Ripple vs SEC is one of the most talked stories within the crypto space which appear to be approaching its destiny. Hence the investor’s interest is also swelling as they are constantly accumulating a huge number of tokens in recent times. This indicates that the majority of investors continue to believe in the potential of XRP, despite the SEC’s lawsuit against Ripple.
As the SEC believes that the crypto XRP is a security and therefore Ripple has been selling it illegally for years. Soon after a formal lawsuit was filed, some US-based crypto exchanges delisted XRP, and many investors pulled XRP out of their portfolios, which negatively affected the entire crypto space, including the price of XRP.
However, the summary judgement of the lawsuit is yet to be produced which has been dragged on for more than 20 months now! In the meantime, the big investors are accumulating XRP and adding up in their wallets.
But why are large investors hoarding XRP?
Firstly, investors may be under the impression that Ripple will win the case against the SEC as the progress in the case points to the company emerging victorious. Furthermore, Hinman’s documents are believed to be responsible for the initiation of the case against Ripple, which has been much discussed.
In addition, Ripple’s general counsel also hinted at a possible victory over the SEC’s lawsuit and also suggested that the SEC could be trapped in its own web soon. In a recent update, both parties have filed their respective amicus briefs and are requesting Judge Torress set a deadline of January 4, 2023, for the non-parties to seal any portion of summary judgement.
Secondly, many countries are now focusing more on Central Bank Digital Currency (CBDC), and XRP will be a major attraction in this area. However, Ripple’s main focus has always been to work with governments and maintain the integrity of the company’s technology.
