Three Reasons to be Bullish on Ripple (XRP), One to be Cautious
The post Three Reasons to be Bullish on Ripple (XRP), One to be Cautious appeared on BitcoinEthereumNews.com.
Ripple (XRP) presents a unique case, offering investors a blend of optimism and caution. As a new bull market emerges, understanding Ripple’s position is crucial for anyone interested in the crypto market. Here are three compelling reasons to be bullish about Ripple, along with a note of caution to keep in mind. The Legal Tussle’s Silver Lining A recent episode of CryptoLaw TV featured renowned crypto lawyer John Deaton. He discussed Ripple’s ongoing legal battle with the SEC. Deaton’s analysis follows a critical scheduling order outlining the SEC vs. Ripple lawsuit’s final steps. Indeed, the key dates to watch are: February 12, marking the end of the discovery phase; March 13, when the SEC reveals its proposed penalties; Ripple’s response is due by April 12; And, the SEC’s final reply is on April 29. What’s noteworthy is Ripple’s focus on remedies rather than allegations of fraud. Deaton’s insights suggest that Ripple’s financial penalties could be limited to profits gained from the alleged wrongdoing. “Ripple will not come close to paying $770M. The SEC seeks disgorgement related to XRP sales in the UK, Japan, Switzerland, etc. Not only does the Supreme Court’s Morrison decision exclude those sales, but XRP is deemed a non-security in those and other jurisdictions,” Deaton emphasized. This nuanced approach could mean a less severe outcome for Ripple, instilling a sense of optimism among XRP holders. Championing Financial Inclusion James Wallis, Ripple’s VP for central bank engagements, underscored the role of Central Bank Digital Currencies (CBDCs) in enhancing global financial inclusion. He highlighted how CBDCs can provide financial services to the underbanked, especially in regions where traditional banking is inaccessible or unaffordable. “Banks are commercial organizations, and they have shareholders that they have to be responsive and it’s very difficult to make money out of people that have…
Filed under: News - @ November 19, 2023 11:36 pm