Charting the course of XRP

[Julian_Williams]

27 minutes ago, JJJ2 said:

apparently SEC has not yet filed the lawsuit. So we are not yet so far.

I imagine this situation will be top of the list for things to get a handle on when new SEC admin take over.  Quite likely they will use this as an excuse for clarifying and getting the US into line with the rest of the world.

[Baka]

34 minutes ago, BillyOckham said:

Mate can I ask what was it at 57 that said to you ‘sell now’?

Thats a great move and all kudos to you for pulling that off,  but speaking as one who just went backwards by 13% in a similar move that went wrong....    how did you know to do that?

If you’d rather keep it to yourself then that’s fine...  I understand and have no problem with that.  Thanks.

I wasn't expecting the lawsuit , but I was sure we would see lower 0.5x or even 0.4x 

The reason is , even if we re in a bull market , we have to see red candles really soon for BTC and I'm waiting for a big pullback to the 17-20k$ in the coming weeks before going to 30k+

I was expecting a lower BTC so a lower XRP , and XRP chart isnt as good as BTC or ETH.

 

Also , it's my play stash I'm trading with , so I don't stress as much and it makes it easier for me

Edited December 22, 2020 by Baka

[JJJ2]

25 minutes ago, Julian_Williams said:

I imagine this situation will be top of the list for things to get a handle on when new SEC admin take over.  Quite likely they will use this as an excuse for clarifying and getting the US into line with the rest of the world.

this may even have better outcome then expected.

[Julian_Williams]

24 minutes ago, JJJ2 said:

this may even have better outcome then expected.

It is very unusual for a defendant to announce an lawsuit before the plaintiff.  This seems to indicate SEC are vacillating and Ripple have taken the inniative, almost as if they are saying "OK screwballs, we dare you".  SEC have to make up their mind or be left looking stupid. 

Edited December 22, 2020 by Julian_Williams

[7Sol]

I closed my last hedged shorts and now net long XRP.

My mind seems to work in reverse.

I view the reaction to the lawsuit disproportionate as to the impact it may have. If anything, addressing that liability now, clears the future for Ripple. That is not to say XRP won't track back to 0.33 even lower, pursuant BTC action.

[retep]

When btc is doing a step down, xrp does 3 steps down, and as soon btc does 3 steps up, xrp does 1 step up,

and thats why btc is at 23,3k right now and xrp at 0,47 and that sucks!

 

[WuWei]

5 hours ago, Julian_Williams said:

It is very unusual for a defendant to announce an lawsuit before the plaintiff.  This seems to indicate SEC are vacillating and Ripple have taken the inniative, almost as if they are saying "OK screwballs, we dare you".  SEC have to make up their mind or be left looking stupid. 

I agree as Ripple has been working for years to get this resolved. This might be a brilliant move on their part to actually force the issue; especially if they believe that they're on the cusp of a major breakout of adoption. It's possible that they revealed their intentions of moving forward in very specific manners, knowing that this would necessarily trigger an immediate reaction. There's no way that this issue can be ignored any longer, especially with the changing of the guard within the SEC - it's going to be dumped right in the lap of whomever takes over: day one. I think that this is coming from a position of power on Ripple's part, and that they're pretty much prepared for whatever the outcome might be, just so long as they can get regulatory certainty. This is the critical missing piece of the puzzle and I sense that this is likely to result in a global "flip of the switch" moment for ODL adoption. 

[Gamblord]

According to a Yahoo article I read:

The SEC’s case will reportedly allege that, because Ripple owns most of the supply, XRP counts not as a currency but an unlicensed security, akin to company shares. The SEC will allegedly claim Ripple has been selling these securities without authorisation from the regulator.

 

If this is the reason I think they can afford to burn billions in XRP to put their company in compliance with the SEC and get the clarity they've been begging for.

[jbjnr]

7 hours ago, Julian_Williams said:

Ripples silence over the fall in ODL on Utility-scan.com really bothered me.  That they said nothing seemed to me an indication that they must be hiding a major failure, and it was a red flag to my hitherto unshakable confidence in the honesty of the team managing the XRP ecosystem.

It's interesting that they stopped most of the ODL traffic almost 2 weeks ago - and David Schwartz was unhappy about something before that - and only now do we hear the news. Clearly they knew this was coming - I find it a bit strange that ODL stopped so far ahead of this announcement. Were they told to stop transactions, or did they do it just to play safe? - or perhaps only ones that they are directly in control of, as opposed to the channels that are still going that maybe do not need any intervention from ripple themselves (ones that are perhaps not receiving subsidies or xrp top-ups perhaps). (...and is it normal for a company to announce that they are going to be sued by someone - instead of the other someone to file some court order and the news to come out that way).

Sorry - Just thinking out loud. Don't mean to take this thread off topic. Back to TA...

[Julian_Williams]

4 minutes ago, jbjnr said:

It's interesting that they stopped most of the ODL traffic almost 2 weeks ago - and David Schwartz was unhappy about something before that - and only now do we hear the news. Clearly they knew this was coming - I find it a bit strange that ODL stopped so far ahead of this announcement. Were they told to stop transactions, or did they do it just to play safe? - or perhaps only ones that they are directly in control of, as opposed to the channels that are still going that maybe do not need any intervention from ripple themselves (ones that are perhaps not receiving subsidies or xrp top-ups perhaps). (...and is it normal for a company to announce that they are going to be sued by someone - instead of the other someone to file some court order and the news to come out that way).

