A video of Jim Cramer from CNBC’s “Mad Money” show confronting SEC Chair Gary Gensler about the Ripple case has sparked a variety of reactions from the XRP community.
In the widely circulated video among crypto enthusiasts, Cramer directly told Gensler that the SEC had lost the case against Ripple.
“The SEC Vs. Ripple Labs… You lost that one,” Cramer boldly stated during an interview on CNBC on June 5th.
While the SEC did achieve some success in the lawsuit, Cramer’s remarks imply that the outcome may not have been as desired by the SEC.
Well-known figures in the crypto world, such as Amelie and Abdullah “Abs” Nassif, the host of the Good Morning Crypto podcast, have shared snippets of the interview on X.
The XRP community has shown a range of reactions since the video went viral. Some supporters of XRP commended Cramer for his outspoken comments, while others viewed his statement as potentially negative news for XRP holders.
Cramer, also known as “Inverse Cramer,” is a significant personality in the crypto space due to his predictions often having the opposite effect. For example, after Cramer predicted a decline in Bitcoin, the price actually rose significantly.
Given Cramer’s track record, many top crypto stakeholders advise investors to do the opposite of what he recommends. This advice has become somewhat of a trend, with investors jokingly interpreting Cramer’s bullish signals as sell signals.
In light of Cramer’s recent exchange with Gensler, XRP enthusiasts are hopeful that Ripple will not face defeat against the SEC.
As the SEC v. Ripple case nears its conclusion, Judge Analisa Torres has already made key decisions through a summary judgment issued in July 2023, granting partial victories to both parties. While institutional sales were deemed as investment contracts, Ripple was found not to have violated securities laws through its XRP distributions.
There are still two important aspects of the case pending resolution – the remedies litigation and Ripple’s motion to exclude Andrea Fox’s declaration. Both parties have submitted their motions and await the court’s decision.
Disclaimer: This article serves as informational content and should not be taken as financial advice. The opinions expressed are those of the author and not necessarily of The Crypto Basic. Readers are advised to conduct thorough research before making investment decisions, as The Crypto Basic is not liable for any financial losses.
