• The U.S. Securities and Exchange Commission has had a lingering impact on the Ripple network’s position in the global blockchain industry.
• A legal expert is asserting that Ripple’s native token, XRP, is not being impacted by any of Ripple’s actions, despite its running with the SEC.
• However, the SEC has made a request to file for an Interlocutory Appeal and this could have caused a decline in XRP prices.
SEC’s Impact on Ripple Network
The U.S. Securities and Exchange Commission (SEC) has been involved with the cryptocurrency market for some time now and their relationship with Ripple and XRP continues to be a topic of conversation. The SEC vs Ripple lawsuit has undoubtedly influenced the wider markets perception of the blockchain network, however there are those who believe it has not affected XRP prices directly.
XRP Not Impacted by Ripple Actions
Prominent lawyer Jeremy Hogan insists that while the SEC might have had an impact on Ripel, it’s native token XRP has in no way been impacted by any of Ripples actions or decisions. He explained his thoughts on Twitter saying “Actually, nothing Ripple does has any real effect on XRP price, only the actions of the SEC change its price… strange.“
Price Decline After SEC Filing
Popular lawyer Bill Morgan shared his thoughts on how after the SEC made a request to file for an Interlocutory Appeal, there was a significant decline in XRP prices as they dropped from $0.66 to $0.62 within one hour timeframe – showing a 2.44% decrease in value since then.. Jeremy Hogan also shared a screenshot depicting this drop in price whilst sarcastically stating „The SEC’s handiwork,“ implying that their supposed goal of protecting investors may be doing more harm than good here as they influence prices of digital assets like this without warning or explanation..
Ripple Has Little Influence Over Price Changes
Overall it seems that most people agree that changes in XRP price are highly correlated with what goes on at the SEC rather than what happens with Ripples own internal operations – seemingly undermining their own efforts at times when trying to maintain control over their network or keep up appearances with investors who rely heavily upon them for updates regarding progress etc… It’s clear that despite all their best intentions; ultimately it is out of Ripples hands when it comes to how external factors such as regulatory bodies affect prices directly – at least according to prominent legal professionals like Jeremy Hogan anyway!
Conclusion
In conclusion; although there is still much debate over whether or not certain regulations should apply to cryptocurrencies like Bitcoin and Ethereum (among others), one thing is certain: when it comes to influencing markets – especially those involving digital assets like tokens & coins-the power lies firmly within governments & regulators; not individual companies or organisations operating within these industries