Big Problems for ripple (XRP)? Jim Cramer Tells Gensler The SEC Is Already Lost
TL;DR
- Jim Cramer sparked mixed reactions for his past inaccurate crypto predictions when he claimed the SEC had lost its case against Ripple.
- The litigation began in December 2020 over unregistered securities claims, and the company won a partial court victory in 2023, potentially impacting XRP’s price volatility.
Earlier this week, popular American TV star Jim Cramer participated in a discussion with US SEC Chairman Gary Gensler. They touched on a number of topics, including the ongoing legal battle between the regulator and Ripple.
According to Cramer, the agency has already lost the case. His comments went viral on social media platforms like X and sparked controversial discussions among the XRP army.
Some saw Cramer’s stance as a positive sign that Ripple will emerge victorious from the lawsuit. However, many others reminded me About the wrong crypto predictions in the past, which means the opposite scenario could happen.
Cramer in December 2022 It has been recommended We demand that individuals cash out their “crappy” crypto positions, arguing that it is never too late to exit the ecosystem. Recall that BTC has exploded by over 300% since then.
On another occasion, in early 2022, hey envisioned The end of the market correction that prevailed at the time suggests that people should increase their exposure to digital assets. Those who have been following the sector for the last few years should know that 2022 will be devastating for the sector and will witness serious disasters such as the Terra accident and earthquake. FTX meltdown.
In 2023, the market saw the establishment of an exchange-traded fund that bet against Cramer’s tips. Numerous X users stated: product, hope a win for SEC habit Follow your claims. It is worth noting that ETF. closed and was liquidated at the beginning of this year.
How’s the case going?
pass legal It started in December 2020, when the SEC accused Ripple and some of its executives of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case witnessed numerous developments in the following years and reached trial in April 2024.
Some argue that the watchdog is the underdog due to Ripple’s three partial court wins throughout 2023. price of XRP reacted positively After each victory, this means that increased volatility may arise again after the final decision of the case.
For those interested in learning more about the details of the case and its potential impact on the value of the asset, feel free to check out our exclusive video below:
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