In this aticle we ae oin to see about XRP Ripple: The REASON Behind $300 XRP Price Prediction!
Ripple is one of the most intriguing cryptocurrencies we have in the market right now. Ripple has, over the years, been creating partnerships and associations with several of the largest banks and investment companies. These associations and the SEC lawsuit are some of the primary reasons why the price of XRP could skyrocket very soon. The most impressive thing is that despite everything that has been happening with XRP, this coin has not shown any signs of backing down lightly so far. Although we are likely to hit a massive plunge before things move to the brighter side, XRP price is hinting at a powerful upswing. Yes, XRP could indeed hit $300. We are getting into all the nitty-gritty of today's video shortly. To start us out article, we will dive more into how XRP can indeed get to the $300 mark. As we all know by now, Ripple was created to make financial transactions more advanced while ensuring the cost is less, and the speed is high.
Ripple is working with the traditional bank system to make The fact that Ripple has partnered with some major big fish organizations has pushed for the mainstream adoption of its native currency XRP. What's more, over the last couple of months, big investors have been allocating more significant sums of money for the digital asset XRP. In fact, XRP is the top rising altcoin among institutional investors. Among them, we have the World Bank, World Economic Forum, IMF, and EU Commission, who are on board with the Ripple and actively working with the team. Besides all the issues XRP has been dealing with the SEC, the currency serves as the bridge between different currencies. Ripple essentially has built on the shortcomings that the traditional banks have attributed. Transactions being performed on the Ripple network can be settled in seconds in contrast to what we get with conventional banks. We can all agree, transferring funds with traditional banks could take days and sometimes even weeks before the wire transfer is settled. What's more, Ripple comes with a more reasonable rate of exchange than the traditional banks.
With Ripple network, the minimum transaction cost is set at 0.001 XRP. And as we are seeing, there are many reasons to invest in XRP. The fact that Ripple is pushing towards an attractive future for the financial sector is making XRP one of the most attractive digital assets in the industry. XRP is an ideal investment for not only experienced but also beginner traders. However, for XRP to reach $300, it is said that it needs to have a market cap of 13 trillion. Next, we have this tweet from @LeoHadjiloizou that says; "WHAT IS XRP: A KEY QUESTION IN SEC V. RIPPLE AND THE ANSWER CAN'T BE THAT SIMPLE "So whether the SEC would care to admit it or not, the Howey orange grove analysis does not apply as neatly to the facts and circumstances surrounding XRP and its offering." As we can see from that article posted on Financefeeds.com, "Denise Fesdjian, an associate at Ulmer & Berne, has analyzed how the SEC defines digital assets as securities in a document titled "Comparing Apples to Orange [Groves]." Ms. Fesdjian, an attorney representing broker-dealers, investment advisors, and registered persons operating in the financial services industry, started by reminding the term "investment contract" has been liberally construed by courts to apply to a wide range of money-raising schemes that were found to be securities.
The landmark case of SEC v. W.J. Howey Co. – a hotel operator which sold interests in orange groves as an investment scheme – established the "Howey Test" for an investment contract. The Supreme Court held that the circumstances surrounding the sale of the orange grove interests constituted an investment contract and, therefore, security. Denise Fesdjian clarified the Court's finding: "It's important to point out the following distinction: the underlying asset (the orange grove) itself was not held to be a security, but rather it was the way in which the tracts of orange groves were sold that rendered them an investment contract. "Naturally, you may be wondering, what exactly do orange groves have to do with digital assets? As it turns out, the SEC believes they have a lot more in common than you would think", she continued, adding that U.S. laws and regulations have been stagnant and haven't kept up with the crypto craze. Without new legislation to rely on, the SEC has determined that a digital asset (such as a cryptocurrency) may be considered an investment contract and, therefore, security under the Howey framework.
