The latest development in the XRP lawsuit saw Ripple file an appeal again, for the sealing of certain Exhibits. This time around the defendants has filed a letter motion to seal limited excerpts that also include two exhibits from the Interrogatories Dispute, that the SEC filed under seal in support of its September 8, 2021, letter.
Ripple argued against the Judicial status of the Exhibits in question. The defense asserted that the requested Exhibits are “discovery materials filed with the court in connection with discovery-related disputes.” Therefore, these exhibits have acquired the “Confidential” designation according to “the Protective Order” which in turn proves that these are not judicial documents and henceforth, are not entitled to a presumption of public access.
Ripple argues that Exhibits are ‘irrelevant’
Ripple highlighted the irrelevance of these Exhibits. The defendants argued that the sealing of these documents will not impact the SEC’s responses in the Interrogatories Dispute, as the SEC has not referenced the specific information that Ripple is seeking to seal but has only referenced the whole of these Exhibits.
Additionally, Ripple also argued against the issue of public interest, claiming that there lies no presumptive public access, and even if it was allowed, the interest would be “minimal”. Along with this, Ripple highlights the ‘Lugosch v. Pyramid Co. of Onondaga’ verdict that emphasizes that such information is irrelevant to the “performance of the judicial function” or useful in the judicial process, and courts routinely recognize it as “properly sealable”.
“Neither of these documents is relevant, much less material, to the merits of the SEC’s letter response, which concerns the SEC’s responses to Defendants’ Interrogatories. Accordingly, there is no presumptive public access to these documents and, even if there were, the public’s interest in them would be minimal…It is irrelevant to the SEC’s Letter. Indeed, to the extent the SEC even references these exhibits, the SEC does not reference the information Ripple seeks to seal”
Ripple mentions “competitively sensitive business information”
Ripple presents the concern of “competitively sensitive information” available in the mentioned Exhibits. Ripple claims that it is essential to maintain confidentiality as third-party legal business information, along with the plaintiff’s record of lacking digital assets guidance will be highlighted if the data is made available for public presumptions.
“There is also a strong interest in maintaining the confidentiality of the narrowly tailored excerpts that Ripple Proposes to seal. These excerpts contain competitively sensitive business information regarding Ripple’s contracts and work orders with third-party customers, as well as non-public memoranda concerning the SEC’s lack of digital asset guidance.”
Warren Buffet Massive Backing Into RippleNet Bank
- Warren Buffett’s entire argument is in favor of Bitcoin.
- Brazilian digital bank gets a 500M investment from Buffett investment fund.
Warren Buffett knows about the things that are going on behind the scenes of digital assets. Furthermore, his entire argument in favor of Bitcoin is that he needs to protect his gold investments. But all it boils down to people like Warren Buffett is the money which he is going to invest.
In addition, $60,000 is still holding up strong for Bitcoin. Notably, the BTC dominance has dropped just a little bit at 44.45%. More so, 60,000 is a huge key resistance area for BTC as it will accelerate up to over $74,000 which is the next stop. The main aim for bitcoin is to trade between $80,000 to $100,000.
Youtuber adds, yet to see a major rotation into we have yet to see XRP pop. This comes usually when XRP starts flying which indicates that we are getting close to the end. However, this time I believe it’s going to be a little different because we do have that massive multiplier effect coming into play towards the end of the cycle.
When the lawsuit was a ripple and the sec wraps up we have never had this before. In addition, we have the exchanges relisting a lot of money waiting on the sideline wall streets just sitting there waiting. This is because they can finally invest in an asset that is going to have regulatory clarity which is key folks.
Everyone can keep their eyes on Bitcoin at 60K if they do drop down we’re going to drop into the 50s. It is not possible to see Bitcoin going any lower. Notably, XRP had a silent week with a very low volume. More so, the triangle is getting narrower each and every day which is a good thing.
Because users know what happens when it gets to that triangle. It is either going to go up or it is going to go down and the market sentiment right now is pointing to us going up.
Even more, as at the beginning of November, we’re looking for an XRP breakout. Added to this, it is not possible to get a five to seven trillion-dollar market cap Bitcoin. More so, Ethereum is going to take three trillion of that market cap which has two trillion dollars left. XRP is going to be a legally cleared currency — the first one of its kind.
In addition, XRP has utility behind it which is going to start ramping up the use and volume price plus demand is going to bring the price to a trillion market cap. Moreover, those who keep their XRP on Binance.us hope to get the airdrop for a songbird. Unfortunately, Binance.us will not support this airdrop.
New Bank and Ripple Net Partnership
The new bank is a Latin American NEO bank and the largest financial technology bank in Latin America. Moreover, the company has engineering offices in Berlin, Germany, Argentina, and an office in Mexico City.
June of this year Warren Buffett’s Bert Warren Buffett’s Berkshire Hathaway has invested 500 million into Brazilian challenging new bank. Therefore, the Brazilian digital bank new bank has announced today that it has received a 500 million investment from Warren Buffett investment fund Berkshire Hathaway.
