Indeed, whether XRP is successful or not will be a key determining factor with respect to the cryptos directional move. But considering the fact XRP surged on this tweet last night, its clear most investors are looking for relief one way or another. Published on January 02, 2023 00:25 GMT-08:00edited on January 02, 2023 05:39 GMT-08:00. It said: On 11 October, Judge Torres approved TapJets and I-Remits request to submit these briefs, giving them three days to file their documents, which were made public on 14 October and 12 October respectively. Federal regulations and fear of inflation have been looming around the crypto market since 2022. Ripple Pursues CBDC Development, In Talks With 20+ Central Banks, Crypto Expo Europe to hold a workshop by Binance The worlds leading blockchain and cryptocurrency infrastructure provider, Tensions Between Aptos and Sui Go Public, Solana Network Outage Triggers Market Bears, TMS Network Gives Mammoth ROI During Presale. The Graph Price Prediction - Could GRT Stay Above $0.12 Resistance? Of course, it actually has to secure a favorable summary judgment first, yet the opinion within the industry is that it has a good chance of doing this. If there's one silver lining coming from the market's troubles today, it's that XRP's indicators are now in a position where the coin should rebound soon. Its relative strength index (purple) has risen very close to 70 in the past few days, an indicator that the optimism surrounding the Ripple case has injected some extra buying pressure into its market. For example, the past year or so has witnessed the upholding of Ripple's right to present a fair notice defense. It tweeted: Judge said SEC should provide clarity on legal secondary sales, SEC smirked/laughed at him.. One of its reporters later revealed that a Ripple spokesperson had denied these claims. Given the current market scenario, experts opine that XRP is set for a price rise. TipRanks->. Hoskinson said: Thus it seems totally unnecessary to construct elaborate personal attacks on former and current government employees and also attack Bitcoin for its energy use or Chinese influence. But I feel very good about where we are relative to the law and the facts.". Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Lets analyze how several factors can affect this price prediction in 2023. It seems highly u. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Garlinghouse's comments came as final motions in the XRP lawsuit were put to the court, with the final ruling expected at some point this year. If Craig Wright wins, Bitcoin developers will be forced to modify Bitcoin code. For the first time in almost five months, XRP broke through the $0.40 level. 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. This is a positive catalyst for XRP price as it would significantly increase the adoption rate. click below link to register. All rights reserved. On Jan. 4, 2018, it hit $3.84, which is still its all-time high. Solana Price Prediction - Solana Resists FUD From Panic Sellers, Bitcoin Price Forecast - BTC May Only Need 4 Weeks To Hit $30K. There are two main reasons why some people think a settlement to the XRP lawsuit could come this month: . Charles Hoskinson, the founder of the Cardano blockchain and cryptocurrency, has shared his views on the case on Twitter. Hoskinson clarified that it was absurd to apply securities regulations to assets that have millions of international independent investors and users. 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. . The brief supported Ripples argument. After The New York Times posted an article stating ripple has dropped down the rankings since the SEC labeled it a security, Alderoty corrected the publication. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The judge overturned the SECs objection on 29 September 2022, after the commission claimed it was protected by deliberative process privilege. 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. 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. However, the XRP lawsuit may end the debate over the crypto market regulation. For instance, November saw Ripple succeed in having 14 amicus briefs including one from Coinbase filed on its behalf to the presiding court, with each presenting testimony and evidence in its favor. The XRP community hopes the ongoing lawsuit will end soon since it has dragged the asset's performance down significantly in the past two years. Cardano Price Prediction - Will ADAs Price Maintain Support after the Negative PR? More so, the SEC is also arguing that Ripple executives knew that XRP sales and trading did not meet the principles of the Howey Test. By Ashish Kumar. Orbeon Protocol (ORBN), Shiba Inu (SHIB) and Bitcoin (BTC) Cryptos Set To Dominate In March. Once the bridge is implemented, the blockchain will join numerous networks that leverage this technology, including Ethereum, Avalanche, Solana, Binance Smart Chain, and others. However, on 22 December 2022, the SEC applied to keep the Hinman documents out of the public domain. Ripple Labs is a strong company with a great product and a very