• Tue. Jun 25th, 2024

10K XRP Holders in the USA are Hopeful that Ripple would get Back on Track

Hassan Mehmood

ByHassan Mehmood

Apr 3, 2021

The Ripple Labs Vs SEC case has been getting a lot of attention in the crypto-verse. The crypto traders are hanging on to every new development on this case with interest as the number of XRP holders has gone from 6000 to 10000 during the XRP proceedings. In a recent showdown at a virtual court proceeding, SEC lawyers applied for the personal financial records of Ripple Labs execs Brad Garlinghouse and Chris Larson.

In a plea to the court Mattew Soloman the defence attorney for Ripple, has asked the judges to seal the financial records from the public eye. However, Ripple has been permitted to partially redact the personal records to the extent of protecting private information. The rising number of XRP holders and Jay Clayton’s involvement have increased the survival probability for Ripple labs.

Is Coinbase Planning to Relist XRP again?

The whole premise of the SEC lawsuit against XRP is to protect the rights of the investors. However, the investors have managed to divert the court’s attention to the claims that the SEC’s actions are going against their best interest. The Magistrate Judge on the case has even said on record that XRP is a digital token and it has utility. This could signal a halting point for the current $1.3 billion SEC lawsuit.

The hopes of the XRP holders in the USA are getting endorsed as a new rumour in the market hit the crypto community today. According to a crypto influencer account Krish XRP, there had been positive evidence that the crypto exchange giant Coinbase is preparing to relist XRP again. The Twitter handle @Tagxrp also shared an API snapshot as evidence, but the official news is yet to be announced. 

Is XRP Going to Get off without Any Damages?

The general impression about the Ripple case is that it has gained more than it lost during the SEC trial. The publicity and the recognition of this case have managed to make XRP a frequently discussed topic in many crypto circles. However, the centralized nature of the digital asset still poses a big threat to its freedom from indictment.

In the span of the last few days, XRP witnessed a 45% endorsement and travelled from $0.4440 to $0.6464. Despite all the speculations, the final verdict on the SEC vs Ripple case is yet to air. Some points in the SEC initial lawsuit suggest that the federal department might be planning to prepare another legal trial for the Ripple executives. 

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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