Moreover, Berkshire Hathaway invested in an extension of the fintech’s 400 million series g round announced in January. In addition, Buffett’s company also had a stone code a Brazil-based digital firm among its tech investments in the region. This is because users got Warren Buffett dumping 500 million into the new bank which is absolute insanity.
The New bank is a Ripple net member. Specifically, the new bank and Ripple net partnership pretty much came out right around the same time that Warren Buffett was sending funding money to them. What do you think could possibly be going on and then it gets more interesting here.
Ripple Works Through Ripple x NFTs
South Korean exchange Coinone, a Ripple partner, used to run a remittance app called cross and had 22 percent of its shares. This is the second-longest position acquired by game evil, a game developer with the intent to develop blockchain-based products NFTs in games.
More so, the game evil is located in Seoul and la and they largely focus on mobile games. In addition, this is absolutely tremendous so why are they buying up coin ones shares the second largest position of coin one shares to get into mobile gaming and NFTs.
Ripple now works through Ripple x NFTs they’re into mobile gaming as well as cross-end partner with Ripple to launch South Korea’s blockchain first blockchain-based real-time global payment system. This is a huge listen these NFTs mobile games that are coming to the Ripple ledger to the XRP are going to be a game-changer.
South Korea and Japan are going to lead the way for adoption you have already seen be put together a gaming team which the people who are on their gaming. Squad and gaming are huge if you don’t think gaming is a huge thing it is one of the biggest.
It’s one of the biggest job opportunities out there for young kids they are getting developing and creating a brand new craft that is taking off all around the world. Users probably don’t hear much about it if they were not into gaming.
But if you’re into gaming just the slightest bit you would be shocked with all the different tournaments, teams, groups, and competitions that they have going on so bringing blockchain into gaming and getting NFTs into games is going to be a game-changer.
XRP Price Looks Solid, Will There be a Significant Upward Surge?
BTC and ETH both reversed direction as they looked for fundamental support, implying that bears are trying to catch over-leveraged bulls. Despite Ripple’s legal battle with US securities regulators, XRP is looking solid. XRP is likely to convert a historic level of resistance into support, paving the stage for a significant surge.
XRP Price Action
On Friday, Ripple’s XRP fell 0.03 percent. Ripple’s XRP concluded the day at $1.08883 after falling 5.04 percent on Thursday. After a rocky start to the day, Ripple’s XRP plummeted to an intraday low of $1.08 in the early afternoon before making a move.
Ripple’s XRP soared to a mid-afternoon intraday high of $1.12, breaking above the 38.2 percent FIB of $1.0659 and the first major support level at $1.0609. Ripple’s XRP dropped to $1.07 levels after failing to break through the first significant resistance level at $1.1400. Ripple’s XRP briefly rose to $1.09 levels late in the day before plunging back into the negative. At the time of writing XRP is trading in red at $1.09.
Ripple vs SEC !! What’s Lies Ahead?
Ripple responded to the SEC’s letter with an explanation for its privilege allegations as well as a redacted version of the three additional documents requested by the defendants for in-camera review in the XRP litigation. Ripple has asked the court to make these records available to the defence, and he has continued to argue against the plaintiff’s “privileged” position.
Once Ripple settles their case, you’ll see now only $XRP take off, but the market as well.
That’s because we’ll finally have some sort of clarity that will be available.
NFA— David Gokhshtein (@davidgokhshtein) October 22, 2021
David Gokhshtein is the founder of the Pac Protocol network and a crypto influencer who often tweets about the crypto world. In the most recent, he discussed the Ripple vs SEC case and how the resolution of the legal struggle between Ripple and the SEC will benefit XRP.
David cited a previous interview with Ripple CEO Brad Garlinghouse, in which he stated that the business will resolve the issue with the US Securities and Exchange Commission (SEC) if the asset class of the Ripple token is clarified.
According to David, if the SEC clarifies whether Ripple’s asset class is a security or not, it will also clarify the status of other crypto assets. And the SEC’s clarity will function as a stimulus for the XRP and cryptocurrency markets to take off.
XRP Forecast October 25 — 29, 2021
XRP/USD end the trading week at 1.0983 and continue to move within a minor correction and a bullish channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers and a potential continuation of the cryptocurrency growth from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.9095. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 1.8005.
Cryptocurrency XRP Forecast October 25 — 29, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week October 25 — 29, 2021 will be a test of the support line on the relative strength index (RSI), now a ”Triangle” pattern is being formed on the RSI, a breakdown of which will indicate a strong rise in the coin. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.6505 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below the level of 0.5005. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the 1.3655 area.
Cryptocurrency XRP Forecast October 25 — 29, 2021 suggests an attempt to test the support level near the 0.9095 area. Where can we expect the continued growth of quotations with a potential target at the level of 1.8005. An additional signal in favor of a rise in XRP value will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the breakdown of the 0.6505 area. This will indicate a continued decline with a target below 0.5005.