Join Our Telegram channel to stay up to date on breaking news coverage. March 6, 2023 | Related Reading: Popular TV Host Tears Down Crypto: Its Still A Casino. While the potential of XRP winning its case would broker well for the blockchain network, a new generation AI-powered tool allows investors to gain valuable insights on assets to buy and when to exit their positions. XRP has posted a 1.67% weekly gain but suffered a net loss of 9.78% in the last 30 days. The 6 Best ICOs For Crypto Investors in 2023. containerId: 'div-gpt-ad-1447236129660-0', Ripple Labs, the blockchain company entangled in a lawsuit with the United States Securities and Exchange Commission (SEC) over its remittance token XRP, has provided an update on the legal battle that has been ongoing for over two years. 2. All things aside, the performance of this week was a straight F, as the Bulls were unable to reclaim a vital support element. Notably, consumers are also suffering because of that, as they do not have the same protections that the United States regulatory frameworks can provide. flag bearish signals for the token, as it trades below the 50, 30, 20, and 10-day moving averages. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. , veteran trader and a staunch altcoins critic. Dogecoin (DOGE) price is in dire need of some help, although it is questionable which company Elon Musk could buy to place the Dogecoin logo on it. XRP price gears up for likely massive upswing, what to expect, Where the Ethereum price will close on Sunday night will be vital to avoid a 25% price correction in ETH, Dogecoin price rejection means trouble for next week where DOGE could tank 30%, Ripple price to crash 40% as bulls do not respect handles, Unbearable selling pressure could see Binance Coin tank between 10% and 20% next week, Bitcoin: Feds interest decision will be key to BTC directional bias. Likewise, the testimony of another SEC expert who attempted to determine the cause of changes in XRP price was also struck from the record. Visit our, Tension and speculation have increased among XRP holders as the crypto community awaits the court ruling on the SEC vs. Ripple lawsuit. Early-bird investors can snap up the asset at a current value of $0.05. But the financial watchdog has taken this approach one step further with Ripple. 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. 17 amicus briefs at the district court level. The SEC sued the San Francisco-based company and its current and former chief executives in December 2020, alleging they have been conducting a $1.3 billion. Experts in the crypto community say the SEC has approached projects like Ripple and Telegram, looking for quick settlements, avoiding long judicial proceedings. At the time of writing, XRP is auctioning for $0.51, down almost 0.5% in the last 24 hours. The Motley Fool has a disclosure policy. Cryptocurrency lawyer and XRP supporter John Deaton has given updates on when Ripples legal battle with the United States Securities and Exchange Commission (SEC) could end. However, an attorney linked to the XRP lawsuit has laid out suggestions over what could be the next legal move that the SEC can exercise. Additionally, investors are now really upbeat about Ripple Labs's likely lawsuit victory against the SEC. And Farinas latest statement aligns with these opinions. TrueUSD Market Cap Surge 120% In 4 Months After Binances Backing, Pro-XRP Lawyer Opens Up On Buying, Supporting XRP Amid Ongoing Court Battle, Ripple Vs. Zakinov Hearing: Heres How It Went Down, Ripple Launches Open Call For Web3 Financial Projects On XRP Ledger, Ripple CTO Warns Against Holding XRP In Automated Market Makers, Ripple Vs. Zakinov: Crucial Class Action Hearing Takes Place Today, Heres How Coinbase Suing The SEC Helps Ripple In Its Case. "I feel very good about where we are relative to the law and the facts, the Ripple executive said. Which companies have dividend stocks? If J. Torres affirms J. Netburn, the SEC could try an appeal or Writ of Mandamus to the 2nd Circuit to . Replies to any opposition must be filed by December 20, 2022. The speech was initially interpreted as regulatory guidance. Please read our privacy policy and legal disclaimer. Tomorrow (Wed., April 26) at 1:30pm PT (4:30pm ET) a hearing will take place in federal court in CA on the class action case filed against @Ripple (In Re Ripple Labs/Zakinov v. Ripple) from 2020 . Ripple (XRP) Price Predictions: Where Will the Ripple Lawsuit Take XRP Meanwhile, XRPs current price slightly overshadows all its moving average (MA) indicators, ranging from the 50-day MA value of $0.4694 for the short-term and the 200-day MA value of $0.4157 for the long-term. October 26, 2021 10:31 pm UTC, Rick Steves "Absent a settlement, this case will not be decided until March 2022 at the earliest and possibly not even until late spring if the court decides not to rule on some of the pending motions until after the discovery deadline, which looks really possible". Ripples XRP Sales Rose by 60% in the First Quarter of 2023, Is This the SEC Effect? The asset's 24-hour trading volume stands at over $444 million with a downtrend of 38.42% over the past 24 hours. Oppositions to any motions for summary judgment, response to Rule 56.1 Statements, and responses to motions to exclude testimony must be filed by November 2, 2022. What happens if/when XRP wins this lawsuit? : r/XRP - Reddit However, the SEC insists it was a personal opinion and "not necessarily that of the regulatory agency. I consent to my submitted data being collected and stored. Could it be the next crypto gem? Could you be next big winner? Per a Monday (Jan. 3) report from FXStreet, Hogan said there's not much of a chance of the case getting extended beyond April 2022, when it's likely to end, and these developments have caused. