Ripple CEO Brad Garlinghouse is celebrating the company’s partial victory against the SEC, emphasizing that this win is not only significant for Ripple but for the entire crypto industry. It serves as an example for similar cases and provides hope that with a strong defense, companies can come out on top.
The price of XRP, currently the 5th largest cryptocurrency, is also expected to benefit from this win. With Ripple emerging as a top contender after Bitcoin, there is anticipation that XRP will surpass $0.50 in value as the Ripple Proper Party approaches.
Ripple Gave it Back to the Bullies
Garlinghouse criticizes the SEC’s tactics and describes their settlements as bullying rather than legitimate legal victories. He commends companies like Grayscale and Coinbase for standing up against such tactics and emphasizes the importance of resisting authoritative entities.
Reflecting on Ripple’s legal battle, Garlinghouse notes that initially, some viewed Ripple and XRP as separate entities due to their decentralized nature. However, he argues that the lawsuit attacked the entire crypto sector, a perspective that is now gaining wider recognition.
Anticipations are High for Ripple Proper Party
The upcoming Ripple Proper Party on September 29 holds significance for the XRP community. It aims to rebuild positive sentiment following the legal victory in July. The event may bring IPO or settlement news, which would provide further clarity on XRP’s future.
Crucial Price Levels for XRP
XRP’s recent consolidation suggests cautious market sentiment due to a lack of updates on the Ripple vs. SEC case. The cryptocurrency must maintain support above $0.50 to avoid slipping below the lower trendline of a symmetrical triangle. Breaking above this pattern could push XRP toward $0.54, with overcoming resistance at $0.5254 being a significant milestone.
What twists await in the Ripple vs. SEC case? Will the SEC find a backdoor in the next hearing?
Hot Take: Ripple’s Legal Victory Sets a Precedent for Crypto
Ripple’s partial victory against the SEC is not only a win for the company but also sets a precedent for the entire crypto industry. It demonstrates that with a strong defense and resilience, companies can successfully challenge authoritative entities. This win has boosted Ripple’s position as a major contender in the crypto space, and there is anticipation of positive price action for XRP. The upcoming Ripple Proper Party holds further significance as it aims to rebuild positive sentiment within the XRP community and may bring important news regarding IPO or settlement.
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