The year 2023 is turning out to be the year when Ripple will finally be able to register its victory against the US Securities and Exchanges Commission.
The battle has been going on between both sides for a long time as none of them wanted to face the $1.3 billion charges from the lawsuit.
It is commendable that both sides have been fighting with each other to win the case against the other party. However, there is a very high possibility that Ripple may prevail in the end.
That end is going to be in the year 2023 and there is a chance that Gensler will be stepping down from the US SEC in the same year.
Gary Gensler is currently the chair at the US SEC. He has come under a lot of pressure lately due to the major crashes taking place in the crypto industry.
Given the fact that the US SEC has not been able to deal with the crypto market crisis well, Gensler may step down as the US SEC’s chairman.
These predictions have been made by BitBoy Crypto through his YouTube channel. BitBoy Crypto is the pseudonym adopted by Ben Armstrong for his YouTube channel.
He has been very open about his predictions and claims that they will indeed come true in the year 2023. The entire cryptocurrency industry, especially the XRP community is excited by his latest predictions.
Ripple Will Win against SEC in 2023
Ripple has been trying its best to clear its name of the allegations made by the US SEC over two years back. The feud between the US SEC and Ripple began in December 2020 when the regulator took it to court.
The blockchain company was accused of selling unregistered securities (XRP) to the US locals. According to the regulator, the native token issued by the blockchain company was a security.
If it is a security, it has to be authorized by the SEC before it can be marketed and sold to US investors. However, Ripple claimed it was not the case at all and that XRP was not a security.
To this day, things have not been settled between the two entities but it seems that the US court will decide in favor of Ripple.
According to the reports, it is Ripple that has provided more evidence and information in its defense. On the other hand, the SEC has to continue asking for extensions in the case to come up with more information.
Therefore, it is a win, win situation for Ripple and the entire crypto community has already started to celebrate the firm’s victory.
BitBoy Crypto has predicted that Ripple is going to win the lawsuit against the US SEC.
Despite the claims, the regulator has not been able to come up with much evidence against Ripple to prove it sold unregistered XRP to the US locals.
Once Ripple wins the case, the curse will be broken for XRP and its trading price will succeed in growing bigger. It will finally move to the higher levels it was destined to hit alongside another crypto back in 2021.
Gary Gensler’s Removal from SEC
From the beginning of 2022 until now, Gary Gensler has been under a lot of pressure from the US senate and congressmen for failing the US SEC.
He has been criticized for failing to deal with matters involving the cryptocurrency industry. This is the reason why there is still there is a great lack of clarity when it comes to cryptocurrencies.
Several concerns have been raised within the cryptocurrency industry due to the treatment of ETH by the regulator.
Many within the crypto industry including Ripple executives claimed that Ether was favored by the securities watchdog.
Many claim that Ethereum was behind the entire matter where the US SEC went after Ripple, causing a problem for the XRP tokens.
As per Armstrong, the entire matter has been put over Gensler’s shoulders although he was not part of the US SEC back in 2020. He has predicted that Gensler will soon leave the US SEC as the chair.
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