experienced team. While Ripple has not denied the sale of XRP, the cryptocurrency company has argued that it does not meet the Howey Test criteria. A quick 3min read about today's crypto news! Also, cryptocurrency advocate and lawyer John Deaton communicated his confidence that Ripple will emerge victorious and the Supreme Court would not uphold the SEC's overreach, which has added fuel to the increase in social sentiment around the XRP price rise. The dates . While CoinPriceForecast expects the value to hit $2 by the end of 2021 and $3 by the end of 2022. in order to end the lawsuit . FOLLOW ME ON TWITTER: www.twitter.com/@1KNG33FOLLOW ME ON INSTAGRAM https://www.instagram.com/1grandkng/XRP takeover is imminentXRP will explode XRP is the goat 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. However, the SEC asked the judge to deny these requests. This was a win for the Ripple team, as the documents mainly referenced a speech given by Hinman at the Yahoo Finance All Markets Summit in 2018, in which he said that ether was not a security. 1125 N. Charles St, Baltimore, MD 21201. With that said, its clear a resolution to this case would likely be beneficial for token holders in the near term. A federal judge presides over the lawsuit's multiple motions from the SEC and XRP. Here are three key dates on the road to a settlement. Capital Com is an execution-only service provider. Great job turning an ally into someone disgusted and totally checked out.. The payment service provider has partnered with hundreds of financial organizations and banks, facilitating fast and easy transfers across borders at the best prices. Embattled cryptocurrencyXRP(XRP-USD) has seen its fair share of volatility over the past year. And what's interesting is that even with the case continuing to cast a shadow over this business, it has managed to grow in recent months. However, as the news broke out regarding the upcoming court ruling, XRP started to decouple from the market and climb higher. 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. He tweeted: To be clear, the SEC hasnt labeled XRP a security, nor does it have the power to do so., To be clear, the SEC hasnt labeled XRP a security, nor does it have the power to do so. While the ball seems to be in Ripple's court, the legal battle seems to be a long way from coming to an end. The SEC is not looking to apply the law they are looking to remake the law in the hopes that it can impermissibly expand their jurisdiction.. This price prediction was fueled by recent developments in the XRP ecosystem and a broader surge in the cryptocurrency market. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Since then, Ripple has been trying to protect itself against the SEC and fighting to break the resistance level in price. Currently, there is greater pressure on riskier assets as the US economic data has raised new concerns for the Federal Reserve. In a Twitter (NYSE: TWTR) post last Saturday, Ripple CEO Brad Garlinghouse said, "Today's filings make it clear the SEC isnt interested in applying the law. After sharing a revised schedule update for the summary judgement in Ripple v. SEC, Filan announced this yesterday. Breaking: Tether Investigation Reveals Use of Fraudulent Documents and Obscured Identities to Open Bank Accounts. This New Metaverse Project Aims to Create a Virtual World Where Anyone Can Build Anything Is it Possible? quotes delayed at least 15 minutes, all others at least 20 minutes. This display of cooperation made some people believe that a resolution was near but District Judge Analisa Torres has yet to set a date for another hearing. Thats because whether cryptocurrencies are deemed securities could dictate the ability for the SEC and other regulatory agencies to police this unregulated sector. If you're looking for other high-potential crypto projects alongside XRP, we've reviewed the top 15 cryptocurrencies for 2023, as analyzed by the CryptoNews Industry Talk team.The list is updated weekly with new altcoins and ICO projects. "The lawsuit has gone exceedingly well, and much better . The tokens price then dropped to $0.32 on 9 November 2022. Oh man that's a huge gamble for people still buying xrp. XRP climbed again upon the arrival of the new amicus briefs and the new dates proposed by the SEC. 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. 1125 N. Charles St, Baltimore, MD 21201. . Past profits do not guarantee future profits. Still, this schedule would apply under a summary judgment scenario. The long-running court case between Ripple Labs and the US Securities and Exchange Commission (SEC), which could set a precedent for the whole cryptocurrency industry, could come to an end after the Ripple/SEC lawsuit entered its third calendar year. Following a 2.06% decline on Friday, XRP ended the day at $0.7055. 