- Ripple signs 1,700 NDAs financial Institutions can facilitate XRP transfer to counterparties contractually involved in different commercial transactions.
- XRP defied the trend and started the new week with a 4% rise, while Bitcoin & Ethereum both fell over 2.5% due to the deteriorating markets.
Ripple works with hundreds financial Institutions worldwide to promote XRP adoption within the payment space. Over the weekend the XRP Army retrieved court transcripts from a recently ended lawsuit against SEC that revealed the company signed 1,700 NDAs.
BOOOOOOOOOOOOOOOOOOM!!!!
Between 1700 and 2000 NDAs were signed @Ripple MAJOR Banks financial Institutions and Companies! #XRP It will be the most valued asset on the planet because it bridges value worldwide! 👑 pic.twitter.com/xA2thWZ9TJ
— JackTheRippler ©️ (@RippleXrpie) August 18, 2024
When Professor Alan Schwartz, Ripple’s expert witness, took the stand in the Southern District New York to give his expert testimony about 1,700 NDAs. as it squared off Securities watchdog. Schwartz, Professor of Law, Yale Law School analyzed and summarized the 1 700 contracts for the court. The company signed the contracts between 2013-2020.
Ripple argued The contracts were proved “that neither XRP nor Ripple’s contracts transferring XRP are investment contracts within the meaning of the Securities Act of 1933.”
Addendum:
They also help establish that, under Howey, Defendants did not offer or sell XRP as part of any common enterprise; that Ripple did not agree to any relevant post-contractual obligations to recipients of XRP; and that no recipient of XRP had—and as a matter of law could not have had—any reasonable expectation that Ripple would engage in efforts to generate profits for the recipients of XRP or to increase the market price of XRP.
They were first submitted to discovery in 2012, but they dominated social media conversations among the XRP Community over the weekend.
🚨 RIPPLE HAS 1 700 CONTRACTS ELSEWHERE $XRP TRANSFERRED AMONG BANKS AND COMPANIES.💥📈
Within Court Documents—
“@Ripple‘s Institutional Sales Involved More Than 1700 Contracts, Which Ripple Transferred XRP.” 💥🚀When Will These Contracts Be… pic.twitter.com/cSeehY0qBr
— Good Morning Crypto (@AbsGMCrypto) August 19, 2024
XRP supporters pointed out that the contracts show that XRP has a huge following in traditional regulated markets. financial space. They argue that if Ripple had signed contracts with 1 700 companies, a large number of them would have used or intended to use crypto for funds transfers.
It’s also important to note that these contracts all date back before 2020. They may have not been aimed at integrating XRP directly into the payment systems. It could also have been purely commercial transactions that were entered into by institutions solely for speculation.
This vast network is a great way to find out. financial You can find out more about us here. being connected to one token XRP alone can make these claims: few cryptos are able to do so.
XRP is currently trading at $0.0.5768 For a $ 32.36 billion Market cap.
In total, the token gained 0.85% The past day. In that period, however, the currency soared from an intraday low of $0.562 to a high. $0.5893The a 4.7% spike. Although it has lost some momentum, this is one of the tokens that still exists. that have made gains As the market has started this week, the broadest range of markets have seen a 2.15% dip.
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