Supporters of the Ripple lawsuit are already hyped to win the case against the SEC lawsuit with the long delay in showing evidence from the SEC side. Its up in the air [to be honest], Deaton admitted as he offered an educated guess on how things might go down in the event that XRP is deemed a security. XRP is important because the result of the SEC vs Ripple case is expected to have ongoing effects on how cryptocurrency is regulated in the United States. Based on an average of price predictions given by the panellists, XRP could hit USD 2.55 by December this year if Ripple wins the case. Judge Sarah Netburn is performing an in camera review of the documents the SEC claims to be privileged information in order to decide whether they can be handed over to Ripple as part of the fact discovery. On Wednesday, an XRP enthusiast on Twitter with the username @scaruso123 inquired as to what would happen in the interim if Ripple wins the lawsuit and the SEC appeals to the appellate court. The SEC considers that XRP is not a currency but a security and is subject to securities laws. The cookie is used to store the user consent for the cookies in the category "Other. The cross-border remittance firm has expansion plans once Ripple puts the lawsuit behind it. Sources close to the matter revealed Ripples interest in aiding the roll-out of CBDCs for central banks worldwide. This was highly bullish for XRP, and it was one of the main reasons why it began outperforming the market as a whole about a month or so ago. The final judgment also appointed Holland & Knight, LLP, as Distribution Agent for the Fair Fund to, among other things, oversee the administration and distribution of the Fair Fund to harmed investors and Miller Kaplan Arase LLP as Tax Administrator to fulfill the tax obligations of the Fair Fund.
Top Analyst Says XRP Will Pop After Lawsuit, but More Downside Still in Article printed from InvestorPlace Media, https://investorplace.com/2021/07/even-if-ripple-wins-its-sec-lawsuit-the-crypto-ballgame-isnt-over/. In addition, the SEC is also in the hot seat with Senator Elizabeth Warren. It cannot be denied that the SEC case against Ripple has been detrimental to the growth and adoption of the blockchain. We focus on delivering fast and objective news about cryptocurrencies and crypto markets with a swirl of passion. Looking further back in time, Ripple has earned itself a number of positive judgments so far in the case, all of which suggest it will secure a good summary judgment. This article is for information purposes only and should not be considered trading or investment advice.
What IF Ripple wins the lawsuit? How will this effect other projects Clarifying the same, Hynes added, "Winning on this motion does not mean the defense will win on trial. But Bez expertly baited the first baseman, running instead back to home plate. Upgrade your inbox and get our DailyCoin editors picks 1x a week delivered straight to your inbox. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Cronos Price Prediction: CRO holders need to exercise caution as bears take the wheel, Polkadot price could crash 20% amidst Silvergate FUD and crypto market uncertainty, Cardano price to rebound from fresh monthly low as 2023 rally unwinds further. Deaton started out by reminding that Ripple owns over 50 billion XRP; a $5 XRP equals Ripple being worth $250 billion dollars significantly more valuable than MorganStanley or Goldman Sachs. When the lawsuit against Ripple was filed by the SEC in late December 2020, the XRP price plummeted a staggering -72% in one week, from $0.60 to $0.17. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. XRP: Going from Long to Short. In its early days, Ripple was touted as an attractive option for banks and financial institutions looking to move funds internationally without being bogged down by complicated remittance issues. This website uses cookies to improve your experience while you navigate through the website. In the ongoing is-it-or-is-it-not-a-security debate, XRP finds itself at the center of a much larger discussion. You also have the option to opt-out of these cookies. But, in December 2020, the crypto turned into the most scandalous one when SEC filed a lawsuit against Ripple Labs, allegedly claiming that the XRP token was a security . Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. These cookies track visitors across websites and collect information to provide customized ads. The SEC vs Ripple case is widely publicized, with regulators and policymakers worldwide waiting for a conclusive result. This apparent contradiction likely means that today's dive is a blip in a larger, longer-term pattern of upwards movement. However, it should be noted that even if Ripple manages to win the fair notice motion, it doesn't guarantee a win during the trial. The app allowsusers to research more than 1000 stocks and ETFs, curate a portfolio based on risk rankings assigned to each security, and buy fractional shares for as little as $1. By using this, you . The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The outcome of the Veritaseum case could provide guidance to XRP holders looking for answers about what will happen to their assets. "So what happens to XRP holders if XRP is declared a security and has to be registered with SEC?", a Twitter user recently asked John Deaton, the attorney representing over 67,000 XRP holders with amicus curiae status in the case. If Ripple wins the case, exchange listing skepticism will be disregarded, and more XRP liquidity transfers will start in the US market. The XRP token was delisted from the popular exchange in January 2023. If #XRP were to hit $5, Ripple could sell 10% of the monthly unlocked escrow and pay a settlement / fine totaling as high as $500 million providing Gensler with a big public victory & bragging rights. Why NFTs now? Attorney John Deaton's filing of a motion to intervene two weeks ago was a spanner in the works for many who expected the ongoing lawsuit between the United States SEC and Ripple Labs to be a straight and direct back-and-forth.
