CNBC's Jim Cramer has stirred up the XRP community after stating that the Securities and Exchange Commission (SEC) may lose its ongoing case against Ripple Labs. The comment has sent shockwaves across the crypto industry, with many wondering if this is a turning point in what had seemed like a one-sided legal battle.
XRP has been on an upward trajectory in recent weeks as investors anticipated a favorable outcome for Ripple Labs in the SEC lawsuit. However, Cramer's statement has cast doubt on those expectations, leaving many concerned about what lies ahead for both Ripple and XRP holders.
The financial commentator made his remarks during his show 'Mad Money' on CNBC where he discussed the potential impact of Gary Gensler's appointment as chairman of the SEC. He suggested that Gensler might be more open to settling with Ripple than pursuing further litigation, which would be good news for the blockchain company.
Cramer's comments have caused concern among members of the XRP community who fear that any setback in court could have serious consequences for their investments. Some analysts are even calling it a "kiss of death" for both Ripple and XRP.
The ongoing lawsuit between SEC and Ripple revolves around whether or not XRP should be classified as security. The regulatory agency claims that it is, while Ripple argues otherwise. If found guilty, there could be significant implications not only for Ripple but also for other cryptocurrencies facing similar classification issues.
Despite these concerns, some members of the crypto community remain optimistic about a favorable outcome in favor of Ripple Labs. They believe that Cramer's comments are mere speculation and do not reflect reality.
Regardless of how things play out in court, it is clear that this case will have far-reaching implications on how regulators view cryptocurrencies going forward. It remains to be seen whether or not this latest development will be a turning point in the ongoing legal battle between Ripple and SEC.