Meanwhile, a wave of organisations have come out in support of Ripple and submitted amicus curiae briefs to the court. 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. Specifically, Ripple argued, it did not meet the first rule, which requires an investment contract. Bitcoin Price Prediction - Can BTC Break The $25K Heavy Resistance Level? Mayukha Vadari, a software engineer at Ripple, recently tweeted about the new cross-chain bridge protocol and shared the link on the same. These G20 headlines and the rising Fed concerns are causing XRP to remain under pressure. In another win for Ripple in the ongoing courtroom saga against the SEC, Judge Sarah Netburn has sided with arguments put forward by the XRP legal team . This also includes Judge Torres granting it access to important documents and emails related to a 2018 speech given by William Hinman, with these documents potentially including evidence related to whether the SEC may have previously regarded XRP as not a security. Ripple (XRP) is meant to help institutions switch from central databases to more open systems and save money. Ripples XRP token has secured its name in the list of top cryptocurrencies. As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. There is a lot of money riding on it and there are several significant vested interests so whos to say. . (Bloomberg) -- Brad Garlinghouse said the US Securities and Exchange Commission's suit . This is all happening pretty much because investors are feeling good about Ripple's prospects in its two-year case with the US securities regulator. The value of XRP dropped dramatically. However, as the news broke out regarding the upcoming court ruling, XRP started to decouple from the market and climb higher. Ripple anticipates that the case will be resolved this year, nearly 15 months after it was first filed. "Judges take however long the judges will take, he said, speaking at the World Economic Forum in Davos, Switzerland. If Ripple loses the case, does anything change? . 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. Great job turning an ally into someone disgusted and totally checked out.. Ripple (XRP) lawsuit coming to an end. 1125 N. Charles St, Baltimore, MD 21201. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Reports revealed that XRP spent a lot of money on this lawsuit. 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. This affects all of us.. The lawsuit didn't exactly come out of nowhere. Past performance is no guarantee of future results. In January, he told CNBC's "Squawk Box Europe" at the World Economic . XRP Price Prediction as Ripple CEO Prepares for SEC Lawsuit Conclusion 'This Year' Can XRP Reach $10? In its submission, Coinbase said: An amicus brief from the Blockchain Association, a crypto advocacy group, was seen as another important addition to Ripples argument. 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. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Article printed from InvestorPlace Media, https://investorplace.com/2023/02/xrp-news-alert-will-ripples-sec-crypto-battle-end-today/. The lawsuit crashed the price of XRP while making the cryptocurrency holders the biggest victims in the story, meaning that the SEC has actually hurt the people that they were supposed to protect, the investors. Adding that he expected the final ruling in the Ripple lawsuit to be handed out "in the single digit months," Garlinghouse said: "We have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, its clear that XRP is not a security. On March 8, 2021, the SEC requested an urgent hearing before the judge. XRP Lawsuit Might Not End In Settlement; Here's Why. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena. Meanwhile, the court is yet to produce a Summary Judgment in the case. In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, the company behind the XRP token (XRP-USD), alleging that Ripple and its current and former chief executives had been conducting a $1.3 billion, unregistered securities offering by selling XRP, which Ripple's founders created in 2012. Specifically, the definition depends on the ruling of SEC v. W.J. In December, the SEC launched a surprise lawsuit against Ripple and two of its executives, co-founder Chris Larsen and CEO Brad Garlinghouse. This price prediction was fueled by recent developments in the XRP ecosystem and a broader surge in the cryptocurrency market. Then, on 21 November, a status conference was held between LBRY and the SEC. Past profits do not guarantee future profits. Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market. XRP/USD Price Chart - Source: Tradingview. "The SEC and [SEC chairman] Gary Gensler has very outwardly said he views almost all crypto as a security. Copyright It stands to reason that, with a clean bill of health, Ripple will be free to expand even more aggressively. So well see how it plays out from here. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Furthermore, given how rapidly Ripple is rolling out developments and network adoption, the XRP price could skyrocket to new all-time highs by the end of 2023. Despite the downbeat news coming from Silvergate, XRP holders have reason to be optimistic over the longer term. 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. Biggest Movers: XRP, ADA Rebound From 2-Month Low on Saturday, Bitcoin, Ethereum Technical Analysis: BTC Consolidates Recent Losses to Start the Weekend, Latam Countries Prepare Regional Agreement to Counter Rampant Inflation, Digital Assets Under Management 5.25% Higher in February Grayscale Still Most Dominant Player, Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin, Indias Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official, Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets, FTX Debtors Report $8.9B Shortfall in Customer Funds and Highly Commingled Assets in Latest Presentation, Avalanche Sees Surge in BTC Bridged to Its Network With Over $44 Million in Bitcoin Ported on Thursday, Bitcoins Price Drop Causes Over $200 Million in Long Liquidations Across Crypto Derivative Exchanges. