In short: Cardano and Ethereum founder Charles Hoskinson predicts that the Ripple lawsuit will be resolved in June. Ripple Labs has spent over $200M on the lawsuit taking place for 29 months, with the US SEC pressing its case against Ripple Labs since December 2020. The unsealing of the Hinman documents in the case earlier this month was a “huge victory” for Ripple Labs. CEO Brad Garlinghouse has grown more confident in recent weeks. A resolution to the case would be positive for letting the market know what to expect and investors' confidence.
Our quick analysis:
The Ripple vs SEC lawsuit has been going on for 29 months, and Ripple Labs has already spent millions defending itself in court. However, there might be some good news for XRP investors, as Charles Hoskinson, founder of Ethereum and Cardano, mentioned in a recent AMA that the lawsuit could be resolved as soon as next month.
While we wait for the resolution of this lawsuit, Ripple Labs CEO Brad Garlinghouse has become increasingly confident in recent weeks. The unsealing of the Hinman documents was a huge victory for Ripple Labs, as they contain the transcript of a 2018 speech by William Hinman, stating that cryptocurrencies are commodities.
Nevertheless, the lawsuit has been costly for XRP holders. When the SEC filed against Ripple Labs, the price of the native token crashed 17% in 24 hours. The uncertainty of what is going to happen next has reflected on Ripple prices at exchanges. Thus, a resolution to the case, one way or the other, will likely be positive for the market. With it, crypto investors will be able to evaluate XRP market prices with more confidence.
Moreover, it is essential to emphasize that once the case is resolved, markets will be able to focus on other aspects of Ripple's value, such as trends in its network activity and development roadmap.
In case you are an XRP holder or simply interested in cryptocurrencies, it's worth keeping an eye on this. Charles Hoskinson's prediction of the Ripple lawsuit being resolved next month sounds promising. Let's hope he's right, and we can finally conclude this long-awaited lawsuit, leaving uncertainty and losses behind us.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
The Ripple vs SEC lawsuit has been going on for 29 months, and Ripple Labs has already spent millions defending itself in court. However, there might be some good news for XRP investors, as Charles Hoskinson, founder of Ethereum and Cardano, mentioned in a recent AMA that the lawsuit could be resolved as soon as next month.
While we wait for the resolution of this lawsuit, Ripple Labs CEO Brad Garlinghouse has become increasingly confident in recent weeks. The unsealing of the Hinman documents was a huge victory for Ripple Labs, as they contain the transcript of a 2018 speech by William Hinman, stating that cryptocurrencies are commodities.
Nevertheless, the lawsuit has been costly for XRP holders. When the SEC filed against Ripple Labs, the price of the native token crashed 17% in 24 hours. The uncertainty of what is going to happen next has reflected on Ripple prices at exchanges. Thus, a resolution to the case, one way or the other, will likely be positive for the market. With it, crypto investors will be able to evaluate XRP market prices with more confidence.
Moreover, it is essential to emphasize that once the case is resolved, markets will be able to focus on other aspects of Ripple's value, such as trends in its network activity and development roadmap.
In case you are an XRP holder or simply interested in cryptocurrencies, it's worth keeping an eye on this. Charles Hoskinson's prediction of the Ripple lawsuit being resolved next month sounds promising. Let's hope he's right, and we can finally conclude this long-awaited lawsuit, leaving uncertainty and losses behind us.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
0 Comments
Please, behave!