Ripple Shakes Up Leadership Ahead of XRP Lawsuit Outcome What to Expect in Advance. Attorney James Filan has shared the updated schedule for the summary judgment ruling in the XRP lawsuit. { Deaton, representing XRP holders as amicus curiae in the Ripple v SEC case, also noted that there would not be any insider knowledge of the cases final outcome. The platform is a next-gen trading research and analysis platform to get real-time data-driven insights for better trading decisions. Based on previous cases, Judge Torres has issued her ruling on summary judgment within a couple months of her Daubert/Experts decision. Meanwhile, Ripple and the XRP community is hopeful of the Summary Judgement in the SEC lawsuit sometime within 2023, amid rising hopes of Ripple's win. At press time, the XRP token is trading at $0.479, reflecting a 0.26% increase in the past day. This a very binary view or outlook, thus, as it makes total sense to look for where the Ethereum price is currently trading at. Amy Legate-Wolfe, Galaxy (TSX:GLXY) stock soared by 30% before dropping by 21%, so what's been going on, and should investors get in, February 22, 2023 | Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. A low RSI presents an opportunity for investors to buy XRP and rise with the market. Only Judge Torres and her team will know what the ruling is before the public does. Notably, the ruling could shape the entire blockchain and crypto landscapes in the U.S. for five years or longer. Im incredibly honored and ready to hit the ground running as president. With Longs appointment as President amid the ongoing SEC lawsuit, Ripple is poised for a critical period in its history. With $1.3 billion and crypto-regulating legal precedents up in the air, a lot is riding on this. https://t.co/wsJuRgiLHJ, John E Deaton (@JohnEDeaton1) April 2, 2023. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. That might only be six to nine months, but that's an eternity in the crypto world. The tech sector isnt as stable as, say, banking. While others believe XRP could break new ground and cover more milestones once the legal pressure dissipates. Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content. He reminded viewers that XRP suffered a blow from the SECs litigation against the payment company and the slew of delistings and bloodbath that followed. If J. Netburn orders the emails turned over as I believe she will, the SEC has 10 days to appeal to J. Torres. 2023 The Motley Fool Canada, ULC. Tech stocks can also help you diversify your investment portfolio. Join Our Telegram channel to stay up to date on breaking news coverage. The companys update highlights the March 6, 2023, order issued by Judge Analisa Torres, which determined which expert opinions from both the SEC and Ripple the court might consider during the summary judgment. Aditya Raghunath. lazyLoad: '', Ripple Labs is currently working on a payments system called RippleNet that allows vendors to accept payments in seconds. However, a ruling against it could send XRP to zero. Deaton went on to explain that the final proofreading could be ongoing or that the Judge could be in the proofreading stage. The hearing of Zakinov v. Ripple class action lawsuit is about arguments from XRP holders that have slammed the cross-border payment remittance firm with a lawsuit. The U.S. Securities and Exchange Commission and Ripple Labs both filed motions for summary judgment, arguing that a judge overseeing the case has enough information to make a ruling without moving . So far, the cross-border payment network is holding its grounds and investors are waiting for a judgment on the 24-month-old case. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. NOTICE to XRP Holders: Most XRP proponents think the token price could experience a boost if the case ends in favor of Ripple. Most crypto analysts and influencers believe the lawsuit slowed XRP's growth and obstructed its potential. He also thinks Bitcoin will become universal currency in the near future. $YPRED token, the native asset of the yPredict platform is selling fast in its presale as investors rush to cop the asset for its large utility potential and proposed massive gains. At press time, the XRP token is trading at $0.479, reflecting a 0.26% increase in the past day. Please read our privacy policy and legal disclaimer. But the financial watchdog has taken this approach one step further with Ripple. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. if (container) { October 26, 2021 10:31 pm UTC, Rick Steves "Absent a settlement, this case will not be decided until March 2022 at the earliest and possibly not even until late spring if the court decides not to rule on some of the pending motions until after the discovery deadline, which looks really possible". Bitcoin Price & Ethereum Forecast: BTC and ETH See Modest 0.5% Shift - Is a Breakout on the Horizon? Ripple has disputed the SEC's findings, insisting that XRP is not a security. Since the presiding judge denied the SEC's motion to strike Ripple's fair notice defense, this was the first key victory for the payments giant. And its the energy sectors challenge to make clean energy available and profitable, too. In his tweet, Edoardo Farina asserted that selling the XRP token before the Ripple versus SEC legal battle ends is the worst move possible. The high degree of leverage can work against you as well as for you. containerId: 'div-gpt-ad-1447236129660-0', A ruling in the SEC's lawsuit against Ripple Labs, the company behind the XRP cryptocurrency, could come in mid-2023. