The legal dispute between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC) has had a significant impact on the cryptocurrency industry. This case, which began in December 2020, has caused concern among investors who are eagerly awaiting a favorable outcome for Ripple and XRP.
Experts in the industry predict that for Ripple and XRP to reach the $1 milestone, a positive verdict is necessary. This could also have a positive effect on other cryptocurrencies like Big Eyes Coin and Solana.
Latest Developments in the Legal Battle Between Ripple and SEC
According to Egrag Crypto, a well-known figure in the world of cryptocurrency, XRP is poised to hit the $1 mark once again, provided it can break the Multi-Months-Trend Line. However, this is contingent on the coin successfully overcoming significant market resistance, which could prove challenging if XRP closes below 0.33 cents. Negative legal news could potentially cause selling pressure, making this outcome less likely.
What’s New?
The ongoing legal dispute between Ripple and the SEC continues, with the latter recently submitting a letter in support of its summary judgment motion. In the letter, the SEC references a previous case to strengthen its argument that the defendant’s fair notice defense should be dismissed. Ripple has been using the defense of fair notice, which states that the lack of clear regulations in the US cryptocurrency market should excuse their behavior. However, the SEC argues that this defense does not apply to civil cases like the one involving Ripple.
Big Eyes Coin’s Impressive Ascension
Big Eyes Coin (BIG) is a cat-themed Ethereum-based cryptocurrency project that has garnered attention from crypto enthusiasts. While other meme coin projects are already overvalued, BIG is currently on presale at its lowest price, presenting an opportunity for buyers to make significant profits once it launches. With the market sentiment turning favorable towards BIG and a potential win for Ripple in the ongoing SEC case, BIG holders could see a boost in their investment portfolio.
Moreover, BIG has introduced Big Eyes NFT Loot Box trading cards that users can collect, mint, and trade. These cards are now available on OpenSea, and each card can only be minted once per wallet address, which is likely to create greater demand for BIG and increase its value.
The presale of BIG is ending soon on June 3rd, and the BIG team has released the END300 code, offering token holders a 300% bonus on every $BIG purchase as an added incentive to invest in the project. This bonus offer is expected to further drive up the demand for BIG.
Solana Sees Uptick in Bullish Activity
Solana (SOL) prices have increased by 4.85% to reach $23.47, thanks to the bullish sentiment among investors. This comes at a time when the SEC and Ripple are engaged in a legal battle. If this trend continues, especially after XRP reaches the $1 mark, the SOL price may break through the downtrend line and trigger a potential rally to $27, and eventually to $39 for the SOL/USDT pair.
Solana has consistently focused on improving the user experience and has made significant progress in enhancing transaction speeds. By adopting eco-friendly technologies that consume less power and are environmentally sustainable, Solana has managed to improve its efficiency while reducing its environmental impact.
The Endgame
If XRP is classified as a security by the court, it could have far-reaching implications for the broader cryptocurrency market. The SEC could impose penalties on other projects, leading to greater regulatory oversight and scrutiny for alternative cryptocurrencies like Big Eyes Coin and Solana. This could result in stricter regulations and more extensive examination of these projects by regulators, potentially impacting their growth and development in the future.
Expect Big Rewards with Big Eyes Coin
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL