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Analyst: Emergence of Bullish Cross On ASO Sets XRP For 23,238% Rally to $144. Here’s the Timeline
EGRAG CRYPTO, a respected market analyst, has drawn the XRP community’s attention to an intriguing development on the XRP Average Sentiment Oscillator (ASO). This development hints at the likelihood of a significant price rally over the next 275 days.
The Average Sentiment Oscillator is a market indicator that tracks the collective sentiment of market participants by calculating the average percentages of bullish and bearish sentiments.
This indicator consists of two lines: a blue line representing bullish sentiment and a red line representing bearish sentiment. The line with the higher value indicates the prevailing market sentiment.
XRP’s ASO Indicator History
EGRAG CRYPTO has long recognized the ASO’s potency in forecasting XRP’s price movements, with its initial report dating back to February 25. In that report, he unearthed two distinct instances where the ASO indicator precisely foreshadowed XRP’s price surges and declines through bullish and bearish crosses.
The bullish cross forms when the blue line rises above the red line, and a bearish cross forms when the red line goes above the blue. XRP experienced a bullish cross in March 2017 while trading between $0.00525 to $0.02254. Following this cross, XRP embarked on an astonishing rally, ultimately reaching its all-time high.
XRP experienced a bearish cross in September 2018, which caused a drop to $0.1747 in December 2019. Another bullish cross followed less than 2 years later, propelling XRP to $1.96 in April 2021. XRP was pushed back down in May after a bearish cross.
XRP’s Bullish Cross
EGRAG CRYPTO’s latest update from November 3 shows that the gap has closed. He stated, “I’ve been eagerly awaiting the #Bullish crossover of the ASO (Average Sentiment Oscillator) since February 2023. And guess what? It’s finally here!”
He pointed out that, historically, it has taken around 275 days, equivalent to nine months, for XRP to reach the top of its bull run after each bullish cross. He wrote, “If this pattern holds, the next 7-10 months could be filled with some spectacular fireworks!”
EGRAG CRYPTO did not provide a target in this prediction, but this update is a confirmation of an August update, backed by the ASO technical analysis, which had a target of $144. Considering the current price of XRP standing at $0.61, the target price would represent a 23,238% rally.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #xrp $XRP
The Average Sentiment Oscillator is a market indicator that tracks the collective sentiment of market participants by calculating the average percentages of bullish and bearish sentiments.
This indicator consists of two lines: a blue line representing bullish sentiment and a red line representing bearish sentiment. The line with the higher value indicates the prevailing market sentiment.
XRP’s ASO Indicator History
EGRAG CRYPTO has long recognized the ASO’s potency in forecasting XRP’s price movements, with its initial report dating back to February 25. In that report, he unearthed two distinct instances where the ASO indicator precisely foreshadowed XRP’s price surges and declines through bullish and bearish crosses.
The bullish cross forms when the blue line rises above the red line, and a bearish cross forms when the red line goes above the blue. XRP experienced a bullish cross in March 2017 while trading between $0.00525 to $0.02254. Following this cross, XRP embarked on an astonishing rally, ultimately reaching its all-time high.
XRP experienced a bearish cross in September 2018, which caused a drop to $0.1747 in December 2019. Another bullish cross followed less than 2 years later, propelling XRP to $1.96 in April 2021. XRP was pushed back down in May after a bearish cross.
XRP’s Bullish Cross
EGRAG CRYPTO’s latest update from November 3 shows that the gap has closed. He stated, “I’ve been eagerly awaiting the #Bullish crossover of the ASO (Average Sentiment Oscillator) since February 2023. And guess what? It’s finally here!”
He pointed out that, historically, it has taken around 275 days, equivalent to nine months, for XRP to reach the top of its bull run after each bullish cross. He wrote, “If this pattern holds, the next 7-10 months could be filled with some spectacular fireworks!”
EGRAG CRYPTO did not provide a target in this prediction, but this update is a confirmation of an August update, backed by the ASO technical analysis, which had a target of $144. Considering the current price of XRP standing at $0.61, the target price would represent a 23,238% rally.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #xrp $XRP
#Ripple's audit and contract sparks legal firestorm and now it looks like ripple vs #SEC ….let’s wait what’s next because ripple argues that SEC had initially deemed post complaint conduct as irrelevant to the case which is filed.
*Hope this year is good for $BTC $ETH $BNB *
*Hope this year is good for $BTC $ETH $BNB *
XRP Price Seeks a New Bullish Catalyst to Propel Above $1? 🧐
#XRP 's price surged over 100% after #Ripple's legal win, but the fundamentals don't fully support a move to $1 and beyond.
