Jim Cramer Says SEC 'May Not' Win Against Ripple & XRP

CNBC’s Mad Money host, Jim Cramer said in a recent segment that the SEC “may not win” against Ripple and XRP. Ripple’s native token XRP has been rallying hard this week and dropped 6% after Cramer’s video was shared online. Cramer said that the SEC could lose the lawsuit against Ripple but might take the upper hand in the Binance case.

Also Read: Are Existing Laws Enough To Regulate Crypto? SEC Chair Thinks So

“The SEC says, look they are creating securities day after day. In this Ripple case, they may not even win the Ripple case. But the Binance (lawsuit) is very different,” Cramer is heard saying in the new CNBC segment.

In December last year, Cramer tweeted positively about Binance saying, “Do you feel as reassured by Binance as I do?” CZ jokingly replied to Cramer to keep Binance out of his predictions. “Oh Jim, please don’t use Binance, for the sake of everyone else. Half joking,” he said. CZ was suggesting the ‘Inverse Cramer’ joke here that usually goes the opposite direction of what Cramer predicts in the market.

Three months later, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and CZ for fraudulent activities. You can read more details about the lawsuit here.

Also Read: Crypto Didn’t Play a Direct Role in Bank Failures: U.S. Treasury Official

Jim Cramer Says SEC May Lose Against Ripple & XRP

Ripple XRP
Source: TheCoinRepublic.com

Ripple advocate, John E Deaton retweeted the clip highlighting how Cramer’s words could mean the opposite becomes true. He pinpointed how XRP dropped in price previously after Cramer said that Ripple could win the case against the SEC.

“The very moment XRP’s price stopped moving upward and did a 180 turn was when Jim Cramer said Ripple might win,” tweeted Deaton. He added, “Jimmy Chill, can you go back to calling it a scam, please?”

Also Read: Cardano Adds 50,000 New Wallets in March Resulting in 4 Million Addresses Milestone

XRP investors called Cramer’s latest words a “kiss of death” to Ripple. Many others commented that it’s “game over” for Ripple as the Inverse Cramer effect could creep in.

Read here about the predictions given by Cramer, that went south in 2023.

  • jim cramer
  • Ripple
  • Ripple vs SEC
  • sec
  • xrp

Comments

Post a Comment

Popular posts from this blog

Dogecoin Price Prediction: DOGE Dips 7% As Investors Flock Its Rival PEPU Offering Last Chance To Buy Before Upcoming Tier-1 Exchange Listings

Image
The Dogecoin price dropped 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on trading volume that plunged 30% to $15.6 billion. Dogecoin Price On A Sustained Bullish Trend The Dogecoin price has been in a significant uptrend recently, with a sharp rise in mid-to-late October and into November. The trend is clear from the steep ascent in price of Dogecoin above both the 50-day (yellow line) and 200-day (red line) Simple Moving Averages (SMAs). This signals strong bullish momentum in the short to medium term, according to data from GeckoTerminal . Moreover, the Relative Strength Index (RSI) is currently around the mid-range, close to 54, which suggests that there is no immediate overbought or oversold condition. This level of RSI indicates a cooling off period after what was likely an overbought condition during the rapid price increase. The RSI cooling off while price remains high could indicate consolidation before the next move. If the Dogecoin price sustains th...
Read more

Tim Draper sets bitcoin target of $250k, DigiToads and Cardano poised to 100x

While US major investor Tim Draper believes bitcoin will hit $250,000, other analysts think DigiToads and Cardano are poised to grow by 100x. DigiToads investors anticipate value increase DigiToads’ presale success has made it one of the most sought-after cryptocurrencies. Crypto enthusiasts believe this cryptocurrency could grow by 100x once it launches, increasing the value of investors’ portfolios. The crypto project recently unveiled a collection of trending NFTs that allow users to make money from DigiToads’ platform to attract investors further. You might also like: DigiToads offer staking, burning, NFTs, and gaming; better drivers than Monero’s anonymity The NFT collection was unveiled despite TOADS still being in presale. This will make it easier for DigiToads’ value to grow by 100x when it launches. The NFT collection can be bought on OpenSea or minted at any time. Investors acquiring these trending NFTs can participate in NFT staking comp...
Read more

3 cryptocurrencies cheaper than a burger for a 2500% ROI by 2024

Image
As the cryptocurrency market continues to evolve and expand, investors are constantly on the lookout for undervalued assets with the potential for significant returns. While marquee tokens like Bitcoin and Ethereum dominate headlines, a multitude of lesser-known cryptocurrencies lurk beneath the surface, waiting to be discovered by astute investors.  Among these hidden gems are Retik Finance, Jupiter, and Ripple—three cryptocurrencies that offer compelling investment prospects and the promise of substantial growth in the coming years. In this article, we delve into the unique attributes of these tokens and explore their potential to deliver a 2500% ROI by 2024. Retik Finance (RETIK): Revolutionising Decentralised Finance (DeFi) Retik Finance (RETIK) emerges as a prominent contender in the realm of decentralised finance (DeFi), offering a comprehensive suite of financial services and solutions powered by blockchain technology. Unlike traditional financial institutions, R...
Read more