in the midst of the court battle between the two corporations ripple is attempting to uncover sec workers crypto holdings as a form of retaliation will there be another surge in the xrp prices watch till the end to find out because this will double your money you'll make more money before we get into the video don't forget to drop a like on this video and subscribe to the channel if you haven't already make sure to enable all your notifications to our channel to keep up with all the hottest secrets in the world of xrp without further ado let's dive in 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 since december 2020 the u.s securities and exchange commission sec's lawsuit against ripple has piqued traders interest in the crypto community as the xrp army a group of xrp investors and traders steps forward to safeguard their interests the case is nearing a close case dismissed for its part ripple wants the u.s securities and exchange commission to identify whether its workers have xrp or other cryptocurrencies in their possession as part of its lack of fair notice and regulatory clarity defense the business is attempting to get the regulator's internal trading policies the san francisco-based firm alleged in its motion filed in new york that the sec has failed to provide critical information that it needs to comprehend the regulator's internal digital asset trading procedures it wants the sec to reveal if it permitted its employees to retain xrp the company's native digital currency that is at the focus of the securities fraud case ripple has been struggling for months to gain access to the sec's internal trading policies we've been trying for years judge sarah netburn decided in june that the agency must provide ripple with these policies ripple's legal team admits that the sec did release certain papers this however is insufficient the sec issued ethics guidance regarding digital assets which revealed that it had not put any limitations on workers having digital assets until january 2018.

This is consistent with the sec not viewing digital assets as securities according to ripple the sec began to expand its securities policy to digital assets in 2018 according to this document furthermore ripple claims that it left a lot of room for interpretation because it did not say that all digital assets are securities rather it delegated this decision to its pre-clearance which would assess the digital assets on an individual basis as a result without the pre-clearance records which the sec has refused to give defendants cannot know whether the sec truly forbade or authorized transactions in xrp bitcoin or ether it says apart from claiming a lack of fair notice ripple has been trying to get the sec to explain whether it exempted ether and btc from being classified as securities as former director bill hinman famously asserted according to its defense ether is not a security and xrp is similar to ether hence xrp is not a security the sec lawsuit claims that since 2013 the distribution of xrp has been one long unregistered securities trade and that xrp is a security according to the agency everybody who traded or transferred xrp in the last eight years should have been aware that it is a security this was the final straw in the case that sparked the xrp army's display of force this is different they've crossed the line one of the army's great personalities on crypto twitter is john deaton the founder of cryptolaw.us there are many others within this community that provide invaluable input and research relating to battling the at sec gov's war against xrp notice i didn't say war against at ripple ripple has an impressive legal team to represent it hashtag xrp holders motion to intervene is pending since ripple labs created the altcoin and remains one of the largest holders updates in the legal actions against the company have had an indirect impact on the xrp price this has prompted xrp holders to use crypto twitter and youtube to protect their investments and the altcoins price xrp army has posted tapes of former sec commissioner robert jackson encouraging slow-moving formal decision making the xrp army painstakingly monitors every proceeding in the sec versus ripple lawsuit on social media and the content has reached millions of crypto traders through twitter and youtube 70 million people are watching this the sec's request for audio and video recordings of ripple staff meetings is the most recent development in the case despite the fact that ripple labs failed to disclose to the plaintiff that meetings were frequently recorded the agency claims to have heard of this on august 4 from ripple's former chief compliance officer antoinette o'gorman ripple labs replied by filing a motion for data on sec employees xrp holdings after the sec ordered them to produce the recordings the sec has been given until september 3 2021 to answer ripple lab's application according to the court in the motion ripple labs argued that earlier attempts to collect the requested material from the government had failed we met and talked with the sec on this subject on july 8 july 15 august 18 and august 25 without progress according to the defendants though ripple labs is making progress the xrp army's support has caught the attention of the mainstream media and piqued the interest of xrp traders and investors almost every update has had an effect on the price of an altcoin come on this affects all of us man with the new turn of events the altcoin is expected to make an upsurge after remaining range bound below one dollar and fourteen cents according to fx street analysts xrp's odds of reaching two dollars have improved after forming a bullish charge pattern the price of xrp is expected to rise 46 furthermore as the sec versus ripple lawsuit continues to unfold the cross-border remittance token may be anticipating a minor triumph on the 12 hour chart xrp is forming a bull pennant implying a 46 up surge if the governing chart pattern holds ripple's upbeat prognosis may come true as the blockchain company is nearing a dispute hearing a telephone meeting with judge serenetburn in the sec versus ripple case has been scheduled to resolve a privilege issue over the agency's internal records on ether and xrp the regulator has long claimed that these documents are protected by the deliberative process privilege dpp but the judge has previously denied this claim i agree motion denied mr stamplin the documents have been deemed significant to ripple's fair notice case and may give light on the agency's inconsistencies in assessing whether xrp is regarded as a security by the court a positive attitude could impact the price of xrp as a result of ripple's tiny success the 78.6 fibonacci extension level at 1 and 21 cents is currently acting as a resistance for the cross border remittance token and a break above this level may see the currency hit the top boundary of the chart pattern at one dollar and 23 cents only a strong break above this level might push xrp to the bullish target set by the bull pennant pattern at 1.76 which also happens to be the 161.8 fibonacci extension level before the optimistic game can be reached ripple must first conquer the swing high at 1.35 cents and the 127.2 fibonacci extension milestone at 1.53 cents only a surge in volume combined with a slice above the upper threshold of the chart pattern would shatter the bullish narrative according to investors if the bullish prognosis for xrp pricing fades there is another option the current setting also shows that ripple is creating a symmetrical triangle awesome giving the token a measured objective of a 22 percent jump to one dollar and 47 cents if it cuts above the chart pattern's top side trendline xrp price would find support at the lower boundary of the triangle which corresponds to the 50 12 hour simple moving average sma and 61.8 percent fibonacci extension level at one dollar and 10 cents if it failed to sustain itself above 1.21 cents while this level would operate as a strong barrier further support at the 50 fibonacci extension level could emerge only if xrp experiences a surge in selling pressure in recent months xrp the world's sixth largest cryptocurrency has attracted increasing retail and institutional attention as a result the digital assets price soared from 22 cents on january 1 2021 to 1.95 cents on april 14 2021.

