XRP Community Responds to Jim Cramers Revelation of Losing Ripple Case to SEC Chair

A popular video featuring CNBC’s “Mad Money” host Jim Cramer confronting SEC Chair Gary Gensler about the Ripple case has sparked a range of reactions within the XRP community.
In the viral video circulating among cryptocurrency enthusiasts, Cramer boldly tells Gensler that the SEC lost the XRP case.
“SEC Vs. Ripple Labs… You lost that one,” Cramer stated during a CNBC interview on June 5.
Although the SEC achieved some success in the legal battle, Cramer’s remarks imply that the outcome may not have been as desired by the regulatory body.
Well-known figures in the crypto world, such as Amelie and Abdullah “Abs” Nassif, the host of the Good Morning Crypto podcast, have shared a snippet of the interview on X.
Members of the XRP community have expressed a variety of reactions to the video going viral. While some praised Cramer for his direct comments, others interpreted his statement as potentially negative news for XRP holders.
Cramer, also known as “Inverse Cramer,” is a prominent personality in the crypto industry. His predictions often have an opposite effect to what he anticipates.
For example, after Cramer predicted a drop in the price of Bitcoin by saying “Mr. Bitcoin is about to go down,” the value of Bitcoin actually rose significantly.
Given Cramer’s track record of predictions not panning out as expected, key players in the crypto market recommend following the opposite of his advice. This trend has been adopted by investors, who humorously view Cramer’s bullish signals as sell indicators.
In light of Cramer’s recent comments to Gensler, XRP supporters are hopeful that Ripple will not face a defeat in the ongoing legal battle with the SEC.
The SEC vs. Ripple lawsuit is nearing its conclusion, with U.S. District Judge Analisa Torres having ruled on most aspects of the case through a summary judgment in July 2023, granting partial victories to both parties.
While the judge determined that institutional sales constituted investment contracts, she concluded that Ripple did not violate securities laws with its programmatic sales and other XRP distributions.
However, two critical issues remain unresolved in the lawsuit – the remedies litigation and Ripple’s motion to exclude Andrea Fox’s declaration. Both parties have submitted relevant motions and are awaiting the court’s decision, which could be delivered soon.
Disclaimer: This article provides information and should not be considered financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making investment decisions, as The Crypto Basic is not liable for any financial losses.