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Attorney Fred Rispoli proposes SEC could skip Ripple trial for settlement leverage, citing case weaknesses. SEC’s resource-based wait-and-see approach might lead to interesting outcomes if it fails.

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The crypto community is buzzing about the upcoming showdown between the SEC and Ripple. Everyone’s speculating about what might happen. Although there’s a basic decision already, Ripple’s leaders, Brad Garlinghouse and Chris Larsen, are still on track for a trial with a jury.

But here’s the twist – will the case even go to court? Keep reading.

Well-respected lawyer Fred Rispoli is now a big voice saying the trial might not actually happen. Rispoli explains why the SEC might skip a big showdown and what’s on the line.

Rispoli thinks that going after Garlinghouse and Larsen wasn’t just about the law. He believes the real goal was to push Ripple into a position where they might agree to a settlement. This means putting pressure on the important people in the company.

The Attorney’s Explanations

Rispoli points out several reasons why the SEC might be in a weak position:

1. Possible Court Setbacks: Putting SEC figures like Hinman and Clayton on the witness stand in New York, a politically charged environment, comes with risks. Associations with the “Trump Administration” could influence the jury against them.

2. Recklessness Claim Doubts: The SEC’s claim that Ripple was reckless in its institutional sales might not hold up, given the widespread acceptance of similar sales in the industry.

3. Lack of Clear Evidence: Differentiating between domestic and international sales is a challenge, as the evidence supporting the SEC’s stance appears weak.

4. Trial Team Changes: The SEC recently changed its trial team significantly, which might indicate internal issues or unpreparedness.

5. Tight Schedule: The SEC has a series of trials leading up to the Ripple case, raising concerns about their readiness.

Rispoli concludes that the SEC’s strategy might be to wait until the last moment, using its vast resources. In typical cases, both sides might settle to avoid high legal costs.

However, the SEC, funded by taxpayers, doesn’t feel the same pressure. Yet, if their risky strategy fails, the aftermath could be quite intriguing.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptocurrencyNews #NFT #Web3 #Blockchain #RIPPLE

Ripple's token, XRP, has surpassed the resistance level of $0.52 against the US Dollar, indicating a rise. While other altcoins such as ADA and BNB are experiencing losses, XRP remains in a bullish zone.

Over the past few days, #XRP faced a downward correction after reaching the $0.540 resistance level against the US Dollar. It temporarily fell below the support zone of $0.52, following a bearish trend similar to Bitcoin and Ethereum.

Despite the initial dip below the $0.52 support zone, bullish momentum was observed near the $0.4750 level in Ripple's XRP price. A low point was established around $0.4720, and the price has since started to climb.

In contrast, altcoins like ADA and BNB continued to experience downward movements. Notably, XRP managed to surpass the 50% Fibonacci retracement level, which measures the downward move from the swing high of $0.5418 to the low of $0.4720. This recovery has allowed XRP to trim most of its losses.

Currently, #RIPPLE is trading above both the $0.515 level and the 100 hourly simple moving average, indicating a positive trend. It is presently testing the 76.4% Fibonacci retracement level, which measures the upward move from the swing high of $0.5418 to the low of $0.4720. This suggests that XRP is making progress in recovering from its recent decline.

The $0.535 zone represents the initial resistance for XRP's upward movement. Additionally, a significant bearish trend line is taking shape, indicating resistance near $0.535 on the 4-hour chart of the XRP/USD pair. The first notable resistance level is situated around $0.545. If XRP successfully breaks through this resistance, it has the potential to target the $0.565 resistance level. Further gains beyond that point might lead to a test of the $0.580 resistance.

If XRP encounters difficulty in surpassing the $0.535 resistance zone, a potential downside correction could ensue. The initial support on the downside can be found around the $0.515 level, followed by a more significant support near $0.500. Should the price experience a downward break and successfully close below the $0.500 level, it could lead to further losses for XRP. In such a scenario, the price may potentially revisit the $0.480 support zone.

