A battle till the end? It’s all about confrontation between Ripple and the SEC. Bitcoin and its possible correction
Analytics make predictions concerning trial SEC against Ripple
The regulator believes that the XRP company should be responsible for the unregistered issue of securities in the guise of tokens that the project has been selling for 7 years. To remind you, Ripple has raised about $1.3 billion.
According to Adam Cochran, a partner of Cinneamhain Ventures, the trial court will take years, though Ripple Company does not have many chances, like EOS or kin do.
While seeking the arguments Cochran says that Ripple is completely falling under the jurisdiction of the SEC. The defendants are Ripple CEO Brad Garlinghouse and his companion Chris Larsen. Nonetheless, XRP assets are still trading on global markets. To remind you, the SEC recognized tokens as unregistered securities.
Andrew Tugarin, leading partner of GMT Legal, has no doubt that the proceedings will most likely not be in favor of Ripple.
«It seems that a large fine will be imposed on the project itself and its founders personally» — analytic said.
An outside opinion: it is high time for market correction
The total share of TOP-1 BTC on the crypto market for the first time this year has reached 69.3%. Mikhail Karkhalev, the analyst of the crypto platform Currency.com believes that the key driver of BTC’s market share growth was a decrease in Ripple’s capitalization and its future trial.
Over the past 7 days the token price has decreased by 54%. The fall comes amid SEC accusations against Ripple and the refusal of several companies to work with XRP at once.
«In my opinion, there are no prerequisites for a decrease in the market share of BTC. The main cryptocurrency, in contrast to the same Ethereum (ETH), is held near the price maximum, while Ethereum has lost positions. The market is ready for a slight correction to $ 21–20 thousand for BTC. The price may reach these levels in the first half of January, after which it will move back to growth in search of new highs.