Main financial assets discussed: Ripple's native coin XRP, Bitcoin (BTC)
Top 3 key points:
1. Ripple's XRP has seen a surge in investor interest and inflows after the latest ruling in the SEC-Ripple case.
2. Ripple has been actively engaged in partnerships and collaborations, particularly in the development of central bank digital currencies (CBDCs).
3. Ripple is strategically positioned to play a key role in upcoming global payment innovations, particularly with its focus on cross-border payments and its compliance with industry and regulatory standards.
Recommended actions: **Hold** XRP in the portfolio. No recommendation for buying or selling is given.
Ripple CTO David Schwartz clarifies that while XRP Ledger began as a copy of Bitcoin in 2011, it has since evolved and relinquished some of its similarities, addressing flaws and establishing a more sustainable digital asset for payments.
Despite a recent crash, Ripple's largest token holders are accumulating massive amounts of XRP in anticipation of a potential bull market and the outcome of the SEC case.
There is speculation that a partnership between MoneyGram and Ripple may be reinstated, following Ripple's court ruling that XRP is not an illegal security and its return to Coinbase's listings after its legal win against the SEC.
XRP rallied on Sunday, avoiding dropping below $0.50 for the second consecutive day, while Ripple has until September 1 to respond to the SEC filing and the SEC has until September 8 to address any response. Capitol Hill is being watched for potential developments in US crypto regulation.
Dig Perspectives, a prominent figure in the XRP community, is more excited about XRP becoming a world reserve currency than achieving a potential $25 price surge. This challenges the conventional discourse surrounding cryptocurrencies, and while some experts are skeptical, Ripple CTO David Schwartz is more optimistic about digital assets challenging the dominance of the US Dollar as the world reserve currency.
The global digital assets market, including cryptocurrencies like XRP, is projected to account for up to 10% of all assets by 2030, potentially reaching a valuation of over $14.5 trillion, driven by factors such as the growing adoption of cryptocurrencies, stablecoins, and central bank digital currencies, as well as regulatory certainty and institutional investor interest. Pro-XRP analysts suggest that XRP could become the next big thing in the financial market, with the potential for significant returns, especially considering Ripple's efforts to expand its use cases and accommodate tokenized assets.
Ripple Labs could have potentially avoided the SEC lawsuit if it had chosen the right law firm, according to attorney John Deaton.
Crypto analysts predict that the price of XRP may reach $0.60 after the SEC's change in strategy regarding Ripple Labs, with data suggesting that large XRP investors are preparing for a potential price rise.
Top executives from Ripple, Brad Garlinghouse and Chris Larsen, have provided their availability for the upcoming trial in 2024 in the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC), as the SEC appeals the court's ruling that XRP is not a security.
XRP, one of the largest tokens by market cap, has lost a significant amount of value due to bearish sentiment in the market and the impact of Ripple Labs' court ruling with the SEC, reversing its gains from earlier this year.
The Securities and Exchange Commission's (SEC) chances of defeating Ripple in court are slim, as experts believe the court has thoroughly studied all arguments over the years and is unlikely to overturn its previous decision. If the SEC does succeed, it could have significant implications for the crypto market, leading to many companies relocating out of the United States and a decline in cryptocurrency prices.
Ripple CTO David Schwartz continues to puzzle the Ripple community on X platform with a cryptic tweet that sparked speculation about the future of XRP price.
The U.S. Securities and Exchange Commission (SEC) has revealed that the trial for the case against Ripple Labs is scheduled for April 2024, while three attorneys from the SEC's legal team have left the case, leading to speculation about their motivations.
Western Union is considering using Ripple's blockchain technology and XRP token to optimize capital and settle transactions, reflecting a growing trend of major financial institutions incorporating cryptocurrencies into their business.
Former SEC officials’ testimony could have classified XRP as a non-security, undermining the SEC’s allegations against Ripple CEO Brad Garlinghouse.
### Summary
Ripple (XRP) has seen a significant rise in price due to a bullish trend in the cryptocurrency market, positive news about partnerships, and its growing popularity in South Korea. Financial institutions are adopting Ripple's technology for cross-border payments, validating the utility of XRP. However, caution is advised as the market remains highly volatile, and XRP's future performance is uncertain.
Ripple attorneys are preparing for the SEC's appeal in the lawsuit, with a focus on the Howey Test and former SEC official William Hinman's speech, while XRP is at risk of closing September with losses based on historical trends and struggles to start an upward trend.
