Ripple Partners with Nelnet to Create Investment Fund to Finance Carbon-Reductive Projects

13 October 2021 | Updated: 13 October 2021

One of the top enterprise blockchain and cryptocurrency solutions, Ripple (XRP), recently announced a partnership with Nelnet Renewable Energy through a $44 million joint investment. The official press release noted that Ripple provided a higher share of the investment.

The investment would finance solar energy projects across the US as a show of support for the transition to a cleaner and more stable energy future.

According to Nelnet, the solar projects financed by the Ripple Nelnet Renewable Energy Fund would offset more than 1.5 million tons of carbon dioxide over 35 years.

Ripple forged numerous partnerships in 2021 to foster the creation of a carbon-neutral future for global finance. In 2020, the blockchain company partnered with Energy Web and the Rocky Mountain Institute to “decarbonize” the XRP Ledger.

Commenting on the new development, Head of Social Impact at Ripple Ken Weber stated that:

“Guaranteeing a clean energy future is a major priority across every industry, not only to drive future economic growth but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it’s evident that the technology will underpin our future financial systems. We’re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of the carbon-negative cryptocurrency industry.”

Key Ripple Levels to Watch — October 13

XRP has returned into the three-week-long ascending channel and $1.1000 – $1.0500 pivot zone, as the broader market records a massive correction since the recent bull run.

XRPUSD – 4-Hour Chart

The sixth-largest cryptocurrency maintains a bullish attitude above the $1.0500 pivot line, despite attempts by bears to push the price lower. That said, we expect XRP to reclaim a standing above the $1.1000 pivot level in the near term, followed by a bullish continuation to the top of our ascending channel at the $1.1500 zone.

A break above this level should cement a bullish recovery to the $1.3000’s over the coming days and weeks. With market conditions at neutral levels, this projection could get initiated soon.

Meanwhile, our resistance levels are $1.1000, $1.1500, and 1.2000, and our support levels are $1.0500, $1.0000, and $0.9500.

Total Market Capitalization: $2.27 trillion

Ripple Market Capitalization: $50.9 billion

Ripple Dominance: 2.24%

Market Rank: #6

 

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Ripple vs.SEC Lawsuit: XRP Holders Can Now Assist in Legal Hearings

6 October 2021 | Updated: 6 October 2021

Ripple Labs has registered another snack win in its ongoing lawsuit with the US Securities and Exchange Commission (SEC) after US District Judge Analisa Torres granted the status of “amici curiae” to the XRP community in the lawsuit.

Prominent XRP advocate and lawyer to the blockchain startup John Deaton also received special status from the ruling. That said, Deaton and XRP holders can serve as “friends of the court,” enabling them to assist the court in legal briefings on the case.

Judge Torres noted in the order that this type of assistance would come in handy during dispositive motion briefings. However, the order detailed that the court retains its ability to request or deny further applications.

Another prominent lawyer involved in the case, James Filan, described the latest development as a “huge win” for the XRP community.

Notwithstanding the special status, XRP Holders’ motion to intervene in the case got denied. The court also clarified that to maintain the balance between Ripple investors and the parties, the community cannot present witnesses or effective evidence.

The latest court order comes following criticism of the judges for exhibiting bias towards the SEC. Also, the community felt cheated with the court’s decision-making prices as the Commission continued to file motions allowing it to withhold critical information.

Key Ripple Levels to Watch — October 6

Following a +8% bullish rally over the past 48 hours, XRP has slipped back below the $1.0500 support amid a lack of momentum for a bullish continuation above the critical $1.1000 psychological mark. That said, the sixth-largest cryptocurrency remains restricted in the upper-end of our ascending channel.

XRPUSD – 4-Hour Chart

Nonetheless, we expect any sustained bearish pullback to get restricted by the $1.0000 critical support. However, bears do not currently possess the strength to push the price to the $1 support instead, we expect to see a goodish recovery into the $1.1000 – $1.0500 pivot area in the coming hours.

Meanwhile, our resistance levels are $1.0500, $1.1000, and 1.1500, and our support levels are $1.0000, $0.9500, and $0.9275.