The cryptocurrency is still trading near 1.20 despite the market drop in june and july the network activity of xrp is one of the main causes of its recent rebound to take advantage of the current price spike xrp whale addresses are on the move once more on wednesday september 1st 2021 a major xrp whale address moved more than 48 million coins worth about 56 million dollars to an unknown wallet according to whale alert on-chain analytics and blockchain tracking firm at 0-0-31 utc the aforementioned transaction was logged on bithomp.com the most recent transaction came nearly a month after two of the most prominent xrp accounts exchanged nearly 124 million coins in two separate transactions a well-known xrp address moved 176 million coins from an unknown wallet in june 2021 ripple a blockchain firm based in san francisco just released its quarterly report which noted an increase in xrp whale accounts xrp's market worth has risen significantly in the recent four weeks after worldwide money express gme joined ripple net the global financial network of blockchain firm ripple the aggregate market cap of the world's sixth largest digital asset rose above 40 billion dollars on august 11.

on august 15 2021 the cryptocurrency momentarily overtook the stablecoin tether in market capitalization usdt the current market capitalization of xrp is roughly 55 billion dollars usdt has a market capitalization of almost 65 billion dollars the recent cryptocurrency rise has increased retail interest in xrp aside from the recent whale moves global digital currency trading volumes have surged dramatically in the last four weeks and with that we have come to the end of our video we hope you enjoyed the video and let us know in the comments how much your crypto will be worth next year make sure to subscribe and give us a thumbs up see you later.

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