SEC loses appeal in court

There is a new twist in the lawsuit between the SEC and Ripple, which have been at odds with each other for years. The American regulator SEC lost an appeal this week, although not against Ripple, but in a different case.

It gives new hope for Ripple and its investors that they too will ultimately emerge victorious in the battle against the SEC. The news was also shared by Ripple’s Chief Legal Officer, who hinted at good news for the crypto company.

Will Ripple win lawsuit?

The hope for a victory for Ripple comes because the court where the SEC lost its appeal this week is also the court where the case SEC vs. Ripple must eventually be settled. Ripple will probably include this case in its defense, which will make them a bit stronger.

It’s all about the SEC vs. Govil case, a lawsuit in which the SEC has accused Aron Govil of abusing his position as a controlling shareholder compared to Cemtrex. In the lawsuit, the SEC sought a $7.3 million fine.

In the case of Ripple, the amounts involved are larger, as the SEC has demanded $2 billion for selling unregistered securities.

Whether this will help Ripple’s case is complicated, it concerns the underlying reason why the court in the case of SEC vs. Govil did not go along with the supervisor’s story. If Ripple can extract important information from this that can help them with the case, it could have an effect.

Does the Ripple price rise with a win?

Investors have been looking forward to an end to the lawsuit between the SEC and Ripple for years because they want certainty about the future of the cryptocurrency. A victory for Ripple could mean good news for both the cryptocurrency XRP and the entire market.

Ripple must file a defense against the SEC’s complaint with the court by April 22. Afterwards, more will become clear about Ripple’s opportunities, partly due to other matters they cite in this defense, such as the aforementioned SEC vs. Govil.

In the meantime, the XRP price has been under pressure for a while. The price has risen gently to a level of $0.61, but this is still dwarfed by the record high of over $3 achieved in 2018. While the Bitcoin price is currently fluctuating around its all-time high.

It is expected that the Ripple price will be a lot stronger when the case with the SEC is closed. This removes some of the uncertainty among traders, causing more XRP to be bought and, more importantly, held.

A win creates even more opportunities for the XRP price. It would be a blow for the SEC as this appears to be their most important lawsuit against the crypto market. If the SEC wins, they could expand the lawsuit to similar cryptocurrency.

Currently, the XRP price is above the 50- and 200-day Moving Average, sending a bullish signal. In the coming days, it could further rise to a level of $0.66 if it continues to move above the $0.61 support level.

Best altcoins of the moment

If you want to wait for more clarity surrounding the lawsuit before investing in Ripple again, there are of course plenty of other options in the market. Below you will find two brand new coins that could see significant increases in the near future.

Dogeverse – Multi-chain meme coin

Dogeverse is a multi-chain meme coin that will be available on 6 different blockchains. This means that you can trade the same token via Etheruem, Solana, BNB, Avalanche, Polygon and Base. Eventually, a bridge will be developed so that you can easily transfer your tokens to another blockchain.

This gives Dogeverse a unique position in the market, because most meme coins are linked to their own blockchain (Dogecoin), developed on Ethereum (Shiba Inu) or on Solana (Dogwifhat). Being available on multiple blockchains makes it much easier to trade in this new Doge token.

You can currently buy Dogeverse in an affordable presale on the project’s website. There are now 4 blockchains available there and Solana and Base can also be added at any time. So you choose which blockchain you want to purchase the tokens through.

99Bitcoins – Learn-to-Earn crypo token

This week the 99Bitcoins presale was launched, a new crypto project from a well-known website on the crypto market with more than 700,000 users. On this website you will learn everything about Bitcoin, blockchain and other aspects of cryptocurrency.

By launching their own token, they are starting a Learn-to-Earn system, where you can earn $99BTC tokens by completing learning modules on the website. In addition, the token is now also for sale via a presale on the popular website.

Here you exchange ETH, USDT or BNB for $99BTC tokens, which you will initially receive on the Ethereum blockchain. Later, a bridge will be developed to BRC-20, the network developed on the Bitcoin blockchain to create dApps and tokens.

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