XRP Pulls Back as Ripple Opposes SEC in Recent Court Filing

• XRP met resistance around $0.55 amid expectations of another round of litigation.
• The XRP pullback coincided with Ripple’s filing to oppose the SEC’s remedies proposal.
• Fred Rispoli thinks Ripple is in a great position to win the ongoing lawsuit against the SEC.

XRP met resistance around $0.55 amid expectations of another round of litigation between Ripple and the U.S. Securities and Exchange Commission (SEC). The top altcoin failed to overcome the $0.55 barrier on Tuesday despite showing significant momentum the day before.

Tuesday’s pullback coincided with Ripple’s filing to oppose the SEC’s remedies proposal for the firm to pay $2 billion in fines regarding the protracted legal battle between them. Ripple argued that the SEC had no basis for such a request, citing the commission’s lack of allegations or findings of recklessness or fraud against it.

Following the development, several crypto users suspect Ripple’s opposition filing could trigger another round of litigation between the pair. One such user, a crypto industry attorney, Fred Rispoli, noted that Ripple is in “a great position” to win the lawsuit. However, he observed that there a…

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