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The SEC can use the money to create a fund that helps reimburse harmed #XRPHolders.. Information on these pages contains forward-looking statements that involve risks and uncertainties. . According to a Bitcoinist report, CBDCs are a key focus for the payment giant in 2023 and Brooks Entwistle, Managing Director of APAC reaffirmed this stating that Ripple is a solution provider to which central banks and authorities can turn. Gensler gets the credit helping his political chances. You can always unsubscribe with just 1 click. Yes, it looks extremely likely that Ripple will either win the lawsuit at summary judgement, or settle favourably before then. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/even-if-ripple-wins-its-sec-lawsuit-the-crypto-ballgame-isnt-over/. 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. [deleted] 2 yr. ago By using this, you . The big issue for the SEC is that, according to them, Ripple Labs and its executives conducted unregistered security offerings by selling XRP tokens to investors. If the above scenario happens, ironically, only #Bitcoin and #XRP would be safe. It has been in the news recently due to its legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple meanwhile contends . The current method of transferring money across countries uses something called swift. Could you be next big winner? of the Ripple case and then he may go after, 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), Ripple and the SEC were recently allowed to re-brief the court, a win on fair notice could save the industry from the SEC, 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. XRP tokens are distributed to companies and financial institutions such as Santander, the Commonwealth Bank of Australia, or MoneyGram to create fast transactions through the Ripple network and avoid high conversion fees. Ripple has said they would move HQ and continue business outside of US. The Currency Analytics. 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. Copyright 2017-2021. Outcome of SEC v. 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. The SEC believes that the XRP token is a security because, in their view, it fits the definitions and requirements of a security provided by the Howey Test. This article is for information purposes only and should not be considered trading or investment advice. Broker-neutral technology firm FlexTrade Systems FlexONE solution has once again emerged top among the best buy-side execution management systems. Ripple and other parties have since countered with claims that the SEC is biased in its assessment. Theres a reason Gensler wont comment on whether he believes #Ether is a security. The lawsuit concerning Ripples activities from 2013 to the present is slightly peculiar as it was filed in the final moments of the previous administration and is considered to be a means to stomp on the potential growth of XRP. 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. If the U.S. government wants your money, they'll get it eventually. Analytical cookies are used to understand how visitors interact with the website. The winning argument Ripple makes will be added to case law for future cases. Ripple Labs would likely need to face the music and pay significant fines. 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. The price will rise significantly to around $10-15. Necessary cookies are absolutely essential for the website to function properly. Polkadot (DOT) price dropped in tandem with Bitcoin and Ethereum amidst the rising uncertainty surrounding Silvergate bank. The sixth-ranked cryptocurrency by the market currently controls a market cap of $18.6 billion. FXStreet and the author do not provide personalized recommendations. XRP Price Prediction - What Will Happen to Price if Ripple Wins SEC Lawsuit? 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. At this point central banks, institutions, and businesses will begin to use XRP to make transactions. 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. SEC vs Ripple: Will One Lawsuit Decide the Fate of the Crypto Industry? But opting out of some of these cookies may affect your browsing experience. Further, the panellists said USD 3.61 is a likely price by 2025, while USD 2.98 could be within reach by 2030. Specifically, a panel of 36 fintech experts has analyzed XRP and expressed their expectations that the token could be worth $2.55 by December 2022, provided that Ripple wins or settles its lawsuit with the United States Securities and Exchange Commission ( SEC ), as per a Finder report from May 4. How are things shaping up for XRP holders in the Supreme Court, and what can we expect to happen after the dust has settled? What If Ripple Wins The Lawsuit? What Is the Best EV Stock to Buy Now? 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 . Ripple CEO: US Is Falling Behind Over SECs XRP Suit. The SEC considers that XRP is not a currency but a security and is subject to securities laws. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. In other words, crypto investors can stay in decentralized la-la land all they want. Thus, the first baseman only has to catch the ball from third and step on the base. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. In other words, this should be a positive sign for XRP. This website uses cookies to improve your experience while you navigate through the website. A critic of Wall Street establishments, Warren wrote a letter to SEC chair Gary Gensler, requesting a framework for potential legislation to regulate cryptocurrencies. The Ripple Lawsuit has been a long and drawn out saga. 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 . 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. The SEC vs. Ripple lawsuit has dragged on since 2020, with many twists and turns, some in favor of the payment giant. The Ripple lawsuit also consists of compliance with ISO 20022 for supporting international banking. This comes after Ripple co-founder Chris Larsen said that the company would keep its . 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. Your email address will not be published. . Let there be a new price action. 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 _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. The XRP token was delisted from the popular exchange in January 2023. Clarifying the same, Hynes added, "Winning on this motion does not mean the defense will win on trial. Ripple insists that the entire court case is due to the SECs mischaracterization of the XRP token and that the ICO was not an unregistered securities offering. Ripple has reframed how the XRP token required to conduct cross-border financial transactions fits within the blockchain ecosystem. Should XRP be considered a currency or a security? Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. Those implications could cause the SEC to avoid a trial or Summary Judgment. Even top exchanges like Coinbase were not immune to the pressure of the Ripple case. If Ripple wins the case, exchange listing skepticism will be disregarded, and more XRP liquidity transfers will start in the US market. It will almost certainly have a . 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. Long before Ethereum was even a twinkle in Vitaliks eyes, Ripple was already one of the largest digital assets in the crypto market. Ripple wins. Can #ETH investors honestly say theyre not worried? 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. The allegations have stifled XRPs price, which struggled to match its competitors during previous market cycles due to the fear, uncertainty, and doubt the case caused. With Ri The post XRP Lawsuit: A Huge Win Secured appeared first on The Motley Fool Canada. However, the filing at the Southern District Court in New York is viewed with skepticism in the crypto space. Get the latest crypto news delivered to your inbox daily. Stuart Alderoty, the Chief Legal Officer of Ripple said that a summary judgment is expected any day now. Why stop at one when it successful addresses many. John Deaton, attorney for the approximately 65,000 XRP Holders accepted as Amicus Curiae in the SEC v. Ripple lawsuit, has shared his thoughts on what may come next for XRP. In December 2020, Ripples potential market growth was put to a halt after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and its executives Bradley Garlinghouse and Christian A. Larsen for failing to register the networks native token as a security. "The lawsuit has gone exceedingly well, and much better . You should do your own thorough research before making any investment decisions. Broker-neutral technology firm FlexTrade Systems FlexONE solution has once again emerged top among the best buy-side execution management systems. This legal action caused the XRP price to plummet from around 0.70 U.S. dollars to 0.20 U.S. dollars. The lawsuit could have a positive or negative effect on the price, depending on the outcome. What arguably should affect your decision on XRP is its technical posture. First only by a few nations, and eventually by all the nations. XRP is still in high demand as exchanges outside of the US aim to list the token, although there is skepticism about where XRP will end up. We focus on delivering fast and objective news about cryptocurrencies and crypto markets with a swirl of passion. Ripple Labs is a technology company that was designed to harness efficient payments and create blockchain solutions for financial institutions. In this scenario, both the SEC and Ripple win, but only Bitcoin and XRP would be safe as John Deaton points to fears that ETH could be next in line for an SEC lawsuit. Three Japanese banks are set to develop a payment system that integrates their stablecoins on a public blockchain while satisfying legal requirements. Because many nations look to the United States as a leader in this field, how it regulates crypto may be followed elsewhere. If youve been in crypto for longer than a week, youre probably aware that Initial Coin Offerings (ICOs) like these are commonplace in the industry.

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