United Investment Limited - XRP is gaining traction as it approaches a possibly significant triumph

CENTRAL, Hong Kong - Jan. 5, 2023 - PRLog -- Investors think Ripple Labs, the firm behind XRP, is on the cusp of a significant court victory in the issue that has plagued the company for the past two years.

In 2020, the Securities and Exchange Commission (SEC) sued Ripple, alleging that the company failed to properly register XRP as a security and failed to give enough information to investors.

The case has received a lot of attention in the cryptocurrency world because the SEC thinks that many cryptocurrencies are unregistered securities that should be regulated by the SEC. Proponents of cryptocurrencies have suggested that they are more analogous to commodities and as such, should be regulated by the Commodities Futures Trading Commission (CFTC). The outcome of the lawsuit might have a significant influence on this argument.

The dispute appears to be nearing its conclusion, as both Ripple and the SEC recently filed separate filings requesting that the U.S. District Court for the Southern District of New York issue a summary decision.

XRP investors and management believe the company is on the verge of success and its stock price has risen this week despite challenges in the larger crypto market. Ripple CEO Brad Garlinghouse seemed to be upbeat as well.

"As the summary judgment filings became public, people recognized that perhaps the SEC is truly overreaching," Garlinghouse said on Fox Business. "We believe [the court] has the essential facts to make the judgment, and we believe the SEC is severely beyond its power."

Ripple seemed to be on the verge of triumph. SEC Chairman Gary Gensler appears to have changed his stance on this issue, recently stating that he believes Bitcoin and Ethereum should be regulated by the CFTC, which surprised many.

With XRP pushing so aggressively against the larger crypto market, which is unusual these days, a victory for Ripple would be wonderful news for XRP which may allow the rise to continue.

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