Ripple’s recent victory in its three-year legal battle with the SEC, establishing that many XRP sales are not securities, is seen as a noteworthy and unexpected positive development in the crypto industry. Pantera Capital’s CEO, Dan Morehead, had previously identified regulatory clarity as a potential “positive black swan” for the market.
On a bearish note, John Deaton sees Ripple’s 3-year Battle with SEC as a negative event since XRP lost its charm in this unprecedented, unfair legal tussle. Maybe many fear XRP may replace Bitcoin in the long run.
How Ripple’s Win Was a Positive Black Swan?
The Case is all about the SEC’s claim that Ripple’s sale of XRP tokens violated securities regulations. Ripple’s win in July proved they were ethical and set a legal precedent challenging the SEC’s stance and providing clarity to stakeholders in the cryptocurrency market.
Notably, Dan Morehead’s earlier comment about regulatory clarity being an unexpected positive event has proven accurate in the context of Ripple’s victory. This outcome was unpredicted by many and is considered a positive influence on the industry. This is also a landmark decision by District Judge Analisa Torres who has analyzed many layers of the case. And classified Institutional Sales as securities, but Programmatic Sales, Other Distributions, and CEO/CLO Sales were not considered securities.
On a lighter note, Dan Morehead clarified why he is bullish on regulations: “Everybody ignores black swans until one happens. But if you make me say something, I would say regulatory clarity is the one thing nobody’s expecting. We’ve been an investor in Ripple since day one, and…it’s like 50/50, right? That Ripple wins,”.
He believes the decision could come soon, likely within the next two or three months.
What’s Next in XRP Price? Do We See More Pain?
Moving on to the XRP prices that are back to the 2020 levels despite the partial victory. However, the market is still in a recovery mode. There are chances that it will revive soon. In separate news, Ripple is involved in a linkup with SWIFT a major partnership, and is turning bullish for XRP. The collaboration between GateHub and XRPL Labs will unlock the potential of 14 assets. This might poise XRP’s by $1, encouraging holders to stay prepared for possible growth.
While Morehead bearish sentiment may be true as black swan events may suppress the bullish outlook, one thing is clear XRP may sustain due to community support. As of now, even SEC is bearish on the coin. Anything can happen, keep a watch.
As of writing, XRP price trades at $0.523, surging over 1.7% in the last 24 hours.
