Is XRP Really a Security? Top Lawyers Clash in Fierce Debate
The post Is XRP Really a Security? Top Lawyers Clash in Fierce Debate appeared first on Coinpedia Fintech News
As the Ripple lawsuit nears its conclusion, a burning question ignites the conversation among legal experts: Is XRP a security? In a recent debate, Australian lawyer Bill Morgan throws fuel on the fire, mentioning XRP burns to challenge the notion that all XRP-related transactions are securities. But what was the counter-argument?
Marc Fagel: A Former SEC Lawyer Weighs In
Marc Fagel, a former SEC lawyer, joined the conversation, firing off a response to Morgan’s statement. According to Fagel, for liability to be found, the ‘instrument’ in question must be a security based on its offer and sale. The debate heats up – how does the Securities Act fit into this picture?
Does the Securities Act Hold the Key?
Fagel points to Section 5 of the Securities Act, which mandates the registration of a security sale. But Attorney Morgan was quick to rebut, arguing that the ‘instrument’ on a native Layer-1 (L1) blockchain, like the XRP Ledger, bears no relation to investing. What does this mean for L1 crypto assets?
Morgan maintains that L1 crypto assets primarily serve to pay transaction fees or reward network validators. These assets, he argues, aren’t necessarily offered by issuers – a fact that challenges the SEC’s stance. But the plot thickens – what about XRP’s utility?
The Utility of XRP: A Hotly Contested Issue
Despite the SEC acknowledging the utility aspect of XRP in the ongoing Ripple lawsuit, it still argued that XRP utility is limited. Morgan, however, presents a personal anecdote about using XRP to purchase a cap – a transaction that resulted in a minor ‘burn’ of XRP. But what exactly is this ‘burn’ and how does it relate to the security debate?
Following his purchase, Morgan revealed that a fraction of the XRP he used was ‘burned’. He insists that such a minuscule amount of burned XRP – less than a cent – could hardly be considered a security. How does this tie into the broader XRP ecosystem?
The XRP Ledger Burn Mechanism: A Security Deterrent?
The XRP Ledger operates a burn mechanism, burning all XRP gathered as fees. This mechanism wasn’t established to boost XRP’s price via scarcity but to combat spam transactions and maintain network security. As the debate simmers, one question remains: Will this be enough to tilt the scales in Ripple’s favor?
As we watch the ripple effects of this debate, one thing is clear – the Ripple lawsuit’s conclusion will shape the crypto landscape for years to come.
Also Read – Ripple News: XRP Takes the Lead, Surpasses Bitcoin by a Stunning 30%
Ripple News: XRP Takes the Lead, Surpasses Bitcoin by a Stunning 30%
In the shifting landscape of digital currencies, Ripple’s XRP is currently outshining Bitcoin with an impressive growth trajectory, surging nearly 30% against the crypto world’s firstborn. XRP has resilience amidst a tough market downturn and has the potential for an unprecedented rally against Bitcoin.
XRP: The Unscathed Champion in a Bleak Market
While Bitcoin has borne the brunt of a falling crypto market, XRP has shown remarkable resistance to this downward spiral. The latter has not only held its ground but emerged stronger, exhibiting a 30% gain against Bitcoin over the past few weeks. Surpassing key resistance points, XRP appears primed for a formidable rally, a testament to its ever-growing robustness amidst a challenging market.
Dark Defender, a veteran crypto analyst, recently underscored XRP’s bullish trend, noting that the cryptocurrency had successfully navigated through two significant resistance points against Bitcoin, setting the stage for a possibly game-changing rally.
XRP has cleared 2 #significant resistances at #XRP/#BTC Pair.
We expected a reversal last time and had a bullish monthly candle close in May.
We will see extreme XRP appreciation against BTC very soon.
Examples:
BTC –appreciates to 30k–> XRP appreciates $1.44
BTC… pic.twitter.com/B1ILhOWDZn— Dark Defender (@DefendDark) June 1, 2023
Breaking the Chains of a Long-Term Downtrend
A historical analysis reveals that XRP has been entangled in a downward trendline since May 2017 after plunging from an all-time high of 0.0002401. Fast forward to September 2022, XRP managed to break free from this downward trajectory but continued to grapple with a formidable resistance point. However, a shift occurred last month, with XRP breaking this critical resistance and surging ahead of Bitcoin.
