Home Altcoins News Will XRP ever get back to #3? ETH flying DOGE replacing ICP

Will XRP ever get back to #3? ETH flying DOGE replacing ICP

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Users will be able to check the check out the latest markets report for insights on the overall market, XRP Ledger development and more.

Ripple expressed that Q1 2021 was powerful for crypto, with the overall market cap ballooning to nearly $2T for the first time.

Ripple Insights have published the key law suit insight as follows:

“On April 22, the SEC filed a motion to strike Ripple’s Lack of Due Process and Fair Notice defence which states that the SEC had not adequately warned both Ripple and the broader market that XRP was considered an investment contract.

On April 19, lawyer John Deaton filed a motion to intervene on behalf of more than 12,000 XRP holders (and others), claiming that the SEC does not represent – and is in fact hurting – their interests.

On April 16, Ripple filed a motion seeking to stop the SEC from contacting foreign regulators and requesting discovery outside the rules of federal procedure and the Hague Convention in this matter. 

On April 6, Ripple’s motion to compel discovery was granted in large part by the Court. The SEC is required to produce documents regarding BTC, ETH and XRP.

On March 19, Ripple prevailed in its lawsuit against Tetragon, a Ripple investor. The Judge said that since there has been no official determination regarding XRP’s status, Tetragon’s claim that a “securities default,” as defined in their investment documents, occurred is wrong. Ripple was also awarded $3.5M in attorneys’ fees and costs.”

Users feel that For everybody who doesn’t buy at this moment XRP, know it’s the last good chance, in this moment we have the big chance to buy 1 XRP at 1.60 $ and wait to explodes because Ripple Lab have all the arguments for finish very good this lawsuit invented for the SEC.

“Ripple continued to engage in sales to support ODL and key infrastructure partners as part of providing increased XRP liquidity to improve the ODL experience of certain customers, eliminating the need for pre-funding and enabling instant global payments.”

Reading at this, some of the users were left wondering, what happened to the courts?

Someone who tried to clarify stated, interesting that wallets that are often mischaracterized as sales (i.e. Jed) are actually ‘short-term leases’ to market makers (and are ultimately returned to Ripple). Ripple sells OTC to provide liquidity and buys to support healthy markets. Ripple, not unlike the Fed.

manages the money supply and demand to promote stable expansion through Reserve Requirements (XRPL); Discount Rate (ODL, LoC, Leases); Lender of Last Resort; Open Market Operations (Buying, Selling, Lending, Escrow) Viewed from this perspective, XRP could be a currency or a treasury security.

The use case and utility of XRP is obvious, but so is the ‘common enterprise’ upon which network participants depend upon liquidity, credit services, and healthy markets. 

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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