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XRP is a security? Social media welcomes another debate on the matter

Priyamvada Singh



XRP is a security? Social media welcomes another debate on the matter

Dr.T, a prominent member of the XRP community challenged Ari Paul in a Twitter thread about XRP not being a security. Here, Dr.T stated that XRP is not a security because the digital asset was created before Ripple. Furthermore, Ari Paul and a few others engaged in an intense argument on the subject. The original tweet by Dr.T stated:

“I just came across this. I noticed that @AriDavidPaul had liked the tweet as well. You’re aware of these facts I will let your followers know as well: XRP was created before Ripple, so it can’t be a security. Merry Christmas & Happy Holiday season Mike. “

Here, Paul replied by writing that Dr.T needs to be careful with giving “inaccurate” legal advice on the web as he could personally be held liable for it. He also stated that even if Ripple was created five years after XRP, XRP could still be a security. Furthermore, according to Howey Test, which is a test used by the Securities and Commission Exchange [SEC] to check if a digital asset is a security or not, the timing of Ripple incorporation is not an eligible determinant.

He continued to convey that many in the cryptocurrency space have been posting several screenshots of early Ripple PR, Twitter posts and website captures where they created XRP. By this, Paul negated the argument of XRP being born before Ripple. He then opined boldly, indicating that Ripple might have committed early fraud if the claims related to XRP being created before Ripple are true.

To this, ecent, another member of the XRP ecosystem joined the Twitter thread to voice his opinion. In his tweet, he brought the point of “XRP once being a security, but is not any more”. He wrote:

Disregarding for a second the clarity provided by other countries on this topic…Im curious whether the “XRP is a security” camp will be satisfied if the SEC were to say “XRP was once a security but now isn’t” or is blood the only thing that will satisfy those opposed to it?”

By now, the discussion had turned into a rebuttal session where it was Paul’s turn now. Here, he stated that the SEC enforces the regulations. At present, the definition of a security is defined by the 1933 and 1934 Securities Acts Legislation and interpreted by the courts. According to him, SEC’s opinion carries much weight and pragmatism at this hour.

ecent reverted to the above and wrote:

“Thanks but that wasn’t my question. Im curious if in your opinion the CT “XRP is a security” camp will be satisfied with “XRP was but is no longer a security” from the SEC. Will that be satisfactory to you / others in your opinion or will nothing short of criminal charges work?”

According to Paul, his interpretation of such a statement by the SEC will mean what it exactly communicates: a statement of intent by the SEC that is not likely to be prosecuted. He added that such a statement would probably support civil lawsuits.

In his next post, he stated that the key to winning the race is purely intellectual honesty and general clarity in the cryptocurrency space. In his words:

“I don’t like “gaslighting.” It’s up to regulators and judges to enforce laws and regulation as they will.”

On the contrary, ecent believes that intellectual honesty is important indeed. However, he opined that the “XRP is a security” argument is not an honest one, in intent or perspective. He also mentioned that according to the legal clarity established abroad as well as the attempts that are being made to frame regulatory infrastructure for cryptocurrencies, XRP is clearly not a security.

This statement by ecent took a deep hit when Ari Paul re-framed some of the points expressed by the former. Here, Paul questioned the stance of the US on XRP being a security. The tweet read:

“I don’t understand. Are you saying that XRP was a security, but you’re hoping that in other countries it’s not and/or that the US will change its laws to retroactively make the crime of selling an unregistered security not a crime? You’re saying XRP is a US security?”

The debate continued as both the parties stuck to their arguments. Many other members of the cryptocurrency space and XRP in specific joined and submitted their comments on the subject.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


76205|XRP/USD Price Analysis: Coin stagnates even after massive adoption news



Source: Pixabay

The third largest cryptocurrency, XRP, was moving sideways for almost two months, without any price surge or drop. The price was stuck between a support and a resistance, and it didn’t look like it will break out any time soon.

The price of XRP at press time was $0.3217, while the market cap was at $13 billion. The 24-hour trading volume was $801 million. A huge chunk of the trading volume for XRP was coming from ZBG exchange. It contributed a total of $92 million in trading volume, via the XRP/USDT trade pair.


Source: TradingView

The hourly chart for XRP showed an uptrend that extended from $0.3072 to $0.3187, while the downtrend extended from $0.3445 to $0.3257. The immediate support was at $0.31608, while the subsequent supports were at $0.3038 and $0.2928. The immediate resistance was at $0.3260.

The Bollinger Bands were undergoing a squeeze and indicated a reduction in the volatility of XRP. The price was dipping into the simple moving average, and indicated that the market was bearish.

The Stochastic RSI indicator showed a bearish scenario as well, but a stronger one when compared to the Bollinger Bands.


Source: TradingView

The one-day chart of XRP showed a downtrend that extended from $0.9027 to $0.3220. The price of XRP in the longer time frame showed the support at $0.2587. The resistance points for XRP were at $0.5836, $0.6880, and $0.9027.

The MACD indicator showed a declining uptrend i..e, the green Aroon line. The Aroon downtrend line was also reducing.

The Chaikin Money Flow indicator showed a subzero CMF line, which signified that money was flowing out of the XRP market.

The Relative Strength Index showed a stagnant RSI line at the 50-line, where the momentum of sellers and buyers were equal.


The one-hour chart showed bearish pressure for XRP incoming, as indicated by the Bollinger Bands and Stochastic RSI indicators. The CMF, Aroon and the Relative Strength indicator showed a bearish trend for XRP as well.

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76171|xRapid will not ‘flip the switch’ on XRP price, say prominent XRP community enthusiasts



xRapid will not 'flip the switch' on the price of XRP say prominent XRP community enthusiasts
Source: Pixabay

XRP, the cryptocurrency closely related with the company Ripple, has been at the center of speculation and arguments, with respect to xRapid and XRP’s price.

There have been a lot of accounts on Twitter promoting the fact that the price of XRP will rise and shoot to the moon, after banks and financial institutions start using xRapid for cross-border payments.

The most famous theory put out by people was the price of XRP hitting $589 by the end of 2018, which didn’t happen.

However, a recent conversation started by prominent XRP enthusiasts, has suggested that xRapid would not massively affect the price of XRP.

Nayer Malik [@sinjunsmyth], a Twitter user, stated,

“@galgitron @Hodor @jungleincxrp @C3_Nik …Guys what r ur thoughts on Bob Way’s view regarding X-Rapid usage not increasing the price in and of itself?”

In response, Galgitron [@galgitron], a prominent XRP enthusiast and a contributor to the XRP community, added that he had “been saying that all along.” In one of his blogs Galgitron stated,

“Sure, there may be some massive FOMO buy-in once banks announce they are starting to use xRapid, and that will send the monkey [price action] hundreds of feet into the air, but, only speculation creates parabolics..”

C3|Nik [@C3_Nik] acknowledged the above and replied,

“It was seen like blasphemy to say that xRapid would not move prices that much by itself (e.g. “not the flip-the-switch kind of event”). It is interesting that the people who spread that narrative and misled others still have so many followers. Selling dreams.”

A Twitter user, @Crypt_Megalodon, voiced his opinion, which was different from the others. He tweeted,

“Well when you consider the US money supply being 15 trillion alone, the XRP cap doesn’t worry me. If/when XRP becomes the standard world wide, inflation will be rapid with mass adoption. I agree, with years, but, the value can be prodigious! The cryptoloution has already started.”

Considering the price of XRP at press time was only $0.31, and that there were more than a couple of Ripple customers that had already started using xRapid for cross-border transactions, the increase in the price of XRP due to xRapid seemed highly unlikely.

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