As we begin the first week of November, you might have noticed amicus briefs appearing more rapidly. New information hit the Twitter highway earlier today, with Coinbase requesting permission to enter an amicus brief on behalf of Ripple! As some of you might remember, earlier in the year, the SEC went after Coinbase for listing tokens that they labeled securities.
The problem is that the SEC hasn’t given clarity regarding securities within the crypto market. This is still a very new market with projects up and coming. Some of the investors on Twitter have asked if Coinbase’s request to enter an amicus brief on behalf of Ripple means that Ripple will win the case.
The answer is !!! Who knows! We have to play the waiting game! I know that might not be the answer some of you want to hear, but it is the only answer that makes sense. The SEC has played a great game at stalling, and I’m willing to bet they will continue to stall until they can no longer hold on. Great lawyers are working on this stuff, so calm down and go with the flow!
If you are nervous about what the future holds for XRP, talk to your financial advisors about the crypto market. Perhaps, it is good that some of the larger brokerages are teaming up with crypto. These brokerages will be able to give more information about the tokens and how to join in on the fun. Some of the brokerages include Blackrock, Charles Schwab, and Robinhood.
If there’s one thing I have learned about crypto, it is the need to be patient. One must block out the maybe price quotas and predictions regarding movement. As I stated before, trying to predict movement or price can set you up for a fall. XRP has great tokenomics, but does that mean we will see ETH prices or Bitcoin prices? The answer could be no, a hard no! However, there’s no way of knowing what this token can do until it is free to achieve its function without interference from the SEC.
At the end of the day, we want to see $XRP thrive in an atmosphere without manipulation. Truth be told, we want the crypto market to thrive as a whole! Most importantly, we do not want to see the SEC throwing cases at any given token due to them not understanding how crypto works. The SEC is entirely too dated for overseeing crypto. Until we can get some solid degrees focusing on the crypto market, we must protect the industry from those who seek to hinder it.
As always, I am not a financial advisor.