logo |

News

    Home   >     Industry    >     Main body

    Ripple’s XRP Relist Campaign Gathers Steam on Twitter.

    Abstract:XRP enthusiasts’ latest campaign comes as a hearing in the SEC lawsuit showed 'surprise bombshells' in favor of Ripple.
    Ripples

      Ripples XRP Relist Campaign Gathers Steam on Twitter.

      XRP enthusiasts latest campaign comes as a hearing in the SEC lawsuit showed 'surprise bombshells' in favor of Ripple.

      The hashtag ‘RelistXRP’ began trending on Twitter in many countries as thousands of accounts dedicated mostly or entirely to XRP continued to flood the social platform for the second consecutive day.

      Search Twitter for XRP-related content, and you will find the so-called ‘XRP Army’ publicly expressing their opinion that major crypto exchanges should undo their decision to delist their favorite token. At press time, XRP was up around 10% and trading at $0.56.

      XRP enthusiasts‘ latest campaign comes as a discovery hearing in the SEC ongoing lawsuit against Ripple produced ’surprise bombshells in favor of the blockchain firm. Attorney Jeremy Hogan said in a YouTube video that the judge hearing the case apparently supports the idea that XRP is more like a currency than a security.

      “My understanding about XRP is that not only does it have a currency value, but it has a utility, and that utility distinguishes it from bitcoin and ether,” Hogan quoted the judge.

      Hogan, who is not involved in the case, analyzed that this attitude would allow exchanges that delisted XRP to submit no-action letter requests concerning their dealings in the Ripples token.

      Ripple Responds to SEC in Court

      As a result, there is now a new hope among XRP fans that crypto platforms could lift their ban on XRP trading, even before a final ruling from the court. And, by coordinating and working together on several topics touching on the case, the ‘XRP Army’ aims to alter public opinion across social media.

      As Finance Magnets reported, the SECs lawsuit was filed against Ripple CEO, Brad Garlinghouse and Co-Founder, Chris Larsen, alleging that they have raised $1.3 billion via ongoing, unregistered securities offerings since 2013.

      Although Ripple said it will contest the charges, the legal battle with the SEC could take years if the company fights the charges in court. As such, those who keep the token listed on their platforms may be at risk of being sued and fined if the SEC wins its case, and the court deems XRP as unregistered securities.

      While the SECs lawsuit is a long way from being ruled upon, crypto exchanges have been careful about not associating with illegal assets.

      The Ripple‘s legal team assails the SEC’s $1.3 billion lawsuit, arguing that the agency is simply “Out of Step Domestically and Globally.” Additionally, they explained that before this case, no securities regulator in the world has deemed XRP as securities.

      In the meantime, the Ripple team says that US regulators (the Department of Justice and FinCEN) determined in 2015 and 2020 that XRP is a virtual currency. And, although the Trump administration sought to overturn this ruling, which was originally made during the Obama era, their token has been regulated as a non-security.

    image.png

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of FX919 comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. FX919 doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. FX919 will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by FX919 are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the FX919 site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with FX919, the client should bear full responsibility for their consequences.