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. Both the SEC and Ripple Labs, the company behind theripple (XRP) cryptocurrency, had until 30 November 2022 to submit a reply in support of their summary judgment motions, which were made public on 2 December 2022. Ripple's CEO Expects a Decision on SEC Suit Over XRP This Year. The court has previously asserted, correctly, that a digital asset is not a security solely by virtue of being represented in digital form or recorded on a blockchain ledger., Trials and juries are really to determine if theres uncertainty about facts. https://t.co/oMUjZwBkZo. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Additionally, according to attorney Hogan, Judge Torres might issue a decision that would take some time for people to determine if Ripple won or lost. At the end of 2020, the SEC filed a lawsuit against Ripple Labs, accusing the company and its co-founders of failing to register their native XRP token as a security. There was speculation in December 2022 on Twitter that the case, which hangs on whether Ripples XRP token is an unlicensed security,could have been settled that month after an ask-me-anything with Cardanos Charles Hoskinson. Ripple anticipates that the case will be resolved this year, nearly 15 months after it was first filed. US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC What's Going On? Just Released! Theres a lot of companies, I think, that realize how important this case is to the whole industry., In April, Stuart Alderoty, legal counsel at Ripple, tweeted: It now looks like a resolution will come in 2023 and each day that passes is hurting U.S. citizens who were essentially the victims of a rug pull by the SEC. 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. Type a symbol or company name. I think the SEC has massively overstepped and is trying to take kind of jurisdictional ownership over something that is I think they saw this gray area theyre like hey we are going to go in,' the Ripple executive explained. 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. We don't know, because we are still waiting for the Ripple court case to finish. The price was sitting (as of March 2018) XRP @ $0.67 and ETH @ $587, an ETH:XRP ratio of 876:1. "The SEC and [SEC chairman] Gary Gensler has very outwardly said he views almost all crypto as a security. Even though the XRP market is currently volatile, it is still a valuable asset that may be worth more in the future. The SEC has sued XRP and parent company Ripple in 2020 . B2BinPays New Partnership With the Athletic Club Is a Triumph for Ride With BitKeep and Seize the Opportunity as Arbitrum Argonaut Makes Aurora Labs Launches Turnkey Blockchain Solution for Businesses Transitioning to Web3. The Ripple executive quickly emphasized that in that situation, XRP would only be considered a security in the United States. Garlinghouse and Ripple Labs chair, Chris Larsen, claimed the sales were legal. Ripple is also arguing that the SEC has no jurisdiction over XRP tokens as many of them have been bought and sold through exchanges outside of the U.S. The Ripple chief had earlier specified that the lawsuit with the SEC would reach a resolution in the first half of 2023. Image Credits: Shutterstock, Pixabay, Wiki Commons. This ruling has quite a few similarities with the XRP case. The SEC sued Ripple Labs, Garlinghouse, and co-founder Chris Larsen in December 2020, alleging that the XRP sale was an unregistered securities offering. And if an observer were to consider previous developments in the Ripple-SEC case, they might conclude that Ripple really does have a serious chance of securing a judgment in its favor. Analysts are bullish on Ripple price rally, set a target of $27 for XRP. In turn, this will increase demand for XRP, which could enjoy substantial price increases later in the year, particularly if the market as a whole continues to recover. 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. So well see how it plays out from here. Ripple's XRP token on Tuesday surged 28%, to $1.73, the highest point in over three years. Crypto experts predict that XRP has the potential to reach $10, and the ongoing lawsuit has not diminished this. Ripple has plans to launch a new cross-chain bridge for the XRPL network to support cross-chain transfers between different blockchain networks. Against this backdrop, G20 highlighted cryptos and underlined the need for a strong global regulatory framework. Attorney John Deaton, who is representing XRP holders in the SEC Ripple lawsuit, explained what is happening behind [] If the SEC is to demonstrate that Ripple did sell unregistered securities, it needs to provide a clear exposition of what exactly this common enterprise is, yet for some it hasn't quite done this. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Use the training services of our company to understand the risks before you start operations. Shiba Inu Vs. Dogecoin, Which Meme Coin Will Hit The $1 Bullish Target First? XRP is one of the first cryptos to have been asserted to be a security by the SEC. Pro-XRP Lawyer Forecasts End of Ripple Lawsuit As Rumors of Settlement Swirl. Former U.S. prosecutor James K. Filan continues to forecast the day Judge Torres will issue a final decision in the ripple litigation. (Bloomberg) -- Brad Garlinghouse said the US Securities and Exchange Commission's suit . 