Lawyers representing Ripple in its lawsuit with the SEC argue that the regulator has not met the requirements to request an appeal in the case regarding the classification of XRP as a security for sales to retail investors.
A recent transfer of a large amount of Ripple's XRP token from Binance to an undisclosed wallet has sparked speculation about its potential impact on the token's price amid the ongoing legal battle between Ripple and the SEC.
Ripple has objected to the SEC's motion to file an interlocutory appeal, arguing that the SEC failed to establish the conditions necessary for approval; meanwhile, Ripple's XRP token has seen a strong start to the month with high on-chain metrics.
A court ruling that declared Ripple's XRP token not a security offering may signal a shift in the US legal system's approach to cryptocurrency regulation and ongoing SEC lawsuits.
The U.S. SEC is seeking an appeal in the Ripple Labs lawsuit, arguing that there are contentious legal issues surrounding the court's application of the law and the Howey Test that warrant a review. The SEC is requesting a stay on proceedings until the resolution of the appeal.
Ripple Labs' legal counsel accuses the SEC of hypocrisy for seeking an appeal in the recent XRP court ruling after claiming that the rules were clear and must be followed.
Ripple CEO Brad Garlinghouse believes that the United States is currently the worst place to launch a cryptocurrency startup, pointing to countries like Singapore, the UK, the UAE, and Switzerland as examples of jurisdictions with more favorable crypto policies. He also criticizes the SEC for its lawsuits against the industry and suggests that recent court wins for Ripple and Grayscale may indicate a shift in the court's perspective. Despite the US being a big market for Ripple, Garlinghouse says the company is expanding services to countries that better understand the potential benefits of blockchain technology.
A federal judge ruled that Ripple's sales of the token XRP to retail purchasers were not unregistered sales of "securities," while another judge ruled that the stablecoin UST and the token LUNA were sold as "securities," setting the stage for the SEC's suit against Coinbase and creating legal uncertainty for the broader crypto industry.
Ripple (XRP) price consolidation may be followed by an imminent rally fueled by rumors of Blackrock's integration of XRP in its crypto expansion strategy, as indicated by on-chain data and trading sentiment.
Ripple CEO Brad Garlinghouse believes that XRP could become the next Bitcoin if it successfully addresses a multi-trillion-dollar problem and leverages its competitive edge in the regulated traditional finance sector.
The XRP price outlook is bullish as the asset tests the supply zone at $0.5174, with the possibility of a settlement in the SEC vs. Ripple lawsuit and Ripple CEO Brad Garlinghouse's criticism of the SEC and Chair Gary Gensler contributing to the altcoin's recovery.
Ripple's native token, XRP, has the potential to make investors millionaires if its price returns to its all-time high, with approximately 294,117.65 XRP needed to achieve $1 million. However, it is important to consider the volatility of the crypto market and to practice risk and money management.
XRP prices rose after Ripple obtained a license to offer key services in Singapore and the SEC lost a bid to appeal the Ripple case, causing trading volumes to spike to $1.7 billion.
XRP, the native token of the Ripple protocol, is the best-performing asset among the top 50 cryptocurrencies, up nearly 4% in the past 24 hours and 6.2% over the week, fueled by a federal judge's decision and Ripple's acquisition of a payments license in Singapore.
The recent court order denying the SEC's interlocutory appeal against Ripple has divided crypto lawyers and commentators, with some considering it a win for Ripple, while others caution against excessive enthusiasm and point out that the SEC can still appeal the case after the trial.
A U.S. federal judge rejects the SEC's bid to appeal against Ripple, causing XRP's price to rally, while FTX founder Sam Bankman-Fried's trial continues with a dispute over the evidence, and a new data platform developed by the Bank for International Settlements could support future regulation of the crypto market.
A crypto analyst expresses bullish sentiment on XRP after a US court rejects the SEC's attempt to appeal a decision in Ripple's favor, stating that XRP sales did not violate securities laws, while also sharing bearish sentiments on Ethereum and bullish expectations for Bitcoin's support level.
The Ripple XRP price experienced a breakout from a descending resistance trendline on September 11, but is still trading below a key resistance area of $0.55, with a bullish outlook suggesting a potential breakout above that level leading to price increases of around 11% to 25%.
Judge Analisa Torres rejected the SEC's motion to appeal its loss against Ripple Labs, allowing the XRP price to surge; however, a trial is scheduled for April 2024 to address remaining issues in the case.
The legal battle between XRP and the SEC continues, with the outcome still uncertain, but there is potential for growth due to XRP's technological capabilities and the possibility of an IPO, although the high regulatory risk should not be ignored.