Fintech specialists expect XRP to soar to $2.55 by December 2022 - Finbold If Ripple wins the lawsuit, it will not have to pay out an additional 1.3 billion dollars, allowing it to continue working on projects. If you thought that understanding the blockchain was a wonky affair, you should try following the granularity of the Securities and Exchange Commissions lawsuit against Ripple Labs, the founder of the XRP (CCC:XRP-USD) cryptocurrency. Theres a way for the Ripple case to end and all parties win.
SEC v. Ripple: Implications of Ripple's Fair Notice Defense Our 3 Top Picks. In that case, it will likely set a precedent for how other cryptocurrencies like Ethereum are regulated. However, the same would be a rather unrealistic scenario as XRP's price growth would depend on macroeconomic . 5 Hypergrowth Stocks With 10X Potential in 2023, requesting a framework for potential legislation to regulate cryptocurrencies, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The move is another blow for the crypto traders who recently saw a sizable number of banks deciding not to finance the wobbly asset class..
XRP Price shoots upwards as Ripple Wins case against SEC Ripple is thus a payment network between institutions that helps decrease conversion and payment fees by relying on the xRapid network. Suppose the Supreme Court decides XRP is a security and the SEC wins the case. Cronos (CRO) price sold off this Friday around the time Europe began trading. What will happen to the dozens of banks? The Hong Kong firm's boss also believes a Ripple win will see the re-listing of XRP on US crypto exchanges, adding: "There's potential for a new dynamic in the market . Its current price means that it has also declined by 8% in the past week, yet the altcoin remains 26% up in the last 30 days, as investors increasingly come to expect a positive end to Ripple's legal battle with the SEC. Japanese banks to trial stablecoin payment system, Binance adds support for African currencies: Liberia, Sierra Leone, Gambia, Mauritania, Cape Verde, InvestCloud launches front-to-back single solution for advisors and wealth managers, Step launches stock investing for teens and young adults. The legal battle between Ripple and the SEC began in late 2020, when the regulator filed a lawsuit against the company.
Even If Ripple Wins Its SEC Lawsuit, the Crypto Ballgame Isn't Over Is The Ripple Lawsuit Good Or Bad For XRP Investors? If Ripple wins the lawsuit, then two things will happen that are terrible for the SEC: They will look weak losing a large, high profile lawsuit. Adding salt to the wound, Ripple claims that the SEC is inconsistent in regulating cryptocurrency and suffocates an innovative and progressive industry. Disclaimer: The information provided in this article is solely the author/advertisers' opinion and not an investment advice - it is provided for educational purposes only. The ledger uses an efficient consensus mechanism, which paves the way for fast, low-cost transactions. Although XRP suffered a loss of nearly 60% in price after the lawsuit began, it has recovered despite being subject to scrutiny in the US market and exchanges becoming wary of accepting XRP trades. Necessary cookies are absolutely essential for the website to function properly. Theres a reason Gensler wont comment on whether he believes #Ether is a security. If Ripple wins this legal battle, it could have major implications for the cryptocurrency market. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. #XRPHolders get to finally see which technology wins. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. SEC vs Ripple: Will One Lawsuit Decide the Fate of the Crypto Industry?
SEC Victory in Ripple Case Would Render XRP 'Untradeable - CoinDesk Information on these pages contains forward-looking statements that involve risks and uncertainties. According to Jesse Powell, the CEO of Kraken Exchange which recently delisted XRP for its US residents, XRP can be a liability for exchanges depending on the outcome of the trial. Moreover. We also use third-party cookies that help us analyze and understand how you use this website. CryptoNewsZ predicts that XRP could rise to as high as $0.68 in 2025. It does not store any personal data. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? This cookie is set by GDPR Cookie Consent plugin. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.