Ripple vs. SEC: Don’t Think That Everything Will Be All Right

CONTENT

  • The SEC can sue all projects that have specific owners

  • Exchanges will continue to delist XRP to protect their interests

  • It’s time for the market to prepare for a new wave of volatility

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Experts told BeInCrypto how the cryptocurrency market will react to the court hearing in the Ripple case, and which project may be next on the SEC’s black list

Lawyer Discusses the Likely Result of SEC v. Ripple and Its Effect on XRP and Other XRP Coin Issues.

There is a month left before the first court session, where representatives of the US SEC will meet face to face with the Ripple team. BeInCrypto’s editors talked to experts to find out how the market is reacting to the current situation and which project may be next on the SEC’s black list.

The news of the US Securities Commission’s lawsuit against Ripple rocked the industry. Rather than teaming up and acting as a united front against the SEC allegations, cryptocurrency exchanges, investment funds and even some Ripple investors decided to get rid of the troubled asset..

Read also: SEC against Ripple: telling who is to blame and what to do

The cryptocurrency market remains very volatile and largely depends on the mood of regulators, so not many people dare to argue with the SEC. How the market will react to litigation with Ripple and who may be next on the SEC blacklist, Russian experts say.

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Pure american history

Sergey Zhdanov, COO, EXMO cryptocurrency exchange, advises not to count on the situation being resolved on February 22. According to the expert, on this day, not a full-fledged court hearing will take place, but only a preliminary pre-trial meeting, at which organizational issues will most likely be resolved..

“First of all, American companies refused from cryptocurrency and in providing services to clients from the United States. Everyone who considered it necessary to react to the information already known has already made decisions. The rest are still in a wait-and-see attitude, following the development of events. And they also expect comments on this case from the new government officials “.

The mood around the project may change if Ripple is able to resolve the conflict out of court. There is such a chance, given the reshuffle of senior positions in the Securities and Exchange Commission (SEC) and the Treasury..

“The pre-trial conference itself in February will most likely not have a significant impact on the XRP rate. It is considered formal, and is even being held online due to the pandemic. The most worrisome in the litigation process may be the court’s decision to ban XRP trading. Apparently, this can happen in subsequent meetings, most likely in the spring, “the expert explained..

If XRP is still banned, the token’s market share will continue to fall, which will play into the hands of Bitcoin and other projects that are already crowding XRP in the ratings.. According to Mikhail Bogdanov, CEO of Koshelek.ru, the process can accelerate if the situation develops in a bad scenario:

“As for the market’s response to this situation, in a bad scenario, delisting and rejection of XRP will continue all exchanges and funds operating in the United States. It will become a necessity for them to continue to work in this market “.

Everyone who wanted to have already fled

According to Tatiana Maksimenko, official representative of the Garantex cryptocurrency exchange, the current XRP price already takes into account the negative impact of the lawsuit from the American regulator, and some more negative news is needed for the price to fall further.

Ripple XRP: SEC Court Case Update Released: Prospect For Settlement

XRP chart. Source: CoinGeko

The expert is sure that the litigation will stretch for many months, during which the token. As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More XRP will either strengthen or fall depending on the information field.

Ripple vs. SEC: don't think everything will work out

BIG NEWS: Ripple (XRP) + Stellar Lumers (XLM) – Bullish Crypto Analysis

“I do not expect the continuation of the massive refusal of exchanges from XRP trading until some significant court decision. Those who wanted to have already suspended the token trading. The rest will wait for final court orders or clarification of the situation. “.

The same opinion is held by Vladislav Utushkin, CEO of TTM Bank. Moreover, he believes that the trial will bring clarity, it will become clear what the SEC is seeking, and in what direction the situation will develop. This will positively affect market sentiment..

“Some exchanges have already rushed to suspend XRP trading. It is possible that after the first meeting, the price of the token will strengthen strongly, and then now is the time to enter this asset, which is essentially lying at the bottom. After the meeting, clarity will appear, and this is in any case a positive signal for the market “.

SEC opens hunt for altcoins

Tatiana Maksimenko noted that sooner or later most altcoins and centralized cryptocurrency projects will be on the SEC’s blacklist. Because there is someone to bring claims against. The regulator will not be able to file a lawsuit against bitcoin – bitcoin does not have a board of directors, a legal entity, a certain centralized authority that makes decisions.

“The SEC has started hunting for altcoins. They will massively file lawsuits against altcoins that have centralized control. It is impossible to do this with bitcoin, there is no person or group of persons who could be brought to trial, ”added Vladislav Utushkin from TTM Bank.

The bottom is yet to come

On the other hand, Oleg Marchenko, trader of the digital asset exchange Binaryx, advises preparing for a new wave of volatility.

“The regulator seeks to impose an injunction on activities, confiscation of illegally obtained income and imposition of fines on the company, which could lead to even greater capital losses. Accordingly, the depreciation of the token is quite likely. In any case, we will see even greater fluctuations in the price of XRP. If today the average price of a coin has fluctuated in the region of 25 – 30 cents, then with a high degree of probability the price can drop to 10 cents per unit. Everything will depend on the decisions made “.

At the same time, he also added that the situation will not be resolved in one day, but if large exchanges begin to abandon the coin, the rate will fall, attracting those who want to buy at a low price in the hope of solving problems.

Disclaimer

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Ripple vs. SEC: Don't Think That Everything Will Be All Right
Ripple vs. SEC: don't think everything will work out
Ripple vs. SEC: don't think everything will work out
Ripple vs. SEC: don't think everything will work out

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