Sorry - Just thinking out loud. Don't mean to take this thread off topic. Back to TA...

The timing is perhaps Ripples not SECs.  This looks like an astute move by Ripple Lawyers to gain clarity.  The normal outcome would be a fine and regularity clarity like what happened with Kik, a much more brazen case.  

Edited December 22, 2020 by Julian_Williams

[XRPchef]

8 hours ago, Troote said:

Chances are, if XRP tanks, it will scare you off and you will pass up again.

Na, I just wasn’t paying much attention to crypto, I am again now.

[Troote]

1 hour ago, Julian_Williams said:

The timing is perhaps Ripples not SECs.  This looks like an astute move by Ripple Lawyers to gain clarity.  The normal outcome would be a fine and regularity clarity like what happened with Kik, a much more brazen case.  

No. The SEC publishes a Wells notice before suing formally. That gives the target company a notice that a law enforcement action is in progress, and gives some time to clarify things before the actual law suit. Ripple's answer is to the Wells notice. So no, Ripple is not in control of the agenda, the SEC is.

It is possible that Ripple received the notice 30 days ago (they have up to 30 days to answer and they have done just that yesterday). It is most likely why everything slowed down 2-3 weeks ago.

There is no genius political or clarity seeking move here. They got a nasty letter, they answered the nasty letter and are hoping for the best. They have made the answer public because they are legally obliged to give a public answer. Even if Brad had not made a loud announcement, someone would have leaked the information from public records anyway and it would have been worse. Being loud about it is also a way to get their supporters/the ecosystem to speak up and stop the SEC in its tracks. This is all there is to it.

Ripple is on the back foot. Period. Claiming otherwise or saying "brilliant move from Ripple who is forcing the issue" is conspiracy theory type of misinformation.

More about Wells notices: https://en.m.wikipedia.org/wiki/Wells_notice

Ripple's answer to the Wells notice (the title of the document leaves no room for doubt about the nature of the current discussions): https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

On the bright side, if the SEC is satisfied, there may be no lawsuit. There may be a settlement straight away. Or there may be a multi-year sh*t show. We'll see.

Edited December 22, 2020 by Troote

[Gamblord]

49 minutes ago, Troote said:

No. The SEC publishes a Wells notice before suing formally. That gives the target company a notice that a law enforcement action is in progress, and gives some time to clarify things before the actual law suit. Ripple's answer is to the Wells notice. So no, Ripple is not in control of the agenda, the SEC is.

It is possible that Ripple received the notice 30 days ago (they have up to 30 days to answer and they have done just that yesterday). It is most likely why everything slowed down 2-3 weeks ago.

There is no genius political or clarity seeking move here. They got a nasty letter, they answered the nasty letter and are hoping for the best. They have made the answer public because they are legally obliged to give a public answer. Even if Brad had not made a loud announcement, someone would have leaked the information from public records anyway and it would have been worse. Being loud about it is also a way to get their supporters/the ecosystem to speak up and stop the SEC in its tracks. This is all there is to it.

Ripple is on the back foot. Period. Claiming otherwise is conspiracy theory type of misinformation and makes me angry.

More about Wells notices: https://en.m.wikipedia.org/wiki/Wells_notice

Ripple's answer to the Wells notice (the title of the document leaves no room for doubt about the nature of the current discussions): https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

On the bright side, if the SEC is satisfied, there may be no lawsuit. There may be a settlement straight away. Or there may be a multi-year sh*t show. We'll see.

 

This is the most clarity I've read on this entire forum. Thanks.

[Dario_o]

1 hour ago, Troote said:

No. The SEC publishes a Wells notice before suing formally. That gives the target company a notice that a law enforcement action is in progress, and gives some time to clarify things before the actual law suit. Ripple's answer is to the Wells notice. So no, Ripple is not in control of the agenda, the SEC is.

It is possible that Ripple received the notice 30 days ago (they have up to 30 days to answer and they have done just that yesterday). It is most likely why everything slowed down 2-3 weeks ago.

There is no genius political or clarity seeking move here. They got a nasty letter, they answered the nasty letter and are hoping for the best. They have made the answer public because they are legally obliged to give a public answer. Even if Brad had not made a loud announcement, someone would have leaked the information from public records anyway and it would have been worse. Being loud about it is also a way to get their supporters/the ecosystem to speak up and stop the SEC in its tracks. This is all there is to it.

Ripple is on the back foot. Period. Claiming otherwise or saying "brilliant move from Ripple who is forcing the issue" is conspiracy theory type of misinformation.

More about Wells notices: https://en.m.wikipedia.org/wiki/Wells_notice

Ripple's answer to the Wells notice (the title of the document leaves no room for doubt about the nature of the current discussions): https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

On the bright side, if the SEC is satisfied, there may be no lawsuit. There may be a settlement straight away. Or there may be a multi-year sh*t show. We'll see.

Thanks

[Troote]

It is going to court. Sh*t show it is.

https://www.sec.gov/news/press-release/2020-338

Edited December 22, 2020 by Troote