XRP has done it again. There’s so much that
has been happening this week and we need to highlight all of them in this video. We have
a lot to talk about today and it’s time to see XRP with two digits. We have some really
good stuff and you will see that this month, XRP has a likelihood of reaching to that
two digit. But first, let’s roll that intro. Hello there and Welcome to Money side, your
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informative and also comment in the section below. Now that that’s over, let get down to business.
It’s September! I don’t think we will have to continue with this lawsuit past
mid of this month and afterwards, XRP will head straight to the moon.
Reborn shared a tweet showing his analysis of the way XRP is about to behave and,
as much as we are going to go into deep detail about the price movement of XRP at the end of
this video, it doesn’t hurt to acknowledge this concept. From what he shared, XRP is about to
head straight to the moon in the next few months and that will change the game completely.
SEC is the only body that’s holding back the future of XRP and once they let this crypto be,
the coin will likely turn most crypto holders into millionaires, if not billionaires.
Another tweet that highlights a lot about what is happening with the SEC is this one that
was shared by @digitalassetbuy which reads, ‘We want a level playing field. The SEC can't
have one set of rules for one digital asset and another for the rest. Already given up on
the #wallstreetmedia Where are you Congress? @RepTomEmmer @RepMaxineWaters @ewarren’
The SEC is currently unfair to Ripple and keeps treating this crypto company differently.
That’s doing too much when it comes to regulating the crypto market. Without a doubt, the SEC is
supposed to be protect the whole crypto community and treat everyone the same. Another article
Another tweet that also talks about what is happening in the SEC is
this one by @BakkupBradley, ‘Recently granted Amicus Curiae to the Court
for Ripple vs SEC Lilya Tessler and Former SEC Staffer @ Token Summit III NYC 2018 Just
days before the #HinmanSpeech #retweet #Follow @s_alderoty @bgarlinghouse @Ripple
@attorneyjeremy1 @FilanLaw @JohnEDeaton1’ That shows that the SEC is not sure how to handle
More importantly, this regulatory body is also trying to hide skeletons in their
closet. It’s true the SEC has a lot of dark secrets and now this court case is bringing all
that out. An article published on nairametrics.com goes into deep detail about what is happening.
‘Ripple, the creators of the XRP token, has been ordered to produce one million missing
Slack messages between its employees. This order comes after the Securities and Exchange Commission
(SEC) petitioned Ripple to hand them over.’ I’m sure supporters of SEC are now celebrating
this win. But I honestly don’t think there’s any information that can be found in these documents.
The SEC is just trying to grasp at straws because they’ve seen that Ripple is coming for them,
all guns blazing.
The article continues to say, ‘The SEC stated that Ripple had agreed to
produce this information at the beginning of the discovery phase but they later changed
their minds stating that the exercise is an “extensive and costly fishing expedition”
that will take up significant time and resources. Ripple stated that it would cost up to
$1 million to produce these messages but judge Sarah Netburn deemed the messages critical
and unique evidence for the SEC’s ongoing case against the multi-billion-dollar company
for selling unregistered securities.’ The unfortunate part about retrieving these
messages is the cost that comes with it. The SEC should’ve been a bit considerate but hey,
it’s the SEC. They only do what’s good for them. ‘According to the order, Ripple now has to produce
Slack messages from 22 custodians listed out by the SEC. The order further ruled that Slack
messages are relevant to both the parties and Ripple’s perceived burden is outweighed
by its previous agreement to produce the same. This order from the judge comes after the SEC
was compelled to release some documents.
During the conference call held on 31 August
regarding the SEC’s privilege dispute, the judge also ordered the regulatory watchdog to
produce internal documents regarding discussions over the nature of XRP and ETH, for
which she will hold an in-camera review.’ What you should know
• The lawsuit started in December 2020 when the SEC filed against Ripple alleging that
Brad Garlinghouse and co-founder and former CEO, Chris Larsen had been conducting an “unregistered,
ongoing digital asset securities offering” with their XRP token sales.