According to Price Analysis, the current market capitalization of XRP is estimated to be around $27,554,846,132. Additionally, the trading volume of XRP over the past 24 hours has been approximately $1,362,373,788.

KEY LEVELS :

RESISTANCE LEVEL : $0.5450-$0.5650

SUPPORT LEVEL : $0.5200-$0.5100

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#coingabbar #BinanceTournament #crypto2023

The ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple, a blockchain company, has been widely publicized. Amidst this backdrop, a commissioner within the SEC has spoken out against the agency's tactics in the cryptocurrency sector, characterizing them as a territorial struggle.

Hester Peirce, who has gained recognition for her vocal criticism of the regulator, has accused the SEC of engaging in "regulation by ambiguity" and "jurisdictional maximalization." This includes the launch of cases like the one against Ripple, which may be aimed at expanding the SEC's authority. These allegations were reported by Wired on April 26.

Enforcing instead of guiding

As per the report, Peirce commented that "one way to plant a flag is to bring enforcement action. It says: This is our space." However, she also highlighted a major issue with this approach, namely that the SEC has not provided sufficient guidance for cryptocurrency firms to ensure compliance. This lack of guidance leaves these firms in a state of uncertainty and confusion.

“We haven’t done our job as a regulator. We have not provided a road to compliance. (…) [Businesses and consumers] have to be able to know whether they’re dealing with a security or not because when they don’t know, they can’t move forward—it paralyzes them.”

Peirce further contends that the SEC's actions are detrimental to the United States' ambitions of becoming a hub for technological innovation in the financial sector. By driving companies away with unclear and inconsistent regulation, the country is missing out on potential opportunities for experimentation and growth.

"It's disheartening because it reveals the inability of regulators to adapt to new technologies and asset classes," Peirce lamented. "We are demonstrating an inability to provide any room for experimentation."

Legal developments

Meanwhile, John E. Deaton, a legal expert who is an amicus curiae for Ripple, revealed some details of his Amicus Brief. In it, he challenged the SEC to provide evidence of any other situation that is comparable to what the agency is attempting to establish in the ongoing Ripple case.

John E Deaton@JohnEDeaton1

Deaton emphasized that the nature of an asset does not change simply because it is offered and sold as an investment contract or security. For example, oranges remain oranges, and XRP remains digital code.

Meanwhile, the XRP community is eagerly awaiting news regarding a Zoom hearing on class certification for a class-action lawsuit filed against Ripple in 2020 in a California court. In this lawsuit, Ripple is accused of selling the XRP token as an unregistered security, as stated by defense attorney James K. Filan.

As of April 27, XRP is trading at a price of $0.46, with a 2.22% decrease on the day following a sharp drop from $0.48 to $0.44. However, the cryptocurrency seems to be recovering and attempting to reverse its losses of 6.05% in the last week and 4.01% over the past month, according to the latest data.

#xrp #SEC #RIPPLE #crypto2023 #lawsuit

Source: finbold

image Source: Photo by Traxer on Unsplash

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Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

XPPL Labs has made a breakthrough in its efforts to enhance XRP Ledger and establish it as a strong competitor to Ethereum. Its most recent accomplishment involves the successful conclusion of a comprehensive security audit on the Hooks amendment, a vital element that will expand the range of services available to users.

In partnership with cybersecurity firm FYEO, the cutting-edge framework underwent an external security evaluation. The primary aim of this audit was to obtain an impartial assessment of the overall security status of the amendment and identify any potential risks or vulnerabilities.

The assessment was conducted remotely from Jan. 31 to March 14, 2023, and the results were extremely positive. XRPL Labs has reported that no significant security issues were uncovered. Although a few moderate and several minor issues were detected, the team of developers promptly addressed and resolved them.

What is the point?

According to Wietse Wind, a prominent ecosystem developer, Hooks play a pivotal role in bridging the gap between XRPL and Ethereum. This amendment allows for the creation of customized logic and automation within the core ledger, granting transactions increased intelligence and convenience.

