Deaton Explains Why SEC Didn’t Include Former Ripple Founder Jed McCaleb in XRP Lawsuit
XRP community members have been questioning why Jed McCaleb, co-founder of Ripple, was not included in the ongoing SEC lawsuit against Ripple for allegedly offering unregistered securities in the form of XRP. Attorney John Deaton explained that McCaleb was exempted from the lawsuit because he is considered one of the industry players on "Crypto's Mount Rushmore" list, along with Bitcoin's pseudonymous founder Satoshi Nakamoto and Ethereum's Vitalik Buterin. Deaton added that McCaleb is also known as the "Teflon Don" of crypto. McCaleb received a share of 20 billion XRP in 2012, but left Ripple in 2014 due to a fallout with Ripple executives. He agreed to a lock-up plan for his XRP share to prevent a market crash.
XRP Sees Highest Profit-Taking Ratio Since Aug 2021 Amid 44% Rally
XRP has surged over 44% in the past eight days, with traders raking in profits amid a highly anticipated uptrend. According to data from market intelligence resource Santiment, XRP investors are engaging in profit-taking transactions twice as much as loss-incurring transactions. This bullish turn of events comes amid speculation of an imminent judgment in Ripple's favor in the ongoing SEC litigation. XRP has established a firm position above $0.50 and seeks to conquer $0.55. With a 16.92% gain in the past week, XRP is the highest-gaining asset among the top 80 cryptocurrencies.
XRP Rally Extends March 2023 Gains to More than 44%, What’s Next?
Ripple's native cryptocurrency XRP has seen a strong rally in March 2023, with the price reaching $0.55, the first time it has passed $0.50 since November 2022. XRP is currently trading at $0.5349 with a market cap of $27.640 billion. The trade profit-taking ratio has also seen a surge, reaching its highest ratio vs. loss-taking since August 2021. One of the major reasons behind the rally is the belief that the Ripple vs the SEC case will come to an end in the near term, potentially this week. The outcome of the case is important for the crypto industry, as it could usher in a new era of transparent and clear regulations. If the SEC case comes to an end, XRP bulls could charge further from current levels. (coingape）
Biggest Movers: XRP Hits Fresh 5-Month High on Tuesday, Extending Recent Win Streak
Xrp rose to a fresh five-month high on Tuesday, as prices climbed for a fourth straight session. The token moved to its highest point since November, which comes despite a red wave sweeping over cryptocurrency markets. The global market cap is down 2.35% as of writing.
Asia Leads Crypto Regulations, Innovation May Leave the US, Says Ripple’s Long
The regulatory landscape for cryptocurrencies and blockchain technology in Asia is evolving, with some countries taking a more innovative approach while others remain cautious.
Ripple CBDC Product Manager Contributes to New Digital Euro Association Paper
The Digital Euro Association (DEA) has released a whitepaper exploring privacy controls for central bank digital currencies (CBDCs), with contributions from Ripple's Director of CBDC Product Management, Anthony Ralphs. The paper highlights privacy as a primary concern for citizens when considering CBDCs, and suggests the creation of minimum global standards to address these concerns. The DEA's paper concludes that each central bank would have a different view on privacy. Ripple continues positioning itself as a solution provider in the CBDC race, with Senior Vice President Brook Entwistle disclosing that the company is working with 20 countries on CBDC solutions.
US Crypto Firms To Migrate Fast After Binance Case, Claims Ripple Policy Head
The recent enforcement action against Binance by the US Commodity Futures Trading Commission (CFTC) has led experts to suggest that the crypto industry may shift to other countries with lighter regulations. Susan Friedman, Head of Public Policy at Ripple Labs, stated that other jurisdictions have already constructed regulatory frameworks for crypto over the past four years, while the CFTC is still struggling. She added that it's not a question of if the industry leaves the US, but how fast. Ripple Labs, its co-founder Chris Larsen, and CEO Brad Garlinghouse are already involved in a legal battle with the US Securities and Exchange Commission (SEC), and both parties are awaiting a Summary Judgement in the XRP lawsuit. Stuart Alderoty, Chief Legal Officer of Ripple, has questioned the SEC's claims to "just come in and register" in the recent cases and called for the commission's jurisdiction overreach to be stopped.
