Ripple's Chief Legal Officer Exposes SEC's Unlawful Legal Practices in ongoing Legal Battle
The legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) is still awaiting a ruling from Judge Analisa Torres. Ripple CEO Brad Garlinghouse recently stated that a ruling would likely come in “two to six months” rather than the first half of 2023. Despite this, Ripple’s Chief Legal Officer Stuart Alderoty continues to criticize the SEC and expose its unlawful legal practices.
Attorney Morgan explains how the SEC plans to prove XRP is a security
Lawyer Bill Morgan has speculated on how the US Securities and Exchange Commission (SEC) plans to prove that XRP is a security. Morgan believes that the SEC wants to expand the Howey test to cover cryptocurrencies by taking an extensive view of common enterprise, which has made it difficult for anyone to pinpoint the common enterprise in the SEC vs. Ripple case.
Cryptocurrency Market Faces Bearish Pressure with Signs of Potential Recovery
The cryptocurrency market has been dominated by bearish momentum, with most cryptocurrencies trading around support levels. Bitcoin and major altcoins have experienced a decline, but there are signs of a potential recovery. Ethereum has seen a significant drop, with the possibility of further decline. XRP has been the most affected by bearish pressure, and the market could show signs of recovery if buying pressure increases next week. However, Bitcoin is facing pressure due to the relief rally in the U.S. dollar index, and the bears are firmly in control for now. Despite this, some coins may potentially recover in the near future, although the overall outlook for the crypto market remains bearish.
Crypto Exchange Delists Rival XLM, Ripple Community Questions Motives and SEC Chairman’s Involvement
Bakkt, the crypto business arm of Intercontinental Exchange (ICE), has decided to delist a number of digital assets, including Stellar Lumens (XLM), which is a rival of Ripple's XRP. The exchange cited regulatory guidance and industry developments as the reasons for the mass delisting, which is part of the exchange's regular coin listing review process. However, the decision has been met with criticism from the Ripple and XRP community, with some members speculating that it may be an attempt to spread fear, uncertainty, and doubt (FUD) or that the exchange has received a warning from U.S. regulators. Recently, high-profile pro-XRP attorney John Deaton accused the SEC's leadership of corruption in their dealings with Ripple Labs.
Market Analysts Watch Ripple's XRP for Potential Price Surge Against Bitcoin
Market analysts are closely monitoring Ripple's XRP for a potential surge in price against Bitcoin. Despite recent fluctuations due to a lawsuit with the US Securities and Exchange Commission, XRP's fast transaction speed and secure blockchain technology make it an attractive option. While some analysts predict a trend reversal for XRP based on current indicators on the chart, others believe the market currently projects a bearish trend. XRP's recent price performance has remained relatively stable, hovering around the $0.41 and $0.42 price levels, with a 7.25% decline in the past seven days.
XRP Community Member Claims SEC's Problems Stemmed from Attack on XRP Community
Prominent member of the XRP community, TipsyTiger, has claimed that the SEC's problems began after attacking the XRP community. TipsyTiger believes that the XRP community deserves recognition for exposing the SEC's hypocrisy and ethics violations. The comments were made in response to Rep. Warren Davidson's recent tweet calling for reforms for the SEC. TipsyTiger also asserts that the XRP community provided more evidence to back up claims against the SEC than any other community.
Finance experts predict XRP price by end of 2023 amidst ongoing legal battle with SEC
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) regarding the sale of XRP tokens is expected to be resolved in 2023. The outcome of this case is significant for both Ripple and XRP investors, as a negative ruling could result in XRP being classified as a security, leading to regulatory scrutiny and potentially affecting its price.
XRP Bucks Market Trend, Records Green Indexes While Crypto Market Witnesses Heavy Selling Pressure
On Friday, the global crypto market experienced heavy selling pressure, resulting in a 3% drop in the cumulative cap to around $1.10 trillion. However, Ripple's native crypto, XRP, managed to print green indexes, going against the market sentiments.
XRP, Avalanche, and Collateral Network: The Top Cryptocurrencies to Watch for High Returns
The cryptocurrency market is constantly evolving, and investors are always on the lookout for tokens that promise high returns. XRP, Avalanche (AVAX), and Collateral Network (COLT) are currently making waves in the crypto space. XRP is expanding in Africa, with Ripple rapidly expanding its presence in the continent. Avalanche has integrated Chainlink Functions, which will allow developers to access Chainlink's data feeds and create more innovative dApps. Collateral Network is a new project that aims to disrupt the lending industry by allowing borrowers to use physical assets as collateral to unlock liquidity. The platform has a solid base to disrupt the industry and is predicted to offer impressive returns for early investors.
Binance Discontinues Trading for XRP Leveraged Tokens Today
Binance has followed through on its plans to discontinue trading for XRP leveraged tokens, specifically XRPUP and XRPDOWN, as of May 12th. The exchange had previously announced the delisting and urged customers to trade their tokens for other assets. Any customers still holding these tokens can redeem them for USDT through the dedicated Leveraged Tokens page or wallet function. This move is part of a larger trend of Binance delisting leveraged tokens, with twenty being delisted in February and six in May. Leveraged tokens are designed to amplify gains or losses in a trade, with XRPUP multiplying returns when XRP goes up and XRPDOWN multiplying returns when XRP goes down.
