Ripple’s XRP and the Ongoing Legal Feud
Ripple’s XRP has been a hot topic of discussion among experts in the crypto world, particularly in 2023. The main reason behind this is the ongoing dispute between Ripple Labs and the US Securities and Exchange Commission (SEC).
- The price of XRP has been heavily affected by the legal feud between Ripple and the SEC.
- The SEC alleges that sales of XRP, whether primary or secondary, constitute an investment contract, suggesting that XRP is a security.
- If proven true, Ripple would have conducted an unregistered securities offering worth over $1 billion.
- This would put XRP under the scrutiny and regulation of the SEC.
- Judge Analisa Torres ruled partially in favor of Ripple, stating that secondary sales of XRP do not constitute an investment contract.
Institutions and Legal Clarity
According to Wall Street veteran Linda Jones, it will be institutions that ultimately drive the price of XRP higher. Jones believes that institutions require more legal clarity and a clear framework to invest in XRP. She also suggests that congressional lawmaking is necessary for the price of XRP to increase.
Jones believes that once there is more legal clarity and congressional lawmaking in place, institutional money will start flowing into XRP in a significant way.
Hot Take: Institutional Money Will Drive XRP’s Price Higher
Overall, the ongoing legal feud between Ripple and the SEC has had a significant impact on the price of XRP. However, it is believed that institutions will play a crucial role in driving the price of XRP higher. In order for this to happen, legal clarity and congressional lawmaking are necessary steps. Once these are achieved, it is expected that institutional money will flow into XRP, leading to a substantial increase in its price.
By
By
By
By