Ripple Depressed, What About The Fate Of XRP? - Kakiforex.com - Financial Market Media No. 1 in the World Ripple Depressed, What About The Fate Of XRP? Ripple Depressed, What About The Fate Of XRP?
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May 5, 2021

Ripple Depressed, What About The Fate Of XRP?

 Ripple and the Securities and Exchanges Commission (SEC) are still clashing in court proceedings.


Most recently, the judge in charge, Sarah Netburn has decided to obtain Bitcoin (BTC), Ethereum (ETH) and XRP -related internal communications between the SEC and third parties, including the rest of the market and other government agencies.


The decision was taken after the SEC denied allegations of possession of internal documents related to BTC, ETH or XRP, which are among the strongest evidence that places the three tokens as securities.


The SEC’s actions have actually put Ripple at the tip of the horn for dismissing allegations of possession of internal documents.



At least with the disclosure of the document, Ripple will be clearer on how the governing body classifies an asset as a security to the exclusion of equality of status between XRP with Bitcoin and Ethereum.


Ripple’s allegations of selling XRP as an unregistered security have indirectly created a similarity in the status of the token to ETH and BTC, which were labeled non -securities in 2018 when the SEC was under the auspices of former director William Hinman.


With Netburn’s agreement to review supporting material in the form of internal communications between the SEC and third parties means it is increasingly difficult for Ripple to prove the absolute truth.


At the time of writing, XRP is trading at $ 1.42 down over 4% in 24 hours. The coin has also surpassed Dogecoin (DOGE) which is currently ranked 4th with a current price of $ 0.67.