While trading interest increased, network usage data showed limited new participation. Ripple's efforts for adoption and investment in a metaverse project could help.
Technical resistance levels need to be surpassed for a stronger bullish sentiment. The high futures open interest and positive funding rate suggest potential volatility and liquidation targets.
Positive regulatory developments and retail popularity might end the long-term negative trend in the next few weeks, but market dynamics and adoption progress will be crucial.
#Binance
#BullishFlag
#crypto2023
#XRP 's price surged over 100% after #Ripple's legal win, but the fundamentals don't fully support a move to $1 and beyond.
While trading interest increased, network usage data showed limited new participation. Ripple's efforts for adoption and investment in a metaverse project could help.
Technical resistance levels need to be surpassed for a stronger bullish sentiment. The high futures open interest and positive funding rate suggest potential volatility and liquidation targets.
Positive regulatory developments and retail popularity might end the long-term negative trend in the next few weeks, but market dynamics and adoption progress will be crucial.
#Binance
#BullishFlag
#crypto2023
#Write2Earn SEC v. Ripple: Crucial Request Filed by Defendants
Ripple Labs has filed for a deadline extension for remedies-related discovery in the SEC lawsuit
Contents
Strapped for time
The SEC's legal win
In the latest development of the SEC's lawsuit against Ripple Labs, the blockchain company has officially requested a brief, one-week extension for the deadline for remedies-related discovery, according to a document filed with the United States District Court for the Southern District of New York.
Ripple's counsel submitted the letter on Feb. 6, seeking to move the deadline from Feb. 12 to Feb. 20, 2024.
Strapped for time
The extension request is said to be in response to the #SEC's request for post-complaint contracts and financial statements from 2022 and 2023, which Ripple intends to fulfill.
In the formal letter to Judge Analisa Torres, #Ripple's legal team argued that "absent a brief extension of the current deadline, Ripple would have just one week in which to produce responses to discovery requests that seek a large volume of documents and cover the entire post-complaint period."
The request for extension is notable as it comes with the SEC's consent.
A short extension of eight days will give Ripple sufficient time to collect and produce the requested documents," Ripple's counsel added.
The SEC's legal win
Before Ripple's request for more time, the SEC celebrated a legal triumph with Magistrate Judge Sarah Netburn's decision to compel Ripple to provide the requested discovery.
This decision overrules Ripple's procedural objections and requires the company to provide detailed financial statements for the years 2022 and 2023 as well as contracts and information concerning the proceeds from institutional $XRP sales post-complaint.#TrendingTopic #TradeNTell
Ripple Labs has filed for a deadline extension for remedies-related discovery in the SEC lawsuit
Contents
Strapped for time
The SEC's legal win
In the latest development of the SEC's lawsuit against Ripple Labs, the blockchain company has officially requested a brief, one-week extension for the deadline for remedies-related discovery, according to a document filed with the United States District Court for the Southern District of New York.
Ripple's counsel submitted the letter on Feb. 6, seeking to move the deadline from Feb. 12 to Feb. 20, 2024.
Strapped for time
The extension request is said to be in response to the #SEC's request for post-complaint contracts and financial statements from 2022 and 2023, which Ripple intends to fulfill.
In the formal letter to Judge Analisa Torres, #Ripple's legal team argued that "absent a brief extension of the current deadline, Ripple would have just one week in which to produce responses to discovery requests that seek a large volume of documents and cover the entire post-complaint period."
The request for extension is notable as it comes with the SEC's consent.
A short extension of eight days will give Ripple sufficient time to collect and produce the requested documents," Ripple's counsel added.
The SEC's legal win
Before Ripple's request for more time, the SEC celebrated a legal triumph with Magistrate Judge Sarah Netburn's decision to compel Ripple to provide the requested discovery.
This decision overrules Ripple's procedural objections and requires the company to provide detailed financial statements for the years 2022 and 2023 as well as contracts and information concerning the proceeds from institutional $XRP sales post-complaint.#TrendingTopic #TradeNTell
Expert Says XRP Is A Better Investment Instrument Than Amazon, Apple, and Netflix
Renowned crypto expert Panos Mekras has recently shared his perspective on the investment potential of XRP, drawing an intriguing comparison to the stocks of prominent companies in the technology sector, including Amazon, Apple, and Netflix.
Mekras argues that XRP presents a more extensive investment outlook than the stocks of these FAANG companies, pointing to a recent tweet by stock investor Brian Feroldi to support his claim.
XRP: A Lucrative Investment Opportunity
In his tweet, Feroldi emphasized that latecomers to the stock market still have ample opportunity to make substantial gains. He cited examples of successful investments in Apple, Amazon, and Netflix made five years after pivotal milestones in their development.