XRP Surges to Five-Month High as Some Point to Bitcoin Commodities Mention
XRP tokens rose 8% to just under 50 cents in Asian morning hours on Tuesday, reaching a five-month high. Some members of the community suggested that the classification of major tokens as a commodity in a US Commodity Futures Trading Commission (CFTC) filing against Binance could mean XRP tokens were commodities instead of a security, as alleged by the US Securities and Exchange Commission in the ongoing Ripple v. SEC case. Ripple has previously made the case for xrp tokens as a commodity. The CFTC filed against Binance, alleging that it offered unregistered crypto derivatives products and directed US customers to evade compliance controls through the use of VPNs.
Binance Adds New Trading Pair For XRP Despite Facing CFTC Lawsuit
World’s largest cryptocurrency exchange Binance has added a new stablecoin trading pair for XRP. According to an announcement today, Binance added the XRP/TUSD pair to its platform. The move will allow users to trade the sixth-largest cryptocurrency against the fifth-biggest stablecoin.
Ripple CTO Submits That XRP Could Make a Good Collateral
Ripple's Chief Technology Officer, David Schwartz, has stated that XRP could make a good collateral asset. Schwartz made the comments during an interview with a financial media outlet, where he discussed the potential use cases for XRP in the financial industry.
Biggest Movers: XRP Nears 5-Month High to Start the Week, Despite Crypto Market Consolidation
Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week.
Ripple President Hopeful of a Win in XRP Lawsuit, Predicts When Decision Will Be Pronounced
Ripple's President, Stuart Alderoty, has expressed hope that the company will win its ongoing legal battle with the Securities and Exchange Commission (SEC) over the status of XRP. Alderoty has also predicted that a decision in the case will be pronounced in the coming months.
Ripple Data API Stuck That Use to Source XRP Circulating Supply Data
XRP proponent and crypto researcher, Leonidas Hadjiloizou, has pointed out that the Ripple Data API, which provides crypto exchanges and data aggregators with information about XRP's circulating supply, has not been updated since February 12. While Leonidas maintains that it is not a significant problem, he notes that failing to fix it would mean that crypto exchanges continue reporting erroneous figures. The finding has prompted calls for the XRP Ledger Foundation (XRPLF) to take over the maintenance of the API, as reflected by a poll made by Hansen.xrp. The Ripple Data API and XRP's circulating supply have been subject to controversy in the past, with Messari alleging in 2019 that Ripple's quarterly reports and the Ripple Data API offered misleading information.
XRP Lawsuit Summary Judgment May Land This Week, Suggests Case Insider
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) over XRP is waiting for the U.S. District Court to announce a Summary Judgment, which is expected to make or break Ripple's native crypto, XRP price ahead. Attorney John Deaton, who is involved in the XRP lawsuit, has suggested that a ruling in the case is closer than it appears and could be announced within the next few weeks. He added that a judgment may even be announced this week. Deaton also stated that XRP currently holds the most attractive risks/reward ratio for investors, and even if the SEC wins, Ripple and the defendants can appeal in court and gain the status quo.
Deaton Taps XRP as an Attractive Investment at Current Prices
As we approach a ruling in the United States Securities and Exchange Commission (SEC) case against Ripple, speculations about its potential implications on the price of XRP have soared. In a tweet yesterday, Attorney John E. Deaton, who represents thousands of XRP holders as a friend of the court in the extended legal battle, lent his voice to these speculations.
Ledger Issues Warning About a New Scam Targeting XRP Holders
Ledger says scammers are posing as its employees to steal users’ XRP.
Fortune Article Says Ripple and XRP Could Succeed Regardless of SEC Case Outcome
In a recent newsletter, Fortune Crypto Editor Jeff John Roberts asserted that Ripple has finally found a long-term value proposition for the company and XRP, the native token of the XRP Ledger.
