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Ripple CLO Calls for End to 4-Year SEC Battle: XRP To Soar to $3!
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) which began in December 2020 with the arrival of Joe Biden as US president has now continued for 4 long years. Rippleās Chief Legal Officer (CLO), Stuart Alderoty, is calling for its end and urging the incoming Donald Trump administration to conclude this legal battle.
Alderotyās Request to End the āLawless Lawsuitā
The Ripple lawsuit, which began over accusations of raising $1.3 billion by selling XRP as unregistered securities, marks its fourth anniversary. Meanwhile, Alderoty took to X to demand an end to what he described as a ālawless lawsuit.ā
In July 2023, Judge Analisa Torres ruled that XRP did not violate securities laws, and other judges in the case criticized the SEC for acting āarbitrarily and capriciously,ā further damaging its reputation.
Alderoty urged the incoming administration to address the confusion caused by former SEC official William āBillā Hinman, whose statements on crypto regulations have created conflict in the industry.
Progress in Rippleās Legal Battles
Despite the ongoing challenges, Ripple has made significant strides in its legal battles. The SEC is set to file its opening brief by January 15, just before Gary Gensler steps down as SEC Chair.
Separately, a class action lawsuit against Ripple, its subsidiary XRP II, and CEO Brad Garlinghouse is nearing resolution. A district court recently ruled in Rippleās favor, and both parties have agreed to expedite the final judgment.
Impact On XRP Price
Overall the lawsuit has impacted the XRP price strongly as it plunged from its ATH of $3.38 to $0.15. Amid so many challenges, XRP price has made an almost 500% jump in the past month and now currently sitting at $2.18.
XRP stays above the 26 EMA, it could attract more buyers, pushing the price to $2.40. Increased transaction volume may confirm a recovery, with the potential for a rise to $2.60 and $3.
Ripple CLO Calls for End to 4-Year SEC Battle: XRP To Soar to $3!
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) which began in December 2020 with the arrival of Joe Biden as US president has now continued for 4 long years. Rippleās Chief Legal Officer (CLO), Stuart Alderoty, is calling for its end and urging the incoming Donald Trump administration to conclude this legal battle.
Alderotyās Request to End the āLawless Lawsuitā
The Ripple lawsuit, which began over accusations of raising $1.3 billion by selling XRP as unregistered securities, marks its fourth anniversary. Meanwhile, Alderoty took to X to demand an end to what he described as a ālawless lawsuit.ā
In July 2023, Judge Analisa Torres ruled that XRP did not violate securities laws, and other judges in the case criticized the SEC for acting āarbitrarily and capriciously,ā further damaging its reputation.
Alderoty urged the incoming administration to address the confusion caused by former SEC official William āBillā Hinman, whose statements on crypto regulations have created conflict in the industry.
Progress in Rippleās Legal Battles
Despite the ongoing challenges, Ripple has made significant strides in its legal battles. The SEC is set to file its opening brief by January 15, just before Gary Gensler steps down as SEC Chair.
Separately, a class action lawsuit against Ripple, its subsidiary XRP II, and CEO Brad Garlinghouse is nearing resolution. A district court recently ruled in Rippleās favor, and both parties have agreed to expedite the final judgment.
Impact On XRP Price
Overall the lawsuit has impacted the XRP price strongly as it plunged from its ATH of $3.38 to $0.15. Amid so many challenges, XRP price has made an almost 500% jump in the past month and now currently sitting at $2.18.
XRP stays above the 26 EMA, it could attract more buyers, pushing the price to $2.40. Increased transaction volume may confirm a recovery, with the potential for a rise to $2.60 and $3.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
XRP
2.3103
+2.36%
PEPE
0.00001925
+4.39%
SHIB
0.00002367
+5.24%
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