Feroldi concluded his tweet by highlighting that being late to the party might not be as detrimental as commonly assumed, stating, “You can be ‘late’ and still win big.”
Mekras acknowledges Feroldi’s perspective and extends it to the realm of cryptocurrencies. He believes that the crypto space offers similar opportunities for latecomers but with even greater potential and a plethora of innovative projects.
Mekras emphasizes the vast possibilities within the crypto sphere, remarking, “It’s the same with crypto but with a much bigger potential and more opportunities. So many great projects, so much innovation.”
XRP and Avalanche: Blue-Chip Crypto Projects
Among the numerous crypto assets, Mekras singles out XRP and Avalanche (AVAX) as top-tier layer-one projects, akin to blue-chip assets in the cryptocurrency market. This distinction underscores the prominence and reliability of these cryptocurrencies, making them attractive investment options for those seeking long-term growth.
Mekras’s comments challenge the conventional notion that entering the market at a later stage hampers the potential for substantial gains. His perspective highlights the growing potential of cryptocurrencies as an investment asset class.
While cryptocurrencies were once viewed primarily as speculative investments, the maturation of the technology and its increasing adoption by institutional investors have propelled them into the mainstream.
Moreover, Mekras suggests that XRP, with its scalability and potential for widespread adoption, is well-positioned to benefit from this trend. As a result, XRP may emerge as one of the preferred cryptocurrencies for institutional investors seeking exposure to the crypto market.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #XRPInvesting $XRP
Mekras argues that XRP presents a more extensive investment outlook than the stocks of these FAANG companies, pointing to a recent tweet by stock investor Brian Feroldi to support his claim.
XRP: A Lucrative Investment Opportunity
In his tweet, Feroldi emphasized that latecomers to the stock market still have ample opportunity to make substantial gains. He cited examples of successful investments in Apple, Amazon, and Netflix made five years after pivotal milestones in their development.
Feroldi concluded his tweet by highlighting that being late to the party might not be as detrimental as commonly assumed, stating, “You can be ‘late’ and still win big.”
Mekras acknowledges Feroldi’s perspective and extends it to the realm of cryptocurrencies. He believes that the crypto space offers similar opportunities for latecomers but with even greater potential and a plethora of innovative projects.
Mekras emphasizes the vast possibilities within the crypto sphere, remarking, “It’s the same with crypto but with a much bigger potential and more opportunities. So many great projects, so much innovation.”
XRP and Avalanche: Blue-Chip Crypto Projects
Among the numerous crypto assets, Mekras singles out XRP and Avalanche (AVAX) as top-tier layer-one projects, akin to blue-chip assets in the cryptocurrency market. This distinction underscores the prominence and reliability of these cryptocurrencies, making them attractive investment options for those seeking long-term growth.
Mekras’s comments challenge the conventional notion that entering the market at a later stage hampers the potential for substantial gains. His perspective highlights the growing potential of cryptocurrencies as an investment asset class.
While cryptocurrencies were once viewed primarily as speculative investments, the maturation of the technology and its increasing adoption by institutional investors have propelled them into the mainstream.
Moreover, Mekras suggests that XRP, with its scalability and potential for widespread adoption, is well-positioned to benefit from this trend. As a result, XRP may emerge as one of the preferred cryptocurrencies for institutional investors seeking exposure to the crypto market.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #XRPInvesting $XRP
6 Times The SEC Lost In Court😮🇺🇲📍
How many times has the sec United States lost a case?
The SEC United States has lost 4 of its last 5 cases in the Supreme Court. This information was tweeted by #Ripple's Labs CEO Brad Garlinghouse in December 2022. The cases that the SEC lost were:
Salomon v. Securities and Exchange Commission (1987)
Free Speech Coalition v. Reno (1998)
MedImmune v. Genentech (2007)
2017, the SEC lost a case against Tesla CEO Elon Musk, who was accused of misleading investors about the company's production goals.
Liu v. Securities and Exchange Commission (2022)
Securities and Exchange Commission v. Ripple Labs Inc. (2023)
The SEC has also lost a number of cases in lower courts, but it is difficult to track the exact number. However, it is clear that the SEC has a losing record in some of the most important cases that it has brought.
The SEC's recent losses in the Supreme Court have been attributed to a number of factors, including the court's changing composition and the SEC's own legal strategy. The court has become more conservative in recent years, and this has made it more difficult for the SEC to win cases. Additionally, the SEC has been criticized for its aggressive legal tactics, which have sometimes backfired.
