In this article we are going to see about Ripple XRP: The Most EXPLOSIVE News We've Had This Month!
- What’s up, guys? I hope you are all having a fantastic day. Now, today we have some insane news that I’d like us to discuss in this ARTICLE. This is one of the most explosive news we’ve had this month. So be sure to stick to the end to capture all the juicy details. But before we proceed, let’s head over to Coinmarketcap.com and see how XRP is fairing in the crypto market. We are still in the above one-dollar consolidation point, but it’s good to see all our progress. With that said, let’s roll that beautiful intro and dive right into today’s main agenda. we have this tweet from @nietzbux that says, “So identiti is helping the 11k Swift member banks update for ISO20022, and they just filed a patent to use XRP in a settlement system they are creating that overlaps with Swift”.
- And the patent was filed in the United States! While there is a case going on in the US! That’s how we know this whole Ripple Vs. SEC lawsuit is just a show. This is a patent for a new system that would most likely use XRP for bank-to-bank settlement, as that is the coin they cited in the patent. If they actually build this system and use XRP, it would be a good use case and drive demand. Even with all that has been happening, it’s either Swift works with XRP, or it vanishes away. But from the look of things now, they will be working with Ripple and using XRP. This is something we just can’t make up! Yet another tweet from @nietzbux says, “Going through this patent is wild. There are examples of HSBC UK settling payments with HSBC China. The gist is…. ‘Preferably, the blockchain settlement system employs the Ripple protocol.’ XRP is the only coin mentioned as a settle mechanism by name.” It’s all before our eyes, guys! XRP is the chosen one. I just can’t wait until all is said and done, as we will know that we have been right all along. Again from @nietzbux, he tweeted, saying, “Lost in some of the euphoria is that full scale, global implementation of a public ledger coin has yet to happen.
- We have seen retail’s appetite, but nothing that says, ‘this is the new financial system’ All signs still point to XRP being at the center when that day comes.” XRP will literary be the heart of this new financial system when the switch is flipped. What’s even crazier is how this new financial system will be born from the ashes. XRP is meant for just a $10 price level. We are about to see some crazy double- and four-digit numbers in the coming times. We just have to wait for the right time. So many people are invested in XRP, but they don’t really know its actual value. Moving forward, we have this other tweet from @ThinkingCrypto1 that says, “This is interesting! Some big names here. #ripple #bankofamerica #paypal #coinbase #visa #xrp #crypto #hodl @PayPal @Ripple ” If we look at that image shared on this tweet, we can see the participating companies in the virtual west coast payments. Some of the mentioned companies there include Coinbase Global Inc, Paypal Holdings Inc, Ripple Labs Inc, and Visa Inc. As we can see here, Brad Garlinghouse seems to be very well connected with most of these big names in the game. This is quite interesting as we can say that we don’t see many coins in the crypto sphere do what Ripple labs are doing. Further ahead, we have this tweet from @sentosumosaba that says, “Liquiditaaay! @Ripple participates in the funding round for a NEW cryptocurrency exchange start-up in the Philippines. Can you say MORE #XRP ODL participants? YES, YOU CAN!” XRP is clearly going all around the world, connecting everything, guys. XRP is genuinely the one; I mean, it’s all right there before our eyes. What’s left is for us to see its full potential. From @MackAttackXRP tweeted saying, “The XRP Ledger takes a completely opposite approach to Bitcoin. Besides the environmental disaster that bitcoin is, the entire world cannot run on 7 transactions per second that take an hour to confirm.” Again, we are seeing all these comparisons between XRP and Bitcoin. But we all know which one is the more superior coin here.
- The XRP dimensions are way ahead of Bitcoin, which is why XRP will be the chosen coin in this new financial era. With that said, let’s move ahead and look at all the shenanigans of the Ripple Vs. XRP lawsuit. From @xrp_ninja, he shared this tweet saying and attached a link to an article posted on Financefeeds.com that says, “SEC Vs. Ripple: Bombshells in deposition pave the way for a win on fair notice, says expert.” The article says, “The ex-SEC Commissioner waffled, according to Mr. Hogan, and then answered “no.” As fact discovery comes to a close in the SEC v. Ripple lawsuit (see agenda), parts of the infamous William Hinman deposition transcript have been attached to the SEC brief. Attorney Jeremy Hogan analyzed the documents. “These excerpts of the deposition were of course chosen by the SEC, so we don’t see the bad stuff yet, but this is our first look at some real evidence in the case, and it didn’t disappoint.” From the probably over 500 pages, only about 90 pages were attached to the brief, and “much of what we do have is redacted,” the XRP-friendly lawyer said in a video, then moving on to two bombshells he found on the transcript. Bombshell Number 1 is on page 376 of the transcript as the former SEC Commissioner said he had his first meetings with XRP representatives trying to figure out how XRP could come into compliance in 2020. Only then did he let Ripple executives and counsel know they were breaking the law. By then, the SEC’s investigation of Ripple was already underway, and the complaint was filed in December 2020. “But also keep in mind that when asked what they could do to come into compliance, it seems according to his testimony his only response was to say “stop selling XRP.” Given the nature of the blockchain space, a burgeoning industry, the lack of fair notice argument gains strength in the eyes of Mr. Hogan, who added that testimony “only really helps the SEC for the period from when Hinman told the SEC in 2020 until the lawsuit was filed.
