Ripple is Crippled (SEC Lawsuit)

SEC Victory in Ripple Case Would Render XRP 'Untradeable,' Pros Say - CoinDesk

Bad news for the XRP squad. Ripple has been sued by SEC. They allege that XRP is a security, which if true, means that nearly every traditional cryptocurrency exchange will need to delist XRP, since they are not licensed to deal in securities.

This is the risk when you have a centralized for-profit organization directly behind crypto assets. This case could set a precedent and standard for similar projects going forward. I do wonder where the line will be drawn. Is BNB a security? I assume they can argue it's more of a "rewards program" due to its design.

Still, it's not the outcome you want to see in this space if you are invested in Ripple, or related projects like Stellar.

 

people say its 100% lost case because they have so much evidence against xrp wonder what will happen to the price

 

IT is interesting to note that majority of there banking clients are in Asia, and SBI has no plans to stop using their system. Will be interesting to see what happens to price of ripple tho, if western world is cut off.

 

I've even heard of exchanges wanting to back away from XRP. I would assume to avoid the hassle of people complaining about it later on. I am interested to see how it'll go.

Honestly, hard to believe this went from highly recommended to a flop to a comeback to a "sell NOW" kind of thing so fast.

 

Yeah, it's a rip and a risk but crypto is risky anyhow. Crypto is a pretty speculative thing. Everything is "allegedly". In my opinion, A lot of people don't realize that it's political the way it was filed. The head of the SEC and the higher-ups left the day after the case was made. Even if the SEC win's the case against Ripple, the SEC is charging Ripple because of the way they handled the way they were selling and distributing XRP. At most, I can only see SEC locking up Ripple's share of XRP and giving them a fine. The lockup of Ripple's XRP will definitely be big. EOS and Kin are still being traded after being screwed by the SEC.



There's this stigma that it's automatically going to go down just because the SEC filled the complaint, They didn't even file a junction to stop Ripple from selling. It's only a complaint at this level. Unless the court forces Ripple to stop, it seems that the Media is the only one that is hyping the story up. Anyways, at least there will be more regulatory clarity.

It's kind of Karma though, Ripple has been asking for regulatory clarity in tweets and otherwise. I think that this situation is comparable to what is happening with Jack Ma of Alibaba. Jack Ma called out the regulations and is now getting screwed just like how Ripple called out the regulations and is getting screwed.
$10 billion crypto firm Ripple considers relocating to London over U.S. regulation

May Ripple prevail.

 

Got an email from almost every exchange I’ve ever used and they state they’re delisting XRP for US customers. I assume some will follow from outside of the US shortly.

 

XRP was always a shitcoin. Anyway, I am ready to long this shitcoin if they win the lawsuit.

 

Ripple is fucked because they shilled their coin for years on social media. They kept encouraging people to invest in it and were regularly posting positive news about the price. They're vulnerable because they are a legit company in the US with tons of funding and visible / vocal rich dudes running the show.

Just another example of why decentralization is important. Not just with the protocol itself, but with leadership / management / control. The US Government has infinite leverage on Ripple because Ripple is a front-facing US company. Similar with exchanges like Coinbase. Meanwhile, no one will even agree on who created Bitcoin so there's no particular person / organization that you can shut down that is crucial to the network.

I am a fan of Ethereum but it's a bit different in this regard, because Vitalik is such an important leader for the community and direction of the project. However, there is no private for-profit company directly behind the Ethereum project, and Vitalik's efforts and posts are about furthering the technology, not pumping the price of ETH.

The minute they hypothetically win the lawsuit, bots will drive the prices up like crazy. The odds of them winning are incredibly low IMO.

 

Ripple got absolutely smoked. I forget what mod or admin that was constantly pushing this coin. I hope all of you continued to hold an investment in Bitcoin too.

 

Ripple is rising, its safe and will be settled out of court in my opinion

 

Despite the lawsuit the partnerships worldwide for Ripple have been on the rise.
Ripple 2020 Momentum | Ripple

I think that the lawsuit is actually very good from an investment perspective because it will allow investors to buy more at a lower price. It may show cryptocurrency-based companies that going outside the United States may be a better option.

Also the asset XRP is decentralized especially with the multitudes more validators coming online, Ripple just builds the technology to utilize it, and they will be instrumental in getting the price of cross border payments to go down.

XRP has the advantage of extremely fast transaction speeds and very low fees.

Right now from an investment perspective I am mainly holding ETH, but I believe Ripple has a very clear and important mission and I may start following the updates more closely again.