Ripple is one of the most intriguing
cryptocurrencies we have in the market right now. Ripple has, over the years, been
creating partnerships and associations with several of the largest banks and investment
companies. These associations and the SEC lawsuit are some of the primary reasons why the price
of XRP could skyrocket very soon. The most impressive thing is that despite everything that
has been happening with XRP, this coin has not shown any signs of backing down lightly so far.
Although we are likely to hit a massive plunge before things move to the brighter side, XRP
price is hinting at a powerful upswing.
Yes, XRP could indeed hit $300. We are getting into
all the nitty-gritty of today's video shortly. But before that, let's roll that intro.
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like button and leave a comment in the section below if you find this video informative. Now that
we have that out of the way let's get started. To start us out today, we will dive more into how
XRP can indeed get to the $300 mark.
As we all know by now, Ripple was created to make financial
transactions more advanced while ensuring the cost is less, and the speed is high. Ripple is
working with the traditional bank system to make The fact that Ripple has partnered with some
major big fish organizations has pushed for the mainstream adoption of its native currency XRP.
What's more, over the last couple of months, big investors have been allocating more significant
sums of money for the digital asset XRP.
In fact, XRP is the top rising altcoin among institutional
investors. Among them, we have the World Bank, World Economic Forum, IMF, and EU
Commission, who are on board with the Ripple and actively working with the team.
Besides all the issues XRP has been dealing with the SEC, the currency serves as the bridge between
different currencies. Ripple essentially has built on the shortcomings that the traditional banks
have attributed. Transactions being performed on the Ripple network can be settled in seconds in
contrast to what we get with conventional banks. We can all agree, transferring funds with
traditional banks could take days and sometimes even weeks before the wire transfer is settled.
What's more, Ripple comes with a more reasonable rate of exchange than the traditional banks.
With Ripple network, the minimum transaction cost is set at 0.001 XRP.
And as we are seeing, there
are many reasons to invest in XRP. The fact that Ripple is pushing towards an attractive future for
the financial sector is making XRP one of the most attractive digital assets in the industry. XRP
is an ideal investment for not only experienced but also beginner traders. However, for XRP to
reach $300, it is said that it needs to have a market cap of 13 trillion.
Next, we have this tweet from @LeoHadjiloizou that says;
"WHAT IS XRP: A KEY QUESTION IN SEC V. RIPPLE AND THE ANSWER CAN'T BE THAT SIMPLE "So
whether the SEC would care to admit it or not, the Howey orange grove analysis does
not apply as neatly to the facts and circumstances surrounding XRP and its offering."
As we can see from that article posted on Financefeeds.com, "Denise Fesdjian, an associate
at Ulmer & Berne, has analyzed how the SEC defines digital assets as securities in a document
titled "Comparing Apples to Orange [Groves]." Ms. Fesdjian, an attorney
representing broker-dealers, investment advisors, and registered persons
operating in the financial services industry, started by reminding the term "investment
contract" has been liberally construed by courts to apply to a wide range of money-raising
schemes that were found to be securities.
The landmark case of SEC v. W.J. Howey Co. – a hotel
operator which sold interests in orange groves as an investment scheme – established the
"Howey Test" for an investment contract. The Supreme Court held that the circumstances
surrounding the sale of the orange grove interests constituted an investment contract and,
therefore, security. Denise Fesdjian clarified the Court's finding: "It's important
to point out the following distinction: the underlying asset (the orange grove) itself
was not held to be a security, but rather it was the way in which the tracts of orange groves were
sold that rendered them an investment contract. "Naturally, you may be wondering, what exactly
do orange groves have to do with digital assets? As it turns out, the SEC believes they have
a lot more in common than you would think", she continued, adding that U.S. laws and
regulations have been stagnant and haven't kept up with the crypto craze.
legislation to rely on, the SEC has determined that a digital asset (such as a cryptocurrency)
may be considered an investment contract and, therefore, security under the Howey framework.
