One big reason why XRP could rally this year is that Ripple Labs–the developers of XRP–appear poised to win the SEC lawsuit they’re embroiled in. Recently, the SEC sued Ripple, alleging that it had done an illegal securities registration by selling XRP tokens to the public. Since the lawsuit began, Ripple has racked up win after win, including:

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  • Finding records of an SEC official saying that cryptocurrencies aren’t securities
  • Getting that testimony approved for discovery
  • Thwarting numerous delay tactics by the SEC

Collectively, these little victories indicate that Ripple will be free to use all of the evidence it hopes to use in court. That’s important because some of it is truly damaging to the SEC. The quote by the SEC official saying that cryptocurrencies aren’t securities is particularly helpful to Ripple, because it’s someone from the other side confirming exactly what Ripple is saying.

Additionally, there is perhaps some reason for optimism that the judge is sympathetic to Ripple’s case. She has granted Ripple many of the motions it hoped to have passed, and that could indicate a favourable ruling to come if this thing goes all the way to trial.

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How that could benefit XRP

A victory by Ripple Labs in the SEC lawsuit would most likely be bullish for XRP. First of all, it would create positive publicity that could generate interest in XRP on its own. Second, it would improve XRP’s actual use case in the market.

Although cryptocurrencies are decentralized in and of themselves, they do depend on their sponsor organizations for things like:

  • Blockchain upgrades
  • Proprietary technologies like RippleNet
  • Generating publicity
  • And more

If Ripple wins its lawsuit then it will be free to focus on doing these kinds of tasks for the XRP community. That in turn could drive positive momentum in Ripple’s price. Free from the burden of registering all future XRP tokens with the SEC, Ripple Labs will have more free time to recruit vendors for its payment network, develop the blockchain, and more. With this support, XRP will be able to truly thrive. Were the SEC to win, that might not be the case, as Ripple Labs would be weighed down with regulatory and financial burdens.

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Seven Practical Steps to Increase Cyber Resilience

CTIX urges organizations to implement the following hardening techniques:

  • Ensure that their incident response plan and playbooks are up to date and ready for execution
  • Bolster threat intelligence capabilities to ensure awareness of this dynamic situation
  • Harden internet-facing servers and applications
  • Review all third-party vendors and their permitted privileges
  • Monitor email traffic for phishing links and malicious documents
  • Institute multi-factor authentication (MFA) on all user accounts enterprise-wide
  • Ensure backups are present and working in the case of data wiping attack