|
–
|
Over the past 24 hours, the fifth-largest cryptocurrency (virtual asset) Ripple (XRP) by market capitalization recovered the $0.30 line amid a short-term surge.
As of 8:30 p.m. on the 30th (Korean time), the Ripple (XRP) token at CoinMarket Cap has soared 12.84% over the past 24 hours, and the market price is formed at around $0.3205. However, this is a 90% drop from the all-time high of $3.29 set on January 4, 2018.
On this day, Ripple released its first official response to the lawsuit filed by the US Securities and Exchange Commission (SEC) through its official channel.
“This is the first official legal document for a SEC lawsuit,” Ripple said. “The SEC’s lawsuit has cost XRP holders billions of dollars. The SEC’s mission is to maintain an orderly market, but their excesses have caused confusion in the market.”
Ripple argued in the legal document that “XRP is a cryptocurrency, not a security. Therefore, it is not within the scope of the SEC’s jurisdiction. In addition, Ripple has not entered into any investment contract with XRP holders.”
Meanwhile, according to AMB Crypto, a media specializing in cryptocurrency on the 27th (local time), attorney Jeremy Hogan of Hogan & Hogan, a famous American law firm, said, “The US Securities and Exchange Commission (SEC) and Ripple’s lawsuit Regardless of how it ends, the impact on Ripple will not be great.”
“In the worst case, it is possible to imagine a scenario where Ripple closes and the XRP price converges to ‘0’. But the possibility is’zero’. Because Ripple is a’technology’ company. This lawsuit is both companies. The SEC is likely to end with finding a compromise, and the SEC will likely impose punitive fines for Ripple business in 2013-2014 (or through 2015) and impose some sanctions on the sale of escrow XRP. If it ends in favor of Ripple, the XRP price will rise at least two to three times even conservatively.”
On the 22nd of last month, the SEC defined cryptocurrency XRP issued by the US company Reflaps as unregistered securities, and filed a lawsuit for violating the securities law.
–
