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Ripple is challenging the SEC penalties for the XRP case. They claim that they followed the law. SEC’s demands They are too many. The legal experts have different timelines, some expecting a solution in the next few months while others predict it will continue until next year.
David Schwartz (CTO of Ripple) recently spoke about his loyalty to Ripple, regretting going with stock instead of XRP. Chris Larsen recruited him because of his Ripple loyalty. Schwartz clarified his loyalty to Ripple and not Larsen.
He said that he would leave his job when he stopped enjoying it. He owns a lot of Ripple shares, but wishes he had chosen XRP. He has now highlighted Ripples’ story in anticipation of IPO.
Ripple CTO’s perspective and community speculation
David Schwartz has revealed that the Ripple shares and XRP are different in terms of liquidity. This is as Ripple prepares for an IPO. Schwartz pointed out that XRP has superior liquidity compared with privately-held company shares. This has sparked a discussion within the XRP Community about Schwartz’s potential holdings of stock and what an IPO would mean for his portfolio.
XRP’s price rose to $3.84 per unit in 2018, but it also experienced significant drops due to the market volatility and SEC legal challenges. Despite its setbacks it still ranks among the top ten cryptocurrencies; David Schwartz is confident about XRP’s potential on a long-term basis. Analysts have different predictions for its future.
Click here to read more Ripple’s CTO touts 1500% growth in seven years
Schwartz IPO Plans and Future Outlook
The CTO of Ripple is considering selling stock, as soon his options will expire. The expiration of his options could lead to high taxes. Ripple has put on hold its plans to launch an IPO within the U.S. due to a dispute with SEC. Despite this delay, Brad Garlinghouse, the CEO of Ripple, remains optimistic, as Ripple is valued at over $11 billion, and there are ongoing discussions with investors.
Prices of XRP
Price of XRP Ripple has increased its share by 6% as a result of the SEC’s submission in court. Ripple asked the court not to consider the SEC’s latest expert reports because they had been submitted late and included important financial information. James Filan, a defense lawyer, spoke about it, which led to XRP’s price going over $0.55 and XRP’s weekly gain exceeding 10%.
Click here to read more Ripple Labs fights back against SEC’s “Surprise Witness”
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Elena R.
Elena has a wealth of experience in the cryptocurrency industry, particularly in risk management and technical analysis. She is a journalist with 10+ years of experience.