XRP Prices NOT Moving BUT It’s HAPPENING! | Ripple/XRP-US Treasury To Suspend Sale Of Securities

time and again in ripple versus sec we have seen ripple take home the most profitable orders the most recent news coming in is nothing less than a significant victory for ripple alongside xrp are we soon going to see a breakout in xrp's price action stay with us till the end of the video to know more about it we are giving away 25 at the end of the month to one random subscriber to start on their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comment section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe to the channel ripple in the present lawsuit made an amazing victory which we believe is sure to give a huge profit both for the company and for the crypto as well at this point the entire lawsuit has turned out to be showcased as a typical example of a courtroom drama to be watched this summer if you are a keen observer and enthusiast of the cryptocurrency market then this lawsuit shouldn't be a surprise to you the previous question of deposition claimed by the fintech company the magistrate has declared that ripple can depose the former sec director of corporation finance william hinman now that is something really huge for the fintech company majorly comparable to the victory order when the court directed the sec to produce their internal documents previously in the lawsuit the sec sought to block ripple from having him in question stating that the company doesn't have the exceptional circumstances necessary to involve the former director starting from december 2021 the growth of the fintech company witnessed a halt after the regulatory corporation dropped a bombshell of the suit on ripple the sec sued two of ripple's top executives for seven years of continued distributions of cryptocurrency xrp which the sec claims to have sold xrps as illegal unregistered securities this was a huge blow on ripple's business operations the company which offers a global payments platform for more than 2 million users worldwide for the xrp token faces the wrath of the regulatory body initially this affected xrp's price action and ripple reputation and for the same xrp got delisted from many trading platforms however with time the suit turned in favor of the fintech company standing on the question to be discussed that is whether xrp is a security or a cryptocurrency ripple previously filed a motion to discover sec internal documents to which the court agreed on however on sec demands to extend the deadline period the fact discovery and expert discovery deadline now stands at the 31st of august and the 16th of october 2021 respectively on the brief background of the latest order the fintech company requested a deposition of the former sec chair william hinman for a speech given by them that expressly declared that bitcoin and ethereum are not securities however ripple subpoena received great resistance from the sec and him and himself on the account that hinman does not have the first-hand knowledge of the lawsuit and therefore the remarks made by him were purely his personal remarks and nothing based on the sec internal policy as a matter of fact u.s magistrate judge sarah netburn ruled to authorize ripple with hinman's deposition with a delay of one week beyond an earlier scheduled date on the 19th of july the sec sought to prevent this deposition however hinman will have to testify since the sec has lost the arguments that hinman's knowledge and previous public statements are irrelevant to the litigation the court believes that hinman's testimony could serve as some great insights into the sec side on cryptocurrency william hinman served as the director of sec division of corporation finance from 2017 to 2020.

Therefore the court finds hinman's 2018 speech as the central question of the hearing judge net byrne expressly said that sec suit against ripple was not a run of the mill enforcement case by the sec but has noted the substantial public interest in the proceedings hinman has been surrounded by a potential conflict of interest that concerns all stakeholders of the suit after it was revealed that he had received a pension amount of 1.6 million dollars from his former employer simpson thacker a member of the enterprise ethereum alliance and interestingly after the speech hinman left the sec and joined simpson thacker as a partner on the 15th of july a telephone conference was held that drew much interest from the entire xrps community in the u.s and also from the other parts of the world a week after the judge ordered the deposition on the 16th of july both parties announced to reduce privilege issues concerning hinman's deposition however despite this understanding there are few pressing pointers that john deaton thinks might be important to discuss while the deposition takes place i will be surprised if the parties did not come to her after the deposition to get a ruling on the privilege deliberative process issue added john deaton who previously filed a motion on behalf of 17 000 xrp holders to intervene in the matter as third-party defendants according to him the fight over the hinman deposition has now just begun it will be a heated meet and confer meeting i can promise you that john deaton has previously suggested 10 basic questions for the deposition that does not fall under the privilege argument later on 18 july john deaton tweeted make no mistake about this ruling it is not a small victory for ripple it is a significant victory that is on the same level as the victory related to the judge ordering the production of the internal memorandum regarding bitcoin ethereum and xrp well as per the current court order and the latest developments it'd be safe to assume that ripple has a much higher chance of winning this lawsuit the sec till now is unable to break ripple's defense of fair notice john deedon argued that the fintech company acted in good faith by ensuring that xrp complies with the u.s currency laws and had interacted with the sec on multiple occasions where there was a concern about xrp being considered a security once the deposition is over several milestones are expected to kick in for ripple with regard to the lawsuit this indicates that the resolution of the matter is likely to take place in early 2022 unless the sec further pushes the timeline even more as jeremy hogan a keen observer and an attorney expresses his views on this suit mentioning that any further delay in the matter with regard to would not be in favorable terms of the fintech company even though the orders are mostly in favor of ripple by an unresolved matter is harmful to ripple the value of xrp has dropped considerably and the other 50 exchanges have either delisted or suspended xrp trading since the currency is still down and barely managing through its supports most investors and platforms are looking forward to recovering xrp into their portfolio however the process remains untouched until the lawsuit has been concluded previously we have been expecting a settlement before the trial because most of the sec cases are agree on a settlement before the court however at this point it's difficult to assess if there would be any settlement or not however there might be a possibility because the sec is clearly on the losing sides they have no argument to break ripple and with every passing order on ripple's favor sec might look out for a settlement other than that sec would be stalling on multiple fronts to weaken ripple's current hold because ripple cannot move forward with its initial public offering without the case getting resolved xrp is currently trading at 0.5538 with a green of 4.87 change in the last 24 hours the token broke out of the pendant to the downside losing 20 value the 0.50 level of trading is a psychological resistance point and an excellent buying opportunity therefore a short buying force has ensured a potential bullish market for the token xrp will need to move through this range towards its first significant resistance at 56 cents in the event of another breakout the token is likely to re-test its resistance at 60 cents hopefully before any pullback do you invest in xrp let us know kindly note that the prices of cryptocurrencies frequently change so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice and you should not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered as financial advice do conduct your own due diligence and consult your financial advisor before making any investment decisions if you want to continue to know about xrp we have got two more videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video my friend [Music] you

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