Welcome to Extreme Investor Network! Today, we will be diving into the latest developments in the Stock Market, trading, and Wall Street. Let’s start by discussing the current state of affairs regarding XRP and the SEC.
Recently, investors have been closely monitoring the legal battle between Ripple and the SEC. In July 2023, Judge Analisa Torres made a ruling stating that programmatic sales of XRP do not pass the Howey Test. This decision has raised a lot of questions among investors and has led to speculation about the future of XRP.
In the following month, the SEC tried to appeal the ruling by filing a Motion for Interlocutory Appeal. However, Judge Analisa Torres denied the motion, forcing the SEC to wait until the Ripple case’s remedial phase is complete. As a result, the SEC’s plans to appeal remain a significant obstacle for XRP.
Despite this, there is a glimmer of hope for XRP investors. There is a possibility that the US political landscape could shift, leading to the end of the SEC’s plans to file an appeal. This potential change in the political environment could have a significant impact on the future of XRP and the crypto market as a whole.
In the midst of these legal battles and regulatory challenges, Ripple CEO Brad Garlinghouse recently shared his thoughts on politics. In a discussion with Tony Romm of the Washington Post, Garlinghouse emphasized the growing influence of crypto voters in the upcoming elections. He called on the Democratic Party to embrace a bipartisan stance on innovation, highlighting the importance of keeping politics out of the crypto space.
The conversation around cryptocurrency has also made its way to Capitol Hill, with prominent figures like Donald Trump expressing support for cryptos. This growing recognition of the potential of crypto in the political sphere could have far-reaching implications for the industry and its future growth.
Stay tuned to Extreme Investor Network for more updates on the latest developments in the Stock Market, trading, and Wall Street. Our expert analysis and unique insights will keep you informed and ahead of the curve in the world of investing. Happy investing!