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Crypto advocacy groups have also joined this list, including the Chamber of Digital Commerce and the Blockchain Association. 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). #XRPCommunity #SECGov v. #Ripple #XRP Scheduling Update as of November 4, 2022, with dates specific to the Motions for Summary Judgment (corrected). The latest to submit a brief was the Coinbase cryptocurrency exchange, which toldthe judge that Ripple did not have enough notice to comply with asset security laws. 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. Should the same waiting period apply in the XRP lawsuit, and taking into account that briefing will only end on December 20, 2022, then the XRP case could be over by March-April 2023. During an interview on Fox Business news, Ripple CEO Brad Garlinghouse shared his thoughts on the progress of the SEC vs Ripple Labs case. According to the panel, the value of XRP will reach $3.61 by the end of 2025 and $4.98 by 2030. Hundreds of XRP holders joined attorney John Deaton's class action lawsuit against the United States Securities and Exchange Commission (SEC) this weekend. 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. With that said, its clear a resolution to this case would likely be beneficial for token holders in the near term. Additionally, on or about the end of March next year, Judge Torres will rule on both the petitions for summary judgement and the experts at the same time. Ripple consented and revised dates were adopted, according to Filan. 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. This was followed by by the judge denying an SEC application to redact the names of the consulting firms that assisted its expert witnesses on 19 December 2022 as part of a series motions, which were granted, to seal court documents in connection with expert challenges. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Even though the XRP market is currently volatile, it is still a valuable asset that may be worth more in the future. However, 2023 came in with hope for Ripple, as the lawsuit is almost nearing an end, and experts believe that it could positively affect XRPs price rise. 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 . The Ripple executive quickly emphasized that in that situation, XRP would only be considered a security in the United States. Ethereum Price Prediction as $210 Million Gets Liquidated in Market Volatility Where is ETH Heading Now. Bearish scenario: Ripple loses the case, and the token gets banned worldwide - In this case, Ripple will need to find a different business model, and the price of XRP can crash to the lows of around $0.15. 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. Since the lawsuit started, XRP has been delisted from Coinbase (NASDAQ: COIN) and other U.S. exchanges. 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. One last glaring problem with the SEC's lawsuit against XRP is the basis for what an investment contract is. It is powered by the XRP native cryptocurrency, which initially launched in 2013 to raise funds for the company. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The XRP (CRYPTO:XRP) lawsuit is set to end by November. Ripples legal team received the documents on 20 October. Ripple Lawsuit: 3 Dates to Mark on Your Calendar! Nonetheless, the United States SEC Chair Gary Gensler has indicated that every cryptocurrency, except for Bitcoin, is an unregistered security. It seems highly u. The brief supported Ripples argument. Capital Com is an execution-only service provider. Copyright 2023 InvestorPlace Media, LLC. XRP Price Prediction Can XRP Reach $10 In 2023? Jeremy Hogan, a renowned lawyer within the XRP community, has given an estimate on when the long-standing SEC v. . The SEC . Ripple has also secured positive rulings in the past year, including the court upholding its right to present a fair notice defense. Polygon Price Prediction 2023, 2024, 2025: Will MATIC Price Rise In 2023. In the event of a positive outcome, Ripple will be free to continue its business. . This might then establish a legal standard that leads to the classification of other cryptos like it as securities. The dates . Ethereum Price Prediction Will ETH Break Free To Successfully Target $2k? -1.17%. Oh man that's a huge gamble for people still buying xrp. Type a symbol or company name. In turn, this would have an impact on the whole cryptocurrency industry in the United States. We don't know, because we are still waiting for the Ripple court case to finish. On the other hand, if a bullish breakout of the $0.3847 resistance level occurs could expose it toward the $0.3975 level. Breaking: Tether Investigation Reveals Use of Fraudulent Documents and Obscured Identities to Open Bank Accounts. Virtual Finance District What Is Unique About This Project And Why It Is Worth Investing Into. 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. Bitcoin.com does not provide investment, tax, legal, or accounting advice. These regulations will determine whether a cryptocurrency is a security or not and which jurisdiction it will come under - the SEC or a different authority. One Day. The XRP community is hoping that Judge Torres rules in favour of Ripple if Filan keeps to his prediction. The global crypto community is eagerly waiting for a final ending in the long running XRP lawsuit. It announced on 28 October that it was standing in support with Ripple. XRP is one of the few mega cryptocurrencies which failed to achieve a new all-time high during the 2020-2021 bull market. This New Metaverse Project Aims to Create a Virtual World Where Anyone Can Build Anything Is it Possible? Image Credits: Shutterstock, Pixabay, Wiki Commons. However, the SEC subsequently applied on 22 December 2022 to prevent the Hinman documents from being made public in the XRP lawsuit, including any references in court papers submitted by Ripple Labs. Indeed, whether XRP is successful or not will be a key determining factor with respect to the cryptos directional move. They have urged District Judge Analisa Torrest not to send the case to trial in papers. The token managed to break past the $0.50 barrier again and achieve a high of $0.54 on 9 October 2022. Meanwhile, LBRY argued that its LBC token is not a security and that the SEC did not give fair notice. Additionally, on or about the end of March next year, Judge Torres will rule on both the petitions for summary judgement and the experts at the same time. