw XRP price drop to lows of $0.22.

Ripple price (XRP) is languishing, a few weeks after the Security and Exchange Commission (SEC) launched an unprecedented case against Ripple. XRP is trading at $0.2865, which is 63% below last year’s high of $0.7800. That has brought its market cap to more than $13.25 billion, making it the fifth-biggest cryptocurrency in the world after Bitcoin, Ethereum, Tether, and Polkadot.

An analyst who accurately predicted XRP’s recent bounce from a low of about $0.22 says he expects the third-largest cryptocurrency to continue moving to the upside.

U.S. President Donald Trump has pardoned Ken Kurson, a former Ripple board member and the co-founder of Modern Consensus, a crypto media outlet.

The cryptocurrency market is posing a recovery at press-time after the slump over the last two days that saw Bitcoin (BTC) retreat from an all-time high of $41,962.36 to near-$30,000 levels.

The popular cryptocurrency analyst, Credible Crypto, accurately predicted the recovery of the digital token XRP when the majority of the crypto community members were calling for “below $0.1 area” for the cryptocurrency, following the sudden regulatory lawsuit filed by the U.S. SEC against Ripple, the major distributor of XRP token.

John E. Deaton, a lawyer focused on the blockchain and cryptocurrency sector (and other societal/legal issues), notes that the US Securities and Exchange Commission (SEC) was warned that investors could potentially lose billions, considering “the magnitude of an SEC enforcement action” against Ripple’s XRP, which is one of the largest digital assets in terms of market cap (at over $12.6 billion at the time of writing).

Brad Garlinghouse, the CEO of Ripple, has taken to Twitter to address some issues concerning the lawsuit brought by the United States Securities and Exchange Commission (SEC).

Grayscale Investments is shutting down its Grayscale XRP Trust and liquidating its XRP holdings in order to distribute cash proceeds to the trust’s shareholders. The firm cited difficulty in converting XRP into U.S. dollars following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple.

In the past two days, ripple’s XRP price saw a sharp increase above the $0.2500 resistance level. The bulls gained strength, resulting in a sharp upward move above the $0.3000 barrier.

YouTuber Chico Crypto’s new research on SEC’s potential Chairman candidate shows that his position against XRP and Ripple Labs might pose a problem for the firm

Digital currency and gateway provider, GateHub, in collaboration with crypto safety standard firm, Coincover, has announced Wallet Protect.