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. However, since January 2018 -- when it peaked at $3.84 -- XRP has seemingly done nothing but shrink. The judge overturned the SEC's objection on 29 September 2022, after the commission claimed it was protected by deliberative process privilege. Bank stocks represent partial ownership in a financial institution thats licensed to hold and loan money. Ripple pointed out that the court removed the opinion of one of the SECs experts who testified on the reasonable expectations of XRP purchasers. Investing in tech companies exposes you to a different sector in the market, helping you capitalize on gains, as well as minimize overall losses when market downturns affect other sectors. Signs of a breakthrough in this case came in late 2022, and XRP briefly rallied on the news. 2. Binance Coin (BNB) price sees its longer-term rally starting to roll over as, for a third week in a row, the support element pushing price action needs to step in. Ripple CEO Brad Garlinghouse says that he is "optimistic" that the Securities and Exchange Commission (SEC) lawsuit over xrp "will certainly be resolved in 2023." He added that it could even be resolved in the first half of this year. Long, who has been with Ripple since 2013 when the company only had ten employees, expressed her excitement about her appointment, stating: Over half of my professional career has been in crypto, and more importantly, at Ripple. While many agreed with him, others argued that the delay in summary judgment of the ongoing lawsuit was a waste of investors time. Ekta Mourya Ethereum (ETH) price is at a crucial level as it could mean either more upside or downside to come for the month of May. Qadir Ak is the founder of Coinpedia. If youre looking for stocks for beginners, youve come to the right place! .boxItemAdd > div.advertisement-header{ Ripple Vs SEC Lawsuit Update: Company Reveals New End Date Amidst Legal Battle, Ripple Alleges that the SEC Suffered a Setback in the XRP Lawsuit, Ripples Legal Turmoil Escalates: XRP Holders Pose Threat in Court. Irrespective of all the name-calling, it has maintained stronger resilience than most cryptocurrencies. It also does not guarantee that this information is of a timely nature. } 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. 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. Efficiency ratio: the efficiency ratio tells you how much revenue a bank uses towards its operating costs. Now, not so much, thanks to the rise of Layer 1 blockchains like Ethereum (ETH 0.00%), which did not exist before July 2015. Many people want cleaner energy. Cryptocurrency lawyer and XRP supporter John Deaton has given updates on when Ripples legal battle with the United States Securities and Exchange Commission (SEC) could end. Two distinct groups of XRP holders, ones who sided with Ripple in its lawsuit against the SEC and the group that slammed the firm with a class action lawsuit are both watching the hearing intently. Ripple [XRP] registered an impressive performance in Q1 of 2023. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice. Speaking at this year's World Economic Forum in Davos, Switzerland, Ripple Chief Executive Officer Brad Garlinghouse said that a final decision by the courts would come "sometime in the coming single-digit months," but June at the earliest. . The SECs charges against Ripple and two executives. In the Zakinov vs. Ripple case, the judge just agreed to extend the trial by about a month with trial starting on April 15 2024. The Motley Fool has positions in and recommends Bitcoin and Ethereum. January 2, 2023 The global crypto community is eagerly waiting for a final ending in the long running XRP lawsuit. There is no deadline of today for her to rule. Bitcoin price shows no signs of bullish momentum as it hovers below a critical psychological level. On the Flipside The current price of XRP reflects the ongoing legal action and news about the progress of the trial. XRP lawsuit: Next ruling will be "the biggest decision in the Ripple case" February 21, 2022 1:15 am UTC, Rick Steves "If Judge Netburn ultimately rules that the emails must be turned over, it is HUGE", said attorney John Deaton. As the Ripple legal team recently pointed out, "Everything is briefed, now we wait." Its important to note that not all companies pay out dividends. Once the lawsuit is over, XRP will begin to be relisted on trading platforms like Binance, Coinbase, and Kraken; and then newly listed on places like Robinhood. XRP has obtained support from several top figures in