XRP

The Securities and Exchange Commission's case against Ripple over the XRP token will establish a critical precedent.

[group that developed the token](https://xrpl.org/history.html). Under the test, an investment contract (in this context, a security) is defined as “an investment of money, in a common enterprise, with a reasonable expectation of profits, to be derived from the efforts of others.” If the court rules that XRP is a security, it would follow that almost all other crypto tokens are too, making them subject to the SEC’s supervision. In bringing the charges, the SEC has staked a claim to jurisdiction over cryptocurrency. [charged](https://www.sec.gov/news/press-release/2020-338) Ripple, a company based in San Francisco that provides the infrastructure for cross-border payments, and two of its executives with conducting a $1.3 billion unregistered securities offering by selling a cryptocurrency, XRP. After more than two years of protracted legal conflict, all of the evidence has been heard, and there remains nothing left but for Judge Analisa Torres of the Southern District of New York to issue a verdict.

Ripple's prolonged battle with the Securities and Exchange Commission could wrap up soon, and fans of its native crypto XRP are confident Ripple will be ...

Bankruptcy Court for the Southern District of New York (same District as Judge Torres) in the Voyager Bankruptcy.— John E Deaton (@JohnEDeaton1) If Judge Analisa Torres of the Southern District of New York decides in favor of regulators, it could mean that many other cryptocurrencies also are securities. The judge could also send the issue to a jury trial, or narrow the scope of what a trial will consider. The outcome of the case could have major repercussions for the industry. The crux of the excitement comes from speculation that the end is near for a [XRP](https://coinmarketcap.com/currencies/xrp/) are confident Ripple will be victorious—so much so that investors have pushed the price of the token up 21% over the past day, to 45 cents, as it’s gained 19% over the past week.

This week, the cryptocurrency market experienced a bullish trend, with assets such as Bitcoin and Ethereum witnessing a significant price increase. However, ...

Yet, the cryptocurrency faces an important resistance region consisting of the $0.44 level and the prior major swing at $0.4330. Additionally, the price has formed a descending wedge pattern, highlighted by yellow trendlines. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. However, XRP is currently showing signs of strength as it has surpassed a significant resistance level. If XRP successfully surpasses this resistance region, an impulsive rally toward higher price levels will be imminent. However, Ripple was an exception as it continued consolidating without any clear direction.