- It does nothing for pre-2020 Fair Notice.” Bombshell Number 2 regards the SEC’s policy for the agency’s employees owning securities which states they can’t own securities they are in any way working with or about to. Moreover, the purchase of any security by an SEC employee had to be pre-cleared. The Ripple counsel asked William Hinman if digital assets were not covered by the securities clearance form until 2018. The ex-SEC Commissioner waffled, according to Mr. Hogan, and then answered “no.” “The SEC did not consider digital assets securities for their ethics purposes until 2018. You never ask a question on cross you don’t know the answer to already. And that bodes very well for Ripple as far as its Fair Notice defense for periods from 2013-2018”, the lawyer concluded. The fair notice defense is Ripple’s favorite strategy for a win in the SEC v. Ripple case that has been dragging since the complaint was filed in December 2020. Mr. Hogan has recently analyzed both parties’ strategies as they become apparent at the end of fact discovery. The SEC has warned the court that a Ripple win on fair notice would nullify the ‘Howie Test,’ which is used for assessing the nature of an asset and whether it is a security or not. On the other hand, such a win could “save the industry from the SEC,” as attorney Hogan previously explained.” As we wind up today’s video, we have this tweet from @truthcrumbs that says, “SEC officials under investigation for conflict of interest in Ripple lawsuit.” He further shares this article from @finbold.com where we can see, “The United States regulator the Securities Exchange Commission (SEC) former officials are under scrutiny over alleged conflict of interest regarding the agency’s handling of the Ripple lawsuit. The Empower Oversight is leading investigations against the regulator, having submitted a request seeking communication between SEC officials, their current and former employers. The watchdog has questioned the handling of the matter by former SEC Chairman Jay Clayton.
- The focus is on Clayton’s declaration that Bitcoin wasn’t a security. After his tenure ended at SEC, Empower Oversight notes that Clayton joined One River Asset Management, a cryptocurrency hedge fund focusing on Bitcoin and Ethereum. Over the years, SEC has increasingly faced scrutiny over its handling of cryptocurrency regulations, and the Empower Oversight investigations might impact the ongoing Ripple lawsuit. The case recently took a twist after the SEC attempted to delete subtopics relevant to the lawsuit involving Hinman. Notably, since the start of the case, John Deaton, the lawyer for the XRP Holders, has publicly stated that there was a conflict of interest from SEC officials.” With that in mind, let’s take a look at the technicals. XRP has been showing a great amount of strength over the last few weeks as prices have risen over 120% off the low set in July. A pressing lawsuit with the SEC has not stopped Ripple from continuing business or XRP from showing strength. Many investors are anticipating a win for Ripple against the SEC as they have been buying up XRP rapidly behind the scenes. XRP is one of the top 20 gainers over the last month which is somewhat expected as it's one of the only top coins that has yet to make a new ATH. Even since XRP set its low of $0.50 back in July, the price has been on a strong uptrend. This particular price movement has been extremely healthy as XRP has formed an ascending channel formation. Each time price reaches either trend, it makes its way to the other side of the channel.
- At the time of writing, XRP has just got rejected at a 4-month downtrend line that has held the price down from a new high. Along with this trend lies a major resistance zone found from $1.28-$1.37. If XRP manages to clear both of these marks, the skies are open for a potential $1.50+ price tag. In the case XRP fails to break its important resistance areas, we should expect a drop back down to the bottom trend of the channel. Before this may occur, XRP has a chance of holding a minor support zone at $1.19. In this case, bears take control and push the price below, expect the bottom trend of the channel to provide a bounce. Along with this trend line lies the 60 MA. This MA has held XRP up ever since its low of $.50 was set. As long as bulls can keep XRP above this mark, it is in a bullish state. As always, trade safely guys!
- Please keep in mind, We are not a licensed financial advisor.
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