Total Market Capitalization: $2.22 trillion

Ripple Market Capitalization: $48.9 billion

Ripple Dominance: 2.2%

Market Rank: #6

 

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Ripple vs. SEC Lawsuit: Ripple Tackles SEC’s Repetitive “Privileged Documents” Argument

29 September 2021 | Updated: 29 September 2021

In the latest development on the Ripple vs. SEC case, the former has signed a letter responding to the latter’s Brief regarding allegedly privileged documents, which the SEC redacted or withheld. 

The defendant argued against the Commission’s repetitive “privileged” stance to block discovery and review of evasive and responsive documents to the case. 

The case has recorded one of the most crucial pieces of information revealed by Ripple, which contained the plaintiff’s 2018 XRP analysis confirming that the SEC’s manifold versions of the privileged argument hold no water. The defendant revealed that an SEC division’s legal reports of XRP made their way to “certain individuals at the SEC,” a day before the controversial Hinman speech of 2018. 

Ripple also discredited the regulatory body’s logged privilege documents, particularly the XRP legal analysis under three claims. The defense threw out the attorney-client privilege argument by the SEC, arguing that the documents in question are not working documents and therefore are not entitled to work privilege. 

The defendant added that the original investigative file of the SEC did not contain these documents, arguing that the Commission wants to impose these documents. Ripple noted that the investigative documents are covered by the SEC’s categorical privilege log, which requires no further logging. 

Key Ripple Levels to Watch — September 29

XRP continues to struggle with gaining any substantial bullish headway as the sixth-largest cryptocurrency trades within a flat wedge. This trading pattern comes amid rapidly diminishing trading volume. We believe that the flat trading momentum recorded over the past few days comes due to the upcoming infrastructure bill, which has triggered a risk-averse outlook in traders, explaining the declining trading volume.

XRPUSD – 4-Hour Chart

Regardless, we expect bearish price moves to get repelled by the $0.9000 support area. On the other hand, a break above the $0.9500 resistance should reinstate some bullish confidence for traders. 

Meanwhile, our resistance levels are $0.9500, $1.0000, and 1.0500, and our support levels are $0.9000, $0.8800, and $0.8500.

Total Market Capitalization: $1.88 trillion

Ripple Market Capitalization: $43.3 billion

Ripple Dominance: 2.3%

Market Rank: #6

 

 

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Ripple vs. SEC: Judge Denies Ripple’s Motion to Access SEC Staff Trading History

22 September 2021 | Updated: 22 September 2021

Magistrate Judge Sarah Netburn has denied Ripple Labs’ recent motion to compel the US Securities and Exchange Commission (SEC) to present records of its staff crypto transactions to prove that the Commission changed its judgment of XRP being a security.

The defendant’s attorneys tried to prove that some SEC employees traded XRP, which would show that the agency did not see XRP as security before.

However, Judge Netburn opposed this assertion for several reasons. Firstly, she upheld the relevance of the Securities and Exchange Commission’s argument that “the preclearance decision process does not involve any determination by SEC Ethics Counsel that a trade complies with the securities laws.”

Secondly, she opined that there was a lack of legal justification to approve the defendant’s request considering that the federal rule protects the privacy rights of SEC employees as US citizens. Judge Netburn noted that:

“As to the annual certifications that Defendants seek, Congress has presumptively prohibited disclosure of such financial information through federal privacy statutes and regulations in order to maintain government employees’ privacy.”

Finally, she explained that since the SEC had no trading policy regarding digital assets during the time of interest for the lawsuit, its employers did not break any rule even if they indeed traded cryptocurrencies.

Key Ripple Levels to Watch — September 20

Ripple (XRP) suffered a damaging blow from the $1.0500 level on Sunday amid an industry-wide crash. This decline brought XRP near the $0.8500 level, a six-week low.

XRPUSD – 4-Hour Chart

That said, the sixth-largest cryptocurrency now retests the $0.9500 barrier as bears run out of steam. Our 4-hour MACD indicates that market momentum is slowly turning bullish, as bulls aim for the $1.0500 mark. A further decline from the current price should get repelled by the $0.9000 round figure.

Meanwhile, our resistance levels are $0.9500, $1.0000, and 1.0500, and our support levels are $0.9275, $0.9000, and $0.8800.

