This is an article to shine the light on why I am 99.9% positive Ripple will win against the SEC lawsuit brought against them. I am going to assume if you are reading this you already know about the lawsuit and am not going to rehash the SEC reasons for the lawsuit, but rather in an outline explain why Ripple will eventually prevail against the SEC.
- Ripple never signed a contract with any individual who bought XRP. Neither an investment contract nor any other contract.
- Ripple holds a large percentage of XRP, but so do other business entities. Oil companies hold tanks of oil, which could be seen as a commodity. Diamond dealers hold a large number of diamonds. That alone does not mean that holding XRP deems it an investment contract.
- Ripple never held an ICO. All cases by the SEC against other cryptocurrencies have been solely based on the company pre-selling crypto or tokens in an ICO.
- XRP owned by Ripple or its founders are commodities and not securities, much like oil companies, diamond dealers, gold miners, and even crypto miners. Commodities are completely different than securities.
- SEC versus WJ Howey Co. This 1940's case made a precedent that in order for something to be deemed a security it must meet four criteria. This precedent alone spells out that the SEC is going to lose this case because no, Ripple and XRP do not meet those criteria. Go look up the case if you need to. I will not go into details here, but this makes the case a slam dunk in Ripple's favor.
In the original court documents by the SEC, they made no request for XRP to deemed a security in the future, because this request was not made in the documents a judge cannot rule that XRP is a security, and instead the SEC only wanted the Founders and Ripple to pay a fine. This is the most that could happen but based on the above bullets, even that is highly unlikely.
Now here I am going to insert my own opinion here: Any exchange that delisted XRP without having all the facts should be ashamed of themselves. Yes, the SEC is to blame for the price drop of XRP and showed they are basically clueless in their witchhunt and only harmed holders and individuals who had an interest in XRP, but the exchanges themselves participated in the decline as well, by delisting and in some cases freezing accounts, including accounts that were used for DEFI payments. This is shameful. I am not going to name names, but a lot of people are pissed by the actions that these exchanges have made. If you are going to list crypto, first you should believe in the project and then stand behind it. The woman chanting "Shame, Shame, Shame", comes to mind.
Hopefully, those exchanges will relist XRP when all is said and done. It's not their choice! It is the choice of the consumer and consumers want XRP whether they like XRP or not! I am still on the Shame thing! "Shame, Shame, Shame."
And "Shame, Shame, Shame," on the SEC who did not even have the mind to issue a court case without reasonable legality. They are lawyers but acting like a bunch of Bill Murray's wearing their neck braces. They hurt a lot of people. I held so I am not one of them, but regardless many people were hurt by it.
So all the information posted above was gleaned from Ripple's response to the SEC lawsuit, so this is their argument as well and to be honest, I agree with them. So HODL your XRP and buy some if can. You may have noticed a price increase in the last 24 hours or so, and this is a direct reaction to the response that Ripple submitted for their case. I am very optimistic and BULLISH on XRP. Let me know what you think in the comments below.
