Today, we will explore the latest developments in SEC litigation and why Garlinghouse hopes The SEC conducts new management and technical analysis of XRP. Subscribe and click on the bell (if you don't already have one) and let us learn more about it. Welcome to the money party! What is the latest development of the litigation? Faced with the SEC’s allegations, Ripple refuted the SEC’s arguments and published In response, it was pointed out that because the cryptocurrency XRP is not within the jurisdiction of the SEC, and It has been recognized as a virtual currency by several other global regulatory agencies (including those in regulatory agencies).
Britain, Japan and Singapore. Last week, the SEC refused to provide documents related to Bitcoin and Ethereum, arguing that This request has nothing to do with this case. However, Ripple Labs on March 26 Submitted a reply letter to Sheriff Sarah Netburn, requesting the SEC to submit the required documents. Because they don’t understand why Ripple is considered security, while Bitcoin and Ethereum don’t. Is it considered safe? A lot of things happened in the three months after the case happened. In particular, Ripple’s price has been damaged and has been And many exchanges time out. However, as the case progressed, the price of Ripple has gone from $0.18 The lows rebounded. Judging from the current situation, there are mainly four motions in this case. The first is to force the company to find out that the CEO Garlinghouse (Garlinghouse) and Chairman Larson (Larson) Documents related to financial information. The second is the SEC's motion against Ripple's fair notification defense. The third is Garlinghouse and Larson's motion to dismiss the lawsuit against them. Finally, Ripple filed a motion asking why the US Securities and Exchange Commission (SEC) took 8 years to take legal action.
Now, US Judge Sarah Netburn has instructed both parties (SEC and Ripple) to A telediscovery meeting will be held on Tuesday, April 6, 2021. The holder requested that XRP be relisted online. Cryptocurrency industry and investors Watching the SEC's lawsuit against Ripple. Not only determine XRP’s Legal status, and can set any legal precedent for other cryptocurrencies. In terms of market value, XRP is currently the seventh largest cryptocurrency in the world, with a market value More than 25 billion U.S. dollars. The price of XRP has risen by nearly 20% in the past two weeks, and the current trading price It is US$0.56, which is close to the level in December before the lawsuit.
Possible reasons why holders are actively calling for XRP to relist It is a new development in this situation. The judge questioned the SEC lawyer, "Everyone selling XRP-including you and me-is in Selling illegal securities". The SEC lawyer replied: “No, under Section 4, only Ripple and Ripple’s branches can "Illegal sale of XRP", and "everyone who sells XRP" did not sell "illegal Securities". The answer of the SEC lawyer can be interpreted as that outside the U.S. Crypto exchanges will not be responsible for XRP trading. However, only the final result can tell whether the US exchange "relisted" XRP. Bexplus analysts believe that even if XRP loses, the price of XRP will not Should fall to the case of being litigated from the beginning, because So far, not all exchanges have delisted it. For example, exchange giant Binance still supports XRP trading, while Huobi supports XRP trading . Ripple CEO Brad Garlinghouse (Brad Garlinghouse) blasted the SEC, against the new government Hopeful Ripple CEO Brad Garlinghouse (Brad Garlinghouse) against the SEC lawsuit and Dissatisfaction with the current state of the US regulatory framework surrounding cryptocurrencies.
He also mentioned the upcoming dialogue with the incoming SEC team. Garlinghouse and Bloomberg Technology The Securities and Exchange Commission discussed the company's lawsuit. Garlinghouse stated in the show that the lawsuit is not only an attack on Ripple, And it's an attack on the entire cryptocurrency industry. The disaster began when the regulator called Ripple in a lawsuit in December last year. The SEC accused Ripple of allegedly conducting unregistered securities issuance. The debate about the native XRP currency classification was born. Ripple effect Ripple strongly opposes the SEC's actions against XRP Classification. It believes that XRP is not a security, but a cryptocurrency similar to Bitcoin or Ethereum. In the past few months, this legend has heated up, and Brad Garlinghouse said they will "Vigorously" counter these allegations. He further pointed out that the US Securities and Exchange Commission is the only Of securities regulators.
The lawsuit had a short-term catastrophic impact on the company. After the lawsuit was announced, the price of XRP dropped by more than 70%. Many exchanges even delisted XRP to avoid facing SEC sanctions. In the past month or so, it has seen some relief, and it is currently trading at $0.56. The new SEC administration may turn the tide a few days later, by Jay Clayton (Jay Clayton) The SEC led by Clayton sued Ripple. This has aroused many people’s suspicion that the lawsuit is against Ripple and its founders Brad Garlinghouse and Chris.
Personal attacks. Larson Garlinghouse said; "You may know or remember, J. Clayton The day before he became the chairman of the U.S. Securities and Exchange Commission (SEC), he Ripple and myself A lawsuit was filed. You know, given that XRP has been trading for eight years, we don’t think it makes much sense . Therefore, in order to do this, the day before his departure, I think this was misguided.
" Ripple wants Gary Gensler Take over the affairs of the U.S. Securities and Exchange Commission (SEC), It seems that it is more than hope. After some professional Bitcoin comments in the past, Gensler seems to be open to cryptocurrency . When asked about the possibility of a settlement, Garlinghouse shared his views on the new government This kind of optimism. He said; "I hope Gary Gensler and The new chairman may be confirmed in a few weeks. When he leads the team to join, he has the opportunity to have a dialogue with the new leader . " Garlinghouse's words are hopeful for us. Let's take a look at the chart. If we look at it from a 2-hour time frame perspective, please ignore FOMO and ignore the hype. I am very optimistic about XRP, but I want to know what will happen in the future so that I can buy more at a cheaper price product.
Recent events, established organizational structure and things to look forward to in the near future . XRPUSD has completed a huge triangle pattern from a global perspective and moved upward Bullish, and initially showed a solid bullish trend with further continuation potential. Now, looking at a more localized time frame, I find XRPUSD has established a decisive pattern, which can be continued and confirmed for the next The bullish conclusion that has been formed. Therefore, I discovered all the important aspects and possible destinies that we should consider.
Just like looking at my chart, we can now see how XRPUSD formed this main widening wedge structure , Blue mark and extract the border. In this formation, XRPUSD has a wave number coherent with waves A to E, which is almost Having been completed, wave E enters the upper limit and tests it. Now, XRPUSD continues to maintain stability within the wedge, and when it succeeds This can be a condition for a breakout when further stabilization is bullish. When XRPUSD manages to finally rebound to the upper boundary and close steadily above that boundary , Will be done for the next upward trend when the wedge is finally completed Ready, this will also confirm the wave number and the number of waves in these Main conclusion C After appearing, XRPUSD designated the initial target near the 0.64 area, so It must improve how it continues to move from the area and whether it has the potential to reverse Or continue, in this case, because XRPUSD has important resistance on a global scale, so The possibility of reversal is unlikely. Please remember that we are not a licensed financial advisor. All videos on this channel are for entertainment purposes only.
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