- Ripple’s CEO believes that September 21 could be the date when the XRP case ends.
- XRP prices see slight gains, but remain bearish for the entire week.
Brad Garlinghouse (CEO of Ripple) recently questioned the why XRP In the SEC’s pending litigation, he was specifically targeted. He was funny. proposed The case could be concluded on September 21, which also marks the end of summer. Garlinghouse, despite not knowing the date for a settlement, is optimistic.
Brad Garlinghouse, CEO of Ripple.
XRP is not a security… Case expected to close by end of Summer… Summer ends September 21st….
Ripple is at the end of its journey with the SEC and others like Ethereum are just beginning to go through the same adventure……… https://t.co/Ysb980zqtg
— Digital Assets Daily (@AssetsDaily) June 12, 2024
Clearness of Regulation and Timelines for Decisions
Garlinghouse said that although the exact timetable is unclear, he anticipates that the judge will make a decision before September 21, possibly by the end of the summer. He emphasized XRP’s US-specific standing because of the clear regulations.
He said that the future of ETH is a hazy one. “XRP in the US is one of the few things we can say definitively is not a security.” Though Ripple He said that the US regulatory environment is behind.
Garlinghouse, citing anger at the regulatory barriers facing the industry, accused SEC Chairman Gary Gensler “pretty hostile” towards cryptocurrency. Ripple continues to push for clearer and more favorable laws in the US, despite these challenges.
David Schwartz, Ripple’s CTO, said that although the US market was important to Ripple, regulatory obstacles are easier to control elsewhere.
Schwartz stated that despite the ongoing legal issues, Schwartz still believes in his own abilities. Ripple’s Business outside the US continues to grow. Ripple’s legal case is still a critical component. The SEC has now taken up the issue of the fines or penalties that the company must pay.
Market Performance and Trends
CoinMarketCap shows that the current price for XRP, at the time of this writing, is approximately $0.4843The. 0.93% It was down by 1% from yesterday. The trend has also been bearish over the past seven days. 7.38%.
A former Ripple executive has expressed concern about the price slowdown of XRP despite promising developments. Sean McBride Crypto News Flash reported that the price of Bitcoin could remain low until Torres’ ruling.
Ripple sealed several documents relating to SEC’s judgment request and remedies on the 14th of May. Ripple is using this as part of its strategy to protect data and handle legal processes.
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Source: www.crypto-news-flash.com