it has been a long time since we saw an update in the lawsuit between ripple and the sec in today's video we will look into the recent updates and we'll look into why we feel that xrp is not on the verge of taking over the globe while there are a lot of speculations about cryptocurrency which one among them is true and why would they be true stay tuned to find the answers to all of these questions but first we are giving away 25 xrp coins at the end of the month to one random subscriber to continue their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comments section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe xrp has been going through some major updates that could make this coin one of the best cryptocurrencies in the market this could be the point where the price of the cryptocurrency starts to kick off from the margin that we would expect it to be at the updates that are being rolled out for xrp will also be very important in ensuring that the community behind the cryptocurrency stays alive and keeps the hope high by the time the lawsuit comes to an end one of the major reasons why we started seeing a fall in the prices and why the growth of xrp suddenly turned stagnant is due to the lawsuit filed by the sec against ripple allegedly for selling unregistered securities this claim was immediately denied by ripple that is the parent company of xrp stating that xrp is not a security and is perhaps a digital currency a cryptocurrency and therefore cannot be included under the orders and regulations of the sec as a reply to this they claimed that the prices will certainly keep moving towards the higher points at a much faster pace given the hype that it has been creating for a long time one other thing that has been happening in the market is when xrp army's unofficial head of legal affairs jeremy hogan stated that the duration that xrp is going through right now is a hell week as a matter of fact he asserted that this is applicable more importantly to the ripple and scc as they go through the case he also thinks that since things have been going ahead at such a fast pace we may be able to see the end of the facts discovery phase by the end of august this will certainly be good news for a huge number of people the end of this phase will mean that the case has come to almost an end as the judge would then have learned all that she has to learn about scc and ripple xrp went through all the resistances that it had over it in the past week the rapid increase in the prices is owed to various factors that may have played a direct or an indirect role in the manner in which the coin performs one of the recent highs recorded was over dollar and 35 cents post which the prices did fall back down a bit as of the 22nd of august 2021 the prices fell further down to one dollar and 26 cents the prices then took hold of the support levels in a very short span of time there was a bit of inconsistency in the prices depicting the volatility that could pose in the market the prices do look to be bullish and there are high chances that we might see the prices pushing up to higher marks in no time the best thing that could happen to xrp will be positive news coming out of the lawsuit against the sec this will help in taking the price of the cryptocurrency all the way to the moon as a huge number of investors start jumping into xrp to make their part of the profit as the sec seems to be losing their grip on the case they have been making desperate attempts to make a leap out of the drowning situation that they are in sec seems to be making attempts to get terabytes worth of slack messages from ripple despite having provided millions of records to the scc it looks like the sec has been demanding more information for them to work upon as a response to this step ripple decided to respond back with a notion seeking scc to produce their own internal memos as all of this action continues in the court the phase of discovering the fact has rather turned very adventurous in recent times ripple has already been able to collect over 11 million documents which form up to nearly 10 terabytes of data in all out of this they could even provide over 165 000 for inspection the sec has been trying to find that loophole for a long time that may not really be existent one of the major benefits that ripple has to its end is the new legislature that may soon be passed by congress for the american citizens this will benefit xrp in a huge manner because it clearly distinguishes between what could possibly be security while what could be a cryptocurrency based on the definitions that have been included the case will come to an end immediately pushing the prices to sky high in virtually no time as we mentioned earlier it looks like the sec has been losing grip on this case slowly as time passes as this happened they switched their strategy all of a sudden which was yet again another major move showing the desperation that they have to make a change in the fate of xrp very interestingly this has not been the case with xrp even as the lawsuit proceeded the price of xrp has been at a good stable point without a lot of inconsistencies even though the growth has been limited it has been making progress at a very slow and steady pace for a lot of people considering xrp to be security just does not make sense as hundreds of similar concepts are still working without any forms of action from the scc we saw a major change in the strategy through the introduction of an entirely new argument since the start of the case sec has been sticking to the point that xrp is digital security and not a cryptocurrency however as the claim started to fail they went on to take a very technical stand now the allegations seem to be against ripple's marketing team as they seek specific slack communication within the organization they now seem to be looking into how xrp was being advertised back when it was being showcased to potential investors the sec now has been trying to prove if xrp was sold to make it look like a security this was yet again a very planned move from the sec as they had nowhere else to go with the previous argument irrespective of the change in stance by scc it looks like the case still seems to be going in favor of ripple this is a very good indication for ripple and the investors yet again people have been expecting a lot from cryptocurrency in recent days as they get signs of a positive outcome from the ripple versus sec case the market started going through high sentimental drives which resulted in an up spike in the recent weeks energy web is one other development related to the xrp the energy web has the motive of harnessing the power of blockchain and accelerating low-carbon customer-centric electricity systems this will be achieved by enabling the energy asset owned by the customer to participate in any energy market xrp may have a huge connection with this unique technology the aim here is to reduce carbon emissions which have been over the charts for a long time given the efficiency of xrp we really think that there are high chances that xrp could be a major part of this change so that was about the secret partnership with the altcoin ewt for a company like ripple which has been performing really well gaining a lot of collaborations with various institutions the chances are that we will see them going on with their progress for a long time one of their biggest strengths is the technology that they use this will in itself be sufficient to make a major difference in the market another major benefit that they have up their sleeves is the environmental efficiency in their systems this is one of the most important features that would ever be required considering the fact that the world is turning more environmentally conservative as each day passes as more and more people enter into the world of cryptocurrencies including warren buffett who has a history of calling bitcoin a rat poison the concept seems to be coming to the notice of a huge number of people throughout the globe before we come to the end of this video we would like to learn more about you do you invest in xrp if yes what is your price prediction let us know in the comments below if you want to continue to know about xrp we have got two more videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video kindly note that the prices of cryptocurrencies frequently change so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice and you should not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered as financial advice do conduct your own due diligence and consult your financial advisor before making any investment decisions [Music] you
