(quick recap)...The SEC case against Ripple was a legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs, the company behind the XRP cryptocurrency. The SEC sued Ripple in December 2020, alleging that XRP is a security and that Ripple had violated securities laws by selling XRP without registering it with the SEC. Ripple Labs denied the SEC's allegations, arguing that XRP is not a security but a digital currency.
The case went to trial in February 2023, and on July 12, 2023, Judge Analisa Torres ruled in favor of Ripple Labs. Torres found that the SEC had failed to adequately prove that XRP is a security, and she dismissed the case.
The ruling is a major victory for Ripple Labs and the cryptocurrency industry as a whole. It could have far-reaching implications for the regulation of cryptocurrencies in the United States.
👉The SEC failed to prove that XRP is a security. 👉The ruling could have far-reaching implications for the regulation of cryptocurrencies in the United States. 👉The ruling is a major victory for Ripple Labs and the cryptocurrency industry as a whole.
This furthermore confirms my bias for the beginning of AltSeason 2023, check it out here:
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Latest News update:
Ripple says U.S. banks will want to use XRP cryptocurrency after victory in SEC fight.
According to CNBC : "Ripple is confident U.S. banks will start wanting to use XRP for cross-border transactions after a judge gave the firm a partial victory in its fight against the SEC, General Counsel Stu Alderoty told CNBC. A judge ruled that XRP, a cryptocurrency Ripple is closely associated with, was not in itself necessarily a security, in a development with major implications for the digital asset industry. It wasn’t a total victory for Ripple, however – the judge also ruled that sales of XRP by Ripple to institutional buyers do count as unregistered sales of securities."
_____________________________ I would NOT take this as a buy signal, actually there's greater chance we correct more after this news (expecting sell-the-news market behavior). Not sure what Ripple is playing at here but seeing is believing when it comes to Ripple's remarks.
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Everything you need to know about the BTC Halving coming up:
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@CryptoCheck-, hello, thanks for the share of your idea. by the way, what tool are you using for buy and sell signals? it look great. could you tell me the name ? thank you :)
Goldenbreakout
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@Tolberti, This is the next speculation of a huge increase after AI ONE COIN (HARMONEY) CAN DO IT
TradingView
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BustersCharts89
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XRP has massive overhead resistance at ~$0.87 dating back to the 2018 high. Using the 2021 high, there are significant levels at $0.68, $0.80, and $0.93.
We wicked above all levels for just a few minutes in the run up today. The price was rejected and has since moved to as low as $0.72. What will happen next?
I’m not a moonboi but at this point I am actually not convinced that the move lower was a rejection. I believe it may just be a healthy breather in what is obviously an impulsive and volatile move, and XRP is just using this area to consolidate.
My present view is that XRP will consolidate in an ascending wedge for the next 24 hours or so before making another attempt at $0.87. It may blow right though it. At this point we should just “wait and see.” If you’re looking to get in now, I would recommend trying to buy at the $0.72-$0.74 range if available. I believe $0.68 will serve as absolute support and if the opportunity existed, back the truck up there.
CryptoCheck-
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@BustersCharts89, Luckily our bags are packed so I won't be trying to buy at the moment; trying to swing XRP has proven to be risky. Thanks for your feedback!
XRP wont be long anymor. there is a big resistance on 0.87. actually i am out of my trade. i was actually short xrp at 0.91. i think xrp will be bearish.