The longstanding XRP lawsuit filed against the crypto solutions company and cross-border payment firm Ripple by the United States Securities and Exchange Commission (SEC) is said by experts to be crucial for the performance of assets in the overall crypto market.
As part of Gary Gensler’s fight to achieve crypto regulation by enforcement, the SEC contends that XRP is a security, claiming that Ripple violated Securities Law when it offered a non-security for sales. The Silicon Valley tech company has been fighting tooth and nail to defend the sixth-largest cryptocurrency by market cap, stating many concrete facts that counter the SEC’s claims.
However, Analisa Torres, the presiding judge in the XRP lawsuit is yet to issue the court’s summary judgment amid SEC’s recent request that Ripple’s fair notice defense be denied.
XRP Predicted To Be Next Bull Market Mover
In a recent statement, the pseudonymous crypto strategist Tree of Alpha shared his thoughts regarding the crypto market if XRP is classified as a non-security by the court.
According to him, crypto proponents should be gunning for Ripple to defeat the SEC in the XRP lawsuit as that would trigger a major shift in the prices of the top 300 crypto assets by market cap.
“The best possible news you could be hoping for right now as a crypto trader is a positive resolution for the Ripple case. If we get a headline that XRP in its current form is not a security, we’ll likely be sending it and the rest of the top 300 to Valhalla,” he said.
To buttress his point, the pseudonymous crypto expert told his 153k followers that a win for Ripple and XRP would thwart the SEC’s crypto regulation by enforcement movement. This, he said, would introduce a new wave of positivity into the crypto market and boost buying pressure.
“The SEC has been unhinged trying to brand everything in Crypto as a security that they need to regulate. A clear win against them would hinder any future cases they might have against other alts/crypto companies,” he added.
Ben Armstrong AKA Bitboy, a popular Youtuber and crypto influencer shared a similar view. As published, Bitboy surmised that XRP would lead the next bull run, adding that the XRP Ledger native token would be the top performer in the fast-approaching bull run.
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