, 2022-11-19 11:16:12,
Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject
Ripple’s legal battle with the U.S Securities and Exchange Commission has seen some key developments over the past few days. These may work out well in the favor of the blockchain firm.
Read Price Prediction for XRP for 2023-24
On 14 November, the presiding judge in SEC v. Ripple granted the requests made by 16 companies to file an amicus brief in the case. Entities including Coinbase, Blockchain Association and the Chamber of Digital Commerce will now be able to demonstrate to the court how XRP does not qualify as a security. This was a major development in the case, considering the precedent that was set by SEC’s recent victory in a similar case against LBRY, a New Hampshire based crypto start-up.
On 7 November, the SEC took victory in a lawsuit against crypto start-up LBRY. The crux of this case bore an uncanny resemblance to Ripple’s case, which had investors and stakeholders worried about the precedent it would set. However, it soon became clear that some key differences between the two lawsuits made it less threatening than it appeared initially.
A report by CoinShares earlier this week indicated that investors are confident of Ripple’s victory in this landmark case. This is based on the fact that XRP investment products have seen consistent inflows for three consecutive…
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