{"id":287116,"date":"2021-04-15T04:04:17","date_gmt":"2021-04-15T08:04:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=287116"},"modified":"2021-07-24T15:30:20","modified_gmt":"2021-07-24T19:30:20","slug":"ripple-cto-wants-hodlers-to-reduce-crypto-exposure-by-offloading-some","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-cto-wants-hodlers-to-reduce-crypto-exposure-by-offloading-some","title":{"rendered":"Ripple CTO Wants Hodlers To Reduce Crypto Exposure By Offloading Some"},"content":{"rendered":"
Ripple\u2019s Chief Technology Officer (CTO), David Schwartz, has urged cryptocurrency holders to consider selling some amounts of their cryptocurrencies to minimize risk. <\/span>Schwartz <\/span>sounded<\/span><\/a> the note of warning on Twitter.\u00a0<\/span><\/p>\n The remark by the CTO of Ripple, David Schwartz, that holders should sell part of their cryptocurrencies took many crypto holders by surprise.<\/span><\/p>\n Meanwhile, Schwartz clarified that his advice does not constitute a prediction of the cryptocurrency marketplace.\u00a0<\/span><\/p>\n He emphasizes that those with life-changing cryptocurrency volumes should consider selling part of it to minimize loss.\u00a0<\/span><\/p>\n This comes amid a bullish run for Ripple\u2019s token, XRP.\u00a0<\/span><\/p>\n XRP recorded a 30% surge in the past week.\u00a0<\/span><\/p>\n Simultaneously, several cryptocurrencies like Bitcoin, Ethereum, and meme-focused cryptocurrency Dogecoin recently recorded new All-Time Highs (ATHs), respectively.<\/span><\/p>\n He recounted how he adhered to his recent advice in the past. Schwartz revealed that he sold $42,000 worth of Ethereum before the cryptocurrency peaked in 2019 to purchase solar panels.<\/span><\/p>\n While he later regretted the action in his subsequent tweets, he insisted that one needs to convert part of his\/her personal gain into something stable, particularly when investing in volatile assets like cryptocurrency.<\/span><\/p>\n Given that Ripple\u2019s XRP is currently locking horns with the Securities and Exchange Commission (SEC) in a $1.3 billion lawsuit, analysts appear to be wary of Schwartz\u2019s statement.<\/span><\/p>\n The <\/span>SEC<\/span><\/a> alleges that Ripple Lab sold its XRP token as unregistered security from 2013 to 2018. Lately, however, the case has taken a new dimension in court.<\/span><\/p>\n Judge Sarah Netburn <\/span>pronounced<\/span><\/a> last week Friday that the SEC has no right to demand personal financial data belonging to Ripple\u2019s Brad Garlinghouse and Chris Larsen.<\/span><\/p>\n Based on the befitting judgment, Ripple filed a motion on April 12 asking the court to dismiss the SEC lawsuit in all its entirety.\u00a0<\/span><\/p>\n Reacting to the SEC’s earlier lawsuit, Ripple\u2019s CTO said <\/span>that all the evidence available shows no difference between XRP and Bitcoin.\u00a0<\/span><\/p>\n He maintains both the cryptocurrency market and Ripple see no difference between the cryptocurrencies; hence, there is no basis for considering it as a security.<\/span><\/p>\n He further assured XRP holders that there is no cause for alarm, stressing that the lawsuit will not lead to the end of the company’s operation.<\/span><\/p>\n Also, Schwartz asserts that the governing bodies do not have any legal right to control their ecosystem.\u00a0<\/span><\/p>\n Meanwhile, XRP has surged in recent days. At press time, it is trading at $1.73, according to <\/span>CoinMarketCap<\/span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Reduce Your Risk and Exposure<\/b><\/h2>\n
SEC Lawsuit Against Ripple Takes New Dimension<\/b><\/h2>\n