He tweeted: "The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SECs bullying and clinging to stretch legal positions that were not faithful to the law.". In its motion, the SEC argued: The private charter jet company TapJets and the payment provider I-Remit were the first to submitamicus briefs in support of Ripple. According to the graph, a bearish breakdown of the $0.3750 support zone would pull it down until the next support area of $0.3702 or $0.3620. Additionally, its recent collaboration with the Japanese payment giant SBI has garnered the attention of various technical corporations across the South Pacific region. Speaking last week, CEO Brad Garlinghouse told CNBC that he expects the case to conclude by the end of this year at the very latest, if not by the end of the first half of 2023. Just Released! XRP is one of the first cryptos to have been asserted to be a security by the SEC. This also includes Judge Torres granting it access to important documents and emails related to a 2018 speech given by William Hinman, with these documents potentially including evidence related to whether the SEC may have previously regarded XRP as not a security. More than a year has passed since the SEC and Ripple case began, and many are now wondering if there will ever be a resolution. Prior to this, the parties had filed their initial motions for summary judgment, published . By 13 December 2022, the cryptocurrency was trading at $0.391, up 3.84% in the previous 24 hours. The outcome of the lawsuit will play a huge role in defining XRP's future price movement. 1125 N. Charles St, Baltimore, MD 21201. Assuming a positive result for Ripple, one in which it's enabled to continue its business, there's little doubt that XRP will rally strongly. Just like the broader crypto market, XRP went down rapidly since the beginning of the year. XRP's growth is largely tied to the SEC vs. Ripple lawsuit, and Chairperson Gary Gensler remains in hot water for his recent comments with New York Magazine. It's been a bearish week for XRP. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. On Feb 3, 2023, popular American businessman Craig Wright filed a lawsuit against 16 Bitcoin developers who are set to go under trial in London. Elena is an expert in technical analysis and risk management in cryptocurrency market. Ethereum Price Prediction Will ETH Break Free To Successfully Target $2k? It also rose after the Hinman ruling later that month. The same day both parties met to discuss any redactions in the court filing, and the summary judgments were made public on 5 December. In terms of actual price predictions, opinion ranges from more realistic forecasts of $1.30 (after the Ripple-SEC case ends) to longer-term targets of $10 or even higher. Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Indeed, with all existing briefs having now been filed, it seems that XRP holders (as well as Ripple and the SEC) are mostly waiting for the judge to reach a decision. Stacks Price Prediction - How Much Higher Can STX Go? Ripple is a cryptocurrency network that aims to bring fast, low-cost payments to financial institutions. Following a 2.06% decline on Friday, XRP ended the day at $0.7055. . It also requested that any additional amicus briefs be handed in by 11 November 2022. In addition to this, as reported byU.Today, a transfer of 30 million XRP was reported byWhaleAlert, while another 261 million XRP coins were moved by whales between wallets on various top exchanges in the previous day. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Ripple Price Prediction 2023, 2024, 2025: Will XRP Price Reach $1 By The End Of 2023? This is certainly feasible in the more distant future, but it relies on Ripple winning its case and on a return to more positive macroeconomic conditions. "The lawsuit has gone exceedingly well, and much better . This relates to the long-running legal battle between Ripple and the SEC, with Ripple CEO Brad Garlinghouse saying on Thursday that he expects it to end this year, potentially bringing very bullish news for XRP. However, no one knows what Judge Analisa Torres decision will be. At writing, XRP is trading at around $0.48, up 47% in the last seven days. Biggest Movers: XRP, ADA Rebound From 2-Month Low on Saturday, Bitcoin, Ethereum Technical Analysis: BTC Consolidates Recent Losses to Start the Weekend, Latam Countries Prepare Regional Agreement to Counter Rampant Inflation, Digital Assets Under Management 5.25% Higher in February Grayscale Still Most Dominant Player, Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin, Indias Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official, Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets, FTX Debtors Report $8.9B Shortfall in Customer Funds and Highly Commingled Assets in Latest Presentation, Avalanche Sees Surge in BTC Bridged to Its Network With Over $44 Million in Bitcoin Ported on Thursday, Bitcoins Price Drop Causes Over $200 Million in Long Liquidations Across Crypto Derivative Exchanges. Their argument was based on the so-called Howey Test, from a US court case, which determines whether an asset is a security. Shiba Inu Vs. Dogecoin, Which Meme Coin Will Hit The $1 Bullish Target First? Meanwhile, LBRY argued that its LBC token is not a security and that the SEC did not give fair notice. Answer (1 of 3): No, because Ripples real use isn't tied to XRP. Thewin by the SEC in its case