By incorporating the amendment, users gain the ability to add tailored on-ledger functionalities, exercise control over transaction flow, generate new transactions and retrieve information from the ledger. Hooks brings smart contract capabilities to XRP Ledger's foundational layer, significantly enhancing the ecosystem's inherent capabilities.

#XRP #RIPPLE #crypto2023 #BinanceTournament

EGRAG CRYPTO, a trader and analyst, shared that XRP’s RSI is following the same trend as 2017.

In the post, the trader alludes to the possibility that XRP will print a higher high soon.

At press time, technical indicators on XRP’s chart were contradicting the trader’s bullish thesis.

The crypto trader and analyst EGRAG CRYPTO tweeted an update to his Ripple (XRP) analysis this morning. In the post, he focused specifically on the Relative Strength Index (RSI) on XRP’s chart.

XRP RSI (Source: Twitter)

According to EGRAG CRYPTO, this indicator is providing a clear path in relation to historical data. He questions whether XRP’s price will print a higher high in the near future since the RSI is moving in a similar way to what it did in 2017 before the remittance token’s price had printed a higher high back then.

At press time, XRP’s price was trading at $0.4647 after it had achieved a 24-hour gain of 0.47% according to CoinMarketCap. XRP was also up against the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) by 0.38% and 0.35% respectively.

Daily chart for XRP/USDT (Source: TradingView)

Technical indicators on XRP’s daily chart suggest that the crypto’s price may not be printing a higher high any time soon. At press time, the 9-day EMA line was looking to cross bearishly below the 50-day EMA line. If this cross happens in the next 24-48 hours, it could spell disaster for XRP’s price and push it down to $0.4191 as a result.

In addition to the 9-day and 50-day EMA lines, traders will also want to keep an eye on the nearest support level at $0.4470. A break below this price mark will serve as a confirmation of the bearish thesis. On the other hand, XRP’s price closing above the 50-day EMA line in the next 24-48 hours will result in it climbing to $0.4925 in the next few days.

source: coinedition

mage source: ai

#XRP #RIPPLE #news #crypto2023 #crypto

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Ripple Labs, a leading company in digital payments and blockchain technologies, has announced an ambitious initiative to revolutionize the real estate sector through tokenization. Antony Welfare, the Central Bank Digital Currency (CBDC) advisor at Ripple, highlighted the increasing global interest in CBDCs and stablecoins, stating that Ripple's team is actively researching practical applications of these technologies and specifically focusing on tokenizing real estate assets.

The Potential of Tokenization:

Tokenization is the process of securely storing real assets on the blockchain and converting them into digital tokens. These tokens represent ownership or shares in underlying assets, enabling their purchase, sale, and trading on decentralized platforms. Tokenization has gained significant interest in various industries due to its transformative potential. #RIPPLE #XRP $XRP #CBDCs

Tokenization in the Real Estate Sector:

Ripple Labs has initiated a venture to tokenize real estate assets using blockchain and digital currencies. This initiative aims to address the existing challenges in the real estate sector. By overcoming these obstacles, successful tokenization endeavors can provide significant benefits such as enhanced liquidity, expanded market access, and optimized transactions.

Benefits and Related Industries:

Successful tokenization initiatives can offer various advantages. Increased liquidity, expanded market access, and optimized transactions are appealing to real estate owners and investors. Tokenization also has the potential to revolutionize traditional ownership and investment models.

Blockchain Technology and Regulatory Barriers:

Widespread adoption and implementation of tokenization may encounter regulatory barriers. In addition to addressing regulatory considerations that require compliance with local laws, the industry must also address security concerns related to tokenized assets. However, as more industries and investors realize the advantages and potential of tokenization, it is poised to become a significant trend in financial and asset management circles.

Ripple Labs' Vision:

Ripple Labs' ambitious initiative to transform the real estate sector through tokenization showcases the company's commitment to exploring new frontiers in digital payments and blockchain technologies. By harnessing the power of CBDCs and stablecoins, Ripple aims to continue innovating and promote a more efficient and accessible real estate market for individuals and businesses.