04-02-2023, 05:43 AM
For those wondering, XRP is up 20% in the past week over 'speculation' when the CFTC
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/"> <img src="https://b.thumbs.redditmedia.com/-RxYx2Qv0IONq1guKZz65hQuM4qBz7fCcQ7ekOAx_4E.jpg" alt="For those wondering, XRP is up 20% in the past week over 'speculation' when the CFTC referred to a number of major tokens and coins as 'commodities'" title="For those wondering, XRP is up 20% in the past week over 'speculation' when the CFTC referred to a number of major tokens and coins as 'commodities'" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>We saw some hard pumping of XRP over the past few days, even when the entire rest of the market was falling. For those wondering, it is because speculators believe XRP will be deemed a commodity and (mostly) win the Ripple v. SEC case. This is because in the CFTC lawsuit against Binance, they referred to LTC,BTC,ETH, Tether, BUSD and other unnamed tokens as commodities. </p> <p><a href="https://preview.redd.it/ppac997j33ra1.png?width=1247&format=png&auto=webp&s=00b35a6d4f98e8b4379f8d66b392919da9cd41d9">Credit: u/zoomercoomer9000</a></p> <p>Thus, they expect XRP to get the same treatment.</p> <p>Of course, it's not that simply as the same way the SEC arbitrarily deemed XRP a security and now has to prove it in court, is the same way the CFTC 'arbitrarily' deems these tokens as securities, and if opposed would also have to prove it legally. Although, the only opposition to the CFTC would likely come from the SEC themselves and it'd be super entertaining to see two government agencies battling it out, although we already have our favourite.</p> <p>And then even for XRP isn't not that simple as XRP tokens were pre-mined and had ICO or iCO-like sales such makes them a bit different from most of the tokens mentions in the suit, though doesn't exactly clearly determine anything either.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/OneThatNoseOne"> /u/OneThatNoseOne </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/"> <img src="https://b.thumbs.redditmedia.com/-RxYx2Qv0IONq1guKZz65hQuM4qBz7fCcQ7ekOAx_4E.jpg" alt="For those wondering, XRP is up 20% in the past week over 'speculation' when the CFTC referred to a number of major tokens and coins as 'commodities'" title="For those wondering, XRP is up 20% in the past week over 'speculation' when the CFTC referred to a number of major tokens and coins as 'commodities'" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>We saw some hard pumping of XRP over the past few days, even when the entire rest of the market was falling. For those wondering, it is because speculators believe XRP will be deemed a commodity and (mostly) win the Ripple v. SEC case. This is because in the CFTC lawsuit against Binance, they referred to LTC,BTC,ETH, Tether, BUSD and other unnamed tokens as commodities. </p> <p><a href="https://preview.redd.it/ppac997j33ra1.png?width=1247&format=png&auto=webp&s=00b35a6d4f98e8b4379f8d66b392919da9cd41d9">Credit: u/zoomercoomer9000</a></p> <p>Thus, they expect XRP to get the same treatment.</p> <p>Of course, it's not that simply as the same way the SEC arbitrarily deemed XRP a security and now has to prove it in court, is the same way the CFTC 'arbitrarily' deems these tokens as securities, and if opposed would also have to prove it legally. Although, the only opposition to the CFTC would likely come from the SEC themselves and it'd be super entertaining to see two government agencies battling it out, although we already have our favourite.</p> <p>And then even for XRP isn't not that simple as XRP tokens were pre-mined and had ICO or iCO-like sales such makes them a bit different from most of the tokens mentions in the suit, though doesn't exactly clearly determine anything either.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/OneThatNoseOne"> /u/OneThatNoseOne </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/128n1f5/for_those_wondering_xrp_is_up_20_in_the_past_week/">[comments]</a></span> </td></tr></table>