Ripple won the first round against SEC when Judge Analisa Torres ruled that XRP does not meet the criteria to be considered a security. Securities and Exchange Commission filed a lawsuit against Ripple Labs in 2020 in front of United States District Court for the Southern District of New York, alleging that the defendant illegally traded XRP and this ruling is a major setback in SEC Chairman Gary Gensler's agenda.
The ruling catapulted XRP to $0.938, a one-year high, as Coinbase and Kraken re-listed it and started trading. It has fallen off some since then, but it is still hovering around $0.7, marking 70% gains since the court announced its decision. But not everything is peachy in the Ripple land.
Ripple asked Judge Torres for a summary judgment, which she grated, but also partially. In her ruling, she said:" "Defendants' motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen's and Garlinghouse's sales, and DENIED as to the Institutional Sales."
In layman's terms, this means that XRP isn't a security, but not when sold to institutional investors. In short, Ripple is still on the hook for some $729 million. If Judge Torres doesn't change her mind before the end of the trial, this could spell disaster for Ripple and may very well mean the death of XRP. SEC and Gensler will use the verdict to throw a book at them, making an example for other crypto projects targeted by the Commission's lawsuits.
Ripple may be still swimming, but it is wounded and several of its competitors are circling. Cryptos like Wall Street Memes (WSM), BTC 20 (BTC20), yPredict (YPRED), Launchpad XYZ (LPX), Chimpzee (CHMPZ), and Mr. Hankey Coin (HANKEY) are ready to take advantage of any weakness. These tokens offer a more secure long-term prognosis and don't have anything hanging over them as XRP does. That is why most experts agree that they represent a much safer investment option at the moment. Here is what you need to know about them.
With $15.3 million raised so far, Wall Street Memes is having one of the most successful presales of the year, and deservedly so. This amazing meme coin is breaking records on several fronts, with the backing of its million-strong community gathered around r/wallstreetbets, one of the most popular financial subreddits.
As WSM races towards its hard cap goal and subsequent listings on crypto exchanges, investors are scrambling to get their hands on as many tokens as they can. The demand for WSM is huge, and many experts agree that it is a much better option than Ripple at the moment, especially considering how cheap it still is.
One of the main issues Bitcoin is experiencing is that the token is technically speaking outdated. Based on older protocols, BTC simply lacks the features modern tokens have. BTC 20 aims to correct those issues. An ERC-20 altcoin based on the Ethereum network, BTC20 pays homages to the original Bitcoin, both in name and price. It offers a highly lucrative staking option that can be very profitable, especially for investors who snag it during the presale.
Once the 3.05 million tokens allocated for presale sell out, the holders will be able to reap benefits from a highly evolved staking feature, designed to mimic the original Bitcoin mining block. This will create a massive demand for BTC20 and its price is expected to skyrocket once the listings on crypto exchanges start.
With a powerful AI under the hood, yPredict offers us mere mortals a chance to take advantage of these amazing tools until recently reserved only for rich Wall Street firms. It will allow traders to correctly predict market trends even before they gain momentum and exploit them fully. But this is just the tip of the yPredict iceberg.
The platform is a fully functional trading app that encompasses all the features a modern trader may need. This all-in-one solution provides signal intelligence, analyses, data collection, and much more. With it, even novice traders can make a killing on the crypto market. That is why experts predict its native token YPRED will explode once its presale ends.
If you are tired of losing money on bad trading decisions, then Launchpad XYZ is just the app you need. Consisting of several essential tools, Launchpad XYZ can do wonders for your bottom line, if used correctly. It is a modern Web platform that offers several features that can make you a successful crypto trader overnight.
The app's forecast popularity bodes well for its native token LPX, which is predicted to explode as soon as the presale ends and the app goes live. In short, this is a perfect opportunity to get it while it is still cheap.
Chimpzee offers its users a rare opportunity: to help save the planet and earn some hard cash in the process. This is not a concept we come across often, especially in the crypto world, and the reason why we feel Chimpzee's native token CHMPZ will outperform Ripple in both the short and long term.
CHMPZ's holders will get a chance to earn through trade2earn, play2earn, and shop2earn mechanisms. They will also have a chance to participate in Chimpzee's various efforts in preserving wildlife and help preserve biodiversity on our planet.
Just when we thought that shitcoins have gone the way of the Dodo, Mr. Haneky Coin appeared and proved us wrong. It is one of the most successful meme coins on the market, easily offering far better earning potential than XRP.
The developers have done a great job of marketing the token, with all major crypto publications covering it. The presale ended after just 10 hours as all allocated tokens sold out and HANKEY made its debut on Uniswap a day later. The price is fluctuating, which is to be expected, but the market cap is rising steadily, breaching the $2 million threshold.
Even though Ripple scored a major victory, its war against SEC is far from over. Even a partial victory will give Gensler enough ammo to potentially wreck the entire platform and bring ruin to XRP holders. That is why we propose choosing safer and more profitable options like WSM, BTC20, YPRED, LPX, CHMPZ, and HANKEY. All of these tokens are poised for some major gains in the near future and if you want to experience some massive ROI, you need to hurry up.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.