🔥 Hi friends! Finally, the Ripple case may end next week, which will be a strong impetus for the entire cryptocurrency market.
After the SEC and Ripple Labs filed motions for summary judgment on September 17, they were given until November 30 to file their summary judgment documents.
On 2 December, both parties will meet to discuss any redactions in the court filings. Then, the summary judgments will then be made public on 5 December.
📊 MORE ABOUT THE RIPPLE CASE The company’s founders used XRP as digital assets to raise funds in 2013. The company raised almost $600 mln. selling their coins to investors. The SEC classified it as unregistered IPO and illegal actions.
The decision of this case will provide a legal basis for the resolution of many disputes. If the verdict is in favor of Ripple, it can force Bitcoin to PUMP by 5-15%. This case had a negative impact on the price of altcoin, because during the entire bull market, the coin grew by only 500%, which is much less even than huge Bitcoin.
✅ Ripple can easily grow by 50-60% due to its large capitalization.
📊 MY TARGETS FOR RIPPLE: 1. $0.5 - the key level and an even number 2. $0.6-0.63 - the closest value area 3. $1 - the most important key level
🚩 I recommend you to book 30% of profit when each of the targets is reached. This way you will definitely stay in profit. Also, do not forget about risk management.
📊 The bad news is at least yesterday's delisting of some altcoins from Coinbase Wallet, including Ripple. Also, the FTX scam added a lot of negative to the crypto, which can definitely have a bad effect on any court decision in relation to the crypto and Ripple. In any case, we will know the answer in a week and traders have to be prepared before it happen.
Traders, what decision will the court make for Ripple? Write your thoughts in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
The token is already widely used - Bank of England, Santander as examples. Over 100 main insitutions across the world use Ripple XRP. The FED would be foolish (Hmmmm - possibly) to cause potential disruption and future development of FinTech and information transfers. But goverment is often stupid - does not mean a bad decision cannot be reversed.
Solldy
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Oooh, mate, with a market like this I would refrain from the idea with these assets. I think you should analyze the upcoming news before trading.
SwallowPremium
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This can happen, thanks for your awesome work!!
AtlasTrades
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good one XRPUSDT idea ! I agree with all what you wrote
cryptospawn
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Courts are government and government is all about control. With that said I have said enough. I do not expect Ripple to walk out the winner here at all. Thank you, Yuriy for your continued and informative posts. Your posts are some of the best ones here.