“Extreme XRP appreciation against BTC is imminent,” predicts Dark Defender, painting a scenario where Bitcoin rebounds to the $30K mark. The expert believes that in this context, XRP could surge to a 2-year high of $1.44, surpassing Bitcoin in terms of percentage gains. The potential for XRP to maintain its value, even if Bitcoin falls to $10K, further underscores its resilience.
Looking Back: The Historical Significance of 2017
The current scenario echoes the year 2017 when XRP shattered a similar resistance point and outshone Bitcoin by a whopping 605% within two months. Given this history, many analysts are hopeful of a repeat performance that could propel XRP to new record highs.
Cryptic Poet, a well-known crypto trader, corroborates this bullish outlook for XRP. Pointing to the fact that XRP has outpaced Bitcoin by 30% in the past month, the trader highlights the increasing dominance of XRP in the crypto market.
Supporting this, another crypto analyst, Ryan, pointed out XRP’s strong resistance against market bears compared to Bitcoin since March 2021. Interestingly, while Bitcoin’s value has plummeted by 55% over the last two years, XRP has held its ground, maintaining around the $0.50 mark.
If someone told you in March 2021 when $BTC was $60,000 and $XRP was $0.50.
That in 2023, Bitcoin will be $27,000 and XRP would still be $0.50.
Would you have believed them?
— Crypto Ryan (@CryptoRyan17) May 31, 2023
Signs of an Imminent Rally
The surge in XRP’s daily active addresses on May 28 and May 29 hints at its growing popularity. As of this writing, XRP is trading at $0.5253, up 1.12% in the past 24 hours, while Bitcoin lags behind at $27,175, posting a 0.10% gain during the same period.
And as the saying goes, ‘History tends to repeat itself,’ the crypto community eagerly anticipates if XRP will once again mirror its 2017 triumph.
Can It Surpass The 2024 Price Predictions of XRP And Lido DAO?
The cryptocurrency market has witnessed numerous presale events that have captivated investors with their potential for exponential growth. In recent times, Uwerx has added itself to that list, riding the wave of success alongside XRP (XRP) and Lido DAO (LDO).
The presale for Uwerx is nothing short of a success, generating excitement and anticipation within the crypto community. This article dives into the reasons behind the remarkable surge of Uwerx.
Uwerx (WERX) Open the Doors to Decentralized Freelancing
Uwerx will be a decentralized freelance project that aims to transform the gig industry through blockchain technology. It will provide a fair and transparent freelance market that connects independent contractors to an extensive network of clients searching for capable professionals. Thanks to the project’s Alpha version, users will be granted a preview of the transformative potential that Uwerx holds for its community.
The platform’s landing page and sign-up/sign-in pages are scheduled to be released first on the 19th of May, 2023. The Beta version and other additional features will be released weekly or bi-weekly, allowing for a steady and captivating progression. While this exercise is ongoing, the platform will be open to comments and reviews from all its users.
In a short while, the project has attracted 5000 sign-ups through its successful presale. These numbers are a strong indicator of the project’s overwhelming potential.
Uwerx has made its community user-centric by conducting polls. The first poll asked the community to vote on a test airdrop. An astonishing 98.2% of the community voted in favour of a test airdrop. The team was thrilled by the overwhelming feedback and response received, and to ensure a seamless user experience, they will utilize the airdrop to verify the accuracy of users’ wallet addresses.
During the second poll, the community was asked if they wanted the team to lock their tokens now or after the presale, to which 82.8% voted in favour of locking the tokens now. To avoid any rug pulls in the future, the developers decided to enter a 25-year liquidity lock with their 7% token allocation. The team will announce a lock date very soon.
Uwerx has already gotten audit permissions from SolidProof and InterFi in its journey toward safety, security, and transparency project. Uwerx has launched the Uwerx Vault, where users can store their tokens for a preferred duration. It works like staking and will be rewarding investors who use it.
You can purchase a Uwerx token for as low as $0.0225 and enjoy a 20% purchase bonus. However, we strongly recommend acting swiftly, as prices are poised to rise, and bonuses will reduce soon. Analysts say Uwerx might hit $1.27 by Q4 2023 and $2.002 by Q2 2024.
Lido DAO (LDO) Increases in Profit
Lido DAO (LDO) is a decentralized project that assists Proof-of-Stake cryptocurrencies with liquid staking protocols. It distributes governing right through its native token, LDO, to its users. The users can then vote on the network according to their stakes.