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. 2. It also does not guarantee that this information is of a timely nature. January 31, 2023 | Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice. XRP Ledger on-chain activity remained strong, with decentralized exchange volumes increasing 34% to $115M in Q1 2023 versus Q4 2022. The sector is vast and ever-changing with plenty of exciting opportunities for growth. }) By some estimates, XRP could rise to $5 or higher on a positive ruling in the case. According to James K. Filan, a Ripple proponent and attorney, Ripple and the SEC have agreed to an extension and in a letter to the presiding Judge Sarah Netburn, stating that: Motions for summary judgment Rule 56.1 Statements and motions to exclude expert testimony must be filed by August 2, 2022. Ripple proponent attorney John Deaton informed the community of XRP holders that there is a hearing of a class action lawsuit against the payment giant in Federal Court today. The breathtaking case between the United States Securities Exchange Commission (SEC) and payments firm Ripple over the XRP cryptocurrency is finally nearing its end, according to attorney Jeremy Hogan. There is no deadline of today for her to rule. However, it picked up the bullish streak in its 90 days chart with its token price up 16.06% and its year-to-date (YTD) figure standing at 41.61%. In August, the trial proper will begin, assuming the parties dont reach a pre-trial settlement before that time. The author will not be held responsible for information that is found at the end of links posted on this page. However, the altcoin has survived the aftermath of the litigation being brought against its largest public holder. Ripple Lawsuit: 3 Dates to Mark on Your Calendar! Bitcoin Price & Ethereum Forecast: BTC and ETH See Modest 0.5% Shift - Is a Breakout on the Horizon? Attorney and XRP supporter John Deaton is optimistic that Coinbase will prevail in its lawsuit against the U.S. Securities and Exchange Commission (SEC).. Deaton tells his 262,100 Twitter followers that the US crypto exchange will emerge victorious in the lawsuit seeking to compel the SEC to disclose whether it has accepted or denied a petition that Coinbase filed in 2022. Financial markets are usually dubbed unpredictable due to a significant volume of trades being carried out through very sophisticated algorithms constantly changing the price structure dynamics. Popular TV Host Tears Down Crypto: Its Still A Casino. By using this website you agree to our terms and conditions and privacy policy. Most crypto analysts and influencers believe the lawsuit slowed XRP's growth and obstructed its potential. Trading is expected to start with a price of around $0.43. Follow The SEC claimed that Ripple failed to register transactions in XRP as "investment contracts" as required by Section 5 of the Securities Act. Deaton went on to explain that the final proofreading could be ongoing or that the Judge could be in the proofreading stage. Learn More. The most popular legal case is Ripple Labs and the US Securities and Exchange Commission (SEC). On the Flipside The current price of XRP reflects the ongoing legal action and news about the progress of the trial. The lawsuit does have components similar to the SECs litigation against Ripple, therefore the judges ruling on whether Ripple should be prosecuted for its sales, primary and secondary, of the (Security or Non-security) XRP tokens would influence the assets price and the sentiment of its holders. window.yaContextCb.push(() => { It all depends on what happens in the legal actions Ripple Labs is involved in. There is no specific date here, but it is the month when one legal commentator speculated that the suit may be settled. Because of the complexities and nuances involved, the SEC's case has been interminable, with memo after memo, briefing after briefing, and the goalposts always seem to be moving. If it does go to trial, then it is likely to conclude within a few weeks to a few months of the August 26 start date. He clarified that only motions that have been pending more than 6 months must be reported on a list to Congress. }.tweet-container div:last-child{ It is expected that a summary judgment in the XRP lawsuit . XRP News: Ripple's New Prediction On End Date Of SEC Lawsuit FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Boost Your Income With This 1 Reliable Stock, 1 Canadian Artificial Intelligence Stock Id Actually Consider Buying. The U.S. Securities and Exchange Commission sued Ripple, Garlinghouse, and co-founder Chris Larsen in December 2020 over the sale of XRP, which the securities watchdog said is an unregistered security offering.