{"id":10375,"date":"2023-11-06T23:06:59","date_gmt":"2023-11-06T23:06:59","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/xrp-price-pumps-16-eyes-test-of-yearly-highs-near-1-0-as-crypto-community-discusses-potential-99-9-victory-for-ripple-versus-sec\/"},"modified":"2023-11-06T23:07:00","modified_gmt":"2023-11-06T23:07:00","slug":"xrp-price-pumps-16-eyes-test-of-yearly-highs-near-1-0-as-crypto-community-discusses-potential-99-9-victory-for-ripple-versus-sec","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10375","title":{"rendered":"XRP Price Pumps 16%, Eyes Test of Yearly Highs Near $1.0 as Crypto Community Discusses Potential 99.9% Victory for Ripple Versus SEC"},"content":{"rendered":"<div>\n<figure id=\"attachment_127703\" aria-describedby=\"caption-attachment-127703\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127703\" class=\"wp-caption-text\">XRP Logo \/ Source: Adobe<\/figcaption><\/figure>\n<p>The US Security and Exchange Commission (SEC)\u2019s losing streak in its ongoing lawsuit versus US fintech company and the creator of the XRP cryptocurrency Ripple Labs continued last week.<\/p>\n<p>That\u2019s according to a tweet by Ripple Labs\u2019 Chief Legal Officer Stuart Alderoty, who said last Friday that \u201cthe 2d Circuit in SEC v Govil held that the SEC can\u2019t ask for a crippling disgorgement award w\/o (without) first proving that \u201cinvestors\u201d suffered actual financial harm\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Another loss this week for the SEC \u2013 the streak continues. The 2d Circuit in SEC v Govil held that the SEC can\u2019t ask for a crippling disgorgement award w\/o first proving that \u201cinvestors\u201d suffered actual financial harm. In other words, no harm, no foul.<\/p>\n<p>\u2014 Stuart Alderoty (@s_alderoty) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/s_alderoty\/status\/1720491980910714923?ref_src=twsrc%5Etfw\">November 3, 2023<\/a><\/p>\n<\/blockquote>\n<p>In other words, the SEC can\u2019t hit Ripple Labs with a huge fine unless they can prove that investors suffered significant financial harm, which, given the strong performance of the XRP cryptocurrency since its creation, will likely be very challenging to prove.<\/p>\n<p>Optimism about Ripple\u2019s winning momentum against the SEC could partially explain why XRP has been vaulting higher in recent sessions.<\/p>\n<p>XRP was last trading just above $0.71, up more than 15% since Saturday.<\/p>\n<p>Another reason that XRP could be pumping is technical momentum.<\/p>\n<p>The cryptocurrency faced significant resistance in the $0.55 to $0.5850 area, but since breaking above this zone, doesn\u2019t really face any real resistance until the yearly highs in the $0.95 area.<\/p>\n<figure id=\"attachment_127706\" aria-describedby=\"caption-attachment-127706\" style=\"width: 1787px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-127706\" class=\"wp-caption-text\">XRP Chart \/ Source: TradingView<\/figcaption><\/figure>\n<p>So while XRP has pumped 15% in the last two days, gains of more than 30% from current levels are well within the scope, assuming the broader crypto market keeps moving higher and optimism regarding the Ripple vs SEC lawsuit remains.\n<\/p>\n<h2><strong>If Ripple Labs Ends Up Paying $20 Million, It\u2019s a 99.9% Legal Victory<\/strong><\/h2>\n<p>\nJohn E Deaton, a lawyer who closely follows the Ripple vs SEC lawsuit, chimed in to the conversation on X (formerly Twitter) started by Stuart Alderoty, claiming that anyone who has argued that the SEC got a 50-50 victory in the Ripple case earlier this year are 100% wrong.<\/p>\n<p>Deaton was referring to a ruling by a judge in July that Ripple Labs\u2019 sales of XRP didn\u2019t necessarily break US securities law.<\/p>\n<p>The decision \u201cwas more like 90-10 in Ripple\u2019s favor,\u201d he noted, adding that \u201cif Ripple ends up paying $20M or less it\u2019s a 99.9% legal victory\u201d.<\/p>\n<p>Not all of crypto community on X were in agreement.<\/p>\n<p>According to Tierion CEO Wayne Vaughan, \u201cvictory against the SEC means you pay a small fine and live to see another day\u2026 It\u2019s even better if you settle and don\u2019t have to bear the expense of a long court case\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Victory against the SEC means you pay a small fine and live to see another day. It\u2019s even better if you settle and don\u2019t have to bear the expense of a long court case.<\/p>\n<p>\u2014 Wayne Vaughan (@WayneVaughan) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/WayneVaughan\/status\/1720880516050686229?ref_src=twsrc%5Etfw\">November 4, 2023<\/a><\/p>\n<\/blockquote>\n<p>Others, such as Crypto Advisor, complained that the SEC should pay compensation for the damage they caused to XRP investors.<\/p>\n<div class=\"embed-container\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The SEC should be paying <a href=\"https:\/\/twitter.com\/hashtag\/XRPHolders?src=hash&amp;ref_src=twsrc%5Etfw\">#XRPHolders<\/a> compensation for the damage they caused to our investments, based on their lack of faithful allegiance to the law<\/p>\n<p>&mdash; Crypto Adviser (@Crypto__Advisor) <a href=\"https:\/\/twitter.com\/Crypto__Advisor\/status\/1720922424491864088?ref_src=twsrc%5Etfw\">November 4, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/xrp-price-pumps-16-eyes-test-of-yearly-highs-near-1-0-as-crypto-community-discusses-potential-99-9-victory-for-ripple-versus-sec.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP Logo \/ Source: Adobe The US Security and Exchange Commission (SEC)\u2019s losing streak in its ongoing lawsuit versus US fintech company&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-10375","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>XRP Price Pumps 16%, Eyes Test of Yearly Highs Near $1.0 as Crypto Community Discusses Potential 99.9% Victory for Ripple Versus SEC | inFundPros<\/title>\n<meta name=\"description\" content=\"XRP Logo \/ Source: Adobe The US Security and Exchange Commission (SEC)\u2019s losing streak in its ongoing lawsuit versus US fintech company and the creator of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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