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Charting the course of XRP


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I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

Happy Monthly candle close everyone!  XRPBTC closed above 2555 which was my bullish level. This is a great sign. I think it is now reasonable to expect the next monthly candle to be either a 50% i

4 hours 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.

I’m glad we have people like you that are skeptical and don’t just make everything a positive thing. I like the facts. 

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1 hour ago, Gamblord said:

The situation is bad for XRP price going into the bull cycle next year. I just don't know how bad it is. It could depress the price as btc goes to 100k or it doesn't matter and XRP easily breaks $3.80.

This will pass. There is a lot of emotional selling going on right now. I believe Ripple will have the upper hand in this case. They have a lot of options including leaving the US. The SEC is just trying to flex it's muscle. Basically, they are saying don't ignore us. 

Edited by xrp_sea
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When I came back and looked at crypto after half arsed nearly investing in Bitcoin in its infancy, I surveyed the market that had developed while I had spent a few years looking elsewhere.

 

I saw Etherium and Ripple (that was its name back then) as the two most likely.

Why, oh why, did I decide to go with the fast cheap fantastic tech of Ripple,  when I could’ve gone with the slow, expensive-trans, shambolic badger dancers?    Sigh.    :) 

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3 hours ago, Troote said:

The results of the SEC investigation. The money transmitter apparently is Moneygram.

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf

Without Ripple, XRP is dead. Pure and simple. The community of developers is way too small and the tribalism/hate towards XRP is way too high, and this is not going to make it any better.

so you sold right?

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3 hours ago, Troote said:

The results of the SEC investigation. The money transmitter apparently is Moneygram.

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf

Without Ripple, XRP is dead. Pure and simple. The community of developers is way too small and the tribalism/hate towards XRP is way too high, and this is not going to make it any better.

Wow. I wish i never read that Investigation paper. In comparison to that the official answer from Ripple is ridiculous. RIP XRP.

 

BTW: i am a holder till the end. No matter of what will come.

Edited by madmellow
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7 minutes ago, Neurotoxin said:

Well that went down the gutter really quickly. This was very unexpected for me. I feel like they dropped a bomb on us lol. Everyone is panicking. Honestly, I might just buy more if it goes lower. 

I truly wish I had some spare funds.  Because I am either the greater fool for wanting to buy something that is soon to be worthless, or I’m looking at one of the great buying opportunities.  I’m thinking it’s the latter.

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