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HomeNewsRipple Faces SEC Scrutiny While XRP Spot ETF Buzz Grows

Ripple Faces SEC Scrutiny While XRP Spot ETF Buzz Grows

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  • Ripple faces increased legal pressure from the SEC, with a focus on financial disclosures and institutional sales of XRP.
  • Speculations rise about the future of XRP-Spot ETFs following recent Bitcoin ETF approvals, with potential implications for Ethereum and XRP.

SEC vs. Ripple Case: Intensifying Legal Battle

The SEC vs. Ripple lawsuit saw heightened activity on Thursday as the Securities and Exchange Commission (SEC) filed a motion to compel Ripple Labs. This motion demands the production of financial statements for 2022-2023 and details of post-Complaint contracts related to institutional sales of XRP. With a deadline of February 12 for remedies-related discovery, the case is rapidly progressing towards crucial arguments on the penalties Ripple might face for XRP sales to US institutional investors.

The SEC’s pursuit of the $770 million proceeds from XRP sales hinges on US case law that could potentially reduce Ripple‘s liability. Notably, in Morrison v NAB, the US Supreme Court limited the SEC’s jurisdiction to US-based sales, while Liu v SEC established that disgorgement awards should not exceed net profits and must benefit the victims. These rulings could significantly influence the outcome, particularly in determining the actual proceeds from XRP sales to US institutions.

XRP-Spot ETFs: A New Frontier in Crypto Investment

Amidst the legal battle, speculation about XRP-Spot ETFs gained momentum. Steve McClurg, Valkyrie’s Chief Investment Officer, pointed out the potential for crypto-spot ETFs in the wake of BTC-spot ETF approvals. Although the immediate focus might be on Ethereum, McClurg highlighted XRP’s potential inclusion in the evolving landscape of crypto-spot ETFs. This speculation follows Grayscale’s addition of XRP to its Digital Large Cap Fund (GDLC), indicating growing institutional interest in XRP as an investment vehicle.

XRP Price Analysis: Mixed Signals in the Market

XRP’s price action presents a complex picture. On the weekly chart, bullish indicators emerge, but the daily chart suggests a bearish near-term outlook. XRP remains below the 50-day EMA, indicating short-term bearishness, yet holds above the 200-day EMA, suggesting a longer-term bullish trend. An XRP move beyond the 50-day EMA could target the $0.6354 resistance, while a fall below the $0.5835 support might bring the 200-day EMA into focus.

In the 4-hourly analysis, XRP‘s position above the 50-day EMA juxtaposed with its stance below the 200-day EMA sends mixed signals. Surpassing the 200-day EMA could pave the way to the $0.6354 resistance, while falling below the 50-day EMA risks a drop to the $0.5470 support level.

The ongoing SEC vs. Ripple case and the potential for XRP-Spot ETFs are shaping the future of XRP and its role in the broader cryptocurrency market. As legal proceedings intensify and market speculations rise, XRP remains a focal point for investors and legal experts alike.

Connect with Collin Brown on X (Twitter) for valuable market insights, frequent updates, and a touch of humor!
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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628
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