what will happen if ripple wins lawsuit

XRPs bullish thesis would be invalidated if the asset nosedives to the 23.6% Fibonacci Retracement level at $0.34. The cookie is used to store the user consent for the cookies in the category "Performance". RSI currently reads 36.12. 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. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 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. Ripple CEO: US Is Falling Behind Over SECs XRP Suit. 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. Note: All information on this page is subject to change. A positive or negative conclusion to the SEC lawsuit will drastically and irreversibly change the blockchain space in the US. Ripple meanwhile contends . Whats crazy ironic, is that, with Gensler at the helm, the lawsuit could ultimately give Ripple and XRP an advantage moving forward, he concluded. 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. If Judge Torres denies the SECs motion to strike the Fair Notice Defense and Judge Netburn overrules the SECs claim that the #BTC #ETH & #XRP documents are privileged, GaryGensler and the SEC could be facing a very significant precedent setting loss with huge implications, he continued. Not everyone may be particularly happy with waiting another few months for significant XRP gains. The cookie is used to store the user consent for the cookies in the category "Analytics". The agency first launched into a lawsuit in December against Ripple Labs' CEO Brad. Jeremy Hogan, a proponent and lawyer in the Ripple community says the SEC vs. Ripple case is drawing to a close. It was a bad start to Christmas. Click to email a link to a friend (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), FlexTrades FlexONE captures Best Buy-Side OMS award, Saxo Bank reports higher FX volume for February 2023, Bitso launches Mastercard-backed crypto card in Mexico, HSBC and Nationwide block transactions with crypto exchanges. In partnership with Mastercard, Latin Americas most popular exchange, Bitso launched a debit card in Mexico offering cryptocurrency rewards on customers purchases. The winning argument Ripple makes will be added to case law for future cases. 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. What will happen to the dozens of banks? Ripple has disputed the SEC's findings, arguing XRP should be treated as a virtual currency rather than an investment contract like a stock. Originally launched in 2012, Ripple aimed to be a fast and affordable way to transfer various fiat currencies across borders. 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. This article will discuss the potential implications, Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. Two words might well decide the regulatory future of cryptocurrency. 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. Ripple and other parties have since countered with claims that the SEC is biased in its assessment. And that Ripple, its two top executives named in the suit, along with millions of retail holders, should have known this all along, even though the agency never did. Analytical cookies are used to understand how visitors interact with the website. What happens if Ripple wins the lawsuit? If the above scenario happens, ironically, only #Bitcoin and #XRP would be safe. This cookie is set by GDPR Cookie Consent plugin. Ripple disputes the charges made against them because XRP is, in fact, a currency and cannot be subject to laws under the securities act. "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. In the ongoing is-it-or-is-it-not-a-security debate, XRP finds itself at the center of a much larger discussion. The Ripple lawsuit also consists of compliance with ISO 20022 for supporting international banking. This implies that buyers collect their funds to profit from a shared enterprise. Broker-neutral technology firm FlexTrade Systems FlexONE solution has once again emerged top among the best buy-side execution management systems. Needless to say, this is the best-case scenario, and it assumes another bull market on the scale of last year's, which certainly isn't a given right now. #XRPHolders get to finally see which technology wins. 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. Potentially, this thing could last all the way to the end . Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. XRP gets listed on exchanges that delisted it. This article is for information purposes only and should not be considered trading or investment advice. Its because he wants the option of going after them. Therefore, I wouldnt get too excited about the lawsuit one way or the other. 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. 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. The author makes no representations as to the accuracy, completeness, or suitability of this information. Of course, the precise extent of a surge will depend on the state of the global economy, which continues to depress investor sentiment with its combination of high inflation, rising rates, and low (or declining) growth. one that finds XRP is not a security), then XRP could rally massively, surpassing its current all-time high of $3.40 and hitting new heights. This case continues to produce encouraging signs of a favorable end for Ripple. 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. At this point, you might be asking yourself: what in the world does this have to do with XRP? The U.S regulator seems ill-prepared to win the case, thus giving Ripple the upper hand. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. Blockchain-powered Gaming Company, Affyn Adds New Virtual Lands To The NEXUS World Metaverse, Bitcoin Soars Over $25K and MEXC (MX) Hits Intra-Year High. On December 22, 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives. Even top exchanges like Coinbase were not immune to the pressure of the Ripple case. 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 . Other interesting coins are also around (from ApeCoin to Tamadoge), meaning that gain-hungry traders can still keep themselves busy while they wait for the Ripple-SEC case to end. The outcome of the SEC case will have consequences not only for XRP but for BTC, ETH, and the entire crypto community. 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. Nothing herein shall be construed as financial, legal, or tax advice. 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. He stated, If XRP is found to be a security, the SEC would say that exchanges should have known. If that happens, exchanges that operate within the US will face changes as side effects from the ongoing conflict with the SEC. Theres a way for the Ripple case to end and all parties win. But Bez expertly baited the first baseman, running instead back to home plate. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. The Currency Analytics. Some of Ripple XRP's rivals include: Stellar Lumens (XLM) Bitcoin (BTC) Litecoin (LTC) Dash (DASH) Ethereum (ETH) Arguably, Ripple's real rivals are not other cryptocurrencies but established payment providers. By clicking Accept All, you consent to the use of ALL the cookies. It has scored a number of procedural victories. Yes, it looks extremely likely that Ripple will either win the lawsuit at summary judgement, or settle favourably before then. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . Iwas referencing the Veritaseum case. 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. Of course, the real interest lies in predicting by how much it will surpass its former ATH, although reaching $3.40 alone will equal a 660% gain. Still, a positive outcome for Ripple will almost certainly lift the XRP price to some degree, so it will probably end up paying to acquire some XRP now and hold tight. Entwistle confirmed that Ripple is already in talks with over 20 central banks worldwide. However, it takes around three to five business days, and it has a high transaction fee. With XRP being the token of contention, the case outcome will likely impact the asset's price. 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. It will almost certainly have a . 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. Following that, he asked whether Ripple had the authorization to operate in the United States until the final decision .

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