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Although XRP had major price resistance, it didnt stop the company from rolling out new technologies or making strategic partnerships. Until then, the Ripple lawsuit outcome is up in the air. In response, Ripple strongly stressed that the briefs provide an important perspective to the court on whether investors expected XRP profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per read more. Embattled cryptocurrencyXRP(XRP-USD) has seen its fair share of volatility over the past year. However, Hoskinson later clarified he was relaying rumours and not anything more concrete, meaning that this piece of XRP lawsuit news ended up being mere speculation. During the interview, Garlinghouse was asked what would happen if he does not get a ruling in his favor and XRP is deemed a security. 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. Possible lawsuit ruling. Ripple expects to have completed the lawsuit this year, nearly 15 months after it began . The lawsuit crashed the price of XRP while making the cryptocurrency . Likewise, XRP's relative strength index (purple) has sunk to just below 40 - once it reaches 30 or lower, it will have entered oversold territory, implying the profitability of buying it at a discount. A favorable outcome in the SEC case would skyrocket XRP prices to the moon. As CryptoGlobe reported, last year Hogan noted that Ripple settling its lawsuit with the SEC could lead to an XRP supply shock, which presumably would lead to a price surge as demand would remain the same, while supply plunged.The cryptocurrency community notably sees XRP's price explode upward this month, based on price predictions.. Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. It also passed the $0.45 resistance and is now making its way to the next resistance area at around $0.50. 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. January 2, 2023. . Published on January 02, 2023 00:25 GMT-08:00edited on January 02, 2023 05:39 GMT-08:00. Ripple's XRP Report for the final quarter of last year indicated that it sold another $226.3 million worth of its native token . And assuming that this is a favorable one for Ripple (i.e. 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. However, the coin has shown that it can still prosper despite all the bad press. The SEC has sued XRP and parent company Ripple in 2020 . Kristin Smith, the executive director of Blockchain Association, said in a statement: In response to these filings, the SEC filed a motion to extend the time to reply to these briefs with the new deadline proposed for 30 November 2022. XRP tracked the broader crypto through the week, with market . With increased adoption, the crypto would increase in value, and the price could reach $10. Hoskinson clarified that it was absurd to apply securities regulations to assets that have millions of international independent investors and users. Credit: cryptocoinguides.com. Both the SEC and Ripple Labs, the company behind the ripple ( 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. XRP's chart points to some positive momentum. However, there are other high-potential crypto projects in the market right now, so 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. For the first time in almost five months, XRP broke through the $0.40 level. On 18 January, Ripple CEO Brad Garlinghouse told CNBC: "Were optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. The SEC declined a request from Capital.com for a comment. 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 major market events for the week ahead right in your inbox. Following a 2.06% decline on Friday, XRP ended the day at $0.7055. Bitcoin Price and Ethereum Prediction: Choppy Sessions Continue, Will There be a Weekend Breakout? In an interview with Protocol, Alderoty explained Ripple's defense against the SEC's claims, the lawsuit's impact on the company and how this legal battle could have a serious impact on the entire crypto and blockchain . On 20 February 2023, Ripple's Chief Legal Officer, Stuart Alderoty, said that he expected his company would, ultimately, be successful again the SEC's claim that its XRP cryptocurrency was a security. In his opinion, any component of the litigation can be settled at any time. The outcome of the lawsuit will play a huge role in defining XRP's future price movement. 5 Stocks Under $49 . Ripple is a cryptocurrency network that aims to bring fast, low-cost payments to financial institutions. Several legal experts have offered potential dates for when the decision will be made. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. This lawsuit has stretched longer than anyone had anticipated. He clarified: The SEC only has jurisdiction in the United States, and in some ways How the world is operating right now is as if the case has been lost. Bitcoin Price and Ethereum Prediction: Can BTC Continue to Soar Above $24,000 and What's Next for ETH? The debate on how cryptocurrencies should be classified is big in the crypto world. He added that the business would leverage Ripples On-Demand Liquidity technology to streamline its cross-border payments. 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, the SEC asked the judge to deny these requests. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The company has denied the SEC's allegations and wants it wrapped up as quickly as possible. He told Capital.com: We will continue to fight this case so that the industry can get the regulatory clarity it desperately needs so that crypto innovation can flourish in the United States.. Charles Hoskinson, the founder of the Cardano blockchain and cryptocurrency, has shared his views on the case on Twitter. XRP Price Prediction as Ripple Lawsuit Set to Conclude in 2023 Can XRP Reach $10 if Ripple Wins the Case? 