Lido DAO (LDO) has been on an upward trajectory. The token increased by 1.87% in the last 24 hours. It also saw a 17.60% increase over the past week. Currently priced at $2.23, Lido DAO (LDO) boasts a substantial market cap of $1.9 billion. This is evidence of its growing prominence in the crypto market.
Lido DAO (LDO) is performing outstandingly in the global cryptocurrency market and might see a further increase in the coming days.
Lido DAO (LDO) has a flexible voting mechanism. Its voting mechanism can be upgraded and adjusted while maintaining its independence from other protocols on the blockchain.
XRP (XRP) Still Has Some Bullish Steam
XRP’s (XRP) current trading price is $0.44. It increased by 5.54% in the past 24 hours. Over the seven days, XRP (XRP) has witnessed a commendable increase of 4.60%, propelling its market cap to an impressive $23 billion.
The project enjoys substantial support from the community, with over 83% expressing bullish sentiments, envisioning XRP’s price to reach $0.49 in the coming week. XRP (XRP) aims to revolutionize global payments, enabling faster and more cost-effective transactions worldwide.
The project’s ledger can confirm transactions in under five seconds. XRP tokens can be obtained on centralized and decentralized exchanges. A key feature of XRP (XRP) is its quick remittance and low transaction fees. It can confirm transactions in under five seconds.
While XRP (XRP) and Lido DAO (LDO) enjoy popularity, analysts also identify opportunities in projects like Uwerx. Uwerx aims to create a platform that serves clients and enriches freelancers and investors. Become a part of this project today and enjoy the 20% bonus while the offer lasts.
Key segments of the Alpha Version are already live, with the highly anticipated Beta version soon to be rolled out. This is an invitation to witness firsthand the transformative potential of Uwerx, and not just witness, but partake in it.
However, this window of opportunity won’t stay open forever. The value of WERX is forecasted to surge from $0.0315 to $0.041 on Friday, 2nd June at 15:00 UTC. This imminent price adjustment is a clear signal of the company’s upward trajectory.
Additionally, the current 20% bonus on orders is set to be trimmed down to 15%. This implies that the earlier you get on board, the higher your potential returns. By investing now at $0.0315, you’ll lock in a generous 20% purchase bonus.
The future waits for no one, and neither does Uwerx. Dive deeper into this dynamic opportunity – click the links below to explore more and align your financial future with the rising star that is Uwerx. Your journey to potentially massive growth starts today.
XRP price set for 200% rally
Renowned crypto analyst DonAlt, known for accurate market predictions, has put forward an intriguing forecast for XRP, the sixth-largest cryptocurrency. With the impending decision on the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple, he suggests that XRP could witness a substantial triple-digit rally.
XRP’s Upside Potential and Buying Strategy
DonAlt, in a recent video shared on the TechnicalRoundup YouTube channel, expressed optimism about XRP’s future prospects. Having taken profits on prior positions, he has now recommenced buying XRP at its current levels, citing the potential for over 100% upside. This projection hinges on the expectation of a favorable outcome or positive developments in the SEC lawsuit against Ripple.
The Impact of the SEC Lawsuit
The forthcoming decision on the SEC lawsuit against Ripple is poised to exert a significant influence on XRP’s trajectory. The analyst suggests that even minor positive news or favorable indications during the legal proceedings could trigger a noteworthy surge in XRP’s price. However, a word of caution is essential, reminding investors to exercise careful evaluation and risk management. It is crucial to understand the uncertainties surrounding the case and approach investments in XRP with due diligence.
Also Read: Ripple CTO Reveals Secret AMM Trading Strategy: Get A 41% ROI On Your XRP! – Coinpedia Fintech News
Monitoring Key Levels
He further dips into the pivotal level that could potentially challenge XRP’s bullish thesis. Wherein, a breach below $0.46 on the weekly chart would signal a loss of crucial support, potentially invalidating the optimistic outlook. Overall market participants are advised to closely monitor this level, as it could significantly impact the future performance of the cryptocurrency.
Conclusion As XRP is currently trading at $0.506, market observers eagerly anticipate the outcome of the SEC lawsuit against Ripple. DonAlt’s prediction of a potential 200% rally highlights the speculative nature of the crypto market. He concludes in a note that “XRP trade is not risk-free” hence invest with utmost caution.
