NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

SEC Takes Blow In Action Against Ripple, Will It Impact XRP Price?

Reynaldo Marquez
Reynaldo Marquez
4 years ago
3 mins read
ripple

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP holders have scored a new victory. A lot has passed since December 2020, when the Securities and Exchange Commission (SEC) filed its case against Ripple Labs. Things started in the regulator’s favor, but with every new development, the situation seems to be changing.

According to a document published by the United States District Court of the Southern District of New York, represented by judge Sarah Netburn, the Commission was denied access to Ripple’s legal memos.

With this motion, the SEC would have ordered the payment company to produce communications in every format on “legal advice” seek or receive on whether XRP sales were subject to federal securities laws.

If granted, the motion would have in conflict with Ripple’s Attorney-Client privilege. The judge concluded that the company did not waive this right. However, the judge gave the SEC room to refile its motion. Per the document:

If, at some later date, Ripple raises its good faith beliefs or relies upon its privileged communications in support of its fair notice defense, the Plaintiff may renew its application to the Court.

Jeremy Hogan, a partner at legal firm Hogan & Hogan, has followed this case closely. The legal expert said the following on judge Netburn’s ruling:

Very important because the Judge states Ripple’s subjective beliefs re XRP are NOT relevant to the Fair Notice defense, blocking the road the SEC wanted to use to fight the Defense.

On the other hand, lawyer John E. Deaton, one of the community leaders of an initiative for XRP investors to gain more relevance in the action, believes the SEC always has little chance of winning this motion.

He believes that there is not much pressure for the regulator to return to negotiating table, but “it’s another public loss for the SEC”.

How The Legal Battle Has Impacted XRP’s Price

With losses in higher timeframes, XRP has positively reacted to recent developments. In the daily and 1-hour charts, the cryptocurrency records a 5.6% and 0.1% profit, respectively. At the time of writing, it trades at $0.89.

Ripple XRP XRPUSDT
XRP with small gains in the daily chart. Source: XRPUSDT Tradingview

The market still seems correlated with Bitcoin’s price performance. The number one cryptocurrency by market cap has seen one of its worst months in the past 5 years. In the daily chart, Bitcoin is close to turning $35,000 from resistance to support.

Ripple XRP XRPUSDT
Source: Luke Martin

If it succeeds, XRP and other altcoins could have a respite from the bears and reclaim some of their lost territories. In the coming weeks, BTC’s price will have a lot of influence on the entire market. Trader Credible Crypto claims that XRP could form a short squeeze and liquidate many short positions on exchange Bitfinex.

I mean. Idk what else to say but this looks ripe for a short squeeze lol. $XRP pic.twitter.com/BZtrBQUt93

— CrediBULL Crypto (@CredibleCrypto) May 28, 2021

The trades remain bullish despite the current price action. He claimed that BTC’s price could have bottomed out and might be on a recovery trajectory. This could positively impact XRP, as mentioned. Credible Crypto said:

I know the structure there at the bottom LOOKS bear flag-y but I also see a completed 5-3-5 (ABC) to the downside which would imply the bottom is in. Would not be surprised to see this ‘bear flag’ break to the upside. BTC.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

ripple koers, kan ripple 10 euro worden

XRP koers klaar voor breakout na einde consolidatie – kan Ripple 10 euro worden?

Nadat de Ripple koers in januari nog een nieuw recordhoogte wist te behalen, heeft het in de periode daarna een...

Lars Diederiksen 1 day ago
XRP Price Action Tightens

XRP Price Action Tightens — Breakout Looms to The Upside

XRP price started a fresh decline below the $2.20 zone. The price is now consolidating losses and might recover if...

Aayush Jindal 1 day ago
XRP

Big Move For XRP: Ripple-Backed ETF Launches In Canada

Canada’s Toronto Stock Exchange today saw a new entrant aimed at making XRP more accessible to investors. The 3iQ Corp....

Christian Encila 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

XRP Price Crash Tests Critical Support At $2.1, Will It Break?

Scott Matherson 7 hours ago
XRP price news

Analyst Warns Of XRP Trap — „You’re Being Played”

Jake Simmons 15 hours ago
XRP

XRP Price In 2026? Pattern From 2017 Reveals How It Will Happen

Scott Matherson 1 day ago

Premium Sponsors

Top Brands

Press Releases

  • 新しい仮想通貨の最新動向|EnteriseCoin・HyperQuantum・BTC Bull Tokenの注目リリース情報

    ...

    2 hours ago
  • ミームコイン注目3選|この夏に急騰が期待される銘柄とは?

    ...

    2 hours ago
  • 仮想通貨プレセール加速中、米利下げ観測で注目集まる次世代レイヤー2プロジェクト

    ...

    3 hours ago
  • 仮想通貨おすすめ|今注目のL2プロジェクト、調達額5,500万ドル突破で上場目前!

    ...

    3 hours ago
  • 仮想通貨1000倍の可能性|Dogecoin・XRP・SolanaのETF承認が近づく中で注目すべき銘柄とは?

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.