SBI CEO: Ripple will be made public after a lawsuit in the SEC!

SBI CEO: Ripple will be made public after a lawsuit in the SEC!

Yoshitaka Kitao, CEO of SBI Finance Group in Japan, said in a call for revenue that Ripple would be made public, adding that Chris Larsen, one of the founders, wants the company to move in that direction. Slow:

Following the current petition, Ripple will be made public. Chris wants to do that.

Ripple CEO Brad Garlinghaus claimed that his company could lead the IPO in Davos in January 2020.

In the next 12 months, you will see an IPO in the crypto / blockchain space. We will not be the first and we will not be the last, but I expect to be on the leading side. This is a natural evolution for our company. ”

But these plans seem to have been abandoned. While shares of the Coinbase cryptocurrency exchange continue to be traded on the Nasdaq, Ripple is currently embroiled in an unpleasant legal battle with the SEC.

SBI Group, Ripple's largest foreign shareholder, has long been a strong supporter of XRP, which has been touted as an cryptographic asset in Japan. Shareholders can receive dividends for the second year in a row, as reported by U.Today.

In December, Kitao said that Ripple's legal problems in the United States would not have a major impact on its global trade.

Exploratory wars

Ripple, meanwhile, insists the SEC must provide its internal communications in a letter to Judge Sarah Netburn.

The issue will be discussed at another conference call on April 30.

Ripple proved that the SEC did not warn them about the "securities" of the XRP currency

Ripple proved that the SEC did not warn them about the "securities" of the XRP currency

During a pre-trial conference between Ripple and the Securities and Exchange Commission (SEC), Matthew Solomon, who represented Ripple CEO Brad Garlinghouse, claimed that in the countless discussions that took place during the year In 2019, the SEC did not inform exchanges about the status of XRP "securities".

We have found findings that show that in 2019, the SEC had complex discussions with key market players such as exchange offices and apparently did not inform them at the time that the currency XRP is considered as a securities or investment contract. "Once again, as the case progresses, it becomes clear that the XRP currency cannot and will not be considered a security."

Ripple executives want to end the complaint!

Garlinghouse also filed a petition at the previous conference to close the lawsuit.

His lawyer at the conference denied Garlinghouse's involvement in Ripple's sales program. This charge is one of the main parts of the SEC complaint. The lawyer insists that his client did not know that XRP currency could be considered an investment contract.

Another former Ripple CEO, Chris Larsen, is represented by Paul Weiss’s Martin Flumenbaum. He also claimed that his client also requested that the case be closed.

SEC ready to attack Ripple!

Jorge Gerardo Tenreiro, Jon Daniels and several others represent the SEC. They insist that Ripple offered and sold the XRP currency as an investment contract.

The legislature warned federal judge Analisa Torres that it was likely to respond to Ripple's defenses.

In response, Ripple's lawyer, Andrew J. Ceresney, accused the company of trying to prevent the truth from being discovered.

The former head of the SEC described the lawsuit against Ripple as a "wrong death"

The former head of the SEC described the lawsuit against Ripple as a "wrong death"!

Former SEC Chairman Mary Jo White, in support of Ripple against the regulator, described the SEC's conduct as a "wrong death." The SEC filed a formal complaint against Ripple Labs and two of its directors in late December. The lawsuit alleges that Ripple Laboratories sold unregistered securities, prompting most US exchange offices to announce that they would remove XRP from their platform. White stated:

"As a former U.S. attorney and president of the SEC, you know that if a case takes a long time to process, you probably should not raise it."

The SEC petition divided the cryptographic community into two categories, with a significant number opposing the petition and a significant number even agreeing. In addition to White, another SEC member, Hester Pierce, expressed similar concerns about the lack of transparency in cryptocurrency regulations and the SEC petition.

Ripple is looking for an ascending defeat!

The SEC lawsuit against Ripple had a devastating effect on the price of XRP after it was removed from several exchanges, causing it to lose most of its profits during the year and fall to a three-year low. However, while everyone believed the lawsuit would eliminate XRP trading in the United States, the altcoin recovered to $ 0.56.
By the time the bull flag pattern on the 4-hour chart is confirmed, Ripple is preparing for a defeat. Keeping the price above $ 0.5 is still the key to uptrend.

The Altcoin seems to have made up for most of its losses following the SEC petition and is now embarking on another pre-litigation move.

Ripple Analysis (XRP) Wednesday, February 17

Ripple Analysis (XRP)

The price of Ripple Digital Currency is currently fluctuating in the range of $ 0.53302. The MACD and RSI indicators have also shown a downward trend.
However, the price continued its uptrend yesterday from the support range of $ 0.4880 to $ 0.4840. This level is the intersection of the 100 moving average indicator in the four-hour time frame and the downtrend line formed since February 2 (February 4) until now.
Currently, the 50-day moving average indicator level at $ 0.5460 and the Sunday bearish trend line at $ 0.56 play the resistance levels.
If the resistance breaks $ 0.56, the price will rise to the monthly downward trend line at $ 0.06150.
On the other hand, if the price penetrates below the support level of $ 0.4880 to $ 0.4840, one can expect the price to fall to $ 0.4 and the lowest monthly level at $ 0.3405.

Technical levels
Last price of the day: $ 0.5122
Daily fluctuations: 77- Pip
Fluctuations of the day (٪): 1.48-
Starting price: $ 0.5199
Trends
20-day moving average: $ 0.4632
50-day moving average: $ 0.3473
100-day moving average: $ 0.406
200-day moving average: $ 0.333
Levels
Yesterday's highest price: $ 0.58.03
Yesterday's lowest price: $ 0.4819
Last week's highest price: $ 0.6247
Last week's lowest price: $ 0.3911
Last month's highest price: $ 0.5167
Last month's lowest price: $ 0.2109
Fibonacci 38.2. Daily: $ 0.5195
Fibonacci 61.8. Daily: $ 0.5427
Pivot S1 Daily: $ 0.4745
Pivot S2 Daily: $ 0.429
Pivot S3 Daily: $ 0.3761
Pivot R1 Daily: $ 0.5728
Pivot R2 daily: $ 0.6258
Pivot R3 Daily: $ 0.6712

 

Hamid Rahathagh