Bill Morgan Adds Massive Twist To SEC Vs. Ripple Battle: Could This Change The Game For XRP?
Renowned digital asset enthusiast and lawyer, Bill Morgan, recently took to Twitter to express his views on the ongoing lawsuit between Ripple Labs, the creator of XRP, and the U.S. Securities and Exchange Commission (SEC).
In a cryptic tweet, Morgan stated, “You may not realize that the SEC requires and seeks no remedy that requires the Judge to deem XRP a security, whatever that may imply.”
Morgan’s comment suggests that the SEC may not necessarily need a court ruling categorizing XRP as a security to achieve its objectives in this lawsuit.
You must not realise that the SEC requires and seeks no remedy that needs the Judge to deem XRP is a security, whatever that means https://t.co/W8ntLUhBB8
— bill morgan (@Belisarius2020) June 2, 2023
XRP: A Security Or Not?
For those unfamiliar with the case, the SEC argues that XRP, Ripple Labs’ cryptocurrency, should be classified as a security. In financial terms, a security is a financial instrument that holds value, such as stocks or bonds. If XRP is deemed a security, it would fall under the SEC’s jurisdiction, potentially affecting its trading and regulation.
This Might Interest You: Ripple CTO Reveals Secret AMM Trading Strategy: Get A 41% ROI On Your XRP! – Coinpedia Fintech News
According to Morgan’s interpretation, the SEC may be seeking an outcome that imposes restrictions or penalties on Ripple Labs without necessarily requiring a judicial declaration classifying XRP as a security. This implies that even without a definitive ruling on XRP’s status, the SEC could still enforce certain regulations or impose penalties on Ripple.
SEC vs Ripple: The Bigger Picture
The SEC’s lawsuit against Ripple Labs holds significant implications for the entire cryptocurrency industry, as it could establish a precedent for how digital currencies are regulated in the future. The outcome of this case is eagerly awaited by industry insiders and enthusiasts alike, with Morgan’s comment adding an additional layer of intrigue to the proceedings.
Also Read: 3 Factors Pointing Towards Ripple’s Potential Triumph in the SEC Lawsuit – Coinpedia Fintech News
As the case continues to unfold, all eyes will be on the SEC and Ripple Labs to see how this legal battle shapes the future of XRP and potentially other cryptocurrencies.
Ripple CTO Reveals Secret AMM Trading Strategy: Get A 41% ROI On Your XRP!
In a recent series of tweets, David Schwartz, the CTO of Ripple, presented a comprehensive, yet simplified, perspective on the trading strategy adopted by Automated Market Makers (AMMs), helping investors and enthusiasts to better understand this complex subject matter.
For those who want to understand an AMM's trading strategy and may find the math too complex to follow, here's a grossly oversimplified way to understand how the trading strategy works:
Say you have an asset that's volatile but no signifcant long-term trend. That is, its price…
— David "JoelKatz" Schwartz (@JoelKatz) June 1, 2023
Demystifying Price Volatility and Average Percentage Movement
Schwartz began his explanation with a hypothetical asset characterized by high volatility and a lack of significant long-term trend. This asset sees fluctuating price excursions followed by returns, such as a movement from $100 to $110 and back to $100, or a drop from $100 to $90 before returning to $100.
The CTO elucidated on a critical aspect: the average percentage movement is positive. An increase from $100 to $110 presents a +10% movement, but the subsequent drop from $110 to $100 is -9.1%. Inversely, a decrease from $100 to $90 is -10%, but the subsequent rise from $90 to $100 results in +11.1%.
“If you have an asset whose volatility exceeds its long-term trend, the average percentage movement will be positive,” Schwartz wrote. “If the long-term trend is negative, that just reduces the average somewhat. If the long-term trend is positive, that increases it somewhat.”
The AMM’s Trading Strategy
Schwartz then proceeded to explore how these dynamics relate to AMMs’ trading strategy. He suggested a straightforward trading strategy wherein an investor buys a certain amount of a stock and then continues to buy or sell the stock to keep the value of the holdings constant. This approach is believed to track the average percentage movement of the stock.
Though the trading strategy implemented by an AMM is more complex, Schwartz asserted it shares the same fundamental principle. He explained, “The trading strategy an AMM implements, though more complex than that simple one, also has this property of harvesting volatility.”
