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Last year in the month of December, the United States Securities and Exchange Commission (SEC) filed a lawsuit against the blockchain-based cross-border remittance payments giant Ripple Labs and Chief Executive Officer (CEO) Brad Garlinghouse and its former executive Chris Larsen. The agency accused the company of making $1.3 billion through the sale of unregistered securities.

The legal battle between two of these entities is ongoing. So far various developments regarding the case have occurred. Both parties have submitted various proposals to the court while sharing their concerns.

Recently, the holders of XRP, a digital currency Ripple has a major stake in, requested the court a seat on the table alongside both parties. That request has not yet been approved.

SEC Files Request To Dig Into XRP Transaction Data

Recently, the SEC filed a new request in the court. In it, the agency asked for additional recovery of XRP transactions.

The request was made on the 25th of May to Magistrate Judge Sarah Netburn in which Jorge Tenreiro, the attorney of the SEC requested the court to grant them the permission of conducting around six depositions.

SEC Attorney Moves to Withdraw From the Case

An attorney with the SEC, Dugan Bliss, is moving to withdraw himself from the case.

As per a report, the attorney has asked for the permission of the court to withdraw from this case. At the time of writing, the attorney has not gotten permission from the court.

Meanwhile, the blockchain payments company continues to progress in the market. Over the last few days, the company has made various partnerships as well.

Once the lawsuit was announced, most exchanges delisted XRP. While there are still several platforms that haven’t listed XRP, Bexplus analysts recently pointed out that when Ripple gets rid of the lawsuit, it may lead to an XRP price rise. This means that an opportunity to make money is coming. Taking this into account, Bexplus relisted XRP (Ripple). If you want to trade XRP with leverage, Bexplus is a good option.

How Does 100X Leveraged Trading Work?

Assume we use 1 BTC to open a long position when Bitcoin is trading at $10,000. Please note that with 100x leverage, 1 BTC can open a position worth 100 BTC.

One day later, the price of Bitcoin increases to $10,500.The profit will be ($10,500 – $10,000) * 100 BTC/$10,500 *100% = 4.76 BTC, making the ROI 476%.

Now, with Bexplus’ 100% deposit  bonus, our initial investment would be 2 BTC, and our realized profit made with these 2 BTC will be 9.52 BTC, and the ROI will also be doubled to 952%.

With leverage, it’s important to be vigilant, as returns can be outstanding, but liquidations are easier if the price moves on the opposite direction.

Why choose Bexplus?

Bexplus is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K traders around the world, including the USA, UK, Korea, etc. No KYC, no deposit fee: traders can receive the most attentive services, including 24/7 customer support.

Bexplus – Futures Trading Platform

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