what will happen if ripple wins lawsuit

Last month, the SEC and Ripple both submitted motions for summary judgment, meaning both are basically asking the presiding court to come to a decision and end the case rather than go to a full trial. 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. 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). It has been in the news recently due to its legal battle with the U.S. Securities and Exchange Commission (SEC). With the market as a whole down by 4% today, the XRP price has seen above-average losses, largely because it had enjoyed above-average gains prior to the current selloff (brought on mostly by pessimistic expectations surrounding an inflation report due today in the US). The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Despite their earlier reservations about the altcoin, blockchain advocates feel they must consider the greater good. Copyright 2023 InvestorPlace Media, LLC. In other words, this should be a positive sign for XRP. 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. What separates this security lawsuit from similar other ones like that of Block.One and Telegram in the crypto space is the fact that SEC has formally named the founder Chris Larsen and [] Most likely, the status quo would remain in effect during an appeal. More to the point, what is a security anyway? In that case, it will likely set a precedent for how other cryptocurrencies like Ethereum are regulated. Thus, the first baseman only has to catch the ball from third and step on the base. Ripple and the SEC were recently allowed to re-brief the court with new arguments on the issue amid last minute changes in the law concerning DPP. The lawsuit has continued for three years, with both parties submitting final filings and waiting for a decision. XRP: Going from Long to Short. Long before Ethereum was even a twinkle in Vitalik's eyes, Ripple was already one of the largest digital assets in the crypto market. After that SEC will go after Ether. 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. Therefore, all eyes are on the defendant company as it pushes for the timely deposition of former SEC director William Hinman. It is very difficult to win a motion to strike; more than likely, Ripple will have the opportunity to present evidence and argue the fair notice defense throughout most or all of the case. Why NFTs now? The SEC does not like losing lawsuits. RSI currently reads 36.12. XRPs bullish thesis would be invalidated if the asset nosedives to the 23.6% Fibonacci Retracement level at $0.34. This article will discuss the potential implications, Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. 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. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The XRP price has fallen by 7% in the past 24 hours, dropping to $0.452427 amid a generalized fall in the wider cryptocurrency market. Crypto would not be subject to federal securities laws in the U.S. Policymakers worldwide might follow this decision, providing more flexible terms for crypto regulations across the globe. Even a legal victory might not change this narrative. This could however mean one of the biggest settlements in history. Polkadot (DOT) price dropped in tandem with Bitcoin and Ethereum amidst the rising uncertainty surrounding Silvergate bank. Are Payment Cards To Face The Same Fate As Cash In The Virtual Age? They would recover in value, exchanges would relist, and clarity would brought to the cryptocurrency industry (either way this happens!).. The XRP token was delisted from the popular exchange in January 2023. Theres a way for the Ripple case to end and all parties win. It will almost certainly have a . If XRP is declared a security, Ripple Labs would be ordered to pay a fine for selling unregistered securities. Is Ripple setting the stage for a win against the SEC: What to expect from XRP price? Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? XRP prices have been surging recently after a series of legal victories on Ripple's end against the SEC. There is a low probability of the case getting extended and experts have. XRP holders who never sold win. 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. Community Musings: Ripple and XRP will only have an advantage moving forward. Between breaking down complex crypto content into simplified, digestible chunks, Finn also doubles as an advisor for new protocols entering the space. Due to the lawsuit laid against Ripple Labs and its founders by the U.S. Securities and Exchange Commission, XRP has been delisted on several crypto exchanges, such as Coinbase. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Cronos (CRO) price sold off this Friday around the time Europe began trading. 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. 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 Ripple platform is an open source protocol which is designed to allow low cost and fast transactions. Three Japanese banks are set to develop a payment system that integrates their stablecoins on a public blockchain while satisfying legal requirements. No consumer protection. In terms of arriving at a reasonable prediction for the XRP price in the event of a good result, it's likely that, at the least, the altcoin will pass its 2018 record high of $3.40. Unlike Bitcoin or Ethereum, where new coins are created through the mining process as a reward, the XRP amount is limited to 100 billion coins. According to a Reuters report, Warren stated that she needed answers from Gensler by July 28 on the SECs authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed.. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Ripple CEO: US Is Falling Behind Over SECs XRP Suit. There is no clear bullish/ bearish divergence in RSI. Ripple lawsuit, but no answer has been able to satisfy the inquiring minds. A quick 3min read about today's crypto news! The Ripple lawsuit is important because if the SEC wins their case, XRP will be treated as a security and not a currency in the United States. Officially speaking, the XRP lawsuit refers to a case made by the SEC against Ripple Labs and two of its executives, CEO Brad Garlinghouse and his co-founder Chris Larsen. This cookie is set by GDPR Cookie Consent plugin. Stuart Alderoty, the Chief Legal Officer of Ripple said that a summary judgment is expected any day now. Meanwhile, the blockchain company still claims fair use considering that it received a late notice from the SEC. If US regulators fail to make more accurate US blockchain regulations, Ripple is considering relocating, as its usability and centralized nature is beneficial for the financial system. The SEC considers that XRP is not a currency but a security and is subject to securities laws. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. It has since raised $4 million as ESG-focused investors flock to its native IMPT token, which is currently available at a price of $0.018. CoinSwitch believes the crypto asset will surge to $17.0576 by 2030 due to the wide adoption of the asset. The SEC filed a case against Veritaseum and its owner Reginald Middleton in August 2019 alleging they fraudulently raised millions of dollars in virtual currency from the unregistered sales of securities called VERI based on a series of false and misleading statements to potential and actual investors, including misrepresentations about the potential profitability and viability of Veritaseums purported operations, the use of funds raised in the VERI ICO, and the amount of funds raised in the VERI ICO. The winning argument Ripple makes will be added to case law for future cases. XRP is the native token of the Ripple network and is used to pay transaction fees. John Deaton talks about the potential size of Ripple amid a future XRP bull run, capable of overshadowing the likes of Morgan Stanley and Goldman Sachs, and the implications of a Ripple win. This website uses cookies to improve your experience while you navigate through the website. 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. Analytical cookies are used to understand how visitors interact with the website. Necessary cookies are absolutely essential for the website to function properly. Information on these pages contains forward-looking statements that involve risks and uncertainties. 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 . Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. One of the biggest was forcing the SEC to hand over Hinman's speech. By clicking Subscribe, you agree to our Privacy Policy. Play Now! The SEC vs. Ripple lawsuit has dragged on since 2020, with many twists and turns, some in favor of the payment giant. This legal action caused the XRP price to plummet from around 0.70 U.S. dollars to 0.20 U.S. dollars. At this point, you might be asking yourself: what in the world does this have to do with XRP? Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Follow us on Twitter @coinmonks and Our other project https://coincodecap.com, Email gaurav@coincodecap.com, We deliver the latest, breaking crypto news about Bitcoin and others. One of the dumber plays youll see in baseball happened earlier this year between the Chicago Cubs and the Pittsburgh Pirates. it seems certain that XRP will be declared a non security. It does not store any personal data. 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". Settle the case and flip the switch Brad. If it settled, it would likely have to pay out a. 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. Tax on profits may apply. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best cryptocurrency to buy\/invest in","children":[]}]. It does not store any personal data. If Ripple wins the case, exchange listing skepticism will be disregarded, and more XRP liquidity transfers will start in the US market.

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