Total Market Capitalization: $1.87 trillion

Ripple Market Capitalization: $43.6 billion

Ripple Dominance: 2.34%

Market Rank: #6

 

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Ripple to Become “Public Coin” After SEC Lawsuit: Andrew Lokenauth

15 September 2021 | Updated: 15 September 2021

The Vice President – Head of Financial Reporting at Amalgamated Bank, Andrew Lokenauth argues that Ripple (XRP) would assume the role of “Public Coin” once Ripple Labs concludes its legal tiff with the US Securities and Exchange Commission (SEC).

Lokenauth has engaged in public commentary on cryptocurrencies for years and has held critical positions at Goldman Sachs, AIG bank, and other top financial institutions. The Goldman Sachs expert noted that:

“Ripple will redefine online payments, and I believe that Ripple XRP will likely IPO and go public once its SEC lawsuit is resolved.”

Lokenauth added that the “main benefits of using the Ripple protocol are speed and reduced risk. XRP is a replacement for SWIFT, which is expensive and slow.”

The Amalgamated Bank executive explained that SWIFT, a 50-year-old interbank settlement system, managed the movement of money across borders. Fiat currencies typically take around 3 to 5 days to travel from one country to another via SWIFT and charge exorbitant transfer fees. Ripple, on the other hand, can facilitate cross-border transactions in 5 seconds and at a cheap rate.

In an interview with Cryptopolitan.com, Lokenauth elucidated that the payment solution provider uses the Ripple protocol and can deliver an even faster and cheaper mechanism for interbank payments. He argued that XRP is the future of cross-border payments.

Key Ripple Levels to Watch — September 15

XRPUSD has regained a decent bullish momentum as the price struggles to scale the $1.1000 hurdle. However, the sixth-largest cryptocurrency has spent the last 15 hours battling with that line to no avail.

That said, XRP needs to record a bullish push above the $1.1000 level, where a confluence of technical factors, including the psychological resistance line, the 50-day SMA, and the pivot level. Failure to clear this hurdle could restrict the cryptocurrency in a consolidation range between $1.1000 and $1.0500.

Meanwhile, our resistance levels are $1.1000, $1.1500, and 1.2000, and our support levels are $1.0500, $1.0000, and $0.9500.

Total Market Capitalization: $2.14 trillion

Ripple Market Capitalization: $50.8 billion

Ripple Dominance: 2.38%

Market Rank: #6

 

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SEC vs. Ripple: New Discovery Could Finalize Verdict

10 September 2021 | Updated: 10 September 2021

A new development in the ongoing Ripple vs. SEC Lawsuit has emerged and could lead to a final verdict in the case. The defendant’s first request for admission (No. 99) to the US Securities and Exchange Commission, attached to the recent court filing, revealed arguably the most critical information for the lawsuit.

The document revealed that the Commission never notified any third party that it deemed XRP a security until after the lawsuit surfaced. This information has now become an official admission in the case. The SEC’s response to Ripple’s Request for Admission No. 99 noted that:

“Subject to all of the foregoing objections, the Commission admits that before the filing of this case, certain third parties inquired about the legal status of XRP. However, the Commission did not state a view one way or the other in response.”

New SEC Admission Contradicts Hinman’s Deposition

The watchdog’s admission heavily contradicts Former SEC Director William Hinman’s deposition where he testified, under oath, to advising Ripple Labs to cease the sale of XRP as the Regulator considered it to be a security.

The former SEC executive was already in a tight spot with speculation on his corrupt actions regarding the 2018 speech. With the latest discovery, Hinman could lose more than the SEC with the final verdict.

A vital article surfaced recently, revealing information against Hinman over the controversial 2018 speech. The publication claimed that William Hinman’s comments on Ethereum during the 2018 speech were calculated and became one of the primary factors behind the second-largest cryptocurrency’s 600% spike to date.

In August, while the lawsuit saw the court grant Motion to Seal in both Slack and DPP issues, many onlookers got concerned over the censure of parts of Hinman’s deposition. Speculations ran amok, with some alleging that the sealed information contained evidence against Hinman for orchestrating the price surge. Some also alleged that the former SEC Director visited eminent Ethereum Foundation officials and private participants, convincing them to invest in ETH before the speech.

