Ripple’s Legal Battle with SEC: Experts Weigh in on XRP’s Future
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Ripple’s ongoing legal battle with the SEC is nearing its climax, with potential implications for the cryptocurrency market. Experts are divided on the future impact of this lawsuit on XRP’s price and legal status. Read on to uncover the differing viewpoints and understand what lies ahead for Ripple and XRP.
Experts’ Perspectives on XRP’s Future
Moon Lambo’s Perspective
Moon Lambo, an XRP expert and youtuber, believes that the price of XRP might increase when the SEC lawsuit concludes. However, he argues that such a price rise would be irrational since XRP has already had legal clarity for almost a year. This clarity means that the lawsuit’s outcome should not significantly impact everyday XRP holders.
Contrasting Option
Another expert, identified as ‘cryptopoll’, contends that XRP will achieve true legal clarity only after Ripple pays any fines for selling XRP without proper registration. He also suggests that the court should prevent Ripple from selling its escrowed XRP to ensure regulatory compliance.
XRP’s Status as a Non-Security: An Expert’s Observation
Moon Lambo opposes the contrasting view, emphasising that XRP has already been declared a non-security, providing clear legal status. He funds it unfair to ban Ripple from selling XRP they own, noting that a judge permitted Ripple to sell XRP nearly a year ago.
Ripple’s Battle with the SEC: A General Overview
Ripple, based in San Francisco, is close to concluding its significant legal battle with the SEC. The SEC claims that Ripple’s XRP transactions are unregistered securities offerings, seeking fines totalling $2 billion. A US District Judge previously ruled against Ripple, declaring its $728.9 million XRP sales to sophisticated investors unlawful.
Despite these challenges, Ripple’s CTO, David Schwartz, recently highlighted the company’s global resilience. He noted that regulatory compliance was easier outside the US, providing a strategic advantage for Ripple.
Ripple is now a growing company, globally.
Anyway, the conclusion of Ripple’s legal battle with the SEC will be a pivotal moment for XRP and the broader cryptocurrency market.
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Also Read : XRP Price Wobbles as SEC Questions Ripple’s ODL Practices
