If you want to make a profit with Ripple, there are two crucial things you must be aware of. In this article, we will explore what aspects to pay attention to in order to generate income with Ripple.
U.S. court rejects interim appeal from Securities and Exchange Commission (SEC)
Expectations for the rise of the Ripple coin are growing. This is because the ‘securities risk’ that led to the 70% surge last July was once again shaken off.
According to the industry on the 8th, the Southern District Court of New York dismissed the interim appeal requested by the U.S. Securities and Exchange Commission (SEC) in the lawsuit against Ripple on the 3rd (local time). The objection raised by the SEC was not accepted, saying that Ripple’s securities nature needed to be reexamined.
Following the dismissal of the appeal, Ripple appears to have once again escaped the major negative factor, securities risk. This is because the court’s previous ruling that ‘Ripple is not a security’ was interpreted as maintaining the same position.
Stuart Alderotti, Ripple’s Chief Legal Officer (CLO), said in an official statement, “The court’s ruling on July 13 was the law of the land and remains in effect,” and added, “It has proven once again that Ripple is not a security.”
The possibility of an SEC appeal has been considered a variable in Ripple price. As Ripple surpassed the 1,000 won level immediately after winning the securities ruling, there are concerns that the SEC appeal will immediately turn into bad news for Ripple.
The market has reflected some of the diluted concerns. Immediately after the dismissal of the interim appeal was announced, Ripple soared by more than 5%. Although it is a limited increase compared to the surge in July when the case was won, it is a good performance considering that it is a bear market in which major altcoins are falling one after another.
Rising expectations for new business expansion for Ripple coin
Active business activity also fuels upward expectations. Ripple announced on the 6th that it had officially acquired a major payment institution license (permission) from the Monetary Authority of Singapore.
Ripple plans to accelerate the introduction of virtual asset-based payment solutions through this license. In particular, as it has received official permission from Singapore, known as the mecca of virtual assets, the goal is to use this as an opportunity to expand Ripple coin’s global business further.
“Singapore is Ripple’s global business center,” said Ripple CEO Brad Garlinghouse. “We plan to continue to expand our presence in progressive regions like Singapore.”
Meanwhile, the next trial date for Ripple and the SEC has been set for April 23 next year. In the trial, the court plans to examine whether CEO Garlinghouse and co-founder Chris Larson were involved in Ripple’s institutional sales and whether they violated securities laws.
In conclusion, Ripple coin has recently experienced significant developments that have rekindled hopes for the cryptocurrency’s investors. The U.S. court’s rejection of the SEC’s interim appeal has provided Ripple with much-needed stability, as it reaffirms the previous ruling that “Ripple is not a security.” This decision eases concerns about the potentially adverse impact of an SEC appeal on Ripple’s price, leading to a positive market response with a more than 5% surge in value.
Moreover, Ripple’s acquisition of a major payment institution license from the Monetary Authority of Singapore signals a promising avenue for business expansion. With plans to introduce virtual asset-based payment solutions, Ripple is poised to capitalize on Singapore’s reputation as a hub for virtual assets, using this as a launching pad for global growth.
As we look ahead, the next trial date for Ripple and the SEC is set for April 23 next year, with a focus on assessing CEO Brad Garlinghouse and co-founder Chris Larson’s involvement in Ripple’s institutional sales and potential violations of securities laws. While the outcome of the trial remains uncertain, Ripple’s recent developments have instilled confidence in its investors, making it an intriguing asset to watch in the evolving world of cryptocurrency.