The SEC's losing record is a sign that the agency is facing challenges. However, it is important to note that the SEC has also won a number of important cases. The agency's overall record is still positive, but it is clear that the SEC needs to be more careful in the future if it wants to avoid further losses.
What is the SEC?
The SEC stands for Securities and Exchange Commission. It is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.
The SEC has three main goals:
Protect investors: The SEC ensures that investors have access to accurate information about securities and that they are not misled by fraudsters.
Maintain fair and orderly markets: The SEC works to ensure that securities markets are fair and orderly, and that investors have a level playing field.
Facilitate capital formation: The SEC helps to ensure that companies have access to capital, which is essential for economic growth.
The SEC has a wide range of powers, including the ability to:
Register securities: All securities offered for sale to the public in the United States must be registered with the SEC.
Prohibit fraud: The SEC can bring civil and criminal actions against those who commit fraud in the securities markets.
Set rules: The SEC sets rules governing the conduct of securities firms, brokers, and dealers.
Investigate complaints: The SEC investigates complaints from investors and takes action against those who violate the law.
The SEC is a powerful agency with a wide range of responsibilities. It plays a vital role in protecting investors and ensuring that the securities markets are fair and orderly.
The #SEC was created by the Securities Act of 1933 and the Securities Exchange Act of 1934.
The SEC is headquartered in Washington, D.C.
The SEC has a staff of over 4,000 employees.
The SEC's budget is over $2 billion.
Summary:
Despite the SEC's role and influence, it is good to note that they are not immune to losing cases. As with the #Binance U.S lawsuits and recent developments of "no proofs against Binance exchange", we should be expecting a case dismissal soon.
The whole #crypto2023 industry has eyes on this case and it's probably one of the biggest they've ever encountered.
More details soon...
Let's hear your thoughts below 👇
What's your prediction for the crypto lawsuits?
Follow us 📍
Like and Share Post 📍
Comment Below 📍
Cheers 🥂
Disclaimer:
The above post is only for #educational purposes only. Also, we do not offer financial advice, please always do your own research before Investing in any cryptocurrency. 🙏📈📉
The SEC United States has lost 4 of its last 5 cases in the Supreme Court. This information was tweeted by #Ripple's Labs CEO Brad Garlinghouse in December 2022. The cases that the SEC lost were:
Salomon v. Securities and Exchange Commission (1987)
Free Speech Coalition v. Reno (1998)
MedImmune v. Genentech (2007)
2017, the SEC lost a case against Tesla CEO Elon Musk, who was accused of misleading investors about the company's production goals.
Liu v. Securities and Exchange Commission (2022)
Securities and Exchange Commission v. Ripple Labs Inc. (2023)
The SEC has also lost a number of cases in lower courts, but it is difficult to track the exact number. However, it is clear that the SEC has a losing record in some of the most important cases that it has brought.
The SEC's recent losses in the Supreme Court have been attributed to a number of factors, including the court's changing composition and the SEC's own legal strategy. The court has become more conservative in recent years, and this has made it more difficult for the SEC to win cases. Additionally, the SEC has been criticized for its aggressive legal tactics, which have sometimes backfired.
The SEC's losing record is a sign that the agency is facing challenges. However, it is important to note that the SEC has also won a number of important cases. The agency's overall record is still positive, but it is clear that the SEC needs to be more careful in the future if it wants to avoid further losses.
What is the SEC?
The SEC stands for Securities and Exchange Commission. It is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.
The SEC has three main goals:
Protect investors: The SEC ensures that investors have access to accurate information about securities and that they are not misled by fraudsters.
Maintain fair and orderly markets: The SEC works to ensure that securities markets are fair and orderly, and that investors have a level playing field.
Facilitate capital formation: The SEC helps to ensure that companies have access to capital, which is essential for economic growth.
The SEC has a wide range of powers, including the ability to:
Register securities: All securities offered for sale to the public in the United States must be registered with the SEC.
Prohibit fraud: The SEC can bring civil and criminal actions against those who commit fraud in the securities markets.
Set rules: The SEC sets rules governing the conduct of securities firms, brokers, and dealers.
Investigate complaints: The SEC investigates complaints from investors and takes action against those who violate the law.
The SEC is a powerful agency with a wide range of responsibilities. It plays a vital role in protecting investors and ensuring that the securities markets are fair and orderly.
The #SEC was created by the Securities Act of 1933 and the Securities Exchange Act of 1934.
The SEC is headquartered in Washington, D.C.
The SEC has a staff of over 4,000 employees.
The SEC's budget is over $2 billion.
