The lack of updates from the ongoing SEC v Ripple issue has left XRP in the hands of broader market sentiment.
Investor optimism against the SEC against the Ripple case paused
It was a quiet start to the weekend for Ripple, with no SEC v Ripple updates to guide XRP.
The lack of a response from the Securities and Exchange Commission (SEC) to Ripple’s court filing in the middle of the week and the court’s ruling on the SEC’s objection to the court’s refusal of the SEC’s request to protect William Hinman’s speech-related actions have tested buyer appetites.
In a famous speech in 2018, Corporate Finance Department William Henman said that Bitcoin (BTC) and Ethereum (ETH) are not securities.
The fallout from the SEC win extends far beyond XRP, leaving the broader cryptocurrency market in limbo. Over the weekend, Cardano founder Charles Hoskinson Delivered His thoughts on the SEC v Ripple case and the SEC’s classification of cryptocurrencies as a security. Hoskinson concluded,
“Courts offer poor alternatives to legislative loopholes as we’ve seen even with stable rulings like Vaporization Roe v. Wade. If we want security, we must legislate. This is our window. Do whatever you want with it.”