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Ripple XRP Prepares for a Fight in court with representation from former SEC officials

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Ripple XRP
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Ripple XRP has been in the headlines for all the good reasons lately. From the launch of the SBI virtual currencies exchange to millions in donations being made in Ripple XRP to just courses, there is no end to the Ripple effect all around mainstream media at the moment. However, one of the most pressing issues about this real-time gross settlement cryptocurrency, despite its success, is the fact that it’s mostly misunderstood by the cryptocurrency community.

Why they hate Ripple XRP

Most seasoned cryptocurrency traders wouldn’t touch Ripple XRP not even with a ten-foot pole, and for a good reason. Since Ripple works to partner with banking institutions globally, such investors imagine that it is a centralized coin that only uses the term Blockchain to gain traction and nuance from already existing digital solutions. After all, the Bitcoin revolution was all about paving a new path, away from the mainstream financial institutions. Therefore, Ripple XRP might appear to be the old wine in the new skin to most.

However, this couldn’t be further from the truth. Ripple XRP and Ripple the company are two completely separate entities. While the latter is the company that founded the former, the XRP cryptocurrency is a distributed ledger that is completely independent of the Ripple the company.

The lawsuit

On the other hand, there will be some cryptocurrency traders and investors who will regard Ripple XRP as a security for Ripple the company. In fact, it has only been a couple of weeks since Ripple got sued by an investor who claimed that he lost his investment while buying and selling XRP. He went on to file a class action lawsuit against Ripple alleging that state and federal securities laws have been violated by the company.

In response, Ripple has indicated in a statement reported by CoinDesk saying that they are “ready to fight this opportunistic suit in an appropriate federal court.”

Ripple also mentioned that it is “Confident that the claims regarding XRP are completely unfounded both in law and fact”

Former SEC officials

Furthermore, court records show that the Ripple is being represented by Mary Jo White and Andrew Ceresney. The interesting and most ironic part about the suit is that the two formerly worked with the Securities and Exchange Commission. Ceresney formerly served as an enforcement director at SEC from 2013 in April to 2016 December. While White, on the other hand, served as the chairwoman of the SEC during the Obama administration to its end last year.

Currently, the court case has shifted to the US District Court for the Northern District of California from its previous proceedings at the San Francisco County Superior Court.

Since the filling of the lawsuit last month, Ripple has been on the defense disputing the basis of the lawsuit that classified Ripple XRP as securities for Ripple (the Blockchain startup).

In an interview with CoinDesk, Ripple’s head of corporate communication was quoted saying that ripple will “assess the merit or lack of merit of the allegation at the appropriate time.” He also went on further to mention that the decision to classify XRP as a security is “for the SEC to decide” and that Ripple maintains its stance that XRP is not and should not be classified as a security. Given that the two Ripple representatives are former SEC officials, it will be interesting to see how the courts rule out the case.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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We know what the Institutions are saying, but what are they doing?

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institutions
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Many of us hear that institutions are buying tons of BTC, XRP, and other top 20 cryptocurrencies.  The thing is how much truth really is there to that when we cannot even see the market moving in any direction other than on a downtrend. Right now, many do not know this but there is the OTC or the over the counter exchanges that exist. These exchanges like OTC trading desks do the trades off the market hense over the counter. This means that it functions in the same way the black market functions as when you sell these items it is essentially off the books so to speak.

Why does all this matter? Have any of you seen this VIDEO with Tekka Tiwari. Here he explains what I love to say as listening with your eyes. He goes on to show how Wall Street legally manipulates the market, they throw out in the media and go into the limelight and bash the said stocks, or bitcoin. The result is that of them falling drastically as many panic sell the asset. While everyone is selling off tons of their assets when it gets close to the bottom, similar to where cryptocurrency is currently they buy it in droves. He explains how this is exactly what happened in the…

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Why Is Coinbase Stalling With XRP?

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Coinbase
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For a cryptocurrency project, getting their coin to Coinbase is one of their biggest goals. However, the popular exchange has become infamous over the years for only accepting a handful of top-ranking coins, while other ones were deemed unsafe for listing for various reasons. In the first half of 2018, however, Coinbase decided to distance itself from this old way of looking at things, and it has even announced that it will look into numerous altcoins, in order to locate and list the best among them.

Since then, the exchange has kept its word, and while it did not add dozens of new coins, they still did open up to a few projects, such as 0x and even Zcash.

However, for all this time, there was no mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest coin by market cap. Despite high demand, constant requests, and alike — Coinbase did not even consider adding XRP.

That is, until several days ago, when numerous reports of Coinbase considering another group of altcoins emerged. While the XRP community was very excited to see XRP listed as a candidate for a potential listing, many believe that it is still not going to happen.

Why Coinbase doesn’t want to add XRP?

As mentioned, the XRP community has been asking for the addition of XRP for…

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Why 2019 Will Be A Big Year For Crypto

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crypto
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As 2018 is getting close to its end, a lot of crypto investors are turning their gaze towards the future. Considering the crypto bearish trend that has dominated this entire year, not to mention two big market crashes, it is of no surprise that everyone is more than ready to leave these harsh events behind.

However, a few questions still remain unanswered — what to expect in 2019? Is the situation going to change, or will there be just more of the same? Is investing now, when the prices are low, a good idea? These are the issues on every investor’s mind right now.

What to expect in 2019 in terms of crypto value?

Understandably, after a year such as 2018, expectations of the future are quite high. The crypto scene is still in its infancy, as many analysts have stated numerous times. Add a few more issues, such as regulatory uncertainty, mistrust coming from institutional investors, and constant hacks, scams, and theft that have been a significant factor in this and previous years, and it’s no wonder that the market keeps crashing.

However, there is more to it than that. Due to high volatility and no real control over cryptocurrencies, a massive bull run of 2017 brought cryptos to heights that were not supposed to be reached that early. Because of that, some analysts claim that, what…

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