Summary:
Despite the SEC's role and influence, it is good to note that they are not immune to losing cases. As with the #Binance U.S lawsuits and recent developments of "no proofs against Binance exchange", we should be expecting a case dismissal soon.
The whole #crypto2023 industry has eyes on this case and it's probably one of the biggest they've ever encountered.
More details soon...
Let's hear your thoughts below 👇
What's your prediction for the crypto lawsuits?
Follow us 📍
Like and Share Post 📍
Comment Below 📍
Cheers 🥂
Disclaimer:
The above post is only for #educational purposes only. Also, we do not offer financial advice, please always do your own research before Investing in any cryptocurrency. 🙏📈📉
#Ripple's CEO Brad Garlinghouse has recently criticized the US Securities and Exchange Commission (SEC) for taking the company’s transparency reports on XRP and using them as evidence against them. In December 2020, the SEC sued Ripple and its executives for allegedly making XRP sales as securities contracts. However, a court ruling recently declared #XRP not a security.
Garlinghouse expressed his disappointment in the #SEC’s actions, commenting that “we started these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit – however, we remain steadfast in our commitment to transparency but I suspect they’re going to look a bit different moving forward.”
Garlinghouse expressed his disappointment in the #SEC’s actions, commenting that “we started these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit – however, we remain steadfast in our commitment to transparency but I suspect they’re going to look a bit different moving forward.”
A pivotal point has been reached in the #Ripple-SEC legal dispute.
Uncertainty has been bred by swirling rumours and contradictory assertions.
The #SEC's actions have been contested by #Ripple's chief legal officer.
The resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) is eagerly anticipated by #cryptocurrency aficionados. Rumours and negative predictions are rampant as the conclusion draws near, which makes it difficult to determine the SEC's leadership position.
Uncertainty has been bred by swirling rumours and contradictory assertions.
The #SEC's actions have been contested by #Ripple's chief legal officer.
The resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) is eagerly anticipated by #cryptocurrency aficionados. Rumours and negative predictions are rampant as the conclusion draws near, which makes it difficult to determine the SEC's leadership position.
1. **#Ripple's Response to #SEC Actions:** Ripple's Chief Legal Officer, Stuart Alderoty, addressed recent SEC actions, asserting that the SEC currently lacks the right to appeal. The company has sought permission for an intermediate #appeal in response to the SEC's request for an interlocutory appeal.
2. **SEC's Appeal Request and Timeline:** The SEC submitted a letter to Judge Analisa Torres, seeking an interlocutory appeal against certain liability rulings in the #Ripple Labs case. Ripple is expected to file its response by August 16, while the SEC plans to submit a briefing by August 18. Alderoty's statement highlights the ongoing legal dynamics of the #case.
$XRP
2. **SEC's Appeal Request and Timeline:** The SEC submitted a letter to Judge Analisa Torres, seeking an interlocutory appeal against certain liability rulings in the #Ripple Labs case. Ripple is expected to file its response by August 16, while the SEC plans to submit a briefing by August 18. Alderoty's statement highlights the ongoing legal dynamics of the #case.
$XRP
Watch out for strong selling in this digital currency.
_#Ripple is the largest holder of XRP, which includes 46.43 billion XRP held in escrow and not yet factored into the circulating supply. On the first of November. Ripple released 1 billion tokens ($610 million) out of 46 billion. Every month, the remaining billion tokens under #Ripple's control are unlocked. However, the company typically keeps only a small share of monthly opens – allocated to its treasury – which is largely oversold in the market. We monitor the public ledger by scanning XRP and reporting #Ripple opens. So far we have identified some patterns in XRP supply inflation. This directly affects the value of digital assets in the long term. As evidenced by the lower price #XRP would trade if it reached its all-time high market value.
$XRP
#follow To see more news and details about digital currencies.
_#Ripple is the largest holder of XRP, which includes 46.43 billion XRP held in escrow and not yet factored into the circulating supply. On the first of November. Ripple released 1 billion tokens ($610 million) out of 46 billion. Every month, the remaining billion tokens under #Ripple's control are unlocked. However, the company typically keeps only a small share of monthly opens – allocated to its treasury – which is largely oversold in the market. We monitor the public ledger by scanning XRP and reporting #Ripple opens. So far we have identified some patterns in XRP supply inflation. This directly affects the value of digital assets in the long term. As evidenced by the lower price #XRP would trade if it reached its all-time high market value.
$XRP
#follow To see more news and details about digital currencies.
#Ripple fell 12% in bearish trading amid strong selling.