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.". It may represent the bottom of any further fall today, providing buyers with a good entry point. 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's been a bearish week for XRP. XRP. This revealed that it had processed $226.31 million in net XRP sales in that quarter alone, with its on-demand liquidity product now available in over 40 countries, following launches in France, Sweden and Africa. One last glaring problem with the SEC's lawsuit against XRP is the basis for what an investment contract is. XRP tracked the broader crypto through the week, with market . The lawsuit, which the SEC filed against Ripple in December, alleges that Ripple raised more than $1.3 billion by selling XRP in ongoing unregistered securities offerings. However, according to the majority of legal experts who have shared updates regarding the suit, Judge Analisa Torres will render her decision on or before March 31, 2023. Thus, sometime after 2 p.m. EST today could be when we hear what the ultimate resolution is with respect to this ongoing lawsuit. Before the SEC lawsuit, XRP was running at a little over one third the market cap of ETH, sitting at third place to BTC and ETH. 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. Although XRP had major price resistance, it didnt stop the company from rolling out new technologies or making strategic partnerships. XRP Price Prediction 2023 -up to $0.62; XRP Price Prediction 2026 -up to $1.89; XRP Price Prediction 2029 -up to $5.66; XRP Price Prediction 2032 -up to $17.09; As SEC loses ground in its suit against Ripple, the odds are for a turnover of Ripple's fortune.Some industry observers point out that Ripple's minor victories in NFTs and ODL could result in a . But partner at Hogan & Hogan law firm Jeremy Hogan thinks the continuing dispute between Ripple and the SEC is more complex than a win or a loss. XRP Lawsuit Might Not End In Settlement; Here's Why. Meanwhile, LBRY argued that its LBC token is not a security and that the SEC did not give fair notice. Indeed, this legal nonsense is likely to drag until the end of the year unless the judge pulls the proverbial rabbit out of the hat. At writing, XRP is trading at around $0.48, up 47% in the last seven days. The Ripple CEO also said that he would consider a settlement, as long as XRP is not classified as a security. The judge presiding over the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple has made an unexpected schedule change. TERRA 2.0 Price Prediction 2023, 2024, 2025: Will LUNA Recover The $10 Mark? It has been a hectic few weeks of unsealed memos, and despite the ongoing war, the XRP community was eager to know whether things were looking up for the controversial crypto asset. Stuart Alderoty, Ripple's Chief Legal Officer, has said that Gary Gensler needs to recuse himself from future decision-making exercises touching on the The lawsuit crashed the price of XRP while making the cryptocurrency . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. It peaked at $0.507 on 5 November, but then plummeted after the LBRY news. Meanwhile, the court is yet to produce a Summary Judgment in the case. Bullish scenario: Ripple wins the case against the SEC, and the token gets relisted on American exchanges. The blinded speculators keep thinking XRP is being used by institutions, it isn't, Ripples software stack is deployed for sure but XRP has no lien over Ripple Inc. shares. On September 19, 2022, it was published that both parties had filed separate motions, both calling out for a summary judgment. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. On March 8, 2021, the SEC requested an urgent hearing before the judge. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. This lawsuit has stretched longer than anyone had anticipated. The outcome of the lawsuit will play a huge role in defining XRP's future price movement. Hester M. Peirce (SEC Commissioner) published the Token Safe Harbor Proposal 2.0 on April 13, 2021, to provide a three-year . 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. pic.twitter.com/nU18KgrMNr. effectively putting an end to this . Despite the long ongoing legal process, no significant breakthrough has been seen until this week. 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. We don't know for sure, although a ruling is expected to be made at some point in 2023. Jeremy Hogan, a renowned lawyer within the XRP community, has given an estimate on when the long-standing SEC v. . 2023 InvestorPlace Media, LLC. XRP's market value turned positive in the last 24 hours for the first time since May. XRP/USD Price Chart - Source: Tradingview. Both parties have submitted their briefs in the court seeking judgment in their favor. Ripple (XRP) came out in 2012 and did pretty well until the case with the SEC. XRP is one of the few mega cryptocurrencies which failed to achieve a new all-time high during the 2020-2021 bull market. Dogecoin Price Prediction: DOGE Remains Unchanged Despite Musks Tweets, Crypto Prices Are Dropping, But Technical Indicators Signal Bull Run Coming, Top 5 Meme Coins Expected To Make A Surprise Rally This Week, Best Cryptos To Buy Ahead Of The Next Bull Run, Ethereum Price Prediction - Could ETH Pass The $1700 Resistance Key Level. 