$2 Billion Fine In Ripple vs SEC

These documents were filed last Friday, while Ripple’s Chief Legal Officer (CLO) announced that the SEC will fine the company $2 billion.

This is a hefty fine for Ripple, but at the same time it could also mark the end of the Ripple vs. SEC lawsuit, which has been ongoing for several years. What will Ripple do after the release of the documents?

XRP Price Experiences Slight Rise During Possible Turning Point Ripple Lawsuit

The XRP price is at the level of $0.648 on Tuesday morning, about +2.7% higher than 24 hours ago, while the market is up more than +5% in this time frame. XRP is seeing gains in the past 4 days and is up +10.5% in the past week.

The rise in XRP seems to be mainly based on the Bitcoin price, which means that there is not yet a strong fundamental reason for buying XRP in the shorter term. The altcoin is currently back above its 30-day average, giving it strong technical support to rise further in the coming days and weeks.

But XRP price activity could change sharply after the SEC filings are made public today. Stuart Alderoty, Ripple’s CLO, shared yesterday that the SEC will fine Ripple $2 billion for, among other things, selling XRP, an “unregistered security.”

According to Alderoty, the SEC is trying to intimidate Ripple and the entire industry with this fine. The SEC is a party that, according to Alderoty, has repeatedly shared statements that are “fake, incorrect and misleading”.

As you will see when the SEC’s brief is made public tomorrow, they ask the Judge for $2B in fines and penalties. 1/4 https://t.co/HM8dBbn7lp

— Stuart Alderoty (@s_alderoty) March 25, 2024

The SEC sued Ripple CEO Brad Garlinghouse and co-founder Chris Larsen for $1.3 billion in December 2020 for selling unregistered securities. In 2022, Ripple was awarded a partial victory against the SEC when judge Analisa Torres ruled that XRP does not meet the characteristics of a security.

After this statement, Ripple was relisted on several exchanges and XRP experienced a strong increase, making it worth more than $0.80. But considering the Ripple lawsuit is still not over, XRP has weakened and the end of this lawsuit is the key for XRP to rise again.

If the SEC’s demands are announced today, it could set the tone for the next hearing and possibly be the beginning of the end of the Ripple lawsuit. What XRP will do largely depends on how the lawsuit ends.

Alternatives to XRP

What will XRP do after the SEC filings are made public? That purely depends on what is in the documents and how the market reacts to them. XRP could therefore go in any direction and is, in that respect, a risky investment for the shorter term.

That’s why we look at some promising alternatives to XRP that could outperform in the shorter term. Today we look at 3 altcoins that are still for sale at a low price in a crypto presale and, using the Ethereum blockchain, have their own unique staking mechanism with which an investment can lead to a new source of passive income.

Green Bitcoin (GBTC)

Green Bitcoin (GBTC) is one of the most promising crypto presales of the moment, having raised over $9 million in just a few weeks. This green alternative to Bitcoin is available for purchase at a discounted price and can be used to earn very high staking rewards.

In addition to a traditional staking model, Green Bitcoin uses a special staking model, which richly rewards users for predicting the Bitcoin price. And because the Bitcoin halving is coming soon, GBTC has the potential to become worth a lot.

GBTC retails for $1.10 each in presale and is a second chance, so to speak, for those who missed Bitcoin’s early pumps. During the presale you can stake GBTC to passively earn tokens before the first exchange listing.

eTukTuk (TUK)

Another promising and sustainable alternative to XRP is eTukTuk (TUK), a crypto project that helps developing countries make the mass transition to sustainable transport. The TUK token creates a circular economy, where investors earn passive income and executives save money.

In certain developing countries, there is widespread use of the Tuktuk, a three-wheeled vehicle that emits a lot of CO₂. The eTukTuk is an electric alternative that not only drives more economically and is cheaper, but also uses AI to drive as efficiently as possible based on, among other things, current traffic.

We’ve hit a major milestone, raising $2M in our pre-sale!

Thanks to our incredible community for your support.

Rest assured, these funds will fuel our mission for a sustainable future 🚀https://t.co/4kiTWB8U8Z

— eTukTuk (@eTukTukio) March 20, 2024

eTukTuk has now raised $2.5 million from its presale and is selling TUK for $0.029 each. Soon, eTukTuk will have its first exchange listing and TUK holders can use Power Staking to earn passive income.

Bitcoin Minetrix (BTCMTX)

A project you don’t want to miss for the Bitcoin halving is Bitcoin Minetrix (BTCMTX). This project makes crypto mining more accessible than ever with its Stake-to-Mine mechanism, which allows you to mine Bitcoin via the cloud.

By staking BTCMTX you earn tokens and mining credits, the mining credits of which you can use to mine BTC via the cloud. This entire process runs for the user via a clear dashboard, making Bitcoin mining simple and more decentralized.

#BTCMTX offers a dependable cloud mining solution tailored for every #Crypto enthusiast.

Past hardware concerns and scams have deterred many.

This decentralized method ensures a transparent and protected mining journey. 🔒 pic.twitter.com/4bi8D97oKb

— Bitcoinminetrix (@bitcoinminetrix) March 25, 2024

BTCMTX is on presale for $0.0142 now that the project has raised over $12.6 million. Soon, Bitcoin Minetrix could reach its $15 million hard cap and the token could be launched on its first exchange. Shortly afterwards, the mining protocol will go live and you will be able to mine BTC via the cloud by staking BTCMTX.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.