SEC commissioner Hester Pierce, who has recently denounced the lack of clarity within the crypto space, has also said in an interview that "when we think about a crypto-asset as being security what we're doing is we're saying it's being sold as part of an investment contract. It doesn't mean that the asset itself necessarily has to be a security. It means that it was being sold as a security." Moving forward, we have yet another tweet from @JamesRuleXRP that says; "XRP Lawsuit: SEC files for seal, agreeing with Ripple on the irrelevance of third-party identity" Now, if we look at that news that was updated on Coingape.com, we can see that the SEC, in fact, followed Ripple's lead and filed for seal in the Interrogatories Dispute, the latest development in the XRP case. The plaintiff claimed that it agrees with Ripple's Motion to Seal evidence in the Interrogatories Dispute over the application of the Howey Test to XRP sales during the last eight years. "The SEC agrees with Defendants that the identities of third parties are not relevant to the Court's decision regarding Defendants' Motion to Compel…permitting sealing of portions of documents revealing identities of individuals and entities where the public interest in such information was low".
The settlement speculation is really only confirmed as the SEC and Ripple continue to work together to seal evidence. The SEC may be employing the seal to prevent creating any legal precedent in the XRP action. The case's example cannot be utilized by anybody soon, including SEC opponents. The SEC had requested an extension to file its letter move to seal earlier in the interrogatories dispute. The SEC confirmed that it would consult with the defendants before sealing portions of the appeal. This added to the suspicions. The SEC petitioned the Court for merit sealing because the portions to be sealed concerned the names of third parties. The SEC approaches Ripple for a seal to protect some prominent individuals' secrets concealed in the exhibits. The seal and settlement conjecture continues in circles, bringing us back to the SEC contacting Ripple for a seal to protect specific eminent individuals' secrets hidden in the exhibits. In the Interrogatories dispute, the SEC also filed a letter noting that it "did not oppose" Ripple's request to seal parts of specific exhibits. As we all can see from this, the SEC is losing as the case unfolds.
For that reason, the SEC seems to be considering a settlement with the defendants. That's because they want to bury this lawsuit now as it keeps on digging up the past. In fact, just last week, Ripple filed a letter appealing to the SEC's addition of three documents to be reviewed after the August 31, 2021, telephone conference based on a privilege log provided by the SEC. This has definitely thrown the SEC into havoc as these papers include an email chain that would potentially discredit the SEC's former 'just an opinion' justification about the 2018 Hinman speech. Now, as we wind up on today's video, we have this final tweet from @MackAttackXRP that says; "SEC v. Ripple: XRP's utility and currency value backed by former U.S. Treasurer" Well, it seems like Ripple XRP has earned itself another high-profile backer. Let's look at that article posted on Financefeeds.com. We can see that 'Rosie Rios, the 43rd Treasurer of the United States from 2009 to 2016 under President Barack Obama, has made quite a statement as the SEC v. Ripple lingers and CEO Brad Garlinghouse refuses to settle if no "absolute certainty" about XRP is provided. The 56-year-old academic took to Twitter to send a message to everyone out there still figuring out if XRP fits the description of a security under the 'Howie Test' as the Securities and Exchange Commission claims. "XRP's primary purpose is facilitating cross-border payments while other #Cryptos find their value in speculation.
China's latest move brings this point home", Ms. Rios stated.' Both utility and currency value are features not found in securities. This statement is being made by a former United States Treasurer, thus lending influence and credibility to Ripple's arguments in opposition to the SEC. With that said, let’s take a look at the charts! The diagonal trend lines have acted as important resistances and supports over time. When the bullish euphoria stage will start to kick in during Q4 the targets to hit will be the previous diagonal resistances. There is a low probability it will hit target 3! Absolutely nothing has changed with my chart and everything is progressing as expected for now. The bear party looks like it will finish between $0.65 and $0.75. The rise up to $2.00+ is supremely likely. It'd be ashamed if you missed it :) Please keep in mind.
I am not a licensed financial advisor.
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