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. All rights reserved. 5 min read. Several legal experts have offered potential dates for when the decision will be made. XRP holders' lawyer, John Deaton has dropped his prediction over what could be the end of the Ripple Vs SEC lawsuit. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Ripple's opinion is that XRP isn't a security, but because of the lawsuit, XRP once the third-biggest crypto in the world had been delisted by several exchanges, including Coinbase. Fastest Growing Cryptos That Will Change The Game In 2023, Why The Dogecoin Price Could See Another Bull Rally Soon, Bitcoin Price Could Fly Past $25k To $30k If This Happens On Wednesday, Top 5 Meme Coins To Keep An Eye On In The Next Bull Run. The glass-half-full view is that if Ripple gets past the lawsuit . Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? At the end of September 2022, Judge Torres ordered the SEC to hand over the documents by William Hinman, a former corporation finance division director at the SEC. This would end the lawsuit and avoid a courtroom trial. Crypto analysts expect that at the end of summer 2023, the XRP price will be around $0.459954. The crypto is currently trading at $0.374949, although significantly down from its 2018 all-time high of $3.84. After Ripple's response to SEC's motion to compel Ripple to produce recordings of internal meetings, the deadline to conduct expert discovery has been set to 12 November 2021. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena. Elena is an expert in technical analysis and risk management in cryptocurrency market. 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. The SEC has filed a lawsuit against blockchain-powered fintech firm Ripple over the $1.3 billion unregistered sale of XRP. Stu Alderoty, Ripples general counsel, told Capital.com: The filings show that the SEC is acting outside their legal limits. A favorable outcome in the SEC case would skyrocket XRP prices to the moon. Possible lawsuit ruling. Tweeting on January 20, noted attorney and a regular commentator on the Ripple-SEC case, James K. Filan declared that "Everything is Briefed" with regards to the case and that "Now We Wait," suggesting that the main thing left to do is for the presiding judge, Judge Analisa Torres, to reach a summary judgment. 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. SEC Suit Could End In April 2022. Ethereum Price Prediction as $210 Million Gets Liquidated in Market Volatility Where is ETH Heading Now. Crypto advocacy groups have also joined this list, including the Chamber of Digital Commerce and the Blockchain Association. It's highly arguable that $0.36 is a massive discount for XRP, which is in a position to benefit from some highly significant news this year. 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). According to the attorney based in Florida, the result of the lawsuit between Ripple and the SEC is being eagerly awaited across the sector, with Pickett highlighting that: "If Ripple is successful in their lawsuit, it could help solidify XRP's legality in the US market, which would benefit its price.". . One Day. Disclaimer: This article is for informational purposes only. This growing list of partnerships and expansion will significantly affect the price of XRP. 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 . The lawsuit didn't exactly come out of nowhere. This test determines whether or not an asset can be defined as a security. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. #XRPCommunity #SECGov v. #Ripple #XRP Scheduling Update as of November 4, 2022, with dates specific to the Motions for Summary Judgment (corrected). It said: The SEC took no position on the brief, according to defence attorney James Filan. However, Eleanor Terrett, a reporter for the channel, revealed in a since-deleted tweet that a Ripple spokesperson had dismissed this claim. After the filing of initial summary judgement motions on 17 September, XRPs price saw a steady climb. 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. A total of 16 different briefs have been submitted, with the industry leader Coinbase the latest to file its support. Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The XRP (CRYPTO:XRP) lawsuit is set to end by November. ", Stuart Alderoty, Ripple's general counsel, added, My hot take - after two years of litigation, the SEC is unable to identify any contract for investment (thats what the statute requires); and cannot satisfy a single prong of the Supreme Courts Howey test. Ripple and the executives have denied the allegations, and the company has argued that XRP has traded and been used as a digital currency. With whom is the contract? 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. Former Rep. George Nethercutt Jr. fumed in an article that the action against Ripple is "a glaring example of regulatory overreach.".

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