XRP vs SEC lawsuitThe lawsuit brought against XRP by the U.S. Securities and Exchange Commission (SEC) presents significant challenges for the cryptocurrency, suggesting a potential unfavorable outcome. Several key factors contribute to the argument that XRP may lose the lawsuit:
Regulatory Classification: The SEC contends that XRP should be classified as a security rather than a digital asset. This argument stems from the agency's belief that XRP meets the criteria of an investment contract, subjecting it to securities regulations. If the court agrees with the SEC's classification, it could have serious implications for XRP's status and operation.
Precedents: Previous cases involving the SEC and other cryptocurrencies, such as the Ripple and Kik Interactive cases, have resulted in unfavorable outcomes for the defendants. These rulings have established a precedent that strengthens the SEC's position and potentially weakens XRP's defense.
Investor Protection Concerns: The SEC's primary objective is to safeguard investors and ensure fair market practices. The allegations against XRP, including the sale of unregistered securities and potential market manipulation, align with the SEC's mandate to protect investors. This focus on investor protection may sway the court's decision against XRP.
Ripple's Control and Influence: Ripple Labs, the company associated with XRP, has faced scrutiny over its level of control and influence over the token. The SEC argues that Ripple's actions, including the sale of XRP, indicate a centralized entity exerting control, which conflicts with the decentralized nature often associated with cryptocurrencies. This argument could weaken XRP's position in the lawsuit.
While the outcome of the lawsuit remains uncertain, the aforementioned factors suggest that XRP may face challenges in defending its case against the SEC. It is essential for XRP holders, traders, and investors to closely monitor the developments in this legal battle, as the verdict will undoubtedly have significant implications for the future of XRP and the broader cryptocurrency industry.
It is my belief that in light of the ongoing lawsuit, XRP is likely to face an adverse outcome, resulting in a significant sell-off of the cryptocurrency, potentially driving its price down to the $0.10 level.
Looking forward to read your opinion about it.
Xrplawsuit
XRP USDT Bigger PictureXRP USDT Bigger Picture
RIPPLE vs SEC is going to be the game changer in coming weeks.
Charts tell massive growth in XRP but from the point i mentioned the buy from.
Always DYOR before investing
This line is of great importance!!The bearish noobs out there are telling people like me and you that Xrp will go to 0.28 cents or 0.30 cents, but they aren't experienced enough in crypto.
The same are still calling Xrp Ripple when Ripple is not Xrp. If the 'company' Ripple disappeared tomorrow, Xrp would still exist. It has nothing to do with Ripple when Xrp is fully decentralised.
Now what is the chart telling us? Forget the naysayers. We can see Xrp trend setting the price upwards. By December Xrp most likely will never fall below 0.33 cents ever again.
As I've stated in the past... Xrp is way undervalued. It shouldn't even be below 0.65 cents which is the mean bottom. Now Xrp is in a double bottom position, hence why I'm confident the current bottom upward trendline tells us price action whereby Xrp will never drop below again.
Come 1st December.. Xrp will never drop below 0.34 cents again. Come New Years Xrp will never drop below 0.35 cents again.
We're seeing 👀 history in the making!!
Medium Term Short Idea (Jan 12th through May 2021)Ripple (XRP)/USD rate (January 12th 2021 through May 2021)
Low: $0.11-$0.15
High: $0.51-$0.57
I have also posted a shorter time frame forecast in related below:
Orange box is my weekly Cindicator forecast.
I'm going to copy and paste what I posted in the quicker idea here:
So I was looking at Ripple again for Cindicator forecasting last night since we had the big 70-90 cent pump in November, and I do think now that the dust has settled a little since the SEC lawsuit announcement, there are still some quick opportunities in here. But its still a gamble with the massive de-listing on various exchanges in that aspect alone. Err on the side of caution with this one right now.
11 to 15/16 cents is a decent range for a bearish reaction to come about if the 57 cent target ends up being just an upwards retrace since the December XRP crash.
I was originally only thinking 51 cents could be our upper limit but Scott at TCL provided some guidance that 57 could very well be possible too.
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