What’s up, guys? I hope you are all having a
fantastic week so far. This has been such an eventful week, which is reflected in the current
XRP price. As we can see, XRP currently sits at $1.08, and we are slightly in the red zone today.
The price has been down by 4.87% over the last 24 hours. But before we get into all the juicy
stuff of today’s video, let’s roll that intro. As always, welcome back to Money Side- your
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To rev up those engines, we have this tweet from @attorneyjeremy1 that says, “Ripple’s first
request for admission to the SEC was attached to the most recent court filing and, in the
SEC, admits that it never told anyone that XRP was a security, until the lawsuit was filed.
That is now an official admission to the case.” At this point, I have no clue why the cases
against Garlinghouse and Larsen have not been dismissed with prejudice. Clearly, they had no
chance of knowing that the SEC considered XRP a security or could’ve recklessly disregarded that…
What more evidence does the Judge need??? Maybe she is manipulated as well, SEC is hiding,
deleting, and slowing down all evidence, and postponing, so ETH had more time with the “banker
Inner circle” to create a competitive platform…. May the truth come out about Clayton, Hinman,
Jackson, and Gensler, and they get jail time. If we look at this following tweet
from @attorneyjeremy1 says, “Well, that is officially/legally ADMITTED.”
Looking at that tweet, we can see an image he further shares on that tweet.
If we look at that image, it says, “Request for Admission No.
99. Admit that prior to
the initiation of this proceeding, in response to inquiries by third parties described in Request
No. 99 above, the SEC has never informed a third party that it considers XRP to be a security.
Answer: In addition to the foregoing objections, the Commission objects that this request
is irrelevant because the Commission can prevail in this case even if this requested
fact is true.
Subject to all of the foregoing objections, the Commission admits
that before the filing of this case, certain third parties inquired about the legal
status of XRP. However, the Commission did not state a view one way or the other in response.”
From what I’m gathering from this, the SEC admits they never responded to certain parties
that wanted answers whether XRP was a security or not. Until they shocked everyone with an
enforcement action a few days before Christmas. Did Ripple have a Fair Notice? No! Only clarity
was how ETH ICO transformed into a non-security. At this point, it’s actually hilarious
what’s happening with this whole lawsuit. Moving on to our following tweet, we have this one
from @JamesRuleXRP that says, “This is it’ moment for XRP in Ripple lawsuit, legal expert says.”
He further shares news shared on financedfeeds.com.
If we look at that, we can
see that “This is it! This is what the SEC is going to prove in Court and so let’s
take a look at its answer under oath”, said Mr. Hogan. The SEC has filed a letter in
opposition to Ripple’s motion to compel the agency to provide clear answers to its interrogatories.
The plaintiff argued the defendants have waited until the end of fact discovery, more than
seven weeks after receiving the SEC’s first interrogatory responses, to inform the SEC
they considered the responses deficient. The SEC claims it has supplemented five of
the responses at issue, met and conferred, and asked Defendants to identify what specific
information they still required. “Defendants refused and instead filed the motion less
than three hours before fact discovery closed. The agency further added it has substantively
answered the interrogatories at issue as required by the Federal Rules of Civil Procedure and the
Court’s recent guidance that a party “need not catalog every fact or piece of evidence so
long as it identifies representative samples and provides…meaningful disclosure.”
“Defendants’ argument here boils down to a complaint that they do not like the answers
they received to the interrogatories at issue, in large part because the SEC’s and Defendants’
interpretation of the applicable law differs.” “But the SEC is not required to answer
the interrogatories in a way that adopts Defendants’ incorrect reading of the law.
parties’ dispute as to the correct application of the controlling legal standards should be
resolved by Judge Torres at summary judgment, not on a motion to compel interrogatory
responses”, the plaintiff wrote in the letter. Ripple’s interrogatories aim to identify the SEC’s
theory of how the Howey Test applies to virtually all Defendants’ transactions in XRP over the
last eight years. The creator of the XRP ledger filed its motion to compel slightly after the
extensively covered telephone conference, which resulted in the Judge being unhappy with the SEC’s
arguments and ordering an in-camera review of the documents of which the SEC claims privilege.
