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Also Read:BRICS Advancing To Eliminate U.S. Dollar Financial System. It emerged that the U.S. Securities and Exchange Commission (SEC) was building a case against Ripple, and its two most senior executives, over securities fraud. The XRP price has seen a drop in the last few days. Here are some minerals these companies extract: Precious metals: gold, silver, platinum, palladium Industrial metals: iron, ore, zinc, cobalt, lithium, nickel, copper, aluminum Construction materials: sand, crushed stone, limestone Energy materials: coal, oil sands, uranium Fertilizers: boron, potash, phosphate How can you find good mining stocks? The most relevant question now remains, would the SEC look back at its actions as a mistake if the defendants end up winning this particular motion? Even though the price corrected to $0.42, investors and experts are looking forward to XRP reclaiming its all-time high at $3.40 and blasting to $50 in the long term if there is a positive outcome from the lawsuit. The cases soul, for now, resides in the aforementioned defense, for Ripple at least. The latest development is that the SEC has asked the court to dismiss the case, arguing that Ripples actions do not fall under the purview of securities laws. Whats happened to the xrp lawsuit? His portfolio consists mainly of blue chip dividend paying stocks and index funds. How is Ripples litigation with the SEC going? However, they also predicted what could happen if Ripple loses the case against the SEC. So, Ripple Labs is very important to XRPs future. The mining sector makes up a large portion of Canadian stocks, with the TSX having more mining stocks than any other market in the world. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice. Were Ripple to lose the lawsuit, it would face enormous costs. Know the mining industry The mining industry is fairly complex. A win against the SEC (Securities and Exchange Commission) is crucial for this to happen. Also Read: Dogecoin: ChatGPT Shows the Best Possible Way for DOGE To Reach $1. Coinbase has announced that XRP will be delisted on December 28, 2020. Commenting on the odds of the blockchain firm winning the same, renowned attorney Jesse Hynes recently opined, I expect Ripple/def to defeat the SECs option to dismiss the fair notice defense. For that reason, youll rarely see growth companies, small caps, or start-ups issue dividends. You can hire fancy firms, but the law is the law. Palley is a crypto lawyer that has remained skeptical about Ripples chances of success in the case from the beginning. The verdict is expected to be announced in the coming months, and there are conflicting reports about which way it could go. On May 22, 2018, Ripple Labs Inc. and XRP II, LLC filed a lawsuit against YouTube LLC in the Superior Court of the State of California. [{"url":"https:\/\/cryptonews.com\/news\/best-crypto-to-buy.htm","name":"Best crypto to buy now","children":[]}]. Efficiency ratio: the efficiency ratio tells you how much revenue a bank uses towards its operating costs. Read the best crypto stories of the day in less than 5 minutes. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The demand for XRP is still high outside the U.S. as external exchanges strive to list the token on their platforms. XRP price will likely consolidate at $0.45 before trying another move up. What are energy stocks? He aims to decouple the industry from its perceived complexities and strives to be a voice of crypto awareness and education. Forbes makes no representations or guarantees that the data, information, research, analysis, and software available on or via Forbes will be accurate or complete. The SEC, for its part, has had a flawed run at the case, according to many. Emphasizing that he is betting that Ripple will win the case against the securities regulator, the executive affirmed: Im betting that because I think the facts are on our side. A wide range of jurisdictions are also unsure or ambiguous about the status of cryptographic tokens, digital assets, and blockchain technology. Usually, the trend changes bullishly with support at the second bottom, allowing buyers to take control. Even though the price corrected to $0.42, investors and experts are looking forward to XRP reclaiming its all-time high at $3.40 and blasting to $50 in the long term if there is a positive outcome from the lawsuit. XRP cryptocurrency is going down this year primarily because the entire crypto market is going down.