• This caused the XRP token to nosedive by over 50% when the news broke
as investors panic sold the cryptocurrency. XRP has however recovered since
then, trading nearly $2 at the peak of the bull run before the May 2021 crash.
• In June, Brad Garlinghouse and Chris Larsen filed a twin motion to dismiss the SEC case by
petitioning international authorities to request documents from several other non-U.S.-based crypto
exchanges including Bitstamp, Huobi and Upbit. These documents requested from these exchanges are
expected to exonerate the pair from all charges. XRP is trading $1.27 as of the time of this
writing, up over 16% in the last 7 days as the altcoin market maintains bullish stature.’
Next, we have this tweet from @RipplePandaXRP that says, “Evasive responses “must be treated
as a failure to disclose, answer, or respond’, the letter added, putting further pressure
on the SEC which has been quite evasive in regard to its deliberative process.
Ripple is pushing hard for clarity!” He further shares a tweet that talks about how
Ripple cornered the SEC with motion on how Howie Test applies to XRP.
Looking at that article, we
can see that “Ripple and Chris Larsen have filed a motion to compel the SEC to answer the defendants’
interrogatories seeking “binding representations from the SEC as to how it contends Howey applies
to this case, as well as identification of the factual support (if any) for those contentions”
“This is absolutely basic information essential to the defense”, the letter continued. “Rule 33
requires the SEC to answer each interrogatory “separately and fully,” and in a manner that is
as “specific as possible and not evasive” […] in order to ‘minimize uncertainty concerning the
scope of [the SEC’s] claims.
“Evasive responses “must be treated as a failure to disclose,
answer, or respond”, the letter added, putting further pressure on the SEC which has been quite
evasive in regard to its deliberative process.” Well, we can all agree that this motion, as well
as many others before, aim to further strengthen Ripple’s argument that the SEC failed to provide
fair notice that XRP could be deemed a security, therefore under the scope of the regulator.
It has been increasingly debated if the Howie Test can be used to determine the nature of digital
assets as the emergent asset class seems to follow different rules altogether, in the eyes of many
experts. While SEC Chair Gary Gensler reiterates that Howie works for crypto, a number of academics
have said otherwise, including in Rutgers Law School and the American Enterprise Institute,
suggesting a different approach to digital assets. Let’s be honest, the SEC is on the hunt for
XRP and Ripple but the end game for this is not defined.
That’s because the SEC seems like it
has a hidden agenda to how they are planning to tackle Ripple. And here’s the most intriguing
part: what will happen with Ripple right now will act as the benchmark of what will happen
with the whole crypto market in the future. That’s because the SEC are planning to use this as
a way to draft crypto rules. When, and I insists, when Ripple wins, XRP will end up being the crypt
that rules them all. XRP is designed to become the head of the whole crypto nation and that’s a fact.
The only different right now is that it’s going through a tough stage with the SEC but
other governments have already decided to work hand in hand with RippleNet.
all know, RippleNet can’t exist without XRP. If you are a XRP supporter and possibly
holder, all you have to do is wait. As we’ve seen severally in the crypto market,
patience pays. XRP will head straight to two digits before the end of this month and
possibly keep soaring higher. In the meantime, the SEC sounds like the biggest challenge
this company has to face. But have you asked yourself, why is North America the only
government opposing XRP? Food for thought! Now lets check out the technical analysis.
XRP Price is trending up. Triangle formed (shown in green) and price may be breaking
out of it to the upside (watch for strong daily candle close with some volume behind
it). Hidden Bullish Divergence showed up on RSI. Stochastic RSI looks ready to head back up.
The 1.618 fib level (not shown) is around $1.75. We have different potential barriers.
If BTCUSD or ETHUSD sell-off, this could affect XRP/USD.
It seems we often don't
get a re-test on breakouts, so missing a big, fast move is possible. There's local resistance
around the $1.30 to $1.35 zone that the price needs to overcome, in order to reach the $1.60
resistance zone. Guys, Good luck, and have fun. Please keep in mind, We are not a licensed
financial advisor. All videos on this channel are intended for entertainment purposes only.
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