The legal battle between the United States Securities and Exchange Commission (SEC) and Ripple has witnessed a new development, with the crypto firm rejecting the Commission’s proposed final judgment. This is expected to prolong the lawsuit that has been going on since December 2020.
Meanwhile, for XRP holders, this news is significant considering the negative impact it could have on XRP’s price. However, XRP holders are already running out of patience. They are losing hope in the cryptocurrency due to its unimpressive price action coupled with the legal battle that is affecting its ecosystem. As a result, these token holders are looking to rotate their capital to a more promising project like ETFSwap (ETFS).
Ripple Proposes An Alternative Judgment To The SEC
In a court document filed on April 22, Ripple proposed that the court award a civil penalty of not more than $10 Million against them to the US SEC. They believe this is enough remedy for their violation of securities laws since they had no ill intent, and neither did the SEC allege any fraud or manipulation carried out by them.
Ripple’s proposed judgment is far off from the almost $2 Billion fine the SEC had proposed to be ordered against the crypto company. This fine includes a prejudgment interest of $198,150,940 and a disgorgement of $876,308,712, the amount the SEC alleges Ripple made from its violation of the Securities Act.
However, Ripple believes that the prejudgement interest and disgorgement are unwarranted and that judgment should be streamlined to the civil penalty, which they propose shouldn’t be more than $10 Million. With such disparity in their respective proposed judgments, an appeal can be expected from the disgruntled party once the court gives its judgment later this year.
An appeal will further extend the legal battle, which has already lasted almost four years. A potential prolongment of the case is significant, especially considering crypto analyst JackTheRippler’s prediction that XRP will rise to $100 once the case is over.
An appeal means that XRP holders might have to wait a little longer before they can enjoy a well-overdue return on their XRP investments. However, there is also assurance that XRP will make such a price gain when the case ends. Moreover, XRP failed to make extraordinary gains even when it achieved regulatory clarity after Judge Analisa Torres ruled that it wasn’t a security.
XRP Holders Are Turning To ETFSwap (ETFS) As A Promising Alternative
XRP holders are starting to cut the losses on their XRP investments and are moving to a more promising ecosystem in ETFSwap (ETFS). ETFSwap (ETFS) has already shown a lot of potential and is currently going head-to-head with the best-performing crypto assets of 2024.
The crypto token’s performance is in stark contrast to that of the XRP token, which has declined by over 11% since the start of the year. Interestingly, the XRP investors who have already rotated their capital to ETFSwap (ETFS) have already testified how their portfolio has grown massively in a very short period.
Another factor that has convinced these crypto investors that ETFSwap (ETFS) is the best investment decision is its tokenomics. 40% of ETFSwap’s (ETFS) supply has been allocated to its public sale, which means that the community will hold most of the tokens in circulation.
They consider this a big deal, considering they are coming from the XRP ecosystem, where most of the token’s supply is held by Ripple. This has even led to rumors that Ripple might be deliberately manipulating the crypto token and holding it back from experiencing significant price surges.
While those are just rumors, crypto investors can be assured that no one is dumping on them in the ETFSwap (ETFS) ecosystem. So far, crypto investors have accumulated over 40 million tokens from the ongoing stage 1 of the ETFSwap (ETFS) presale, and this figure is rising rapidly.
That is why anyone who has yet to invest has to act fast and purchase these tokens, which are sold at a giveaway price of $0.00854 each in this presale stage.
For more information about the ETFS Presale:
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