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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. Indeed, whether XRP is successful or not will be a key determining factor with respect to the cryptos directional move. Buyers came in strong, and broke through the previously-mentioned resistance levels (areas on a chart where the sellers are stronger) from this weeks "Cryptocurrencies to Watch" article. Ripple has also secured positive rulings in the past year, including the court upholding its right to present a fair notice defense. The SEC claimed that Ripple engaged in unlawful security sales of XRP, its currency. However, the XRP lawsuit may end the debate over the crypto market regulation. At the same time, XRP's 30-day moving average (red) has turned up towards its 200-day (blue), something which signals a potential breakout, especially if the shorter-term average overtakes its longer-term counterpart. Although XRP had major price resistance, it didnt stop the company from rolling out new technologies or making strategic partnerships. Individual corruption has nothing to do with Howie [sic].. On 21 September 2022, the court reviewed and granted the request for the Chamber of Digital Commerce, an American advocacy group for blockchain technology, to file an amicus curiae brief. Ongoing for more than two years, the legal battle between XRP's issuer, the blockchain company Ripple, and the United States Securities and Exchange Commission . Why Ripple's fighting with the SEC over XRP - Protocol Federal judge Sarah Netburn has initially ordered the SEC to produce emails relating to Hinman's speech on it, but the SEC challenged that order. This lawsuit has stretched longer than anyone had anticipated. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The Ripple (XRP) Lawsuit: What You Need to Know | Nasdaq . . This price prediction was fueled by recent developments in the XRP ecosystem and a broader surge in the cryptocurrency market. Even amidst the ongoing lawsuit, Ripple managed to form a new alliance with the Dubai-based Joyalukkas Exchange. Following a 2.06% decline on Friday, XRP ended the day at $0.7055. Several legal experts have offered potential dates for when the decision will be made. "Judges take however long the judges will take, he said, speaking at the World Economic Forum in Davos, Switzerland. Alderoty tweeted: Over 18 months and six court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). XRP was once the coin with the greatest potential and innovative use cases for financial institutions and banks. Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. He said he had heard rumours XRP v SEC could be finalised around 15 December. In a separate case, in which the SEC filed a complaint at . On 12 December 2022, Judge Torres granted an application by both parties that set a deadlijne of 4 January 2023 for non-parties to ask for court materials to be sealed. That will, ultimately, be the biggest bit of Ripple court case news to come. From there it fell to a periodic low of $0.334 on 19 December 2022, before recovering slightly to a high of $0.372 on 27 December 2022 dropping to close the year at$0.3399. Thats because whether cryptocurrencies are deemed securities could dictate the ability for the SEC and other regulatory agencies to police this unregulated sector. In September 2022, Garlinghouse said on Fox Business: Our point is, Ripple doesnt have a contract. Don't have your own account? In his opinion, any component of the litigation can be settled at any time. On a new episode of Real Vision Crypto, Deaton was asked whether he sees the timeline for summary judgment in the case to happen by March 31st. While the cryptocurrency market has seen a little bounce over the past week or so, it still hasn't returned to wholly bullish conditions just yet, and is waiting on the global economy to make a full recovery until it begins to surge again. Ripple's CEO Expects a Decision on SEC Suit Over XRP This Year He added: Its frustrating its taking this long. Here's When Ripple and XRP Lawsuit Could End After Surprise Schedule Since the lawsuit started, XRP has been delisted from Coinbase (NASDAQ: COIN) and other U.S. exchanges. Ripple Labs is a strong company with a great product and a very experienced team. The Ripple/SEC lawsuit: Filing ends. This would only stunt XRP's growth in the indices, making it harder . Ripple SEC suit decision: XRP court ruling timing and details in full XRP price prediction 2021: Will Ripple's crypto hit $5? Ilan Tenennbaum for 2023 InvestorPlace Media, LLC. Ripple: XRP Displays Bullish Signals as 'Shorting' Reaches All-Time Low The very fact that there is an independent XRP army criticizing me is proof of this reality. So well see how it plays out from here. As of . Former U.S. prosecutor James K. Filan continues to forecast the day Judge Torres will issue a final decision in the ripple litigation. If you're waiting for XRP to hit $5, you'll have to wait until 2025, according to the site . Shiba Inu Vs. Dogecoin, Which Meme Coin Will Hit The $1 Bullish Target First? What's happened to the xrp lawsuit? Ripple disagreed with the SEC and has since been fighting a legal battle with the securities regulator. