Unfortunately for blockchain proponents, the Ripple lawsuit may not be a one-and-done situation; that is, a win doesnt mean the SEC will forever ignore cryptocurrencies. Bitcoin: Whats next for BTC after $65 million worth liquidations. This question has been asked many times by the thousands of XRP holders who await a conclusion to the SEC v. Ripple lawsuit, but no answer has been able to satisfy the inquiring minds. Crypto tokens are sold and traded on secondary markets by thousands of people every day, so why does XRP have to bear the full force of the SECs jurisdiction? FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. What Will Happen If Ripple Wins The Court Case? Iwas referencing the Veritaseum case. Seemingly XRP's fate is tied to the case and if the case turns in favor of Ripple, XRP's price is expected to at least pass its 2018 ATH of $3.40. Lorem ipsum dolor sit amet, consectetur adipiscing elit. One other set of figures worth looking at is the 260% increase the market as a whole achieved between January 2018 (the height of the 2017-18 bull market) and November 2021 (the height of the 2020-21 bull market). All in all, Ripple's prospects look good, even if it may not gain a summary judgment for another few months yet. I know the SEC offered a buyback of the Veri token but I do not know the specifics. The author has not received compensation for writing this article, other than from FXStreet. 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. But what regulatory authorities can do is sit at first base and force the out. What happens if Ripple wins the lawsuit? Meanwhile, the blockchain company still claims fair use considering that it received a late notice from the SEC. At the time of writing, XRP has a market cap of over $20 billion and a single unit price of $0.44, less than 5% down from the previous week. This cookie is set by GDPR Cookie Consent plugin. XRP: Going from Long to Short. This case continues to produce encouraging signs of a favorable end for Ripple. John Deaton enlightens that, If the U.S SEC wins its claim over its allegations against Ripple. In partnership with Mastercard, Latin Americas most popular exchange, Bitso launched a debit card in Mexico offering cryptocurrency rewards on customers purchases. 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. By clicking Accept All, you consent to the use of ALL the cookies. Ripple Labs is a technology company that was designed to harness efficient payments and create blockchain solutions for financial institutions. It has scored a number of procedural victories. It would be one of the biggest settlements in SEC history. In this case, traders may want to consider looking at some of the promising new altcoins that have appeared on the market in recent weeks, with several new tokens currently undergoing their own presale. Security wise, I am unsure. The battle will likely drag on into next year after Ripple and the SEC agreed on a schedule for the next phase of the case: Filings and hearings on motions for summary judgment will extend to December. The dark cloud that has hung over the Ripple network since 2020 would finally blow over, and Ripple Labs would enjoy a renewed and reformed reputation in the crypto market. It requires two things: 1) favorable rulings for Ripple on fair notice & on the deliberative process privilege; and an Altcoin Bull Market Chart with an upwards trend causing #XRP to surpass its all time high (for example, hitting $5 dollars or higher). Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. In 1946, the Supreme Court established a method for deciding whether or not an asset is defined as a security. Community Musings: Ripple and XRP will only have an advantage moving forward. #XRPHolders get to finally see which technology wins. The reputation of Ripple labs would suffer a severe blow, and the network may struggle to attract new users. Therefore, all eyes are on the defendant company as it pushes for the timely deposition of former SEC director William Hinman. According to Fintech commentators like Bloomberg, the case will be wrapped within the first half of 2023. Thats the appeal of XRP and its ilk: the blockchain is an innovation you cant directly impinge. The SEC alleges that Ripple conducted an unregistered $1.3 billion securities offering and named CEO Brad Garlinghouse and co-founder Chris Larsen in its legal action. A critic of Wall Street establishments, Warren wrote a letter to SEC chair Gary Gensler, requesting a framework for potential legislation to regulate cryptocurrencies. Ekta Mourya Back in January, for instance, the court must decree that the SEC has to hand over emails relating to an important speech Bill Hinman gave in 2018, which concerned whether BTC and ETH are securities (and which may also concern XRP). Even top exchanges like Coinbase were not immune to the pressure of the Ripple case. The