Settle the case and flip the switch Brad. 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. XRPs bullish thesis would be invalidated if the asset nosedives to the 23.6% Fibonacci Retracement level at $0.34. It cannot be denied that the SEC case against Ripple has been detrimental to the growth and adoption of the blockchain. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. What Ripple is doing Ripple does a lot of things. 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. All the lingering doubts around whether crypto is a security or currency only discourage the general public and institutional investors from entering the space. It's just that it can be argued at trial. The lawsuit, filed on 22 December 2020, alleges that Ripple raised over $1.3 billion through illegitimate means. It does not store any personal data. Ripple's chief executive has shared his views on possible outcomes of the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of xrp, which the regulator claims to . The claim is that they traded $1.3 billion in their cryptocurrency XRP as a security without registering it with the SEC. The author will not be held responsible for information that is found at the end of links posted on this page. Yes, it looks extremely likely that Ripple will either win the lawsuit at summary judgement, or settle favourably before then. If Ripple Wins Vs. SEC, XRP Price Could More Than Double "If Ripple wins the case, the XRP price will most likely boost significantly and increase the price of other altcoins, at least in the short term," Chok told Stockhead. What If Ripple Loses Against The SEC? This Is How XRP Price - Coinpedia 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". Note: All information on this page is subject to change.
This comes after Ripple co-founder Chris Larsen said that the company would keep its . Bearish scenario: Ripple loses the case, and the token gets banned worldwide - In this case, Ripple will need to find a different business model, and the price of XRP can crash to the lows of . With an expectation of profits: The investor expects profits, meaning that they buy the security in the hope of earning a return on their investment. In 1946, the Supreme Court established a method for deciding whether or not an asset is defined as a security. Ripple CEO: US Is Falling Behind Over SECs XRP Suit, Voyager Users Vote for Binance US Takeover: Regulators Claim Deal Leaves Execs Off the Hook. On the date of publication, Josh Enomotoheld a LONG position inXRP, ETH and BTC. There is no clear bullish/ bearish divergence in RSI. FXStreet and the author do not provide personalized recommendations. Pay the SEC fine your costing investors were missing the bull run. These cookies will be stored in your browser only with your consent. If you want to collaborate with DailyCoin and become our contibutor, please contact us at contact@dailycoin.com. XRP. The platform has its own currency (XRP) but allows everybody to use the platform.