_#Ripple was trading in the $ pair at a price of 0.62437 at 23:07 (20:07 GMT) on the #Investing.com.Index platform during Tuesday, declining 12.34% on the daily level. To record the highest decline rate since. The downward movement also pushed #Ripple's market value to drop to $33.37650B, or 2.47% of the total market value of the virtual currency market. The highest market value for Ripple was $83.44071B.
$XRP
#Follow_Me To see more news and details about digital currencies ✅💯⬇️💵🚀
_#Ripple was trading in the $ pair at a price of 0.62437 at 23:07 (20:07 GMT) on the #Investing.com.Index platform during Tuesday, declining 12.34% on the daily level. To record the highest decline rate since. The downward movement also pushed #Ripple's market value to drop to $33.37650B, or 2.47% of the total market value of the virtual currency market. The highest market value for Ripple was $83.44071B.
$XRP
#Follow_Me To see more news and details about digital currencies ✅💯⬇️💵🚀
#BullRun Ripple Likely to Trim $770 Million SEC Fine, Expert Says
Ripple is likely to manage to significantly reduce the potential $770 million fine imposed by the SEC, according to legal expert Jeremy Hogan. This would make yet another win for the embattled company.
Hogan's most recent take
In his thread on the X social media platform, Hogan stressed the key arguments that Ripple could use to lower the damages sought by the SEC.
These arguments are based on recent case law and the specific circumstances of #Ripple's XRP sales.
Hogan points out that the "disgorgement" sought by the SEC, which is the recovery of profits made from the alleged wrongdoing, should be based on Ripple's net profits, not the gross amount. This distinction is crucial as it allows Ripple to deduct business expenses, potentially slashing the sum significantly.
Moreover, Hogan emphasizes that only sales with a U.S. nexus fall under the SEC's jurisdiction, introducing a "nexus" question that could further limit the scope of any financial penalty.
A significant court decision
Previously, Ripple celebrated a court decision that could tilt the legal battle in its favor. Ripple's chief lawyer, Stuart Alderoty, hailed the 2nd Circuit's ruling in SEC v. Govil, noting that the SEC must prove investors suffered actual financial harm before demanding significant disgorgement.
This view, which is supported by Hogan, suggests that Ripple's liability may depend on whether XRP investors have incurred losses.
Prior to that, the regulator moved to dismiss its charges against Brad Garlinghouse and Chris Larsen, the top Ripple executives. Alderoty hailed the SEC's decision to drop all charges against Ripple executives as a "surrender."#MagicEden #XMR #Ledger
Ripple is likely to manage to significantly reduce the potential $770 million fine imposed by the SEC, according to legal expert Jeremy Hogan. This would make yet another win for the embattled company.
Hogan's most recent take
In his thread on the X social media platform, Hogan stressed the key arguments that Ripple could use to lower the damages sought by the SEC.
These arguments are based on recent case law and the specific circumstances of #Ripple's XRP sales.
Hogan points out that the "disgorgement" sought by the SEC, which is the recovery of profits made from the alleged wrongdoing, should be based on Ripple's net profits, not the gross amount. This distinction is crucial as it allows Ripple to deduct business expenses, potentially slashing the sum significantly.
Moreover, Hogan emphasizes that only sales with a U.S. nexus fall under the SEC's jurisdiction, introducing a "nexus" question that could further limit the scope of any financial penalty.
A significant court decision
Previously, Ripple celebrated a court decision that could tilt the legal battle in its favor. Ripple's chief lawyer, Stuart Alderoty, hailed the 2nd Circuit's ruling in SEC v. Govil, noting that the SEC must prove investors suffered actual financial harm before demanding significant disgorgement.
This view, which is supported by Hogan, suggests that Ripple's liability may depend on whether XRP investors have incurred losses.
Prior to that, the regulator moved to dismiss its charges against Brad Garlinghouse and Chris Larsen, the top Ripple executives. Alderoty hailed the SEC's decision to drop all charges against Ripple executives as a "surrender."#MagicEden #XMR #Ledger
#Ripple's XRP lawyer will make a big announcement coming this week Here are the details.
#_JohnDeaton , a lawyer representing more than 75,000 Ripple holders in the lawsuit filed against Ripple by the US Securities and Exchange Commission #SEC , revealed. He's about to make a big announcement soon. It's not even clear if this announcement is related to the Ripple lawsuit. Not a new lawsuit Attorney Deaton clarified that the announcement will not be about suing someone, so . The announcement could be entirely about revealing current lawsuits related to cryptocurrencies. In recent weeks. The SEC's lawsuit against Binance made news as the agency charged that the #cryptocurrency trading platform did not cooperate in submitting documents. “If all goes well, I'll have a big announcement this Friday (and no, I'm not suing anyone – yet)!