 

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Ripple vs. SEC: Ripple Criticizes the SEC’s Compelling Motions

8 September 2021 | Updated: 8 September 2021

Ripple (XRP) has filed a response to the SEC’s Letter Motion compelling discovery of Ripple’s internal meetings’ audio-visual recordings. While the defendant noted that the compelled data is under-production but objected that the SEC’s Motion to Compel was “Not Ripe for Judicial Determination.”

The cross-border payments solution company argued against the Commission filing further Motions to compel as the fact discovery phase has elapsed. Ripple also condemns the SEC Motion to compel discovery, noting that it was an “ill-conceived motion practice concerning an issue that is not even ripe for adjudication.”

The defendant noted that the plaintiff could have opted to meet in private if it had any additional queries about the ongoing audio-visual recordings discovery instead of filing “invalid” motions. Ripple noted that it believes the court should deny SEC’s “moot” motion, given that there are no outstanding requests for recording presently in dispute. Also, the defendant appealed to the court to put off future requests by the SEC for further recording.

The payments company also argued against the agency’s vague definition of “documents,” which the plaintiff used in accusing the defendant of failing to discover data via meet and confer. Ripple added that the SEC’s definition of documents is anything “unreasonable broad” and results in a “burdensome and disproportionate” discovery phase.

Key Ripple Levels to Watch — September 8

Along with the rest of the crypto market, XRP suffered a flash crash yesterday to the $0.9250 level, erasing almost four weeks of gains. The market crash got triggered by Bitcoin-related factors and an SEC lawsuit threat to Coinbase.

XRPUSD – 4-Hour Chart

The cryptocurrency now faces the arduous task of climbing back above the $1.3500 area soon. A sustained indecisive momentum at the current level could reinvigorate bears, which drive the price towards the $0.9000 area. At press time, XRPUSD trades at $1.0660, up by 15% from its recent crash.

Meanwhile, our resistance levels are $1.1000, $1.1500, and 1.2000, and our support levels are $1.0500, $1.0000, and $0.9500.

Total Market Capitalization: $2.07 trillion

Ripple Market Capitalization: $50.6 billion

Ripple Dominance: 2.45%

Market Rank: #6

 

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Ripple vs. SEC Lawsuit: Ripple Files for Disclosure of SEC Staff Crypto Holdings

1 September 2021 | Updated: 1 September 2021

The Ripple team recently filed a motion to force members of the United States Securities and Exchange Commission to disclose their XRP holdings. If granted, the motion would reveal documents on whether SEC staff are permitted to trade cryptocurrencies.

The motion filed by the legal team of the payment solutions company also intends to unearth the Commission’s preclearance judgment on XRP, Bitcoin, and Ethereum. In simpler terms, it aims to discover data on any policy preventing SEC employees from trading these cryptocurrencies.

The motion allows for the submission of information anonymously, either individually or in an aggregated format. According to a reading from the filing, the SEC failed to implement any policy restricting its staff from trading crypto until January 2018. The filing noted that this delay would have given SEC employees a window to invest in XRP.

If Ripple’s argument is valid, the Commission would have established stricter regulations on Ripple than on its staff. The filing explained that:

“That fact undermines the SEC’s allegations that the Individual Defendants were reckless in failing to determine as early as 2013 that offers and sales of XRP were securities.”

Key Ripple Levels to Watch — September 1

XRP/USD posted a sharp recovery yesterday, following a 13% rally, which saw the cryptocurrency peak at $1.2435. However, the sixth-largest cryptocurrency fell back below the $1.2000 line and touched the $1.1500 support, all within 24 hours.

XRPUSD – 4-Hour Chart

That said, bulls continued to retest the $1.2000 mark to no avail, indicating that this level could spur a bullish rally if broken soon. Given the current sentiment in the broader market, we expect a sustained break above the $1.2000 resistance in the coming hours. This bullish break could lead to several consecutive bull runs to the $1.3500 level and possibly higher.

Meanwhile, our resistance levels are $1.2000, $1.2700, and 1.3250, and our support levels are $1.1150, $1.1000, and $1.0500.

