At first glance, Ripple seems to be a particularly tempting investment after the partial victory in the court hearing and as the most important cryptocurrency for CBDCs. But whether this is really the case and why Ripple could possibly come under further pressure and why an increasing number of investors have now opted for Wall Street memes instead will now be examined in more detail in the following article.
First result of the Ripple negotiation positive for XRP and the crypto market
On July 14, Ripple was able to file one after a year-long legal battle that began in December 2020 achieve a decisive victory against the American Securities and Exchange Commission (SEC).. Because the judge Analisa Torres had decided in favor of Ripple and only classified the sale to institutional investors as an unauthorized sale of securities.
As a result, XRP recorded one in just one day massive price increase of almost 100%. But many other cryptocurrencies previously classified as securities by the SEC, such as Solana, were also able to benefit from this precedent benefit.
In addition, Ripple was at some of the largest crypto exchanges resumed, after the token was previously removed due to concerns about the outcome of the court hearings. Recently, XRP is now available again on Binance US, Coinbase, Kraken, Crypto.com, Gemini and Bitstamp.
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Nevertheless, there could be further ambiguity with Ripple
Meanwhile, however, some legal experts suspect that it there could be a revision in the Ripple negotiation. This is how former SEC employee John Reed Stark, with more than 18 years of experience as a lawyer in the SEC’s Enforcement Division, describes it Judgment in the Ripple case is problematic in many ways.
In addition, he emphasized that the sale to the institutional investors has violated securities law and they can demand a reversal. Likewise, he mentioned that Team Ripple knew the offer was illegal and a fined $720 million.
But also that SEC chief Gary Gensler was disappointed with the decision of Judge Torres. Because she did not classify the sale to private investors as a security. The SEC can now appeal and question the verdict.
However, former prosecutor Karthryn Haun suspects the SEC will not appeal immediately. Because the The American Securities and Exchange Commission would primarily rely on legal ambiguity at the moment.
In her opinion, the SEC is currently even benefiting from the confusion. Because one Defeat would limit their future enforcement actions endanger. But Brad Garlinghouse also assumes that the vocation could come years later.
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Why the SEC is under political pressure
On the other hand, Gary Gensler could also be swayed to a slightly more crypto-friendly stance by increasing political pressure. Because the Republicans are already working on it Removal of the SEC Chairmanbecause he the has drawn the ire of many crypto investors and lawmakers.
Some criticized his confusing and restrictive attitude towards cryptoassetssince he himself inhibits innovation in the USA. Because more and more major crypto projects had stopped considering the United States of America as one of their favorite locations and even considered relocating.
Why cryptocurrencies could become an election campaign topic
But also many presidential candidates are extremely positive about liberal cryptocurrencies. They include anti-CBDC and proponents of decentralized cryptocurrencies, among others Ron DeSantis as well as the environmental advocate and human rights activist Robert F Kennedy Jrwhich is itself invested in Bitcoin and accepts it for campaign donations.
Also donald trump seems to be slowly opening up to cryptoassets and changing its initially negative stance. So he himself two NFT collections and his wife Melania also her own published. The biggest enemy for cryptocurrencies is currently Joe Bidenwhich described them as high-risk and low-value, demanded higher taxes and wanted to reduce their benefits with state alternatives.
Cryptocurrencies could even develop into a crucial political campaign issue, since the younger voters in particular have a crypto-friendly attitude in the US have. Also have 76% of Americans are more concerned about CBDCs than happy about them. Because they are supposed to restrict freedom and private property enormously and represent a great political danger for all liberal people.
A whopping 68% of Americans would oppose them if the government could then monitor their finances, which seems to be one of their main goals. Another 74% are against CBDCs if politicians can then control what they spend their money on.
Exactly these functions could be in the eco-dictatorships that are becoming more and more planned wanted, where everyone is only supposed to eat 10 grams of meat a day and government critics are first muzzled by the media, then possibly punished by the social point system, as in China. However, this then threatens the democratic debate, the insightful criticism and possibly also the civil peace as long as the populations can still defend themselves.
If the SEC now decides to appeal, it could disappoint the future presidential candidate. It is also likely to increase the pressure on Gary Gensler from the Republicans. However, the appointment could possibly come after the US election in 2024.
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Investors are now turning to Wall Street memes instead of Ripple
Many invest in Ripple because it is the most important cryptocurrency for CBDCs and they assume a possible dystopian scenario in which the free and decentralized cryptocurrencies will be replaced by authoritarian alternatives as desired by Biden. Due to the political uncertainty and the possible appeal however, the CBDC cryptocurrency could come under pressure again leading up to the US election.
go at it Investors now increasingly in the as the king of memecoins designated Wall Street memes. He has his Roots in WallStreetBets activist retail investor movementwhich has challenged Wall Street with its coordinated actions and swarm intelligence and has preyed on institutional short sellers.
After first the Wall Street Bulls’ popular NFT collection sold out in just 32 minutes for $2.5 million was, the experienced team has now for the 1 million people large community developed its own community token. Through these could also easily win some of the crypto exchanges memecoin contests.
Here, $WSM represents a parody of inflationary fiat currenciesthat disadvantage the majority in favor of the few. Because something only has value if we believe in it, whether it’s shells, sticks, stones, cotton paper or memecoins.
In addition, should defend themselves against an unjust financial system and create one that puts the general public back in the spotlight and advocates for small investors who are despised as “dumb money”.
It derives its value from its large community, which according to the website’s images and various news outlets Elon Musk and Gary Vee should also belong. This could possibly help the memecoin with Robin Hood ambitions to further rise in price.
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About the author: Simon Feldhusen first came into contact with the stock market 17 years ago and has been dealing intensively with trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following the daily news. Since then, not a day has gone by that he hasn’t engaged with the markets. He publishes for Finanzen.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.