SEC commissioner Hester Pierce, who has recently denounced the lack
of clarity within the crypto space, has also said in an interview that "when we think
about a crypto-asset as being security what we're doing is we're saying it's being sold as part of
an investment contract. It doesn't mean that the asset itself necessarily has to be a security.
It means that it was being sold as a security." Moving forward, we have yet another
tweet from @JamesRuleXRP that says; "XRP Lawsuit: SEC files for seal, agreeing with
Ripple on the irrelevance of third-party identity" Now, if we look at that news that was updated
on Coingape.com, we can see that the SEC, in fact, followed Ripple's lead and filed
for seal in the Interrogatories Dispute, the latest development in the XRP case.
plaintiff claimed that it agrees with Ripple's Motion to Seal evidence in the Interrogatories
Dispute over the application of the Howey Test to XRP sales during the last eight years.
"The SEC agrees with Defendants that the identities of third parties are not relevant
to the Court's decision regarding Defendants' Motion to Compel…permitting sealing
of portions of documents revealing identities of individuals and entities where the
public interest in such information was low." The settlement speculation is really only
confirmed as the SEC and Ripple continue to work together to seal evidence. The SEC may
be employing the seal to prevent creating any legal precedent in the XRP action. The case's
example cannot be utilized by anybody soon, including SEC opponents. The SEC had requested an
extension to file its letter move to seal earlier in the interrogatories dispute. The SEC confirmed
that it would consult with the defendants before sealing portions of the appeal.
to the suspicions. The SEC petitioned the Court for merit sealing because the portions to be
sealed concerned the names of third parties. The SEC approaches Ripple for a seal
to protect some prominent individuals' secrets concealed in the exhibits. The seal
and settlement conjecture continues in circles, bringing us back to the SEC contacting Ripple for
a seal to protect specific eminent individuals' secrets hidden in the exhibits. In the
Interrogatories dispute, the SEC also filed a letter noting that it "did not oppose" Ripple's
request to seal parts of specific exhibits. As we all can see from this, the SEC is losing
as the case unfolds. For that reason, the SEC seems to be considering a settlement with the
defendants. That's because they want to bury this lawsuit now as it keeps on digging up the past.
In fact, just last week, Ripple filed a letter appealing to the SEC's addition of three
documents to be reviewed after the August 31, 2021, telephone conference based on
a privilege log provided by the SEC. This has definitely thrown the
SEC into havoc as these papers include an email chain that would potentially
discredit the SEC's former 'just an opinion' justification about the 2018 Hinman speech.
Now, as we wind up on today's video, we have this final tweet from @MackAttackXRP that says;
Ripple: XRP's utility and currency value backed by former U.S. Treasurer" Well, it
seems like Ripple XRP has earned itself another high-profile backer. Let's look at
that article posted on Financefeeds.com. We can see that 'Rosie Rios, the 43rd
Treasurer of the United States from 2009 to 2016 under President Barack Obama, has made
quite a statement as the SEC v. Ripple lingers and CEO Brad Garlinghouse refuses to settle if
no "absolute certainty" about XRP is provided. The 56-year-old academic took to Twitter to
send a message to everyone out there still figuring out if XRP fits the description
of a security under the 'Howie Test' as the Securities and Exchange Commission
"XRP's primary purpose is facilitating cross-border payments while other #Cryptos find
their value in speculation. China's latest move brings this point home", Ms. Rios stated.'
Both utility and currency value are features not found in securities. This statement is
being made by a former United States Treasurer, thus lending influence and credibility to
Ripple's arguments in opposition to the SEC. With that said, let’s take a look at the charts!
The diagonal trend lines have acted as important resistances and supports over time.
When the bullish euphoria stage will start to kick in during Q4 the targets to hit
will be the previous diagonal resistances. There is a low probability it will hit target 3!
Absolutely nothing has changed with my chart and everything is progressing as expected for now. The
bear party looks like it will finish between $0.65 and $0.75. The rise up to $2.00+ is supremely
likely. It'd be ashamed if you missed it 🙂 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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