{"id":548441,"date":"2023-08-22T21:00:23","date_gmt":"2023-08-22T21:00:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=548441"},"modified":"2024-06-11T07:45:43","modified_gmt":"2024-06-11T07:45:43","slug":"by-the-numbers-deciphering-xrp-lost-momentum","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/by-the-numbers-deciphering-xrp-lost-momentum\/","title":{"rendered":"By The Numbers: Deciphering XRP’s Lost Momentum Amid The SEC Lawsuit"},"content":{"rendered":"

The US Securities and Exchange Commission’s (SEC) legal tussle with Ripple over the XRP token may have significantly set its trajectory back in the US market. <\/span>Crypto lawyer John Deaton explained<\/a> this in an X (formerly known as Twiter) post uploaded earlier today, shedding light on the ramifications of the SEC’s lawsuit on XRP’s potential adoption<\/a> in the US. <\/span><\/p>\n

\n

You could NEVER underestimate the damage the SEC\u2019s lawsuit has caused – NOT ONLY AGAINST RIPPLE – BUT #XRP<\/a>. THREE YEARS OF ADOPTION – that\u2019s what it\u2019s caused.<\/p>\n

Just how long is 3 yrs – in crypto years?<\/p>\n

People seem to forget how much Coinbase promoted #XRP<\/a> before the lawsuit.\u2026 https:\/\/t.co\/1fZ3r8WCSd<\/a> pic.twitter.com\/GLu4kFUU38<\/a><\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) August 22, 2023<\/a><\/p><\/blockquote>\n

The comments come when discussions about regulatory clarity in crypto are more intense than ever, with token holders striving for clearer guidelines<\/a> in the North American country.<\/span><\/p>\n

Related Reading: XRP About-Face Sparks Another Descent \u2013 What Lies Ahead?<\/a><\/div>\n

The Coinbase Connection<\/span><\/h2>\n

According to Deaton, Coinbase, one of the pioneering cryptocurrency exchanges in the US, was at the forefront of promoting XRP before regulatory challenges arose. Deaton pointed out that before listing XRP, Coinbase proactively reached out to the SEC for clarity.<\/span><\/p>\n

In a meeting held in January 2019, Coinbase presented its regulatory framework for evaluating digital assets \u2013 a framework that had previously garnered admiration from senior SEC staff. With no objections raised by the SEC, Coinbase proceeded to list XRP the following month.<\/span><\/p>\n

\n

In fact, in January 2019 Coinbase asked for and got a meeting with the @SECGov<\/a> to SPECIFICALLY DISCUSS THE REGULATORY STATUS OF #XRP<\/a>!<\/p>\n

Coinbase explained to the SEC that Coinbase had evaluated #XRP<\/a> and ran it through Coinbase\u2019s stringent regulatory framework for digital assets.<\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) August 22, 2023<\/a><\/p><\/blockquote>\n

Furthermore, the fact wasn’t just restricted to Coinbase. Payment processing giant MoneyGram, which had established a partnership with Ripple for remittances, disclosed<\/a> its intentions to integrate with the XRP\u00a0 Ledger through a formal filing with the SEC. <\/span><\/p>\n

Much like the Coinbase instance, MoneyGram didn\u2019t receive any complaint from the regulatory body either, but the ensuing legal battle halted the company’s plans.\u00a0<\/span><\/p>\n

The Controversial Lawsuit And Its Implications For XRP<\/span><\/h2>\n

Contrary to these initial interactions, the SEC filed a lawsuit<\/a> against Ripple in December 2020. Deaton emphasized that several industry stakeholders<\/a>, including the lawyers at MoneyGram and Coinbase, assessed XRP and determined it was not a security. Yet, the SEC’s lawsuit against Ripple painted a contrasting narrative.<\/span><\/p>\n

\n

Amazingly, despite all the above (and so much more), on December 22, 2020, less than 2 years AFTER Coinbase met with the SEC about #XRP<\/a>, and 18 months AFTER MoneyGram disclosed to the SEC it was utilizing #XRP<\/a>, and despite lawyers at the SEC not concluding #XRP<\/a> was a security in\u2026<\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) August 22, 2023<\/a><\/p><\/blockquote>\n

The following legal battle created was felt across the crypto industry. It raised questions about the regulatory landscape and brought forth discussions about the nature of cryptocurrencies<\/a> and how they are classified in the US.\u00a0<\/span><\/p>\n

While Ripple has seen commendable success outside the US, Deaton underscored that the lawsuit undeniably hindered XRP’s adoption within the country.<\/span><\/p>\n

Related Reading: XRP Price Shows Confluence Of Bearish Factors and Could Decline Again<\/a><\/div>\n

From Deaton’s perspective, the evidence gathered over the past three years suggested that the lawsuit may have been part of a strategy. While it remains speculative to conclude the exact motivations behind the SEC’s actions<\/a>, the impact on XRP’s US adoption and the broader crypto market has been palpable.<\/span><\/p>\n

Deaton concluded:<\/p>\n

It is so clear the lawsuit was used as a weapon. I said it only 9 days after the Ripple lawsuit in a federal pleading, when I filed the Writ of Mandamus against the SEC, and all the evidence uncovered during the last 3 years proves it to be true.<\/p><\/blockquote>\n