company is trying to defend itself from a class action lawsuit by early investors, who claim to have been offered XRP with promises of future gains. Just the day before yesterday, Ripple CEO Brad Garlinghouse was a guest on Bloomberg, talking about hopes for new talks with the U.S. Securities and Exchange Commission (SEC) once Gary Gensler takes over as chairman. Ripple CEO: US Is Falling Behind Over SECs XRP Suit. If Ripple wins SEC lawsuit, only Bitcoin and XRP will be safe - John Deaton December 7, 2021 8:35 am UTC, Rick Steves "What's crazy ironic, is that, with Gensler at the helm, the lawsuit could ultimately give Ripple and XRP an advantage moving forward". When the XRP token launched in 2012, no one expected this humble cryptocurrency to spark one of the most iconic legal battles in blockchain history - the SEC vs Ripple lawsuit. Inexplicably, the first baseman bought it and chaos erupted. It is not clear what will happen to the price of Ripple after the lawsuit. This could however mean one of the biggest settlements in history. Well, everything. Ripples Chief Legal Officer expects the payment giants win in the US financial regulators lawsuit against the cross-border settlement firm. The author will not be held responsible for information that is found at the end of links posted on this page. Although US equities were able to trigger a turnaround and close Thursday off with a net gain, someone in Asia clearly did not get the memo. The Ripple Vs SEC Lawsuit And Its Impact On XRP's Price Rise XRP was once the coin with the greatest potential and innovative use cases for financial institutions and banks. Originally launched in 2012, Ripple aimed to be a fast and affordable way to transfer various fiat currencies across borders. On the date of publication, Josh Enomotoheld a LONG position inXRP, ETH and BTC. The SEC also claims that the Ripple CEO and co-founder were less than honest about the sale. The lawsuit has continued for three years, with both parties submitting final filings and waiting for a decision. The reason is that even if XRP is deemed a crypto coin, regulation can still hit popular crypto exchanges such as Coinbase (NASDAQ:COIN). If the SEC wins the lawsuit, it wont be good news for XRP. Ripple has disputed the SEC's findings, arguing XRP should be treated as a virtual currency rather than an investment contract like a stock. RSI currently reads 36.12. If the U.S. government wants your money, they'll get it eventually. The sixth-ranked cryptocurrency by the market currently controls a market cap of $18.6 billion. Pay the SEC fine your costing investors were missing the bull run. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Unfortunately for blockchain proponents, the Ripple lawsuit may not be a one-and-done situation; that is, a win doesn't mean the SEC will forever ignore cryptocurrencies. 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. XRP gets listed on exchanges that delisted it. You see, Bez has no choice but to run to first and nothing that happens on the play matters so long as the out to first is recorded. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. In particular, the importance of a couple of rulings and a bull market to transform XRP into the only altcoin with regulatory clarity in the United States. Tax on profits may apply. Even a legal victory might not change this narrative. In addition, the SEC is also in the hot seat with Senator Elizabeth Warren. HSBC Holdings and Nationwide Building Society joined major UK banks in banning purchases of bitcoin and other cryptocurrencies via credit card following a recent regulatory crackdown. On the other hand, the Ripple camp argues that XRP is not a security but a currency and should not be held to securities laws. 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. "It's up in the air [to be . it seems certain that XRP will be declared a non security. It also does not guarantee that this information is of a timely nature. In a nutshell, Hinman may have an expert opinion thats favorable to Ripple since he provided clarification regarding Ethereum (CCC:ETH-USD). #XRP returns to battling #Ether for the number 2 spot. XRP price could stand to gain from the payment giants win in the SEC vs. Ripple lawsuit. Bitcoin (BTC) price edges closer to the lower limit of its bullish structure after Thursdays market sell-off. Why Ripple thinks it's going to win. Thus, the first baseman only has to catch the ball from third and step on the base. In my opinion, its ugly, with the coin struggling underneath both the 50 and 200 day moving averages. Given that XRP is still 86% down from its 2018 ATH of $3.40, and given that it failed to set a new ATH in the 2020-21 bull market (because of the legal case), there's a very strong chance that its price will rocket once its tussle with the SEC is resolved.
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