Big Eyes Coin (BIG), a cat-themed meme coin, on Tuesday surpassed $20.50 million in its presale, which has entered Stage 10. In another important development on Tuesday, Ripple (XRP) welcomed its new president ahead of the verdict of its case against the Securities and Exchange Commission (SEC).
Big Eyes Coin’s Presale Enter Stage 10
Stage 10 of presale is in full swing for Big Eyes Coin, which has already raised more than $20 million. The unprecedented interest in the cat-themed meme coin has left industry experts in awe.
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Time Still Left to Max Out
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XRP Welcomes New President
In another development, Monica Long, a long-time employee, took the reins of Ripple coin as the new president. However, the important development didn’t have much impact on the coin’s valuation as it dropped 3% or $0.400093 in the past 24 hours.
Ripple’s current price shows a 15% gain in the last 30 days and it is 0.5% higher than the previous week’s valuation.
New President: Experts Have Mixed Views
The appointment of the new president has come at a time when Ripple is expecting a decision in its case against the SEC.
Amid speculations that Ripple’s case might go to a full jury, the appointment of Monica Long as the new president fans some optimism for Ripple.
Will this development have a ripple effect on the coin in the market? Only time has the answer to this riddle. However, experts have mixed opinions about the possible outcomes of the development for Ripple.
Many believe that Ripple has a strong case and it will come out as a winner but others see SEC having the last laugh and the case could be going to a full jury trial.
Ripple CEO Brad Garlinghouse recently told CNBC that the case was close to its eventual end and it might be decided by the first half of 2023 or by the end of the year.
Cautious Investors Await the Verdict
Despite the show of optimism by Ripple’s top brass, traders are keenly observing the developments related to the case. This could be one of the major reasons why Ripple couldn’t get the best out of the news regarding the installation of the new president in the last few sessions.
If Judge Torres decides to take the case to a full trial, things will become shaky for Ripple in the market because the longer the case will be dragged, the bigger its impact would be. This could lead Ripple to a substantial loss in the coming months.
Doing the Math for Ripple
Many holders have been calculating the possible outcomes in Ripple’s case. Some believe a positive judgment would immediately take Ripple’s valuation to around $1.30. Many of them see Ripple in the region of $10 in the longer run, which would be a 2400% jump from its current price.
The Latest in XRP-SEC Case in NY Federal Court
The Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs Inc. and two of its executives for conducting an unregistered securities offering of XRP tokens is ongoing. The case is being heard in a New York federal court and both parties have submitted their arguments. The outcome of the case will likely have a significant impact on the cryptocurrency industry, as it will clarify the regulatory status of XRP and other digital assets. The federal court is expected to announce its verdict soon.
Find Out More About Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
