the court issued one of the most important decisions in the case of ripple v
sec how much will xrp cost after the sec trial who does the judge support in this case we will answer
these questions in today's video the live xrp price today is dollar zero three three seven eight
zero zero usd with a 24 hour trading volume of six hundred and twenty million two hundred and sixty
six thousand seven hundred and sixty one dollar usd we update our xrp to usd price in real time
xrp is down 1 51 in the last 24 hours welcome to the rich club channel if you like this video don't
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write the word xrp watch the video to the end to like and subscribe ripple xrp tried to break
through the resistance line of the symmetrical triangle but the bears had other plans they
aggressively defend this level and try to lower the price below the 20-day ema zero dollars 33
again if they succeed the xrp usdt pair can extend its stay inside the triangle for some more time
a flat 20-day ema and rsi near the midpoint do not give a clear advantage to either buyers or sellers
a breakout and closing above the triangle may indicate the beginning of a new upward movement
then the pair can grow to the target of the model at zero dollars forty eight alternatively a break
below the triangle could open the doors for retesting at zero dollars twenty eight the price
of xrp is held by the base of the bearish figure as it has fluctuated slightly above this level
over the past four weeks in this case the level can last another week however if he fails to do so
the next target for the xrp price is zero dollars 2464. at the moment the weekly xrp chart looks
bearish given the fact that the 9x exponential moving average ema is located below the longer
20-day ema looking at the slope of the nine ema line it seems that the short-term weekly bearish
trend is gaining strength the sec case against ripple took a new turn after the amici curie brawl
the sec's last step was to file a comprehensive motion to exclude or restrict expert testimony
according to court documents the ripple team accepted this petition on condition
the sec's regulatory oversight body filed this petition on july 6 as well-known lawyer james
k phelan reported in a thread the sec intends to file petitions to exclude or limit the testimony
of 10 experts hired by ripple labs this may also include independent experts such as christian a
larson and bradley garlinghouse the securities and exchange commission has requested permission
to file one comprehensive large motion to exclude or limit expert testimony to 120 pages
ripples defendants do not object provided they are allowed the same page limit for their objections
called an attempt to preserve judicial and sec resources ripple accepted the motion on
condition the condition allows them to have a similar page limit in their response to traffic
it has since been accepted by the sec and is now approved by judge torres the proposed limit of 120
pages is less than the proposed limit of 15 pages per expert the securities and exchange commission
believes that this limit will be sufficient for the securities and exchange commission to
present its facts and support its position on the case with this move the drama of the court battle
between the sec and ripple is taking it to a new level let's see what the consequences were for the
xrp token the court granted ripple's petition and allowed her to add two new lawyers to her
legal team earlier the petition was rejected because it did not comply with the rules
after which an amended petition was filed both motions to appear pro hack vice have been granted
the court granted the sec's request to file a 120-page consolidated petition district judge
anna-lysa torres granted the sec's request to file a 120-page consolidated motion to limit or exclude
the testimony of 10 ripple experts district judge torres has granted the sec's motion for permission
to file a 120 page omnibus big motion to exclude or limit the expert testimony of ten ripple
garlinghouse or larson experts the defendants did not object to this request but demanded that they
also be allowed the same page limit when filing an objection to the sec proposal a legal expert
warns that an unfavorable decision on the u.s securities and exchange commission sec lawsuit
against ripple will be bad for the cryptocurrency john e deaton managing partner at deaton law firm
says the outcome of the sec lawsuit alleging that xrp is a security will determine whether almost
all other existing altcoins are securities given that the us congress is not going to
clarify regulation especially in an election year after the supreme court overturned roe v
wade the decision of judge annalisa torres in the southern district of new york will decide whether
the sec has jurisdiction over existing altcoins that have been traded for years the sec not only
claims that the way ripple offers and sells xrp is illegal but also that all xrp are unregistered
securities this is the functional equivalent of the statement that oranges or groves in the secv
wj howie co case were securities if successful almost every second altcoin is a security
the case is sec wj howie co related to the howie test which is the standard used to determine
what is or is not a security under you s law consequently and in response to the lawsuit filed
this week against the developer solana sol solana labs which claims that the ninth largest crypto
asset is a security deaton says that there will be more such lawsuits against crypto organizations
if xrp is recognized as a security safety only the beginning if xrp is considered a security
most likely dozens if not hundreds of class actions will be filed but not only against
exchanges coinbase has already been sued but also against the alleged promoter of altcoin
ripple has already been sued over xrp experts claim that the plaintiff intends to file this
petition in order to put pressure on the company's defense team and exclude initial and or counter
reports on various topics with the participation of experts several requests are contained in the
consolidated petition court petitions allow the parties to systematically present or raise
additional issues related to the case according to the securities and exchange commission the
defendants agreed to a summary that would not exceed 120 pages provided that the same
length limit would apply to their opposition response the sec also had no objections lawyer
fred rispoli discusses the significance of this saying ripple will also oppose the sec experts
now you understand why ripple recently hired two more lawyers the case represents an escalation
of an already fierce judicial conflict that has repeatedly made headlines the deadline
for making a decision on the petition is set for july 12th the future of cryptocurrencies depends
on a specific case brought by the sec against the fintech company ripple whose 15 billion
xrp currency ranks 7th in market value the lawsuit which was filed on december 22nd
2020 claims that ripple illegally received more than one dollar three billion the securities
and exchange commission claims that larsen and garlinghouse neglected the legal indication of
their offer and sale of xrp to investors depriving potential buyers of sufficient information about
the cryptocurrency and the nature of ripple's operations if the sec wins its legal standoff
with ripple xrp will be classified as a security and not as a digital currency in the united states
this may create a legal precedent that will lead to the classification of other cryptocurrencies as
securities now we can only guess when this eternal judicial fight will end meanwhile the price of xrp
has increased by eight percent compared to the previous week and analysts expect the elf coins
uptrend to continue lawyer james phelan said on twitter that the application for admission
was rejected due to non-compliance with local regulations he noted that the testimony was not
notarized meanwhile phillyn later stressed that the amended applications for admission to pro hack
vice have now been filed with notarized affidavits the new supporters who have joined the ripple team
belonged to kellogg hanson the defendants call this a huge step as the long-standing trial is
now moving towards a simplified trial process attorney jeremy hogan stressed that the new
addition will allow the team to conduct additional research before proceeding to decisive proceedings
however he also mentioned that an important decision will be made this week on hinman's emails
in the meantime the commission has filed a letter requesting permission to file one comprehensive
motion to exclude or restrict expert testimony he added that the defendants do not object to
this petition ripple will also be able to file an objection within the same number of pages
the sec also agreed to this request the letter mentions that the sec intends to exclude the
testimony of 10 experts these experts were hired by ripple labs and individual defendants
in the case expert reports include initial and rebuttal reports on issues related to this case
in order to save the resources of the court and the securities and exchange commission
the authorities propose to file a comprehensive petition 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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