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? Ripple, SEC make final bids for a quick win in XRP lawsuit Top Reasons Why the Crypto Market May Plunge This Weekend! Table of Contents [ Show ] Ripple (XRP) Price Potentially, this thing could last all the way to the end of November. Until then, the Ripple lawsuit outcome is up in the air. Jeremy Hogan, a renowned lawyer within the XRP community, has given an estimate on when the long-standing SEC v. Despite the long ongoing legal process, no significant breakthrough has been seen until this week. Ripple CEO Expects Lawsuit with SEC to End in 2023 However, the SEC said it may request more time if more amicus briefs were granted. One last glaring problem with the SEC's lawsuit against XRP is the basis for what an investment contract is. Then, on 21 November, a status conference was held between LBRY and the SEC. Some notable names include Axis Bank, Federal Bank, Canara Bank, Metrobank, and more. These G20 headlines and the rising Fed concerns are causing XRP to remain under pressure. There is a lot of money riding on it and there are several significant vested interests so whos to say. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The SEC . However, in December 2020, the SEC sued Ripple Labs, claiming it had raised $1.3bn by selling XRP through unregistered security transactions. Were optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. XRP holders' lawyer, John Deaton has dropped his prediction over what could be the end of the Ripple Vs SEC lawsuit. XRP/USD Price Chart - Source: Tradingview. Ripples fast transaction speed is one of its key selling points, making it an ideal choice for financial institutions. Ripple's court battle with SEC has gone 'exceedingly well,' CEO says - CNBC Prior to this, the parties had filed their initial motions for summary judgment, published . However, if either party files motions or appeals, or the judge decides that she needs oral arguments, then final judgment on the case could be further delayed. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. This would end the lawsuit and avoid a courtroom trial. XRP vs. SEC lawsuit update - Cryptopolitan It saw slight gains that month after rumours, announced by Fox Business, that a settlement had been made between Ripple and the SEC in the Ripple lawsuit. 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. In recent weeks, larger investors have been accumulating XRP, likely in the expectation that it's due a big rally in the coming months, pending the resolution of the case. 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. There has been some confusion about the process. Attorney Jeremy Hogan of the Ripple community, believes that the SEC's lawsuit against the payments giant could be . With the end of the lawsuit looming and the overall crypto market improving, Ripple is a coin to keep on your watchlist in 2023. XRP ( XRP-USD) surged overnight before giving up some of its gains today on news that a potential settlement could be on the horizon. XRP Price Prediction as Ripple CEO Prepares for SEC Lawsuit Conclusion 'This Year' Can XRP Reach $10? XRP invalidates four-month long downtrend as SEC lawsuit nears Ripple Vs SEC Lawsuit Gets The Final Ruling Date, Ripple, The Movie: From Scrappy Startup To LegalBattlefront By David Schwartz and ChatGPT, Ripple Vs SEC Lawsuit To See End This Year Says CEO Brad Garlinghouse. Past profits do not guarantee future profits. Bitcoin Price Prediction Why is BTC Down and Where is the Next Support? 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. . Type a symbol or company name. XRP's market value turned positive in the last 24 hours for the first time since May. Crypto experts predict that XRP has the potential to reach $10, and the ongoing lawsuit has not diminished this. They want to remake it all in an impermissible effort to expand their jurisdiction far beyond the authority granted to them by Congress. However, along with partnerships and network developments, much of the increase can be attributed to the investors positive reaction to the speculation that Ripple would likely win the lawsuit against SEC. In October 2022, the SEC and Ripple Labs submitted motions of opposition to the counterpartys summary judgment filings. Ripple and the U.S. Securities and Exchange Commission accused one another of stretching the law, as they argued for a ruling on whether the XRP, the world's seventh-largest cryptocurrency, is a . Everything else is just noise.. Mayukha Vadari, a software engineer at Ripple, recently tweeted about the new cross-chain bridge protocol and shared the link on the same. Bullish Momentum On XRP The case between Ripple Labs and the SEC continues to make headlines four months after the regulator initiated the lawsuit at the end of 2020. The altcoin's current price represents a 10% gain in a week and a 20% rise in the last 30 days, pushed upwards by the market expectation that the aforementioned case has entered its end phase. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. And assuming that this is a favorable one for Ripple (i.e. The lawsuit didn't exactly come out of nowhere. In my opinion, there are three possible scenarios : It will be interesting to see what happens with the lawsuit, moving forward.