What's the matter, guys? Hope you have had a great week so far. Today, we have some exciting news about Ripple Vs. SEC litigation. According to the CEO of SBI Group, once Ripple manages to reach a settlement with the US Securities and Exchange Commission , You can take measures to publicly issue stocks. The CEO of SBI Group and the Japanese financial giant Yoshitaka Kitao (Yoshitaka Kitao) claimed that Ripple It is indeed possible to become a listed company after the settlement of the SEC lawsuit. Kitao said in his speech that Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen plans to make Ripple public.
"After the current litigation, Ripple will be publicly listed. The current CEO wants to do this. Chris hopes to do this. "-Kitao according to Cointelegraph. Kitao further stated that SBI is Ripple’s largest external shareholder. Once Ripple is publicly listed , Their investment in Ripple will pay off. Okay, guys, this is a hot spot today. But before proceeding, let's start with an introduction.
As always, welcome back to Money Side-your favorite xrp channel. If you are new here, welcome to join the gang. Smash the "subscribe" button and turn on your notification so that we can Get notified when daily encryption updates are released. Now back to today’s topic, after the lawsuit, Ripple has some big dreams, and it’s unbelievable The news is what we need to hear during this time. Kitao Yoshitaka Kitao said in his speech that SBI has been investing in fintech companies And use this technology.
Although Brad Garlinghouse hinted to us last year about a potential initial public offering , But now that Kitao mentioned this again, I think it is indeed very likely to happen. Last year, Brad Garlinghouse (Brad Garlinghouse) predicted that the IPO will be It is more common in the blockchain and cryptocurrency industries. He said: "In the next 12 months, you will see IPOs in the crypto/blockchain space. We will not be the first, and we will not be the last, but I hope we Will continue to lead. For our company, this is a natural development. " So far, all of us can clearly see that the SEC lawsuit may be the only one blocking Brad Garlinghouse thing. As we reported in the previous video, in December 2020, the SEC Ripple Labs, Larsen and Garlinghouse filed a lawsuit alleging that XRP was regarded as unregistered Securities sale. The lawsuit alleges that XRP should be traded as securities rather than currency as securities under the supervision of the Securities and Exchange Commission (SEC).
More importantly, the SEC lawsuit accuses Ripple of being aware of XRP Lack of support from the central government, so unlikely Comply with the currency status specified by the exchange . In response to this lawsuit, Ripple said that the U.S. Securities and Exchange Commission (SEC) was incorrect and Ripple’s The cryptocurrency XRP is not a security. The company went further, he said that XRP is a virtual currency used as The medium of exchange for international and domestic transactions, because it is fast and scalable, is an ideal asset for payment processing . According to the SEC's investigation, Ripple's partnership with Moneygram broke down. All in all, they both said that they can cooperate in the future, but only in litigation Only after that can we cooperate. So far, Ripple Lab has achieved a series of legal victories that have allowed investors More hope was placed on the outcome of the lawsuit.
At the same time, #relistXRP has pushed the price of XRP to today’s 24-hour high, to 1.7722 . This is a level that XRP has not seen since January 2018. As we have already mentioned, Ripple is waiting for the smoke to clear and then publicly release. Yes, after the litigation dust is settled, Ripple may go to the open market. All in all, this news comes from Ripple investor SBI Group Kitao Yoshitaka Kitao. At this point, everyone is trying to figure out the legal path that might be taken when looking for Ripple . Ripple must still have a long way to go before it is relisted on all exchanges. The suspense between the court halls is still unresolved.
As the legal battle between the SEC and Ripple continues, Judge Netburn demands that the United States The SEC produces relevant internal documents related to Ethereum, Bitcoin and XRP, and restricts The SEC requests information about XRP from foreign regulators. The Bellows Executive’s lawyer wrote: “The SEC’s efforts represent the discovery rule The final operation of the court, enabling it to make discoveries that are beyond the court’s jurisdiction and disrupt The level playing field created by the Federal Regulations. Due to the breadth of such requests and the involvement of foreign regulatory agencies, the defendants I am also worried that Ripple's commercial activities will be left out. " SEC's internal documents may clarify cryptocurrencies in general , Especially the XRP way. It is assumed that these documents may reveal whether XRP is a security contradiction.
In this case, this may be the difference between digital transactions and traditional transactions. Use XRP as currency to open the door . Guys, the discovery phase of this case will last until July, this is the case Critical moment. However, if the case is heard afterwards, we may get some enlightenment and may even list XRP. In addition, the judge also ruled that XRP is a currency; we will see the price of XRP soar. This is because we can now even find wider and more formal business areas Entrance. All of these will increase the enthusiasm of Ripple to go public. The only worry now is that if the cryptocurrency field is crowded with public cryptocurrencies focusing on public List, then investor fatigue may start early. As they said, for XRP, the most important thing is time. The intention of XRP and Ripple is excellence. If the lawsuit is dropped, We will see its full potential. Let’s take a look at the technical analysis to understand how XRP will be in the next period The trend. Now we look at the 4-hour chart.
XRP has 2 options. A break of $1.75 (not yet realized) will push to the new ATH. The high trend line was broken yesterday and has now been tested. A break means that $0.77- $1.20 is still on the table, and we just have a new high Trendline. The volatility is carried out within the structure of the bullish channel, which is near the 1.6525 USDT mark Post correction count to strong support level. Now, the market is at this level and in a state of trading. We expect to move towards our target profit Rise further. If we look at the hourly time frame; 1. The big pennant pattern breaks 2. The pennant is completed and withdrawn 3. Fibonacci retracement is located at 0.618 (golden zone) 4. Fibonacci Extended Safe Take Profit Level 1 (the gray area) is also the length of the flagpole 5. The head and shoulders is very large and the profit level is in the 4.50 range, I think our first goal is US$2, and then US$2.26.
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