the crypto ecosystem. After several key developments in the lawsuit . The yPredict.ai ecosystem leverages the power of Artificial Intelligence (AI) and Machine Learning (ML) to create a one-of-a-kind platform. Puja Tayal, If you want windfall gains, you have to risk losing what you invest. Despite his misgivings about the XRP community, the expert foresaw a bullish price movement for the asset during his analysis. It is impossible to predict the future of any cryptocurrency, including XRP, with certainty. SEC Chair Gensler issued a broad warning to yield-earning crypto platforms to come into compliance after Kraken closed its staking service, prompting Commissioner Peirce to denounce her own agencys actions. Why XRP, Solana, and Cardano Were Up Big This Week, Here's My Top Cryptocurrency to Buy in January, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, A Bull Market Is Coming: 3 Stocks to Buy Without Hesitation, 1 Trillion-Dollar Growth Stock Down 28% You'll Regret Not Buying on the Dip, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. 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. https://t.co/EjcK25BRMc. XRP Average Daily Volume (ADV) on centralized exchanges jumped 46% in Q1 to $1B from $698M. The breathtaking case between the United States Securities Exchange Commission (SEC) and payments firm Ripple over the XRP cryptocurrency is finally nearing its end, according to attorney Jeremy Hogan. All rights reserved. Predictions for the summary judgment ruling range from May 6, 2023, to sometime within the first half of 2023. UK Treasury seeks input on taxing DeFi staking and lending: Finance Redefined, Mastercard launches Web3 user verification solution to curb bad actors, OpenAIs ChatGPT reenters Italy after obliging transparency demands. } else if (window.googletag) { By using this website you agree to our terms and conditions and privacy policy. The latter group has sided with the giant in its defense that XRP is not a security. '', Because of the complexities and nuances involved, the SEC's case has been interminable, with memo after memo, briefing after briefing, and the goalposts always seem to be moving. The price will rise significantly to around $10-15. 1. And with new technologies moving as fast as they have in the last few decades, that growth could be exponentially large. He has also interviewed a few prominent experts within the cryptocurrency space. If the court rules in Ripple's favor, XRP's value could skyrocket. FXStreet analysts believe the recent pullback in XRP is the altcoin offering investors an opportunity to accumulate before it targets $1. 17 amicus briefs at the district court level. All things aside, the performance of this week was a straight F, as the Bulls were unable to reclaim a vital support element. By this date each sides lawyers will have had the opportunity to make their cases, cross examine witnesses, and reveal evidence supporting their case. 99.9% of all Court rulings dont have the importance and significance this decision may prove to have. Nevertheless, Deaton says XRP is like a cockroach, the most resilient coin. Among them is Ben Armstrong, alias BitBoy, a notable crypto influencer. Most crypto analysts and influencers believe the lawsuit slowed XRPs growth and obstructed its potential. On Monday, it was trading in the neighborhood of $0.43. XRP RIPPLE SELLING BEFORE SEC LAWSUIT IS OVER COULD BE COSTLY - In this video, we discuss XRP News today, plus crypto news today, and more. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice. '', The high degree of leverage can work against you as well as for you. The solution is based on using XRP as a bridge currency and has enabled financial institutions to process cross-border payments faster, cheaper, and more efficiently. The crypto influencer noted that the ongoing civil litigation obstructed XRPs potential. Total XRP sales by Ripple in Q1 2023, net of purchases, were $361.06M v. $226.31M the previous quarter. The lawsuit is likely to drag for weeks or months on end, prior to its resolution, according to Huber, an XRP community member. What are dividend stocks? At the time of writing, XRP is auctioning for $0.51, down almost 0.5% in the last 24 hours. Notably, consumers are also suffering because of that, as they do not have the same protections that the United States regulatory frameworks can provide. Ripple proponent attorney John Deaton informed the community of XRP holders that there is a hearing of a class action lawsuit against the payment giant in Federal Court today. Guide to Registered Retirement Savings Plans, How to Create a Budget Youll Actually Keep, Our Top Picks for Cash Back Credit Cards in Canada, Our Top Picks for Balance Transfer Cards in Canada, Our Top Picks for Secured Credit Cards in Canada, CPP Not Enough to Retire? Currently, he writes about various asset classes, including Crypto and Stocks. November 18 is the date by which Ripple Labs lawyers are expecting the trial to end. Ethereum (ETH) price is at a crucial level as it could mean either more upside or downside to come for the month of May. The Republican voted with the two Democratic commissioners to allege that the cryptocurrency XRP is an unregistered security because its only utility since 2013 has been to be an investment. 