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

Azeez Mustapha
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

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.