A good number of financial moguls and crypto investors take their crypto evaluation referencing the real-time price tickers broadcasted by CNBC. However, the channel came under fire from Ripple Lab’s executive brass and other XRP holders after a recent blunder was noticed on the ticker board. It seems that the CNBC management decided to replace Ripple with XRP on the crypto price panel.
While this mistake might seem trivial to many but for Ripple investors, it is nothing less of a shock. Brad Garlinghouse, one of the Ripple executives, took to Twitter to point out this snarky error. This small yet important mix match can be attributed to the claims of Ripple management that have claimed time and again that XRP is an independent cryptocurrency from Ripple Labs.
Ripple Labs Native Token Gains a Glaring Appreciation after Scoring a Monumental Success
The presiding judge has barred the SEC from getting access to the legal advice provided by the lawyers to the Ripple executives. SEC has filed a $1.3 billion case on Ripple Labs executive Chris Larson and Brad Garlinghouse. After the case was launched, the value of XRP fell from hundreds to fractions. Many crypto exchange platforms also delisted it to avoid getting the heat from SEC.
SEC is prosecuting the Ripple Labs executives under the pretense that the enterprise representatives conducted business with unregistered securities. SEC focused on claiming that their lawyers advised ripple leadership about the illegal status, and they knowingly proceeded to conduct the violate Section 5 of Securities Act. The main goal of the SEC was to get access to legal advice. However, the court denied this motion under the context of client-attorney confidentially.
XRP is Soaring but still Traveling Backward on the Crypto Leader Board
While XRP that has been gunning to be restored to its former glory has been struggling in the court, a slew of small but important legal victories continues to grant it some relief. After Coinbase became a publically listed company, it relisted XRP once again. Meanwhile, others like Binance and Huobi have been offering XRP for a long time.
At present, XRP is trading at $0.9 at the edge of getting its 1 USD evaluation. However, at the time, the crypto leader board is being dominated by Cardano that has overtaken both Binance and Dogecoin. If the SEC decides to fold the lawsuit, there are chances that the altcoin might get a two-digit evaluation and manage to spark more interest from the crypto investors.