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. In Canada, some top dividend stocks include: Procter & Gamble Pembina Pipeline Brookfield Infrastructure Partners Fortis Inc. Polaris Infrastructure [KevelPitch/] Check back here for the most up to date information about dividend stocks in Canada. And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions[]Over time, there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required. Know the mining industry The mining industry is fairly complex. Again, the broader crypto and XRP community are sensitive toward this topic, and various responses are imminent. 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. In his response, Deaton noted the huge misunderstanding among community members. This can be seen as Coinbase and Paxos received Wells notices from the SEC, alleging various securities law violations and lack of registration. The court struck the opinions of two SEC experts from the record, and a summary judgment is eagerly awaited. In August, the trial proper will begin, assuming the parties dont reach a pre-trial settlement before that time. increased the dilemma among investors torn between selling XRP or waiting for the ruling. These two stocks with disruptive technology could, December 19, 2022 | Before a trial can even begin, all discovery and other pre-trial business must be concluded. I see comments about insiders and whether @Ripple and the SEC will learn before hand. This website uses cookies. Crypto Whales are Accumulating This New Meme Coin as the Next Cryptocurrency to Explode. Ripples XRP Sales Rose by 60% in the First Quarter of 2023, Is This the SEC Effect? As per Ripple's Q1 report, the court issued 57 page opinion leading to a summary judgment in the US SEC Vs Ripple's case. If J. Torres affirms J. Netburn, the SEC could try an appeal or Writ of Mandamus to the 2nd Circuit to . Errors and omissions excepted. All things aside, the performance of this week was a straight F, as the Bulls were unable to reclaim a vital support element. Lockridge is a believer in the transformative power of cryptocurrencies and the blockchain industry. According to Ripple Labs, though, XRP was never a security and is still not a security -- it's a cryptocurrency. Ripple Lawsuit: 3 Dates to Mark on Your Calendar! In an Oct. 15 tweet, Brad Garlinghouse said the SEC had shown no concerns . Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The author has not received compensation for writing this article, other than from FXStreet. While the appointment of a new president at this juncture could possibly raise hopes that a decision is near in Ripples case with the SEC, opinion remains mixed on the firms chances of securing a positive outcome. Please read our privacy policy and legal disclaimer. Ripple's legal team received the documents on 20 October. As financial markets are always stuck with several complexities, traders are left without a wedge or proper knowledge as the majority of markets depend on news, public opinions, and or trading signals on social media to make critical trading decisions. Ripple Labs recently announced the appointment of a new president as the resolution of the U.S. Securities and Exchange Commissions lawsuit against the company draws near. Ripple CEO is optimistic the crypto firm will get ruling on XRP lawsuit soon, slams 'embarrassing' SEC. For nearly five years, crypto investors have been waiting patiently for XRP (XRP 0.00%) to return to its early glory days. For instance, in the SECs lawsuit against Kik Interactive, the presiding Judge ruled that "investment contract" is sufficiently clear and it is not vague when applied to digital asset transactions. Regulation through enforcement as opposed to what we are seeing in other countries where they are doing the work they are codifying, they are creating a framework that allows an industry to grow while protecting consumers., Further, he noted that the regulatory uncertainty in the U.S. will and is negatively impacting the largest economy in the world. The main thing going for XRP is its community, as well as for most beleaguered crypto networks. Have people noticed the #XRP coverage at @CoinDesk lately? Ripple Labs provided an update on its ongoing lawsuit with the United States Securities and Exchange Commission (SEC). Mining and mineral stocks represent partial ownership in companies that find, extract, and process minerals and materials. Ripple CEO Brad Garlinghouse revealed he was outraged with the US Securities and Exchange Commission (SEC) over the continued lawsuit against the firm's native token, XRP. Ripple has scored a strings of minor wins in its case against the commission, boosting XRP price. XRP lawsuit to face settlement? Exchanges delisting $XRP following the SEC lawsuit is worrisome for many other tokens.
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