The Impact of Volatility and Fees on AMMs
Importantly, Schwartz also addressed the role of volatility and fees in AMMs’ performance. He noted that the analysis he presented primarily applies to AMMs between a fixed-price asset and a volatile asset, where the latter’s price fluctuations override its long-term trend. “AMMs work even when those constraints aren’t met, but their behavior is different,” he tweeted. “Generally it’s still pretty good as long as there isn’t a long-term negative price movement that exceeds the volatility.”
In his final remarks, Schwartz further simplified the relationship between volatility, fees, and AMMs. He tweeted, “1) AMMs charge fees when they trade. 2) Volatility causes people to trade with the AMM. 3) Thus AMMs turn volatility into fees.”
In a significant addition to his discussion, Schwartz mentioned, “The strategy is immutable, but you can remove your funds at any time. The worst-case behavior is the square root of the movement.” Explaining this further, he stated, “So if XRP doubles, your worst-case return should be +41% (square root of two, minus one).”
Also Read – Top Reasons Why XRP Price Is Flourishing Despite The SEC Lawsuit
XRP Price Journey to $1: Analyst Assesses Possibilities Amidst Recent Momentum
XRP, the cryptocurrency associated with Ripple, has sparked renewed interest among investors as it aims to conquer the elusive $1 price milestone. Analyst DonAlt, known for his insightful perspectives, has entered the conversation, offering valuable insights on XRP’s recent rally.
With resistance and anticipation in the air, let’s delve into the latest news surrounding XRP’s journey to $1.
XRP Struggles, but Hopeful
XRP finds itself at a critical juncture as it grapples with stern resistance above the $0.50 level, which has impeded its progress toward $1. Despite this challenging hurdle, industry experts and market observers remain hopeful about XRP’s future prospects.
Analyst DonAlt recently posed a pivotal question on Twitter, “Is XRP finally going to $1?”, eliciting diverse opinions and engaging discussions among the community.
XRP’s at $1 – Possible?
The optimism surrounding XRP’s potential ascent to $1 is bolstered by several encouraging developments in the cryptocurrency market. Notably, Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) has garnered attention and fueled anticipation. Furthermore, Ripple’s proactive growth initiatives have instilled confidence in the cryptocurrency’s trajectory. Users actively participate in conversations, sharing their insights on how these factors may impact XRP’s journey toward $1.
Breaking $0.50 Resistance
Analysts and traders concur that XRP has faced formidable resistance at the $0.50 level, hindering its progress. However, there is a prevailing belief that if XRP can breach the $0.60 price range, it could pave the way for a potential surge toward $1. Discussions centered around the technical analysis and key levels contribute to the interactive nature of the ongoing dialogue.
DonAlt’s Balanced Outlook
However, analyst DonAlt, renowned for his level-headed approach, has previously predicted XRP’s potential to reach or approach the $1 mark. While maintaining a pragmatic outlook, his past predictions have instilled optimism among users. Traders closely follow DonAlt’s assessments, appreciating his ongoing analysis of XRP’s price movements.
Rally or Catalysts on the Horizon
Overall, XRP’s recent rally has injected new life into the market, igniting hopes for a breakthrough. Breaking free from a persistent downtrend that began in April 2021, XRP experienced notable spikes in daily active addresses, accompanied by increased social activity. Chartist Egrag points out that XRP’s rally can gain further momentum if it successfully surpasses key levels at $0.55 and $0.58.
Although XRP faces resistance at its recent high of $0.5293, traders and investors remain hopeful for a breakthrough in the near future.
Top Reasons Why XRP Price Is Flourishing Despite The SEC Lawsuit
The XRP market has demonstrated immense potential in revolutionizing cross-border payments. Despite the ongoing SEC vs Ripple lawsuit, XRP continues to thrive globally, with a traded volume of approximately $1.58 billion in the last 24 hours. With a fully diluted valuation (FDV) of around $50 billion, the XRP market is poised for further growth post-lawsuit resolution.
Rising XRP Holders
On-chain analysis by Coinmetrics reveals a rapid increase in the number of XRP addresses holding more than $10k. This surge brings them close to an all-time high (ATH), indicating growing interest and investment in XRP.