Total Market Capitalization: $2.10 trillion

Ripple Market Capitalization: $56 billion

Ripple Dominance: 2.65%

Market Rank: #6

 

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Ripple Suffers 5% Dip Amid Widespread Market Correction

25 August 2021 | Updated: 25 August 2021

Wednesday began on a quiet note for Ripple (XRP) as the cryptocurrency claws its way back above the $1.1500 level, following yesterday’s 5% dip. At press time, the sixth-largest cryptocurrency trades at $1.1560 (+1.81%).

The correction in XRP came after a sharp rejection in Bitcoin from the $50,000 mark, which triggered a market-wide sell-off.

Meanwhile, the legal battle between Ripple and the United States Securities and Exchange Commission continues to blow hot, as senior Ripple executives call out the watchdog on its use of “deliberative process privilege (DPP).”

Ripple’s team of lawyers argue that the deposition is former SEC executive William Hinman and the document held back by the agency could “fatally undermine the SEC’s allegations that the Individual Defendants acted recklessly in failing to recognize Ripple’s sales of XRP as an unregistered securities offering as at that time, securities law experts of Mr. Hinman’s stature (to say nothing of the full Commission) had not reached that conclusion themselves, despite looking into the issue.”

Nonetheless, many analysts maintain a bullish stance on the long-term outlook of XRP. Prominent crypto traders and influence Credible Crypto recently noted that XRP could rally to the $20 – $30 area soon, which stands for a gain of over $2,300%.

Key Ripple Levels to Watch — August 25

XRP has finally broken beneath the persevering trendline and now struggles to remain above the $1.1500 level. While this could be a necessary correction to help the cryptocurrency rebound over the $1.2700 – $1.3250 area, it could also be the beginning of a significant price correction towards the $1.000 area.

XRPUSD – 4-Hour Chart

That said, XRP needs to stay above $1.1000 to keep the overall bullish bias intact, as bears plot to push prices across the crypto market lower.

Meanwhile, our resistance levels are $1.2000, $1.2700, and 1.3250, and our support levels are $1.1100, $1.0500, and $1.0000.

Total Market Capitalization: $2.05 trillion

Ripple Market Capitalization: $53.1 billion

Ripple Dominance: 2.59%

Market Rank: #6

 

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Ripple vs. SEC: SEC Argues Against Punishment and Override of DPP

18 August 2021 | Updated: 18 August 2021

In the ongoing Ripple vs. SEC legal battle, the SEC recently filed an opposition against Individual Defendants’ Motion challenging the SEC’s improper assertion of the Deliberative Process and other privileges (DPP). The Commission has asserted its position against the discovery of internal and inter-agency documents protected by DPP.

The SEC urged the court not to override and punish efforts by the government, with emphasis on the XRP lawsuit. The agency noted that the internal, pre-decisional, and deliberative data came through defendants which they did not know of. That said, the regulatory body marks the data discovery plea from Ripple as irrelevant to claims or defense peculiar to the lawsuit.

Meanwhile, the Securities and Exchange Commission argued that it had already developed eminent documentation for the defendants. However, the defendant—Ripple— has sealed that most pivotal evidence, i.e, the deposition testimony of former SEC Division of Corporation Finance Director William Hinman that he met with some Ripple representatives.

Hinman claims that he alerted the defendants that their XRP sales were sales of securities, adding that he further advised Ripple to halt the unregistered sales.

The SEC argues that the defendant’s reasons behind its motion challenging the agency’s inappropriate assertion of the Deliberative Process are “illogical.” As such, the agency expects the court to throw out the defendants’ request to reveal non-public and privileged SEC data.

Key Ripple Levels to Watch — August 18

XRP is in the middle of a sharp correction towards the $1 level as the cryptocurrency aims at easing out of overbought conditions. However, the decline might end soon as trading conditions are back at neutral levels, based on our 4-hour MACD Indicator.

XRPUSD – 4-Hour Chart

That said, we expect a rebound over the coming hours to the $1.2000 level, given that price stays above the 50 SMA line. While further declines are unlikely, a break below the $1 mark could frustrate bullish recovery efforts and increase bearish pressure.

Meanwhile, our resistance levels are $1.1500, $1.2000, and 1.2700, and our support levels are $1.1000, $1.0500, and $1.0000.

Total Market Capitalization: $1.98 trillion

Ripple Market Capitalization: $51.7 billion

Ripple Dominance: 2.61%

Market Rank: #6

 

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