if you aren't already aware of the developments happening with this token well you need to know this xrp will be hitting huge highs in the coming months furthermore with these new developments in the lawsuit will xrp hit two dollars before the beginning of 2022 if you haven't already invested in this should you consider investing but first we are giving away 25 xrp coins at the end of the month to one random subscriber to continue their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comments section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe in today's video we are going to be talking about xrp and all of its positive catalysts with the current status it appears that the united states regulatory commission is under pressure as other authorities came in checking the sec's regulatory supervision upon the crypto space well things have already gotten crazier with the government's watchdog on board with this lawsuit empower oversight suspects suspicious activities from sec's side relating to the conflict of interest from most of its important employees however apart from this there has been another event in the case that could be considered as one tiresome for ripple especially xrp till now we have seen the entry of empower oversight a non-profit organization that submitted a detailed request under the freedom of information act to the u.s securities and exchange commission seeking communications between sec officials and their current and former employers well the organization believes in the conflict of interest from sec's employees the first target for the same as william hinman we are sure that you have heard his name several times in this lawsuit he has been pretty famous william hinman was the former sec director of the division of corporation finance who once in a speech spoke that bitcoin and ethereum or not securities he declared them as cryptocurrency furthermore the organization noted that only after hinman left the sec to work with simpson thacker in december 2020 the sec filed the suit on ripple simpson thacker is important here because before hinman joined the sec he was a partner there and after leaving the sec he returned as a partner this firm is a part of the enterprise ethereum alliance an industry organization whose objective is to drive the use of enterprise ethereum this was not it the leader of the sec division that brought the xrp lawsuit mark berger similarly left the sec for simpson thacker the former sec chairman jay clayton also walked away in the same manner the organization suspects jay clayton on the handling of cryptocurrency issues at sec mr clayton responsibly declared that bitcoin was not a security mr clayton's career at the sec ended with the filing of the scc's case against ripple mr clayton joined one river asset management a cryptocurrency hedge fund focusing solely on bitcoin and ether after leaving the sec on the latest developments on the request the court had to extend the deadline of the fact discovery date due to the accommodation of the depositions of brad garlinghouse and chris larson a joint motion has been filed by the securities and exchange commission ripple labs and the individual defendants demanding a fact discovery deadline extension this might be a disappointing turn of events for everyone involved in the industry from xrp investors to digital asset exchanges fintech firms partners and clients who want this case to be concluded as quickly as possible the request asks the court to allow the sec to take garlinghouse and larson's depositions after the fact-finding deadline of august 31st 2021 both the parties have made such a request due to the unexpected illness of an attorney for one of the parties integral to the deposition of chris larson well the court did agree to extend the date for the fact discovery that means the scheduled expert discovery date will also be extended the parties may take defendants brad garlinghouse and chris larson's depositions after the fact discovery deadline of august 31st has passed the judge ordered the expert discovery deadline has been extended to november 12th the time for the parties to exchange their respective statements of important facts and promotion letters addressing applications for summary judgment as required by local civil rule 56.1 has been adjourned sign die pending the decision of the motions to dismiss and strike the concept of adjourned sign die was explained by james phelan as a specific date that has not been set for the filing of the pre-motion letters because such dates are dependent upon when the court makes a decision on the pending motions to strike and dismiss those motions must be resolved before the additional documents can be filed and we have no idea when they will be resolved well this is the second time the dates were being moved by the judge a few months ago the sec was granted the request to extend the fact and expert discovery date by 60 days despite the opposition from ripple this time even ripple labs agrees to the decision now the real question remains when will this suit get over as per the calculations by james phelan this is a war i think we should settle in for the long haul this extension has given sec an upper hand in the suit stating that there is no realistic prospect that the parties will fully resolve this case for several months if not longer in its recent motion well things in the sec versus ripple lawsuit do not fail to turn a reverse turn despite the court order being in the favor of the sec there are higher weights on ripple's palm and evidence dated to 2019 can now be potentially considered as a critical evidence for ripple's fair notice defense to showcase whether xrp is a security or not previously on the lawsuit john deaton representing over 12 000 xrp holders filed a motion to intervene in the matter to safeguard their own rights even though the court ordered in favor of the intervention the matter was pending after an objection was filed by the sec well on the 26th of august 2021 john deeden shared a video on twitter from consensus 2019 titled perspectives on sec engagement concerning digital assets this video was originally shared by a twitter user crypto council o2 we here in the participants talked about scc in the digital space as per the transcript made available by the website finance feeds the conversation clarified that before coinbase's listing took place for xrp coinbase had issued their desire to ensure xrp wasn't a security for the same the platform makes sure that their quality legal team analyzes tokens to ensure that they are not securities before coinbase lists xrp according to coinbase's regulations and policies listing a security will be violated for the securities laws however with the emergence of the lawsuit the platform delisted xrp but their view is still a stunt that xrp was not a security from february 2019 to january 2021 furthermore the video also confirmed coinbase's transparency towards the framework and the process with actual and potential regulators john deeden said if xrp holders are given the opportunity to be heard in this matter john deedon said this is some of the information he will submit on their behalf to illustrate that regardless of whether xrp was a security in 2013 to 2017 it's absurd to suggest that today's token is a security the video also featured amy starr chief of the office of capital market trends in the division of corporate finance of the sec and dorothy dewitt general counsel for business lines and markets at coinbase amy starr is likely one of the fact witnesses from the sec that ripple opted to depose in addition to william hinman on whose deposition her name was mentioned he added of the sec official in the video according to john deedon dorothy dewitt coinbase's general counsel of business lines and markets made these comments three months after coinbase listed xrp he further explained xrp was internationally recognized token expressly as a non-security in addition to this sec being a formal governmental regulatory body was an expert in understood blockchain technology yet it chose to bring a lawsuit against ripple after eight years therefore clayton's last day was even more arbitrary capricious and suspicious considering the given circumstance the sec are indeed in pressure now fate is in the judge's hands but till then xrp's price is surely in your hands the recent developments on the matter are positive for the token in that case xrp is likely to be declared as a digital asset and not a security from a technical perspective the token is trading at one dollar and 14 cents with a green of 0.32 percent a positive trend indicating a bullish atmosphere on xrp however if the token wants to validate a strong rise it will first have to break out from the 1.19 resistance mark since ripple has already announced a new development in terms of smart contracts that could potentially drive xrp ledger to challenge ethereum and bsc the same target does not seem very far rather a minor push will lead xrp to the high resistance marks you are advised to keep a robust eye on this token because it is likely that xrp will shoot by the start of 2022 the price rise is also expected to begin as early as november if the bull continues to remain high so if you see xrp going up get into it as fast as you can 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 kindly note that 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 [Music] you

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