BIG NEWS | Ripple BIG WIN In SEC Versus Ripple Case | XRP Lawsuit

this is probably one of the biggest news coming through ripples xrp we might as well start preparing to hold more xrp now because in no time this coin is going to the moon welcome back xrp lamp family this is the xrp place to be to keep you informed on all xrp and ripple updates let's grow the xrp lab community by pressing the like button and subscribing to our channel the ripple versus sec case has taken a completely different direction from where it was heading xrp which is now the seventh largest cryptocurrency globally is expected to back its bag and run a bulls run to the top three cryptos in no time yep this news will be a big one for xrp and xrp holders which will become a push factor for the coins price investors and traders are advised to hold on to this coin while it's dipping we can't tell when the surge might start and you will have to regret not buying one as for today's video we will look at the major new update and win by ripples xrp which has become a vast turnaround both for the coin and xrp holders further in this video we will look at xrp's price predictions so make sure to stick until the end so that you don't miss out on any facts with that being said let's cut to the chase ripple apps has its cryptocurrency called xrp a crypto whose blockchain network is formed to prove its worth as a financial token in the mainstream market how unusual and unreal it might sound but xrp holds the ability to replace the entire financial market using its blockchain technology ripple's xrp provides a free flow of money similar to that of the internet on an international platform indeed there has been a lot of technological advancement globally however the financial model globally stood still generally to transfer money on an international account it is essential to include intermediary banks to solve the currency availability issue making the process time consuming inefficient and extremely expensive example was formed to tackle this particular situation using an xrp blockchain network any bank can transfer x amount of money converting it into an xrp account and sending it across to the recipient bank's xrp ledger this way the major hindrance the middlemen can be removed xrp's utility has not gone unheard and many banks have converted their transfer system into xrp's network many banks have accepted ripples xrp as a transfer mechanism there have also been adverse reports against the current swift network as inefficient costly and with delays in contrast xrp is reported as favorable reliable and safe token for such cross-border transfer even though when such a high utility xrp's price could not fully search due to the current case ripple has been entangled with in short the securities exchange commission of the united states alleges the ripples xrp was sold as unregistered security further ripples executives claimed to have sold over 1.3 billion xrp unregistered securities this entire case had led to a considerable market dip for xrp in the initial days of december 2020 however with the suit moving forward the question of what stands in front of the court is whether or not xrp is a security well this question did lay a significant turnaround of sec because on the issuance of xrp's blockchain it will be proved that xrp is indeed a coin and not a security ripple filed a motion to view the sec's discussion record on bitcoin and other old coins for the same however to contradict the sec has filed another motion to look into ripple's legal advice account from 2012 to establish a ground of ripple's trade following the state provisions s-e-c was involved in shady practices of going through ripple's legal records from 2012 on which ripple filed a motion of a denial request to the judge however the judge denied ripple's bid for the sec last month ripple's executives wrote a joint letter addressing the judge that the sec's discovery perusal was outside the scope of the federal rules and the hague convention by improperly leveraging memoranda of understanding alongside the foreign regulators since the sec was investigating without ripple's knowledge u.s magistrate judge saranette burn in her ruling ordered the sec to provide all such documents obtained through the use of sec's formal request furthermore the order directed the sec to hand over copies of all previously served requests within 14 days along with any other subsequent mou requests judge nedburn affirmed that there was no such evidence that the sec's issue was in bad pay further the hate convention was also not a priority means of conducting foreign discovery after this order dated from the last week the recent hearing was heard on 21st march 2021 the issue that was presented stood whether the sec will be entitled to get opinion letters of the legal advice that ripple took back in 2012 to establish whether xrp is a security or not following the oral arguments ripple's delivery of two opinion letters of legal advice was already stated dated 2012 and 2015.

The letter dated from 2012 hints that xrp might be a security however it's not much of a matter to ripple because of its robust fair notice defense and the second is that xrp is not a security the fair notice defense stands as a solid weapon for ripple however the sec on city precedence delivered by judge netburn who had in one such previous case ordered to disclose the lawyer's opinion under fair terms did backfire on the sec the first statement the judge asked before sec would even begin with the case whether the sec has any precedent that says that the fair notice defense is a subjective test on legal terms a fair notice defense is an objective test deriving its power from the constitutional right to due process which according to the grain versus city of rockford case requires that laws give the person of ordinary intelligence a reasonable opportunity to know what is prohibited according to the legality of the fair notice defense the law would want the defense to be in accordance with a regular person's thinking eliminating the idea of specific defense identification in short asking whether the fair notice defense is a subjective test is similar to asking whether bitcoin is not a digital currency this defense is strong and judge nedburn's remarks on sec's arguments advanced the fact that sec is not going to have a good morning on the case however the sec did not fall short it pleaded that ripple was misusing the fair notice defense over playing the defense under the shadow of good faith defence which is a subjective one well given judge nedburn's past hearings it'd be tough on the sec to turn the case in their favor due to the failure of producing solid evidence on fair notice to be a subjective case the current most fundamental point of the case comes through the other question defense of fair motion for the sec to turn the matter it needs to strike through the defense judge netbun was clear enough to mention that the defense arose because of the failure to clarify the sec's part with this it is almost certain that cutting through the fair notice defense will not be possible for the sec indicating that xrp even though has almost won the case without winning this vast development in the sec versus xrp case has uplifted the coins worth even more in the crypto market apart from this sec also filed a motion against the intervention of xrp holders into the case calling them amici kiryat latin for friend of the court who is not a party to the lawsuit and has a strong interest in the same sec laid that xrp holders will not provide any additional information to the court even though the court has once allowed john deaton's intervention in the case it will likely do the same this time as well ripple had been working hard on its connections and the company's growth which made the company hire the 43rd u.s treasurer rosie royce who recently in an interview spoke about xrp's great future ahead not to mention she is one of the most prominent personalities that will play a significant role in terms of ripple's development in both the crypto and the mainstream market adding another potential positive catalyst for xrp is the recent announcement from the united states government that the federal reserve would publish a report later this summer concerning the release of a digital dollar or cbdc suppose the federal and the us government are taking up the slightest fact of introducing digital currency in that case it will undoubtedly be the biggest game changer for xrp because xrp is the only token to have a blockchain network most efficiently balanced with the cbdc's network further considering that xrb is the most supportive than any other old coin from financial institutions even though the world economic forum believes xrp to be the best crypto for cross-border settlement it would be no surprise if xrp becomes the reserve currency in the coming future also now since tesla has disabled bitcoin as a mode of payment due to high energy usage issues it is inevitable that xrp which uses 57 000 times less energy than bitcoin and is the most efficient energy usage coin consuming 0.0079 kilowatts of energy per transaction tesla must be eyeing on xrp to replace bitcoin as a payment method it is also expected that the stock flow model will shoot up bitcoin's price along with the other old coin it is likely that if there is a settlement while the bull market exists of xrp the coin will surely see a massive surge and by the end of the year we can expect it to be standing at five dollars or even more let us know in the comments below your views on whether xrp will win this case thank you for watching and make sure to subscribe and check out our other valuable videos see you soon at xrp lab

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