against the publishing crypto project LBRY in November 2022 could have set precedent for the XRP hearing. Sign up below to get this incredible offer! It is powered by the XRP native cryptocurrency, which initially launched in 2013 to raise funds for the company. At the time of writing, all eyes are on Judge Torres as the world of cryptocurrency awaits the outcome of the Ripple court case. Professionals like former US congressional candidate Gokhstein believe that if Ripple scores a win, it will contribute to the massive rise of the entire cryptocurrency market. If the SEC wins in the legal dispute, XRP (the native cryptocurrency of the Ripple Blockchain) will no longer be regarded as a currency in the US but rather as a security. Oh man that's a huge gamble for people still buying xrp. The ledger will run likely for decades trading value (5/16), But he disagreed with Ripples approach to the case. . XRP rocketed upward at the end of 2017 during the crypto boom. Kristin Smith, the executive director of Blockchain Association, said in a statement: In response to these filings, the SEC filed a motion to extend the time to reply to these briefs with the new deadline proposed for 30 November 2022. This growing list of partnerships and expansion will significantly affect the price of XRP. 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 around $0.15. Orbeon Protocol (ORBN), Shiba Inu (SHIB) and Bitcoin (BTC) Cryptos Set To Dominate In March. Let us know in the comments section below. Past profits do not guarantee future profits. We don't know for sure, although a ruling is expected to be made at some point in 2023. I am sticking to my prediction that District Judge Torres will decide on both the Expert Motions and the Summary Judgment Motions at the same time on or before March 31, 2023, he stated. He said: We think this is just a gross overreach of the SEC, trying to wrest control of that uncertainty that has existed [on regulation]., Alderoty also commented on the need for regulation. he court upholding its right to present a fair notice defense, Judge Torres granting it access to important documents and emails, Binance, PoS Giant Ingenico Seal In-store Crypto Pay Deal, Terra Luna Classic Price Prediction as LUNC Turns Green Here's Where LUNC is Headed Now. According to the panel, the value of XRP will reach $3.61 by the end of 2025 and $4.98 by 2030. Thats because XRP and its parent company Ripple have been embroiled in a lawsuit from the Securities and Exchange Commission (SEC), dating back to late 2020. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Likewise, XRP's relative strength index (purple) has sunk to just below 40 - once it reaches 30 or lower, it will have entered oversold territory, implying the profitability of buying it at a discount. The lawsuit crashed the price of XRP while making the cryptocurrency holders the biggest victims in the story, meaning that the SEC has actually hurt the people that they were supposed to protect, the investors. The lawsuit results will have a profound impact on the entire crypto space, as it will set the tone for all the regulations to come into the U.S. and the rest of the world. While Ripple has not denied the sale of XRP, the cryptocurrency company has argued that it does not meet the Howey Test criteria. Currently, there is greater pressure on riskier assets as the US economic data has raised new concerns for the Federal Reserve. Ripple CEO Brad Garlinghouse discussed the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over XRP earlier this month in an interview with Axios at the Collision 2022 event. Additionally, on or about the end of March next year, Judge Torres will rule on both the petitions for summary judgement and the experts at the same time. That it missed out on a new ATH in 2021 is significant, because it suggests that it could reach a new record once the Ripple-SEC is concluded. He also tweeted that Ripple's attorney will strongly recommend a settlement if the SEC accepts in writing that all current and future XRP transactions are not securities. Ripple executives had filed motions to dismiss the SEC's lawsuit against them. On the back of twin legal victories last week as part of pre-trial discovery, Ripple CEO Brad Garlinghouse and chairman Chris Larsen are asking a judge to dismiss the U.S. Securities and Exchange . The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The lawsuit rocked Ripple. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. This was followed by by the judge denying an SEC application to redact the names of the consulting firms that assisted its expert witnesses on 19 December 2022 as part of a series motions, which were granted, to seal court documents in connection with expert challenges. Attorney and XRP supporter John Deaton is now outlining when he thinks the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple will arrive at its long-awaited conclusion. James K. Filan, a lawyer closely following the lawsuit, says that Judge Torres has altered the case's calendar, which previously was slated to head into 2023. He posted a 15-minute video on Twitter about the XRP community and separately tweeted: Ive never seen a group so radically pick up a few words and run with it. Charles Hoskinson, the founder of the Cardano blockchain and cryptocurrency, has shared his views on the case on Twitter.
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