In the motion, Ripple stated evasive responses “must be treated as a failure to disclose, answer,
or respond,” putting further pressure on the SEC, which has been quite evasive in regard to its
deliberative process. The motion also shows how the plaintiff has evaded Ripple’s inquiries.”
If we look further, we can see that “The agency alleges Ripple was involved in creating a liquid
market for XRP and promised to create “uses” for XRP.
Secondly, Ripple allegedly attempted to
manipulate the price of XRP, which did not have utility. “So, putting aside whether the SEC has
proven or can prove its case with these facts, the question for this motion becomes – is that
a good enough answer?” Mr. Hogan asked, leaving legal expert Thien-Vu Hogan to provide the answer.
“Not specific enough,” Ms. Hogan stated. “I mean, at one point in answering Interrogatory #8, the
SEC provides a link to evidence, and it’s just a link to Twitter in general. When I clicked
on that piece of evidence, I saw a picture of my face – that’s some ugly evidence”. “So for that
reason alone, I would predict that Ripple’s motion to compel better answers to interrogatories will
be granted in large part. But that being said, it’s probably in the SEC’s best interests to
amend its answers because they aren’t very compelling to me and obviously not very specific
and If I was representing the SEC, I would want to amend these with an eye towards summary
judgment, and I think it will be allowed to do so because discovery has not been completed yet”.
Next up, we have yet another tweet from @CryptoBuddha589 that says, “Of all cryptos
favored by the World Economic Forum, Ripple XRP has the strongest utility, globally
Eco-friendly, cost-efficient, scalable, adaptable, and interoperable ODL. Awesome.”
In the following tweet, we have @Ecossecrypto, saying, “Writing is on the wall. I wonder who
will hit ath next.” If we look at that tweet, we can see that he shares a list of a few
cryptocurrencies. In that tweet, we have the XRPL, where we can see, the XRP Ledger (XRPL) is
an excellent open-source, public blockchain that focuses on payments as a use case.
XRP boasts 1,500 transactions per second, costs $0.0003 per transaction, and settles
in 3 seconds. The following resources are available to learn more about scalability on XRPL.
Now we have another tweet from @digitalassetbuy that says, “Looks like @Bitboy_Crypto
thinks ‘All the World is a Stage.” If we listen to that video that has
been shared on that tweet, Bitboy says, “I think you are completely wrong because
I think you believe the Ripple and SEC are on separate sides.
He continues to
ask, ‘who do you think Gary Gensler is? He further explains that he is as thick
with the banking cartels as you can get, and the next four to five years are going
to show how thick Ripple is inside the banking cartel. He explains that even the
Coinbase thing is just a political theater. All these parties you think are on opposite
sides are really just on the same side. This thing will break very soon as it
was part of the plan the whole time. The SEC is actually doing here is they are sending
a shot across the bow, and they will not have competitors where people can just take USDC and
earn 4% on that. And why is that? Because these bond yields will go down, and they don’t want
a way for people to make money in the markets. The nitro for the XRP bull run is if they go
ahead and announce that they are going public and give us a date for that.
If that happens,
that’s the most bullish case. The SEC lawsuit will be settled, and before the end of
the run that’s announced, it’s going to be the nitro fuel. It could potentially push it
between $20 and $30. Without that, we can also definitely hit a good 12-15 dollars. With that
in mind guys, let’s take a look at the charts. XRP setting up for explosive
price in the end of the year, like it has done the last two bitcoin cycles.
We can see across the board how the SEC have started moving and going after other crypto
projects. Ripple have been in this position since December when SEC decided to go after them, could
they be the first to find clarity before everyone else? Or will the industry finally support it?
What happens if there is clarity & when exchanges have to re-list it again?
I believe price will go up either way because of how XRP is positioned in the cycle and
how the market is forming with bullish structure. No moonboy mentality guys.
We might see a
little dip but I'm confident to say "$13 Xrp is very possible". Chart is perfectly
aligned. As always trade safely! 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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