Charting the course of XRP

[xrp-nuke]

Now everyone start realise what shit SEC brought, at first it looks all goid for XRP haters, everyone happy that it got low blow punch, it will get delisted and blah blah blah.

On other hand, looks like goverment got a trigger on how to kill any digital asset, its a huge precendence if we move emotuons away. Basically SEC find any reason against any company that has number of assets.

[BroHamBone]

1 hour ago, Baka said:

The delisting is already talked about on a exchanges like Coinbase and it may arrive rapidly 

 

Do you have a linked article from Coinbase making this statement? I would consider that being Coinbase talking about delisting.  Otherwise its commentators suggesting exchanges should/could/would delist.

[rycerocket]

I am actually surprised at how much of an impact this threat from the SEC carries. Especially when xrp can continue around the world in any case. I really hope this doesn't drag out for a long time. I believe we are invested in the most significant item that I have come across in the past 5 years at least. I really trust that the underlying tech and intelligence of ripple / xrp will prevail and we will all look back on this and hopefully laugh.

[JJJ2]

50 minutes ago, rycerocket said:

I am actually surprised at how much of an impact this threat from the SEC carries. Especially when xrp can continue around the world in any case. I really hope this doesn't drag out for a long time. I believe we are invested in the most significant item that I have come across in the past 5 years at least. I really trust that the underlying tech and intelligence of ripple / xrp will prevail and we will all look back on this and hopefully laugh.

and hopefully we will have bought the deep.

[JJJ2]

I've just read in another thread that the new SEC chef has been appointed.

[xrp_sea]

It's looking like XRP is finding support here in the mid 20s. To put this in perspective, this is exactly where we were just 5 weeks ago. I'm expecting a short squeeze in the near future if this holds up. 

[WCH]

Just now, xrp_sea said:

It's looking like XRP is finding support here in the mid 20s. To put this in perspective, this is exactly where we were just 5 weeks ago. I'm expecting a short squeeze in the near future if this holds up. 

Looks like another leg down coming if you ask me. Not enough buyers coming in to push it up.

[7Sol]

1 hour ago, rycerocket said:

I am actually surprised at how much of an impact this threat from the SEC carries.

It is a legal complaint containing proofs, as in emails from the main defendant.

Quote

57. On May 26, 2014, Larsen explained in an email to an individual formerly associated with Ripple that the international law firm that wrote the Legal Memos advised “that investors and employees could not receive XRP” because that “could risk SEC designation [as] a security.”Larsen also explained that the XRP he received upon Ripple’s founding was “comp[ensation] for . . . personally assuming th[e] risk” of being deemed the issuers of securities—namely, XRP.

meaning, I know I am issuing a security and I am compensated for assuming that risk.
 

Quote

58. In other words, as Larsen himself explained, he was paid at the outset in an asset (potentially worth hundreds of millions of dollars) to assume a risk he knew existed—that the sale of the asset could constitute an offering of securities for which he would be held responsible.

I am getting XRP in exchange for taking the heat.
 

Quote

59. Despite this knowledge and Larsen’s familiarity with Section 5 from the SEC enforcement action that his previous company had settled in 2008 while Larsen was its CEO, Ripple and Larsen failed to heed some of the legal advice and warnings in the Legal Memos.

Done it before.

Therefore the SEC alleges defendant knowingly engaged in the security offering.

 

Edited December 24, 2020 by 7Sol

[2ndtimearound]

1 hour ago, xrp-nuke said:

Now everyone start realise what shit SEC brought, at first it looks all goid for XRP haters, everyone happy that it got low blow punch, it will get delisted and blah blah blah.

On other hand, looks like goverment got a trigger on how to kill any digital asset, its a huge precendence if we move emotuons away. Basically SEC find any reason against any company that has number of assets.

This is it.  My feelings are the SEC are going to be quiet for the months ahead.  They are an arm of the government.  They absolutely want to control the cryptospace.  I hope I am wrong and the new chair will be warm to crypto and even dismiss the Ripple case (wishful thinking, but I hope) and we can live in a normal market of open price discovery and XRP can survive/fail based on its own merits.

Away from that fantasy, the SEC can remain irrational longer than you can remain sane/composed in this market.  This court case might take 18 to 24 months or longer to resolve.  That's 18 to 24 months of zero institutional investment in XRP in that time while BTC and ETH consolidate as institutional "safe" tokens to buy.  XRP's price is going to slowly bleed away...save some out-of-the-blue news of an out-of-court settlement...which is still at least 2 weeks away (after Christmas/New Year) - where is the price going in the meantime? I hate to be the bear but we have to be realistic. 

Edited December 24, 2020 by 2ndtimearound

[7Sol]

15 minutes ago, 2ndtimearound said:

They are an arm of the government.  They absolutely want to control the cryptospace.

Do you mean the US government?

Binance left China and they became the largest exchange.

One reason for the filing before Christmas may have been to make sure a judge would have to look at it and prevent anyone pulling the case under a rug.
 

Quote

85. From 2015 through at least March 2020, while Larsen was an affiliate of Ripple as its CEO and later chairman of the Board, Larsen and his wife sold over 1.7 billion XRP to public investors in the market. Larsen and his wife netted at least $450 million USD from those sales.

The CEO sold $450 million USD worth of its own XRP.

[NightJanitor]

38 minutes ago, 7Sol said:

Therefore the SEC alleges defendant knowingly engaged in the security offering.

What they don't mention - maybe because they don't know - is that out of the 2008 settlement came the entirety of "fintech" as the US has known that term, since.  We're talking literally billions upon billions of value created and hundreds of US companies, many of which have gone on to huge IPO's and are traded on our US markets, today...

They probably also don't know that Larsen was instrumental in finally getting consumers access to their own personal credit reports and personal credit scores in the 90's.

Pointless regulation standing in the way of inevitable innovation is bad for America.

[7Sol]

2 minutes ago, NightJanitor said:

out of the 2008 settlement came the entirety of "fintech"

Can you please detail the contribution of that settlement in fostering the "entire fintech" industry?

[NightJanitor]

2 minutes ago, 7Sol said:

Can you please detail the contribution of that settlement in fostering the "entire fintech" industry?

I wouldn't know where to begin.  Have you ever checked your credit history without sending letters to Equifax, Transunion, and Experian and waiting 3 months?

That's probably close to the beginning - out of that little innovative use of the newfangled "internets" sprang up more companies than I can even think of atm...

[7Sol]

13 minutes ago, NightJanitor said:

out of that little innovative use of the newfangled "internets"

Which innovative use of the Internet did Christian Larsen make that paved the way for fintech?

Defendant is called on unregistered securities offering.

What is the link between those two points?

Edited December 24, 2020 by 7Sol

[doz]

Too  much risk at this point IMO.  I don't think it should be delisted unless it's proven in court that it is a security.  That said, it doesn't mean the big boys won't delist it.  If CB drops XRP, that will be big and there will be a large sell-off again.

 

Too risky.  I am not saying I won't get back in and take a chance, but for now, I'll stay away.  I think there will be a lot of swings and money to be made but at anytime, CB can delist and it will plunge immediately.