#follow To see more news and details about digital currencies 🚀
$XRP
#_JohnDeaton , a lawyer representing more than 75,000 Ripple holders in the lawsuit filed against Ripple by the US Securities and Exchange Commission #SEC , revealed. He's about to make a big announcement soon. It's not even clear if this announcement is related to the Ripple lawsuit. Not a new lawsuit Attorney Deaton clarified that the announcement will not be about suing someone, so . The announcement could be entirely about revealing current lawsuits related to cryptocurrencies. In recent weeks. The SEC's lawsuit against Binance made news as the agency charged that the #cryptocurrency trading platform did not cooperate in submitting documents. “If all goes well, I'll have a big announcement this Friday (and no, I'm not suing anyone – yet)!
#follow To see more news and details about digital currencies 🚀
$XRP
What fact behind cypto xrp ? 😱
· #xrp ,the digital currency 💰 powering Ripple's blockchain, aims👩✈️ to revolutionize cross-border payments."
· "Investors often see XRP as a bridge between traditional banking🏦 systems and the world 🌎 of crypto currency
· xrp consensus algorithm, known as the Ripple Protocol Consensus Algorithm (RPCA), sets it apart from other #crypto currencies."🪙🪙
· #Ripple's focus on partnerships with financial💵 institutions has contributed to XRP's position in the cryptocurrency💲💲 market."
· "XRP enthusiasts appreciate its speed and low transaction costs, making it attractive for international money transfers."
#Write2Earn #BinanceSqaure
· #xrp ,the digital currency 💰 powering Ripple's blockchain, aims👩✈️ to revolutionize cross-border payments."
· "Investors often see XRP as a bridge between traditional banking🏦 systems and the world 🌎 of crypto currency
· xrp consensus algorithm, known as the Ripple Protocol Consensus Algorithm (RPCA), sets it apart from other #crypto currencies."🪙🪙
· #Ripple's focus on partnerships with financial💵 institutions has contributed to XRP's position in the cryptocurrency💲💲 market."
· "XRP enthusiasts appreciate its speed and low transaction costs, making it attractive for international money transfers."
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Crypto Daily Roundup: Franklin Templeton Files for Spot Bitcoin ETF
Crypto News Key Highlights:
Karl Sebastian Greenwood, a cryptocurrency marketer and co-founder of the OneCoin scam, received a 20-year prison sentence. The scheme, which generated $4 billion in revenue, victimized 3.5 million people globally. Greenwood profited $300 million, indulging in lavish purchases before facing justice. OneCoin lacked a #blockchain or genuine cryptocurrency, making it a massive fraud. Meanwhile, Ruja Ignatova, the "Cryptoqueen" and OneCoin co-conspirator, remains on the run, with a $100,000 bounty on her head.
Ripple Labs plans to conduct 80% of its hiring outside the U.S., citing more favorable regulatory environments in places like Hong Kong, Singapore, the UK, and Dubai. Ripple's CEO, Brad Garlinghouse, voiced optimism amid their ongoing legal battle with the SEC, emphasizing the substantial legal expenses incurred by the company.
CoinEx, a #cryptocurrency exchange, faces a security breach involving hot wallets, with estimated losses of $28 million. The exchange vows to compensate affected users and continues strategic expansion despite legal challenges. Enhanced security measures are crucial for rebuilding trust with its user base.
Project Sela, a collaboration between the HKMA, BOI, and BISIH Hong Kong Centre, aims to develop an efficient and secure central bank digital currency (CBDC) ecosystem. It divides tasks between central banks and private intermediaries, introducing "Access Enablers" to enhance competition. Cybersecurity is a priority, leveraging Israel's expertise. This initiative may serve as a model for future CBDC implementations worldwide.
#Ripple's President, Monica Long, has stated the company's intention to persist in its legal battle against the U.S. SEC over the classification of XRP as a security. While some clarity has emerged from the lawsuit, Ripple aims to prove the SEC's inconsistencies as it prepares for a trial in 2024, with plans for global expansion of its business and XRP use cases in cross-border transactions.
Republican House Speaker Kevin McCarthy has instructed three GOP-led committees to launch an impeachment inquiry into President Joe Biden, alleging that Biden lied about his family's international business dealings. The move reflects increasing political polarization and echoes past impeachment proceedings in American politics.
FTX's planned $3.4 billion sale of its crypto holdings, including Solana, Ethereum, and Bitcoin, has increased market volatility. #FTX aims to repay creditors but can only liquidate a portion of the holdings at a time, reducing the immediate impact on the market. However, overall market sentiment remains cautious, exacerbated by #Bitcoin's technical challenges.