\"XRP
XRP price is moving sideways on the 4-hour chart. Source: XRP\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission’s (SEC) legal tussle with Ripple over the XRP token may have significantly set its trajectory back in the US market. Crypto lawyer John Deaton explained this in an X (formerly known as Twiter) post uploaded earlier today, shedding light on the ramifications of the SEC’s lawsuit on XRP’s potential adoption in the US. You could NEVER underestimate the damage the SEC\u2019s lawsuit has caused – NOT ONLY AGAINST RIPPLE – BUT #XRP. THREE YEARS OF ADOPTION – that\u2019s what it\u2019s caused. Just how long is 3 yrs – in crypto years? People seem to forget how much Coinbase promoted #XRP before the lawsuit.\u2026 https:\/\/t.co\/1fZ3r8WCSd pic.twitter.com\/GLu4kFUU38 \u2014 John E Deaton (@JohnEDeaton1) August 22, 2023 The comments come when discussions about regulatory clarity in crypto are more intense than ever, with token holders striving for clearer guidelines in the North American country. Related Reading: XRP About-Face Sparks Another Descent \u2013 What Lies Ahead? The Coinbase Connection According to Deaton, Coinbase, one of the pioneering cryptocurrency exchanges in the US, was at the forefront of promoting XRP before regulatory challenges arose. Deaton pointed out that before listing XRP, Coinbase proactively reached out to the SEC for clarity. In a meeting held in January 2019, Coinbase presented its regulatory framework for evaluating digital assets \u2013 a framework that had previously garnered admiration from senior SEC staff. With no objections raised by the SEC, Coinbase proceeded to list XRP the following month. In fact, in January 2019 Coinbase asked for and got a meeting with the @SECGov to SPECIFICALLY DISCUSS THE REGULATORY STATUS OF #XRP! Coinbase explained to the SEC that Coinbase had evaluated #XRP and ran it through Coinbase\u2019s stringent regulatory framework for digital assets. \u2014 John E Deaton (@JohnEDeaton1) August 22, 2023 Furthermore, the fact wasn’t just restricted to Coinbase. Payment processing giant MoneyGram, which had established a partnership with Ripple for remittances, disclosed its intentions to integrate with the XRP\u00a0 Ledger through a formal filing with the SEC. Much like the Coinbase instance, MoneyGram didn\u2019t receive any complaint from the regulatory body either, but the ensuing legal battle halted the company’s plans.\u00a0 The Controversial Lawsuit And Its Implications For XRP Contrary to these initial interactions, the SEC filed a lawsuit against Ripple in December 2020. Deaton emphasized that several industry stakeholders, including the lawyers at MoneyGram and Coinbase, assessed XRP and determined it was not a security. Yet, the SEC’s lawsuit against Ripple painted a contrasting narrative. Amazingly, despite all the above (and so much more), on December 22, 2020, less than 2 years AFTER Coinbase met with the SEC about #XRP, and 18 months AFTER MoneyGram disclosed to the SEC it was utilizing #XRP, and despite lawyers at the SEC not concluding #XRP was a security in\u2026 \u2014 John E Deaton (@JohnEDeaton1) August 22, 2023 The following legal battle created was felt across the crypto industry. It raised questions about the regulatory landscape and brought forth discussions about the nature of cryptocurrencies and how they are classified in the US.\u00a0 While Ripple has seen commendable success outside the US, Deaton underscored that the lawsuit undeniably hindered XRP’s adoption within the country. Related Reading: XRP Price Shows Confluence Of Bearish Factors and Could Decline Again From Deaton’s perspective, the evidence gathered over the past three years suggested that the lawsuit may have been part of a strategy. While it remains speculative to conclude the exact motivations behind the SEC’s actions, the impact on XRP’s US adoption and the broader crypto market has been palpable. Deaton concluded: It is so clear the lawsuit was used as a weapon. I said it only 9 days after the Ripple lawsuit in a federal pleading, when I filed the Writ of Mandamus against the SEC, and all the evidence uncovered during the last 3 years proves it to be true. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":524613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[134,1393,6664,3680,4531,78763],"class_list":["post-548441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-altcoin","tag-coinbase","tag-crypto","tag-ripple","tag-xrp","tag-xrpusdt"],"acf":[],"yoast_head":"\nBy The Numbers: Deciphering XRP Lost Momentum Amid The SEC Lawsuit<\/title>\n<meta name=\"description\" content=\"The crypto community has been abuzz with discussions surrounding the US SEC legal tussle with Ripple over its XRP token.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"By The Numbers: Deciphering XRP’s Lost Momentum Amid The SEC Lawsuit","url":"http:\/\/ktsl888.com\/news\/ripple\/by-the-numbers-deciphering-xrp-lost-momentum\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ripple\/by-the-numbers-deciphering-xrp-lost-momentum\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/XRP-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/XRP-2.jpeg?fit=1140%2C815"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","coinbase","crypto","ripple","xrp","xrpusdt"],"dateCreated":"2023-08-22T21:00:23Z","datePublished":"2023-08-22T21:00:23Z","dateModified":"2024-06-11T07:45:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"By The Numbers: Deciphering XRP’s Lost Momentum Amid The SEC Lawsuit\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/by-the-numbers-deciphering-xrp-lost-momentum\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/by-the-numbers-deciphering-xrp-lost-momentum\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/XRP-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/XRP-2.jpeg?fit=1140%2C815\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"coinbase\",\"crypto\",\"ripple\",\"xrp\",\"xrpusdt\"],\"dateCreated\":\"2023-08-22T21:00:23Z\",\"datePublished\":\"2023-08-22T21:00:23Z\",\"dateModified\":\"2024-06-11T07:45:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/XRP-2.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/548441"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=548441"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/548441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/524613"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=548441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=548441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=548441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}