• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / XRP Gains Steam After 12 Amicus Briefs Filed In Support Of Ripple
XRP

XRP Gains Steam After 12 Amicus Briefs Filed In Support Of Ripple

November 5, 2022 by Saeed Ul Hassan

XRP, the sixteenth largest cryptocurrency by market cap, has experienced an upward trend in its price over the past 24 hours, with a significant increase of around 8% in the course of the last day before dropping down, according to the data from Coinmarketcap.

The token gained steam after Ripple CEO Brad Garlinghouse announced that 12 entities have field “amicus briefs” to support Ripple in their dispute against the US Securities and Exchange Commission (SEC).

For those of you keeping count, 12 (!) amici briefs submitted.  It’s unprecedented (I’m told) to have this happen at this stage. They each explain – in their own unique way – the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way. https://t.co/Na9fWq3GvO

— Brad Garlinghouse (@bgarlinghouse) November 3, 2022

XRP is currently priced at $0.4963, which is almost a change of 10.82% from yesterday’s price, and if it manages to surpass the critical $0.50 resistance level and maintain its strong momentum. 

XRPUSDT 2022 11 05 04 26 21
Source: Tradingview.com

In addition, in the last 90 days, the price fluctuated between a minimum average price of $0.3159 and the highest average of $0.5523. So there is a chance of going through the following level of resistance as well.

The increase in the XRP’s 24-hour trading volume, which is up by roughly 31%, according to Nomics figures, indicates that the rise has been motivated by rising market sentiments.

As of the time of writing, the worldwide crypto market cap climbed by 3.6% in the previous day, while the entire crypto market volume over that period was $110.15 billion, representing a 28.43% gain.

Nonetheless, the most recent price prediction for the cryptocurrency is that it will be $0.52 at the end of 2022, with a year-over-year change of 38%. Moreover, the Ripple XRP’s price will increase to $0.66 in the first half of 2023.

Ripple (XRP) Vs. SEC Legal Battle

The legal battle has been going on since 2020, in which the SEC alleges that Ripple raised “over $1.3 billion through an unregistered, ongoing digital asset securities offering.” 

In its legal fight, Ripple Labs is gaining more and more supporters, including more than 75,000 individuals and 12 organizations right now.

By “amicus briefs,” the court can get important info or insight from parties that aren’t directly connected to the dispute.

However, Garlinghouse further claimed that each of the entities demonstrates, in their own particular manner, the catastrophic damage the SEC will cause to every aspect of the US crypto industry.

The SEC does not seem ready to give up. According to the November 3rd tweet by lawyer James K. Filan, the SEC has filed a motion asking the court to require that any other amicus briefs be submitted by November 11, 2022, and the time for submitting all “parties” reply briefs be extended until November 30, 2022.

#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a Motion to Extend the Time to file all parties’ Reply Briefs until November 30, 2022 and asks the Court to Order that any additional Amicus Briefs be filed by November 11, 2022. Ripple consents. New dates in motion. pic.twitter.com/vBUJV0fVk9

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) November 3, 2022

Nevertheless, Stuart Alderoty, the general counsel for Ripple Lab, criticized the SEC on Twitter and said:

The SEC’s response? We need more time not to listen or engage but to blindly bulldoze on.

A dozen independent voices – companies, developers, exchanges, public interest and trade assoc.’s, retail holders – all filing in SEC v Ripple to explain how dangerously wrong the SEC is. The SEC’s response? We need more time, not to listen or engage, but to blindly bulldoze on. https://t.co/PRgvwI9m2X

— Stuart Alderoty (@s_alderoty) November 3, 2022

Related Reading | Polygon (MATIC) Shoots to New Heights, Gains Over 20% in 24 Hours

Filed Under: Altcoin News Tagged With: Price Analysis, Ripple (XRP), SEC

Primary Sidebar

Recent Posts

  • XRP Surges 3% Within an Upward Regression Channel as Whale Wallets Break Records July 15, 2025
  • Uniswap (UNI) Breaks $9 Barrier, Rallies Toward $10.20 Target July 15, 2025
  • Bitcoin Breaks Above $121,000 Eyes $140,000 to $158,000 in Next Rally July 15, 2025
  • Jupiter (JUP) Price Prediction: Breakout Target Set at $0.55 July 15, 2025
  • From 10,000 Bitcoin Pizzas to a Possible $200,000 Target: All Bitcoin Momentum Since 2009 July 15, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.