Ripple (XRP) Coin Investors Anticipate Major Revelation on September 29th
Ripple Labs is gearing up to celebrate their partial victory against the US Securities and Exchange Commission (SEC) on September 29th in New York. The event, which has generated a lot of excitement among XRP enthusiasts, is expected to shed light on Ripple’s Initial Public Offering (IPO) speculations and provide updates on the ongoing court case with the SEC.
The legal battle between Ripple Labs and the SEC has been a cause of concern for investors. The SEC recently filed a motion for interlocutory appeal, and the outcome of this motion could potentially impact the market sentiment and the future of XRP. While the approval of the motion could lead to a bearish market and a downward trajectory for the asset, its rejection could provide a significant boost. Furthermore, the confirmation of an IPO by Ripple could act as a catalyst for a price surge.
According to reports, September 29th is expected to be a crucial day for Ripple investors. Apart from the IPO announcement, investors are eagerly waiting for the company to disclose more details about the ongoing court case with the SEC. Ripple CEO Brad Garlinghouse has already announced that September 29th will be a grand celebration of their partial victory against the SEC and has invited participants to register for the event.
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CryptoLaw founder, John Deaton, has shared his expectations for the Ripple party. He believes that there won’t be a settlement announcement with the SEC, as a settlement can only be considered if the Coinbase vs. SEC lawsuit yields significant developments. As for the IPO, Deaton is skeptical about its approval by the SEC, considering the Commission’s stance in the ongoing litigation.
Despite the uncertainty surrounding the court case, some crypto enthusiasts find solace in the SEC’s approval of Coinbase’s IPO. The SEC approved Coinbase’s IPO even though it considered the exchange as unregistered and tagged it as a broker and clearing agency.
In recent times, several occurrences involving parties closer to the court case have also attracted attention. Ripple Labs’ Chief Legal Officer (CLO), Stuart Alderoty, emphasized the need to challenge regulators in a post. Deaton commended Ripple Labs for its stance and advised against settling with the SEC. Alderoty’s post came after Grayscale Investments won a victory against the SEC in a case related to the Commission rejecting the Bitcoin spot exchange-traded fund application.
Renowned commentator Jim Cramer took a dig at the executives and lawyers associated with Ripple in a recent video. In response, Deaton expressed his displeasure, accusing Cramer of being either ignorant or fake regarding his knowledge about XRP.
As of now, XRP is trading at $0.501445, experiencing a 3 percent decline in the last seven days.
In conclusion, Ripple’s upcoming celebration on September 29th has generated a lot of excitement among XRP investors. The event is expected to provide insights into the IPO speculations and updates on the ongoing court case with the SEC. While the outcome of the court case remains uncertain, investors are hoping for a positive outcome that could potentially boost the price of XRP. September 29th marks a significant date for Ripple and its investors, and all eyes will be on the company’s announcements and revelations.
