Imminent defeat of SEC against Ripple: Whales swim in joy

Wed 31 May 2023 ▪ 3 min of reading ▪ by Mikaia A.

Several analysts are betting on the SEC’s defeat against Ripple after a long and tough legal battle. We just have to wait for Judge Torres’ verdict, which they believe will favor Brad Garlinghouse’s company. As this case approaches its conclusion, crypto investors see positive signs everywhere. The robust performance of XRP and the enthusiasm of whales for this cryptocurrency speak volumes on the matter.

Justice symbol, Ripple vs. SEC

Ripple and XRP: A model of resilience

Judge Torres recently made a favorable decision for Ripple. She has indeed rejected the “SEC’s motion to seal the Hinman documents.

We are not far from the publication of the verdict,” whispered John E. Deaton a few weeks ago.

Verdict or not, Brad Garlinghouse and his team have decided to continue on their path. Details about Ripple’s expansion plans were revealed at the Dubai FinTech Summit.

According to ZyCrypto, XRP is doing well at the moment. If we compare its performance to Bitcoin and Ethereum during the month of May, this token would have benefited from the recent development efforts by the Ripple team.

Last Saturday, analyst Ali Martinez revealed that whales have continued to buy XRP. In just 3 weeks, they accumulated more than 52 million tokens, which is approximately 23 million dollars.

Imminent bull run for XRP – Source: Twitter

Whales appear bullish on #Ripple! They purchased over 52 million $XRP in the past three weeks, worth around $22.9 million.

A new verdict date prediction

Apart from pro-crypto advocate John Deaton, pro-Ripple lawyer Jeremy Hogan has also ventured to give a date for the pronouncement of the verdict in the Ripple vs SEC case. According to him:

The Judge in the Ripple case has been making major rulings about every 9 weeks (Sept. 29, Dec.19, March 6, May 16). And the only major ruling left is on Summary Judgment. That comes out to mid-July. NOT a prediction. JUST a pattern.

As for the future of XRP, some analysts have predicted its strengthening in the coming weeks. For instance, Dark Defender supported that this token developed by Ripple would reach $0.50 per coin in the next few days. And by August, XRP could be traded at $1.3.

News like this delights XRP investors. If this bullish rally occurs alongside a court decision that undermines the SEC, the victory will have reverberations throughout the crypto universe.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.