Karl Sebastian Greenwood, a cryptocurrency marketer and co-founder of the OneCoin scam, received a 20-year prison sentence. The scheme, which generated $4 billion in revenue, victimized 3.5 million people globally. Greenwood profited $300 million, indulging in lavish purchases before facing justice. OneCoin lacked a #blockchain or genuine cryptocurrency, making it a massive fraud. Meanwhile, Ruja Ignatova, the "Cryptoqueen" and OneCoin co-conspirator, remains on the run, with a $100,000 bounty on her head.
Ripple Labs plans to conduct 80% of its hiring outside the U.S., citing more favorable regulatory environments in places like Hong Kong, Singapore, the UK, and Dubai. Ripple's CEO, Brad Garlinghouse, voiced optimism amid their ongoing legal battle with the SEC, emphasizing the substantial legal expenses incurred by the company.
CoinEx, a #cryptocurrency exchange, faces a security breach involving hot wallets, with estimated losses of $28 million. The exchange vows to compensate affected users and continues strategic expansion despite legal challenges. Enhanced security measures are crucial for rebuilding trust with its user base.
Project Sela, a collaboration between the HKMA, BOI, and BISIH Hong Kong Centre, aims to develop an efficient and secure central bank digital currency (CBDC) ecosystem. It divides tasks between central banks and private intermediaries, introducing "Access Enablers" to enhance competition. Cybersecurity is a priority, leveraging Israel's expertise. This initiative may serve as a model for future CBDC implementations worldwide.
#Ripple's President, Monica Long, has stated the company's intention to persist in its legal battle against the U.S. SEC over the classification of XRP as a security. While some clarity has emerged from the lawsuit, Ripple aims to prove the SEC's inconsistencies as it prepares for a trial in 2024, with plans for global expansion of its business and XRP use cases in cross-border transactions.
Republican House Speaker Kevin McCarthy has instructed three GOP-led committees to launch an impeachment inquiry into President Joe Biden, alleging that Biden lied about his family's international business dealings. The move reflects increasing political polarization and echoes past impeachment proceedings in American politics.
FTX's planned $3.4 billion sale of its crypto holdings, including Solana, Ethereum, and Bitcoin, has increased market volatility. #FTX aims to repay creditors but can only liquidate a portion of the holdings at a time, reducing the immediate impact on the market. However, overall market sentiment remains cautious, exacerbated by #Bitcoin's technical challenges.
Whale Movements and Price Increase Continue in XRP.
Classic whale transactions in #XRP continued today. After the whale transactions on Friday, attention turned to the charts of the altcoin again. Additionally, these whale transactions coincided with the price increase of XRP, #Ripple's native token.
Cryptocurrency investors and traders continue to analyze cryptocurrency intensively. According to data from different sources, it was stated that more than 42 million XRP was transferred to CEXs in several transactions.
A famous crypto analyst shared contrary thoughts about the price increase that the Ripple-backed token saw today. According to Whale Alert, known for monitoring whale movements on the blockchain, two significant whale transactions took place for #XRP on December 15.
According to the data obtained, it was revealed that two important transactions were made by an unknown wallet and #XRP was transferred to Bitstamp and Bitso, resulting in a collective movement of 42.6 million XRP.
At the time of writing, the #XRP price has reached $0.6318, experiencing a relatively small increase of 0.82% in the last 24 hours. The token was seen moving upwards compared to yesterday's market recession. Additionally, 24-hour trading volume increased by a significant 8.05% to $1.54 billion.
$BTC $XRP
Classic whale transactions in #XRP continued today. After the whale transactions on Friday, attention turned to the charts of the altcoin again. Additionally, these whale transactions coincided with the price increase of XRP, #Ripple's native token.
Cryptocurrency investors and traders continue to analyze cryptocurrency intensively. According to data from different sources, it was stated that more than 42 million XRP was transferred to CEXs in several transactions.
A famous crypto analyst shared contrary thoughts about the price increase that the Ripple-backed token saw today. According to Whale Alert, known for monitoring whale movements on the blockchain, two significant whale transactions took place for #XRP on December 15.
According to the data obtained, it was revealed that two important transactions were made by an unknown wallet and #XRP was transferred to Bitstamp and Bitso, resulting in a collective movement of 42.6 million XRP.
At the time of writing, the #XRP price has reached $0.6318, experiencing a relatively small increase of 0.82% in the last 24 hours. The token was seen moving upwards compared to yesterday's market recession. Additionally, 24-hour trading volume increased by a significant 8.05% to $1.54 billion.
$BTC $XRP
