XRP Lawyer Bids In For Coinbase Referring His XRP Case Filing
Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in an attempt to gain regulatory clarity for digital assets. XRP holders' lawyer in the Ripple lawsuit, John Deaton, showed support for Coinbase by referring to his own filings against the SEC. Deaton highlighted the Coinbase petition as his first writ of Mandamus was also against the SEC, and stated that this is the second writ of Mandamus filed which involves crypto. In his own lawsuit, Deaton sued the commission asking a court to order the SEC to perform its job, and asked the judge to amend Ripple's complaint to just include direct sales done by them.
Expert Claims Selling XRP Before SEC Lawsuit Ends is the Worst Possible Move
Edoardo Farina, CEO of Alpha Lions Academy and Head of Social Adoption at XRP Healthcare, has advised against selling XRP before the conclusion of the ongoing lawsuit between the US SEC and Ripple, stating that it would be the most ill-advised decision for any investor to make. Many in the XRP community believe that the ongoing lawsuit has hindered the asset's potential and that XRP has the potential to experience a significant surge in value once the legal case comes to a favorable resolution. BitBoy, a prominent figure in the crypto space, named XRP as his top altcoin pick for the next bull run, stating that the asset's potential has been constrained by the ongoing legal case. XRP recently achieved new highs during its latest rally, which was partly driven by heightened demand stemming from speculations that the SEC lawsuit was approaching its conclusion.
Ripple and Whales Move 350M+ XRP As Price Drops Below $0.46
Ripple has moved 120 million XRP tokens in two separate transactions, with the assets eventually sent to several exchanges. The first transaction involved the transfer of 50 million XRP to another address owned by Ripple, which then transferred 70 million XRP to another Ripple-affiliated wallet before being sent to Bitso, Bitstamp and Independent Reserve. In addition to Ripple's movements, other whale addresses cumulatively moved over 230 million XRP tokens in five separate transactions. These transactions come at a time when XRP is struggling to hold above the $0.46 price territory amid a fierce battle with the bears.
XRP Community Celebrates As It Gets Major Support Against the SEC
Coinbase has filed a lawsuit against the SEC in the US Circuit Court, seeking to compel the securities regulatory agency to respond to a rulemaking petition filed last July, asking for regulatory guidance for the crypto industry. The move has been celebrated by members of the XRP community, with supporters of the cryptocurrency taking to Twitter to back Coinbase's decision to pressure the SEC via the lawsuit. However, some critics, such as CryptoBull, have called out Coinbase for de-listing XRP and not supporting Ripple in its legal battle against the SEC. Nevertheless, attorney Jeremy Hogan believes that many XRP supporters no longer consider Coinbase an enemy.
Crypto Whales Buy XRP Dip; Moves 180 Mln XRP
Ripple’s native crypto, XRP is trading under increased selling pressure losing its gain registered over the past week. XRP price is down by more than 11% in the last 7 days. However, this dip has allowed the crypto whales to add accumulate more XRP tokens.
Ripple CTO David Schwartz Clarifies XRP Prefunding Strategy Amid Debates
Ripple CTO David Schwartz has clarified the company's prefunding strategy for XRP, explaining that customers can prefund in just one account and make payments to any On-Demand Liquidity (ODL) destination market. He also highlighted the flexibility of Ripple's system, stating that customers can hold their funds in their preferred asset and pay in a different one. Schwartz confirmed that Ripple can prefund accounts using their own XRP at very near zero cost, but the company does take on some credit risk and must charge for that accordingly. There is a non-zero risk that the customer will not pay the company back for the XRP, particularly if a customer's funds are held in a bank that fails or goes bankrupt for some reason.
XRP Healthcare Teams with FasterCapital to Fund African Acquisition Plans
XRP Healthcare Africa, a subsidiary of XRP Healthcare, has partnered with FasterCapital, a venture capital enterprise overseen by the esteemed financial guru Hesham Zreik, to source capital for the procurement of private medical institutions spanning the African continent.
