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Ripple (XRP/USD) and Cardano (ADA/USD) Daily Outlook

Ripple (XRP/USD) and Cardano (ADA/USD) Daily Outlook
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  • The famous Ripple vs SEC case is expected to be resolved around April this year
  • The Securities and Exchange Commission (SEC) took Jon M. Vive and five entities he controlled into court in September 2020, for selling $21 billion in cash stock and earning $61 billion, without registering as a stock trader.
  • SundaeSwap announced its decision to build DEX on Cardano, as it is faster and cheaper than alternative smart contract platforms.

Ripple (XRP/USD) Daily Forecast

the XRP / US Dollar The pair closed at $0.75314, after hitting a high of $0.7665, before turning green after dropping for two consecutive sessions.

The market slump pushed XRP/USD bearish after the US Securities and Exchange Commission took a surprise attack on the Ripple case by submitting a supplemental authorization letter to strike at Ripple’s fair notification defense.

The famous Ripple vs SEC case is expected to be resolved in April of this year. However, the Securities and Exchange Commission took a new step that left many wondering if previous expectations could change. For example, the regulator used a winning move from another case to hit Ripple’s main argument. The Securities and Exchange Commission brought Jon M. Vive and five entities he controlled to court in September 2020, selling them $21 billion in cash stock and earning $61 billion in profit, without registering as a security trader. The FIFE defense adopted a similar strategy to Ripple, claiming that the Securities and Exchange Commission did not give them a fair warning, and that the term “dealer” could be interpreted broadly. Last month, the court denied that argument.

In Ripple v. the Securities and Exchange Commission, Ripple’s fair notification defense alleges that the SEC failed to notify them of possible violations of federal securities laws and alleges that the term “investment contract” has been misused by the SEC, adding that the SEC theory The SEC XRP was an investment contract that was wrong in terms of facts, laws, and stocks. Now that the Securities and Exchange Commission has indicated the latest outcome of the FIFE case, Ripple’s expectations of winning the case have faded, affecting the XRP / US Dollar.

Cardano (ADA/USD) Daily Forecast

ADA/USD closed at $1.1692 after recording a high of $1.2050 and a low of $1.1480. ADA/USD fell for the third consecutive session on Sunday, amid the negative sentiment prevailing in the market. The decline in ADA/USD was driven by the latest announcement made by SundaeSwap Labs on Friday. Calling itself the best decentralized exchange on Cardano, SundaeSwap has told its community about some of the expected operational limitations and restrictions that the blockchain and DEX will showcase on opening day and in the first few weeks after launch.

Sundaewap says they decided to build the DEX on Cardano, as it is faster and cheaper than alternative smart contract platforms. It is also run by a non-profit organization, and regularly collaborates with high-ranking academic institutions. According to SundaeSwap, Cardano is more advanced and a better choice for future projects to build upon.

Meanwhile, the entire crypto market is facing pressure from the decline in the prices of leading cryptocurrencies, including BTC and ETH. ADA/USD also followed the negative mood prevailing in the market, and over the weekend, it fell further, to its lowest level since July 2021. Cardano has fallen since September 2021, which means that the value of ADA/USD has been steadily declining for the past five months. Since the launch of the Alonzo update in September 2021, the Cardano ecosystem has been under stress.

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