Bear in mind that before the SEC lawsuit, XRP-USD traded around 60 cents. InvestorPlace - … The confirmation hearing date for the new SEC chairman Gary Gensler has been set for March 2, 2021. By John Kiguru 7. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The Judge made a … April 2021. 1125 N. Charles St, Baltimore, MD 21201. 6. Plus500. The SEC claimed that Ripple Labs, in selling XRP, had engaged in an unregistered offering of securities. Earlier in … Ripple’s ongoing battle with the SEC continues on May 21. When will the Ripple (XRP) case be concluded? Article printed from InvestorPlace Media, https://investorplace.com/2021/05/curious-case-of-rising-ripple/. The SEC v.Ripple lawsuit is inching ahead with every passing day. In the fourth quarter of 2020, Ripple recorded $76.27 million sales net of purchases which grew to $150.34 million in Q1 2021. The SEC recently requested an informal meeting to review all of Ripple’s previous legal counsel, with the department urging the court to order the defendants to submit all appropriate information. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. A major holder reportedly is selling aggressively. It emerged that the U.S. Securities and Exchange Commission (SEC) was building a case against Ripple, and its two most senior executives, over securities fraud. That’s part of the reason the asset class is so polarizing. Ripple claims that this is an intimidation tactic by the SEC to deter … He’s been selling 17 million to 18 million XRP each day of late, garnering over $20 million daily in the process. Meanwhile, it’s also a bit early for celebration (or to listen to legal ‘experts’ on social media). In addition, it is estimated that Ripple will face high damages after the litigation process. on. Dogecoin (DOGE) Price Predictions: Where Will DOGE Go After the Crypto Crash? Against seemingly all odds, Ripple has soared of late. The case was taken to court in 2018 and the consolidated complaint was filed on Aug. 5, 2019. One of Ripple’s biggest holders continues to sell, according to one analysis. By. The sales appear to have been going on for some time, so there’s no thought that McCaleb has some confidential information about the SEC case or about Ripple Labs itself. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. XRP News today: Could Ripple court case be over in July 2021. 9 Things for DOGE Investors to Know. One argument is that anything is worth what someone will pay for it. That’s value. The reason we can be confident that the XRP token will jump whatever the outcome of the SEC case is down to historical precedent and what the SEC wants out of it. The post Ripple Is Set To Move When SEC Court Case Resumes May 21 appeared first on InvestorPlace. The two will have a remote conference overseen by Judge Sarah Netburn. Recent court documents reveal that Judge Sarah Netburn insists that the SEC disclose internal documents discussing Bitcoin and Ethereum. The SEC isn’t interested in pursuing criminal charges against Ripple’s founders, meaning that any punitive action is going to be financial in nature. Ripple has filed a new motion accusing the SEC of violating U.S civil court rules by reaching out to its foreign partners behind its back. By. But it might also highlight the core problem for crypto adherents: the centralized nature of the coin. The Court Case. MAJOR XRP RIPPLE UPDATE: Most POWERFULL Woman In Crypto: Reviews RIPPLE / XRP Case! If the court decides to accept XRP holders into the case as “friends of the court,” the SEC would request an additional four months for the discovery process. Adidas, Nike Web Sales Plunge in China Amid Xinjiang Boycott. This marks Ripple’s second court win in a week against the SEC. All rights reserved. The motion to intervene on behalf of XRP holders was granted by Judge Torres in late March, following the unsuccessful attempt by the SEC to oppose the move.It sets out to bring the views of 12,600 XRP holders into the case. The San Francisco-based blockchain payments firm … Earlier this week, the Judge allowed the firm to receive access to SEC’s internal discussions about Bitcoin (BTC) and Ethereum (ETH). 2021 InvestorPlace Media, LLC. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. Lavina Daryanani. Since cryptocurrency is so new, investors often look to stock markets for a clue as to what Ripple, or any other crypto may be worth. That puts Ripple ($141 billion) squarely between AstraZeneca (NASDAQ:AZN) and China Life Insurance (NYSE:LFC) and their respective market caps of $141 and $143 billion. But with the lawsuit underway, Ripple Labs seems to be scoring some wins. Copyright © The regulator claimed XRP holders are too partial to serve as Amici, and their participation as “Elevated Amici” who are exempt from discovery prejudices the SEC. We could do the same for China Life Insurance, but I won’t bore you. AstraZeneca posted Q1 2021 revenues of $7.32 billion. The point is not that I can answer that question. “The complaint alleges that Ripple … Ripple case update: Judge insists SEC produce BTC and ETH ‘missing’ documents. Settlement? That said, it’s difficult to peg the court case as the only reason for the gains. Most people either hate them, claiming them to be a pyramid scheme, or love them, claiming that they’re the future of finance. Jed McCaleb was the co-founder and chief technology officer of Ripple Labs when the coin was developed. On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article. Ripple and its executives have asked the court to dismiss the case. AstraZeneca posted Q1 2021, For now, investors have to settle simpler occurrences like Elon Musk declaring that. Even reports of a possible initial public offering for the coin’s developer don’t necessarily seem like good news. Although there is no official statement, some analysts think that the trial process could be concluded in the first months of 2022. In the fourth quarter of 2020, Ripple recorded $76.27 million sales net of purchases which grew to $150.34 million in Q1 2021. did not have (either directly or indirectly) any positions in the securities mentioned in this article. What some major price predictions are showing post-lawsuit! The case between Ripple Labs and the SEC continues to make headlines four months after the regulator initiated the lawsuit at the end of 2020. Ripple Is Set To Move When SEC Court Case Resumes May 21. Here’s one way of looking at Ripple vis-a-vis AstraZeneca. 7 Short Tokens Soar as Investors Aim to Cash In on the Carnage >>> READ MORE, Louis Navellier and the InvestorPlace Research Staff. What Did the Stock Market Do Today? May 2021. As of this writing, XRP-USD sits at $1.36. 7 Altcoins That Should Live Long After The Crypto Bubble Bursts, Will Crypto Recover? 76.4% of retail CFD accounts lose money, Here’s one way of looking at Ripple vis-a-vis AstraZeneca. quotes delayed at least 15 minutes, all others at least 20 minutes. Most of us are left using tools from the equity market bag — “market capitalization” or chart analysis — that don’t snugly fit in the crypto world. Currency remittance and pharmaceuticals are entirely different industries admittedly, so this is not an apples to apples comparison. Commerce Policy | But one thing we do know about Ripple is that it’s been on absolute fire. Plus more Ripple news as they ad a big name to their board of directors! Still, the amount of selling is material, and in normal markets would at least seem to provide a brake against a rally. A federal judge has granted a motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) request to peer into years’ worth of financial records belonging to Ripple … The point is that no one can, or at least no one has proffered any widely accepted valuation method for cryptocurrencies. May 1, 2021. The latest twist in the SEC vs. Ripple lawsuit has the U.S securities regulator file a reply memorandum in further opposition to the motion to intervene, a new filing shows. Are Dogecoin Smart Contracts Coming? Major exchanges including Coinbase (NASDAQ:COIN) pulled the coin from their offerings. And the court case isn’t the only thing working against XRP at the moment. After spending time at a retail brokerage, Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. There are at least a few ways of understanding the value of Ripple. I don’t know that I necessarily agree with that argument, but if that is indeed the case, then Ripple is worth $1.53 at the moment. 16. XRP price plummeted in the last several days, losing 55% of its value. Reports indicate that the conference will be about the SEC’s attempts to contact and acquire documents from Ripple’s foreign regulators. Ripple hopes to build an argument on the similarity between Bitcoin, Ethereum and XRP. In any case, when we compare Ripple against a more traditional company of similar market cap, we end up giving Ripple a premium. The SEC also asked the judge in the case to block Ripple and its executives from accessing internal records. Even though that’s down from $1.90 less than three weeks ago, the price still represents over 470% gains in 2021 alone. I digress in any case. So look out for it. Up front, let’s be clear. 3 Big Stories to Catch Up On. To be fair, this isn’t like an insider or even a former insider dumping shares of a company. Jibin George. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com, Registration on or use of this site constitutes acceptance of our, Ripple Is Set To Move When SEC Court Case Resumes May 21, Lumber prices fall for an 8th straight day, deepening a roughly 30% pullback », Meet Zhang Yiming, the secretive Chinese billionaire behind TikTok worth $44 billion who just stepped down as ByteDance CEO », Malawi destroys 20,000 expired doses of AstraZeneca vaccine, AstraZeneca : New Data From MELTEMI Trial Confirm Long-Term Safety In Severe Eosinophilic Asthma, Senate Republicans ask Biden to walk back support of waiving vaccine IP protection, Malawi burns 20,000 expired AstraZeneca doses despite pleas, New data shows long-term efficacy of AstraZeneca's FASENRA in eosinophilic asthma, 7 Best Biotech Stocks To Buy in 2021 as Innovation Takes Center Stage, AstraZeneca jab followed by second dose of Pfizer vaccine is 'highly safe and effective', Spanish study finds, AstraZeneca/Oxford's third booster shot induces "high antibody response", study shows. Alex Sirois, InvestorPlace. All rights reserved. Source: Pixabay. So far, crypto investors have taken Ripple’s side. The simplest answer for the rise in Ripple of late is that its court case is going well. The U.S. Securities and Exchange Commission tanked XRP in December when it announced a suit against Ripple Labs, the developer of the coin, along with individual executives. At the least, social media seems wildly optimistic. “The question of whether XRP is … The question is whether there’s a somewhat hidden logic underneath the trading — or whether Ripple is another beneficiary of a frothy, even dangerous appetite for seemingly every ‘altcoin’ out there. + Huge ETH Pump! Ripple investors will want to keep May 21 on their calendars. Ripple will move after the news related to that meeting becomes public knowledge. Trillion Dollar … The simplest answer for the rise in Ripple of late is that its court case is going well. Given that the case could in theory drag on for years, the comments suggest that Kitao believes a resolution might arrive sooner than that. Recent victory. Attorney John Deaton’s filing of a motion to intervene two weeks ago was a spanner in the works for many who expected the ongoing lawsuit between the United States SEC and Ripple Labs to … Don’t Bet Too Heavily on Ripple As Court Case Continues Josh Enomoto 4/21/2021. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). May 6, 2021. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.”. Tweet. Cryptocurrencies more broadly took a big hit last month; XRP joined in the sell-off but sharply rebounded. Yet here we are. The SEC has real power. XRP plunged on the news. What’s particularly surprising about the rally is that seemingly everything has gone wrong for Ripple, rather than right. The case has a long ways to go. A few days ago, CFTC Commissioner Stump has expressed the CFTC’s attention to the lawsuit filed by the SEC against Ripple Labs and its co-founders for having sold more than 14.6 billion XRP tokens worth $1.38 billion in an unregistered offering, according to the complaint. This latest drama comes after the SEC made their own request that the court deny a motion from Ripple Labs. The SEC seeks documents relating to advice Ripple received regarding its regulatory status. Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC). Then we wait for the repercussions to reverberate through the markets. The optimism toward the SEC case may have received some help based on comments from a key Ripple Labs shareholder. In the same, the SEC alleged that Ripple executive … For now, investors have to settle simpler occurrences like Elon Musk declaring that Tesla (NASDAQ:TSLA) will no longer accept Bitcoin (CCC:BTC-USD). The lawsuit is currently in the middle of a heated “discovery battle,” with both sides gathering evidence to strengthen their positions. An IPO that makes insiders rich is precisely the outcome that decentralized currencies are trying to avoid. The timing of the XRP rally — which accelerated sharply in early April — seems to line up. When it comes to cryptocurrencies like Ripple (CCC:XRP-USD), certainty is impossible. A huge court case hangs over the company. So, as I said, investors are often left utilizing the latest catalyst such as news in order to determine where a crypto will go. Court case continues. Right after Ripple filed its Memorandum of Law in opposition to the SEC’s motion to strike on Thursday, the regulatory body reverted back with its own Memorandum of Law, one requesting the court to deny the individual defendants’ motions.. But what does that really mean? CFTC eyes SEC v. Ripple for regulatory clarity. May. They got caught. Disclaimer | 1125 N. Charles St, Baltimore, MD 21201. 4. Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Go back to October and Ripple was worth about a quarter. History is on Ripple’s Side. However, less than 10 days ago, all of that came crashing to an abrupt end.. The buying strength of the crowd simply may be enough to overcome the selling from McCaleb’s account. While Ripple has had some promising results prior, the fact is that the case is not settled. It might draw some incremental institutional interest. The Ripple vs. SEC lawsuit has the U.S. Securities and Exchanges Commission deny possession of internal documents relating to Bitcoin, Ethereum, or XRP, as they relate to securities, a filing on Court Listener reads.. Ripple’s defense team considers this critical to the case by establishing how the SEC determines securities classifications. 4 Analysts Weigh In on Whether Bitcoin Will Bounce Back, 7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin. Made In NYC | According to CryptoLaw, the SEC has allegedly violated US civil court rules by issuing multiple MOUs in the case, it was noted that: Behind the judge’s back, the SEC violated U.S. civil court rules by issuing multiple “MOUs” to obligate foreign govts to obtain files from @Ripple‘s foreign business partners. Lastly, the financial watchdog says XRP holders inappropriately seek to expand the issues in this case. The first person to propose a widely accepted model by which markets can truly understand crypto valuation is going to be a front runner for the Nobel Prize in Economics. The answer is nobody really knows where a given cryptocurrency’s value comes from. One of many interesting questions about the future XRP price is whether that sentiment will hold without the SEC as an opponent. Ripple formally responds to SEC lawsuit. Regardless, AstraZeneca recorded 48.8X the sales Ripple did in the same period. It’s nearly impossible to define exactly what a cryptocurrency should be worth. The hearing showed that the case the San Francisco fintech was based on an illogical premise. The lawsuit battle between the United States’ independent agency Securities and Exchange Commission (SEC) is still going, and it continues to gain momentum with the passage of time. The court has approved a schedule for the Ripple vs. SEC lawsuit. Investors want to know what cryptos like Ripple (CCC:XRP-USD) are worth. High Stakes Ripple case against SEC puts 1 woman front and center! Stock quotes by finanzen.net, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Just weeks ago, XRP was outperforming Bitcoin, and everything Ripple related was coming up roses. the amount by which AstraZeneca outproduced Ripple in pure revenue terms? Now, I had thought that the lawsuit might have a similar effect, as it detailed nine-figure paydays for Ripple Labs insiders. Essentially we’re left comparing market capitalization of Ripple against that of similarly capitalized stocks, and then making a subjective judgment as to whether we believe the value of Ripple’s actual business – currency exchange and remittance – justifies it as being equivalent to the stock with which it’s being compared. The head of SBI Holdings (OTCMKTS:SBHGF), Yoshitaka Kitao, said on his company’s earnings call that Ripple Labs would look to go public once the case was resolved. 01 February 2021. Ripple Labs has already been victorious over the SEC this year amid this lawsuit. The SEC plans to use this as a litmus test to determine if Ripple’s XRP offerings and sales were in accordance with federal securities laws. A discovery conference scheduled for April 30 is the next step in the case, says defense lawyer James K. Filan. No Comments. 17, 2021, 01:55 PM. Accessibility Statement | Source: Pixabay. Nasdaq It’s an interesting argument as to whether a Ripple Labs IPO would be a good thing for XRP. Recently a telephonic conference between both of these parties occurred on the 30th of April, 2021. It’s nearly impossible to understand what drives short-term moves. All rights reserved. It’s worth noting that the bull run of Ripple’s native digital token has only intensified after the latest court ruling. McCaleb since has moved on to Stellar and its coin, Stellar Lumens (CCC:XLM-USD). Copyright © 2021 InvestorPlace Media, LLC. For its part, Ripple Labs maintained that Ripple remains a currency. Yet XRP has bottomed and climbed sharply even into the wave. I can’t. Is that premium 48.8X, i.e. What Is The Us Strategy For Cryptocurrencies and Blockchain? SEC says XRP holders are ‘no friend to the court’ in case against Ripple . Unfortunately there’s no tried and true way to put a clear number on where any crypto should trade. The SEC v. Ripple case is gaining momentum with every passing day. I fall in between, and basically I want to know what Ripple has in terms of real world utility, and the value of that utility.
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