the sec is forced to defend itself in court from ripple more and more jurors doubt the
sec's success in court after more and more ripple victories in court the picture is that the sec
will completely lose the case price charts also indicate that xrp is on the verge of a powerful
explosion the current price of xrp for today is zero three three one four seven zero us dollars
and the trading volume for 24 hours is 994 908 169 us dollars we are updating our xrp price in us
dollars in real time xrp has dropped 36 percent in the last 24 hours welcome to the rich club channel
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ripple xrp is stuck between the 20-day ema zero 33 us dollars and the support line of the symmetrical
triangle model although the price bounced off the support line on july 5th bulls are struggling to
overcome the upper resistance on the 20-day ema the 20-day ema continues to gradually decline and
the rsi is in the negative zone indicating that the bears are gaining the upper hand
sellers will try to lower the price below the support line if they managed to do this the xrp
usdt pair may fall to critical support at zero dollars 28. contrary to this assumption
if the price rises from the current level or support line and breaks through the 20-day ema
the pair may rise to the triangle resistance line a breakout and a close above this level may signal
the beginning of growth to zero dollars 48. perry anne boring ceo of the chamber of digital
commerce the crypto industry association said on twitter today's scotus decision challenges the
regulatory enforcement approach that the digital asset industry has been forced to adopt without
explicit congressional authorization federal agencies must proceed cautiously while the public
awaits the upcoming court ruling on what will happen to the documents related to him and speech
attorney john deaton who successfully obtained amicus curie status for xrp holders in the secv
ripple case and currently represents more than 67 000 xrp holders is considering a broader picture
of upcoming events john deaton drew the attention of the community to the recent decision of the us
supreme court which limited the powers of the u s environmental protection agency epa the recent
supreme court opinion on the west virginia lawsuit against the environmental protection agency has
yielded results that show that the supreme court can begin to limit the arbitrariness
of agencies such as the sec and matters that should be under the control of congress
it is possible that the current composition of the scotus supreme court may be more inclined
to weaken the power of government agencies and limit the powers of agencies such as the
sec which continues the practice of compulsory regulation if this is indeed the case then in the
case of an appeal by ripple the current situation in the united states may be favorable to her
perry anne boering ceo of the chamber of digital commerce the crypto industry association said on
twitter today's scotus decision challenges the regulatory enforcement approach that the digital
asset industry has been forced to adopt without explicit congressional authorization federal
agencies must proceed cautiously in particular the industry objects to the sec's decision that almost
all cryptocurrencies are securities and are under its jurisdiction this is an argument gensler has
been losing lately after a bipartisan senate bill recommended transferring control of most
cryptocurrencies to the commodity futures trading commission cftc the environmental protection
agency's decision signals that the supreme court will not look favorably on regulators
like the sec trying to change the boundaries of their jurisdiction beyond what clearly applies
to congress there is a core issues doctrine that states that courts should generally not rely on
agency law interpretations that deal with issues of enormous economic or political significance
it is currently unknown whether this new doctrine will be affected in the xrp lawsuit but it is
definitely of great importance the question is whether cryptocurrency will be considered
as an issue of enormous economic or political significance corresponding to the argument of
the doctrine of fundamental issues lawyer john deaton said that he may sue the securities and
exchange commission assisi in connection with the failure to comply with his request under the
freedom of information act foia about the official calendar of william hinman when he was director
of the agency for corporate finance according to deaton's lawyer the sec responded to his freedom
of information act request stating that hinman's calendar was created for personal use and is not
related to the agency's affairs it looks like i have to sue the sec because of my freedom of
information act request about the hinman calendar initially the sec argued that the calendar was
created only for his personal convenience and does not represent agency business is it possible
to believe in such nonsense he claimed that the sec had lied and that hinman's calendar was not
used to conduct the agency's business deaton's lawyer added a screenshot of one of the documents
shared by the popular american whistleblower in power oversight accusing hinman of violating sec
rules in an attempt to confirm his allegations i appealed this absurd conclusion arguing that other
agency employees would have relied on his calendar to conduct agency business we have evidence due
to the fact that empire underscore us sued the sec deaton's lawyer added it is worth noting
that lawyer deaton and the sec have not been best friends since the beginning of the trial according
to the crypto basic the sec recently objected to deaton's attorney's request to represent 67 000
xrp holders in the upcoming daubert trial the issue has since sparked a series of debates the
securities and exchange commission also condemned deaton's lawyer for disclosing the personal data
of one of his experts who was harassed by members of the xrp community on the guidance front the
division of corporation finance has been heavily involved for some time some of the initial in
more formal guidance in this area was provided in a joint statement that we and our colleagues in
the division of enforcement put out in conjunction with the july 2017 dow report of investigation
since then we have been providing further guidance through speeches statements most recently working
with the fin hub to publish the framework for investment contract analysis of digital
assets that val is mentioned that really is the framework that we use to analyze whether we think
an asset may fall within the securities laws and we shared it to to help move that analysis forward
the securities and exchange commission assisi has requested permission from the court to file one
complex large motion to exclude or limit expert testimony to 120 pages the sec intends to file
motions to exclude or restrict the testimony of 10 experts hired by ripple labs and or chris a
larson and brad garlinghouse the defendant's ripple and its executives do
not object provided they are allowed the same page limit for their objections the agency noted
that 10 experts have already submitted numerous reports on various issues related to the trial
it is noteworthy that the reports submitted by these experts amount to more than 500 pages
excluding appendices in order to save the resources of the court and the securities and
exchange commission the securities and exchange commission proposes to file one comprehensive
petition that combines what would otherwise be ten separate petitions against the defendant's
experts into one summary the securities and exchange commission noted lawyer james felin
announced this on his twitter page as noted in the comments this is a very routine and common
step in high-stakes lawsuits ripple is going to do the same for all the experts of the securities
and exchange commission this is probably why ripple needed to hire two more lawyers
the sec has sought permission to file one omnibus big motion to exclude or limit expert testimony
up to 120 pages long ripple defendants do not object provided that they be allowed the same
page limit for their response in opposition what do you think are the prospects for xrp in 2023
write your forecasts in the comments thank you for watching this video to the end
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