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. Elsewhere, he views the outcome as . There has been some confusion about the process. While investors wait with optimism, they are also curious to know if the crypto can reach $10 in 2023. January saw some growth, with XRP closing the month at$0.4064, before it slumped slightly to trade at around $0.3975 on 7 February 2023. This test determines whether or not an asset can be defined as a security. Former U.S. prosecutor James K. Filan continues to forecast the day Judge Torres will issue a final decision in the ripple ripple m***[emailprotected] Crypto / Blockchain SolutionPayment solution litigation. Professionals like former US congressional candidate Gokhstein believe that if Ripple scores a win, it will contribute to the massive rise of the entire cryptocurrency market. Attorney and XRP supporter John Deaton is now outlining when he thinks the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple will arrive at its long-awaited conclusion. 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. XRP is one of the first cryptos to have been asserted to be a security by the SEC. Elena is an expert in technical analysis and risk management in cryptocurrency market. While they remain confidential for now (at the SECs insistence), I can say that it was well worth the fight to get them.. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Were optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. Tailwind of legal wins propel XRP's market cap past US$70 billion as Ripple CEO and chairman ask court to drop SEC's charges against them. The technology aims to facilitate cross-chain transfers and provide blockchain interoperability between XRPL and various networks. Federal regulations and fear of inflation have been looming around the crypto market since 2022. pic.twitter.com/nU18KgrMNr. Stu Alderoty, Ripples general counsel, told Capital.com: The filings show that the SEC is acting outside their legal limits. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. A deadline of 30 November 2022 was set for Ripple and the SEC to file their replies in support of summary judgement, which were both published on 2 December. All rights reserved. 84% of retail investor accounts lose money when trading CFDs with this provider. The climb slowed slightly as investors awaited further news, but was reignited after the Hinman documents ruling. 1125 N. Charles St, Baltimore, MD 21201. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. The material provided on this website is for information purposes only and should not be understood as an investment advice. However, in December 2020, the SEC sued Ripple Labs, claiming it had raised $1.3bn by selling XRP through unregistered security transactions. He argued that XRP, like most Layer 1 protocols, does not pass the Howey Test and is not a security. 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. $15B in XRP market cap was destroyed the day the suit was filed, hurting the very people the SEC purports to protect.. Attorney John Deaton, who is representing XRP holders in the SEC Ripple lawsuit, explained what is happening behind [] The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. In my opinion, there are three possible scenarios : It will be interesting to see what happens with the lawsuit, moving forward. However, XRP holders' lawyer has dropped his prediction over what could be the . They want to remake it all in an impermissible effort to expand their jurisdiction far beyond the authority granted to them by Congress. This is a positive catalyst for XRP price as it would significantly increase the adoption rate. 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. COIN. The law is in dispute., Putting aside the fundraising that accompanied the creation of ether, based on my understanding of the present state of ether, the Ethereum network and its decentralised structure, current offers and sales of ether are not securities transactions., The ability of agency officials to debate and collaborate with openness and candor would be hampered by the public dissemination of these documents. Tax on profits may apply. Coinbase, a major crypto exchange, suspended trading in XRP. Nevertheless, Ripple has continued to focus its efforts in Asia and the Middle East while landing big contracts and collaborations with more than 100 financial institutions, banks, and other businesses worldwide. The very fact that there is an independent XRP army criticizing me is proof of this reality. 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. The glass-half-full view is that if Ripple gets past the lawsuit . Garlinghouse and Ripple Labs chair, Chris Larsen, claimed the sales were legal. 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. Despite the long ongoing legal process, no significant breakthrough has been seen until this week. 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. Some notable names include Axis Bank, Federal Bank, Canara Bank, Metrobank, and more. 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. Brad did state that he wouldnt settle unless theres clarity. Ripple is still growing very, very quickly, Garlinghouse said. However, the SEC argued in its summary judgment motion that XRP met the investment of money criterion of the Howey Test. TipRanks->. The XRP price has dropped by 3% in the past 24 hours, falling to $0.367287 as the market reels from concerns over the financial health of Silvergate Bank. Bitcoin Price Prediction Why is BTC Down and Where is the Next Support? Prior to this, the parties had filed their initial motions for summary judgment, published on 17 September 2022. Their argument was based on the so-called Howey Test, from a US court case, which determines whether an asset is a security. But considering the fact XRP surged on this tweet last night, its clear most investors are looking for relief one way or another.
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