The previous case and how is the XRP price going?

The previous case and how is the XRP price going?

In the winter of 2020, the US stock exchange supervisory authority Securities and Exchange Commission fired the first bullet in a lengthy litigation against the entire cryptocurrency industry.

On December 22, 2020, the SEC indictment ripple raised with the implementation of a non-registered securities offer worth $ 1.3 billion, which essentially claimed that its native cryptocurrency-XRP-was a securities.

Two and a half years later the fight is still raging, but the dimensions are now extremely larger. Let's immerse yourself.

ripple against sec: Fight of the titans

The SEC under the leadership of Gary Gensler has developed into an anti-crypto establishment, and nobody tries to even hide this. At that time we just didn't know this in 2020, when one of the first shots fell.

In December 2020, the SEC claimed that XRP was a securities and that Ripple carried out a non-registered securities offer worth $ 1.3 billion. At that time, the director of the Enforcement Division of the Sec, Stephanie Avakian said:

We say that Ripplelarsen and Garlinghouse failed to register their ongoing offer and the sale of billions from XRP to private investors, which has given potential buyers of reasonable disclosures via XRP Ripple’s business and other important protective measures that are of fundamental importance for our robust public market system.

rippledie over the entire defense of XRP is based on the claim that XRP is a currency and not a securities. Nevertheless, the price collapsed at the time because more and more exchanges began to take XRP off the stock exchange for fear of the SEC.

Coinbase was publicly published by Ripple, submitting an Amicus document, also known as the "friend of the court", to support the ongoing procedure of the company.

an ongoing struggle

Since then, many months have passed and it is doubtful whether someone has hoped for quick solutions, since both sides do not show any signs of a retreat.

A cornerstone of rippleine defense is the so-called Hinman speech.

William Hinman is a former director of the SEC Division of Corporation Finance. The speech in question refers to an occasion in which he pointed out that the authority had no concerns about ETH security at that time.

ripple lawyers fought to find out more about how Hinman came to this conclusion, hoping that this could also affect the classification of XRP. In October 2022, they managed to procure the documents - for that they took around 18 months. Ripple defended himself against several objections on behalf of the SEC, the recent objection asked the court to seal Hinman's speech, but was rejected by judge Analisa Torres.

This apparently made the rippledie favor of XRP - something that seems to be priced in the performance of XRP, since investors are optimistic in view of a positive court decision.

The second seems to be under tension, and you can tell. As we reported just a few days ago, the Commission Hinman's Biography seems to have deleted from its website. It is worth noting that the SEC has time until June 13th to publish unwured emails with Hinman's internal messages-a deadline that many are looking forward to.

What about the price of XRP?

ripple is not the only company that is under siege. The SEC has just charged Coinbase and Binance - the two leading cryptocurrency exchanges. They claim that companies have violated securities laws (for Binance).

It is important to note that XRP from the SEC in the non -exhaustive list of 13 "Crypto Asset Securities" was not mentioned as securities in the submission against Coinbase.

It feels like the entire industry would be under fire. And yet the price of XRP remains stable. In the past seven days he remained the only old coin of the majors that is still in the green, albeit with a very little lead.

However, a big deadline is scheduled for June 13 - as mentioned above. The result of the session will probably affect the price of XRP, and it is very exciting to see exactly what happens.

Investors seem to be a positive result, since the price of XRP has increased by more than 23 % in the last 30 days alone.

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