California Court Rules in Favor of Ripple against XRP Investor

California Court Rules in Favor of Ripple against XRP Investor

The case alleged that Ripple used dishonest and illegal tactics to control the price of XRP.

This May, news came out that Ryan Coffey, an XRP investor, filed a lawsuit against Ripple. Coffey is seeking compensation for all who invested in XRP. According to the suit, the plaintiff is claiming that Ripple defrauded its investors in numerous ways: by using media sensationalism to manipulate its token value, by being vague on the question of whether XRP is a security, and by claiming it is fully decentralized when it is not.

Just this week, the San Francisco County Superior Court has decided in favor of Ripple by denying Coffey’s motion to remand.

Based on the foregoing, plaintiff’s motion to remand is DENIED.

Phyllis J. Hamilton, United States District Judge


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Cardano (ADA), EOS, and XRP Price Prediction and Analysis – July 23

Cardano (ADA/USD) ADAUSD Chart By TradingView On an hourly chart, ADA/USD continued to display a further downward pressure. The bearish rally was supported by the 21 day MA that was seen trading above the 7 day MA.  The RSI indicator dipped from a high of 49 to a low of 27 that showed an increase in bearish pressure. Notably, the bears had the upper hand over the last 24hrs. The market saw a short-term price fall that later consolidated below the key support level $0.05823. Presence of a four-price Doji was seen severally that signaled lower transaction rate. This was followed by a further price fall that fluctuated the price down to a low of $0.05600.  At around 08:00, ADA hit the oversold level followed by a reversal. The pair’s price seemed to have gained momentum since the RSI indicator recorded an upward rally during the last 3hrs.  It has moved up from 27 to 37 that showed investors anticipating the coin to surge. Forecast At the moment, the RSI is heading north that signals incoming Bull Run. The coin is likely to consolidate before a breakout. New targets should be set at $0.05800. EOS/USD EOSUSD Chart By TradingView Unlike ADA, EOS/USD pair has slightly gained by 0.73%. EOS began trading at $4.04 and is currently trading at $4.16. Despite an overall bearish rally that was buttressed by the 21 day MA that traded above the 7 day MA. The RSI recorded otherwise since it was seen moving upwards from a low of 26 to a high of 54 that showed an increase in buyouts.  The downward momentum defined resistance level at $4.15 and support level at $3.97. The RSI indicator is currently heading south, showing reduce confidence in the coin by investors, thus increase sellouts. Forecast  At the moment, the 21 day MA is above the 7 day MA, and the RSI indicator is heading south. All the indicators point towards a bearish market rally in the next few hours. New targets should be on $3.90. Ripple (XRP/USD) XRPUSD Chart By TradingView XRP/USD, on the other hand, recorded a bearish outlook over the last 24hrs. The 21 day MA gravitated above the 7 day MA which supported the downtrend. XRP has an intraday dip of 2.1%, having begun trading from a high price of $0.3164 and has currently lowered down sharply to trade at $0.3096. The RSI indicator was also seen trading below level 50 throughout the 24hrs period. This showed an increase in selling pressure. The RSI indicator is currently heading south that indicates reduce coin confidence by investors. Nevertheless, the dip in the pair’s price has negatively affected investor’s sentiment. Forecast At the press time, all indicators signal further bearish rally, the 21 day MA is still above the 7 day MA and the RSI is heading south that indicates downward pressure. New targets should be set at $0.28. The post Cardano (ADA), EOS, and XRP Price Prediction and Analysis – July 23 appeared first on ZyCrypto.

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