Standard

THIS

Polygon

<p>The post <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-update-sec-unlikely-to-appeal-judge-torres-decision/">Ethereum Freed from SEC, Can Ripple Be Next? Judgement Awaited</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The SEC’s recent decision to drop all charges against Ethereum has shifted the spotlight to the ongoing Ripple vs. SEC lawsuit. Industry experts have criticized the SEC for its perceived partiality in handling similar cases. Despite the controversy, XRP saw a modest increase of nearly 1% today, trading at $0.498. The price has fluctuated between a low of $0.4906 and a high of $0.5002 over the last 24 hours. </p> 
<p>However, the trading volume has decreased by 25%, indicating a possible decline in trader interest. Key support and resistance levels to watch include $0.4623 and $0.50, respectively.</p> 
<h2 class="wp-block-heading" id="h-sec-s-decision-under-scrutiny"><strong>SEC’s Decision Under Scrutiny</strong></h2> 
<p>Recent developments in the Ripple case suggest that the U.S. SEC may not appeal Judge Torres’ ruling that XRP is not a security. Kristina Littman, former SEC Crypto Enforcement Chief, highlighted the risks of an appeal, which could undermine the SEC’s stance in higher courts. James Murphy, known as MetaLawMan, also criticized the SEC’s inconsistent approach to digital assets.</p> 
<h2 class="wp-block-heading" id="h-ripple-s-chief-legal-officer-speaks-out"><strong>Ripple’s Chief Legal Officer Speaks Out</strong></h2> 
<p>Stuart Alderoty, Ripple’s Chief Legal Officer, has lambasted the SEC for its lack of regulatory clarity, especially following the decision to end the Ethereum investigation. This inconsistency raises questions about the SEC’s classification of digital assets, leaving crypto enthusiasts to wonder if Solana, Cardano, and Polygon will also face unpredictable classifications.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">A big win for Consensys, though questions remain. Does this mean the SEC thinks Consensys’ offers and sales of ETH are not securities transactions and/or that ETH itself is not a security? What will Gensler say if now asked? What is the status of MetaMask and staking? <br><br>This is…</p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1803461543516053611?ref_src=twsrc%5Etfw">June 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-analyst-predictions"><strong>Analyst Predictions </strong></h2> 
<p>Despite the recent price increase, market sentiment around XRP remains cautious. Analyst Dark Defender has suggested that Bitcoin may lose dominance to XRP, predicting short-term targets of $0.5286 to $0.6649. The XRP/BTC pair has shown a reversal on the weekly chart, and a Golden Cross for the Relative Strength Index (RSI) indicates potential bullish momentum.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Hi all. <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> / <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> pair has the reversal in the weekly time frame, too. The Golden Cross for RSI is confirmed.<br><br>BTC will lose dominance against XRP starting now.<br><br>Very short term:<br><br>Targets $0.5286 – $0.6649<br>Support $0.4623<a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a> <a href="https://twitter.com/hashtag/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw">#XRPCommunity</a> <a href="https://t.co/hpMLsPWywD">pic.twitter.com/hpMLsPWywD</a></p>— Dark Defender (@DefendDark) <a href="https://twitter.com/DefendDark/status/1803706997058970102?ref_src=twsrc%5Etfw">June 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-impact-on-xrp-price-action"><strong>Impact on XRP Price Action</strong></h2> 
<p>The SEC vs. Ripple case has helped establish a robust support level for XRP around 50 cents. The large-cap altcoin, with a fully diluted valuation of approximately $49 billion, is strengthened by significant Ripple-backed developments and acquisitions. In the past week, Ripple announced the acquisition of Standard Custody to enhance its Metaco services.</p> 
<p>Ripple has also launched a web3 fund for South Korean and Japanese developers. Additionally, Ripple has unveiled an EVM-compatible sidechain on the XRPL, anticipating the launch of its fiat-backed stablecoins.</p> 
<p>As the SEC vs. Ripple case nears its conclusion, the outcome could set important precedents for future regulatory actions in the industry. The resolution of this landmark case is eagerly awaited by the entire crypto community.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/xrp-price-explosion-incoming-analysts-predict-1700-in-10-days-if-this-happens/" target="_blank" rel="noreferrer noopener">XRP Price to Explode 1700% in 10 Day If THIS Happens, Predicts Expert</a></p>

Ethereum Freed from SEC, Can Ripple Be Next? Judgement Awaited

목차

CoinPedia News

2024년 6월 20일에 게재된 다른 기사

Crypto Whales Buy Into BlockDAG After X1 App Projects $20 Daily Gains; Filecoin Rallies, Stellar ...

India Fines Binance $2.25M for AML Violations: What’s Next?

LayerZero (ZRO) To Launch In South Korea; Here Are The Details

Top Trending Tokens on CoinMarketCap: AGIX, FET, OCEAN, TURBO, and DEGEN (20th June 2024)

Top Crypto Presale in June 2024, MoonBag, Draws Investors Away from Internet Computer and Cardano...

Kraken Vs. SEC: Oral Arguments Begin, Here’s What to Know

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!