News View Non-AMP

XRP News: Lawyer Exposes SEC’s Crypto Ignorance in Ripple Lawsuit

Published by
Qadir AK

Bill Morgan, a pro-crypto attorney, has strongly criticised the new opening brief submitted in the XRP lawsuit by the United States Securities and Exchange Commission. He has even questioned the regulator’s understanding of how the crypto market works. However, in the last 24 hours, XRP has outperformed almost all the top cryptos, marking an impressive growth of nearly 9.4%.

Let’s dive in for more details. 

SEC’s Allegations: A Huge Misunderstanding?

In the SEC’s opening brief, the regulator claims that Ripple violated securities law through its sales of XRP, alleging that Ripple’s statements to investors created an expectation of profits. Bill Morgan, however, countered this claim in an X post, pointing out that price increases in the crypto market are generally driven by overall market trends, not just the actions of issuers like Ripple.

Whale Activity and Market Impact

Reports suggest that whales have been active recently, moving at least 130 million XRP tokens amid the ongoing legal developments. Whale activity can significantly influence market sentiment, and XRP has not been immune to this.

Over the past hour, the market has dropped by 0.2%, with a larger 1.5% decline observed throughout the day.

XRP’s Bullish Outlook

Despite the volatility and legal uncertainties surrounding the token, market sentiment for XRP remains positive. According to a JP Morgan analyst, there’s a strong possibility that an XRP ETF could be launched soon, which is adding to investor optimism.

In conclusion, XRP continues to be a key player in the crypto market, driven by legal developments and whale movements. As the lawsuit progresses, XRP’s outlook remains strong, with long-term growth potential and increasing interest in an XRP ETF.

Once again, XRP proves that it can thrive even under the pressure of uncertainty!

FAQs

Did Ripple win the lawsuit?

Ripple (XRP) has secured regulatory clarity in the lawsuit driving a positive price action.  

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

XRP Soared 126% After Garlinghouse-Trump Rumors, Will Larsen’s SEC Meeting Do the Same on May 2?

XRP made headlines in November 2024 when rumors spread about a possible meeting between Ripple…

May 2, 2025

Ethereum (ETH) Prepares for Pectra Upgrade as Ruvi AI (RUVI) Is Expected to Reach $1 in 2025

Ethereum has long been a leader in blockchain innovation, and with the upcoming Pectra upgrade,…

May 2, 2025

Bitcoin Price Breaks $97000: What’s Next?

Bitcoin has reached a new high of $97,000, continuing its strong price climb. At the…

May 2, 2025

XRP Price Prediction: 85% Drop to $0.30 Possible, Analyst Warns

XRP is currently trading in the green at $2.22. Market analysts are watching closely, as…

May 2, 2025

Solana Price Analysis and Forecast: Deviation or Market Breakout?

Solana network has recorded a spike in demand from institutional investors amid anticipated approval of…

May 2, 2025

Strategy Releases Q1 Financial Results: Michael Saylor Remains a Bitcoin Maximalist and Raises 2025 Targets

Strategy missed Wall Street expectations by a huge margin during the first quarter. Saylor expects…

May 2, 2025