XRP Social Volumes Reach Yearly High
Santiment data highlights a remarkable surge in XRP social volumes, reaching the highest level in over a year. Over the past 19 days, the XRP price has risen by approximately 22 percent, making it the top trending digital asset. The on-chain analytics platform also notes a significant spike in address activity recently.
Also Read: Will XRP Price Hit $2 Anytime Soon? Decoding The Possibilities – Coinpedia Fintech News
Lawsuit’s Impact on the Altcoin Industry
The SEC vs Ripple lawsuit is considered one of the most significant cases in the Web3 industry, with the potential to influence regulatory frameworks. Its outcome will have far-reaching implications for the altcoin industry, especially for ERC20s on the Ethereum network. According to data from Messari, XRP’s price has surged since March, fueled by positive news regarding the lawsuit.
$XRP surged in March twice, following positive news of the legal battle between @Ripple and the SEC.
The ongoing case began in 2020 when the SEC charged Ripple with conducting an unregistered security offering for the $XRP token. pic.twitter.com/5KzvaLJnzg
— Messari (@MessariCrypto) June 1, 2023
XRPL Revenue Surges
Notably, Messari reports a substantial increase in XRPL revenue since March, paralleling a 34 percent surge in XRP’s underlying value. These developments underscore the market’s confidence in XRP and its potential for growth.
XRP, Litecoin, Tradecurve emerging as top performing cryptos in May
New XRP (XRP) vs. SEC case updates indicate a growing probability that XRP (XRP) will win. The SEC opened the case in late 2020, alleging that XRP (XRP) had performed an unregistered security offering through its token sale.
If XRP (XRP) ends victorious, it will be a massive boon for crypto, and regulatory concerns which have suppressed price action will evaporate, allowing altcoins to rally and rally hard. Analysts turn their eyes to XRP (XRP), Litecoin (LTC), and Tradecurve (TCRV) as the top performers this month.
Tradecurve (TCRV) The Trading Experience of Tomorrow Today
Tradecurve enters its presale’s next stage, and this high-performance trading platform looks ready to explode in the coming weeks and months. Analysts have already forecast a 5,000% surge before the presale closes, and a deep dive into the protocol explains why.
Tradecurve is a one-stop-shop for the ultimate trading experience with 500:1 leverage, anonymity built in (traders only need an email address and crypto to collateralize to start trading on the platform), and access to forex, commodities, stocks, and crypto markets.
Tradecurve provides institutional-level liquidity more closely mirroring a centralized exchange regarding liquidity depth but remains fully decentralized and provides transparent on-chain pricing.
With the broad swing towards decentralized services and the growing popularity of artificial intelligence (AI) services, Tradecurve rests on the frontier of two powerful narratives. The platform token $TCRV grants investors exposure to the platform’s overall growth and access to its back-tested AI trading algorithms.
With plans to onboard 100,000 within three months of launch and introduce Proof of Reserves, Tradecurve looks to establish itself as a dominant player in the trading industry- easily one of 2023’s most exciting prospects.
XRP (XRP) Could Potentially Beat SEC
XRP (XRP) has been embroiled with the SEC for more than two years, and this case has perpetually hung over XRP (XRP), preventing the token from making any meaningful rally. However, that looks set to change given the most recent developments and some superb work from XRP’s (XRP) legal team.
XRP (XRP) was launched in 2012 and provided an alternative to the antiquated SWIFT system allowing money to travel across borders within minutes. XRP (XRP) brings cross-border payments into the modern era, and this use case drove XRP’s (XRP) early growth.
XRP (XRP) has rallied more than 10% in the last week alone as investors and traders bet on the SEC losing. Analysts expect XRP (XRP) to trade between $0.85 and $1.02 in 2024, with this price prediction factoring in an XRP (XRP) victory.
Litecoin (LTC) Halvening Approaches
Litecoin (LTC) is a crypto often forgotten by investors. Typically outshone by Bitcoin (BTC), the network from which it was initially forked. Litecoin (LTC) reduced the block time allowing for cheaper and faster transactions, and as a result, has been more rapidly adopted by merchants globally.
Litecoin (LTC) was released in 2011, and its long history stands as a testament to the project’s utility. But what has excited investors is the upcoming halving event where Litecoin’s (LTC) block rewards will half. Price will naturally increase if demand stays constant, but supply is reduced by 50%. Analysts expect Litecoin (LTC) to trade between $155.80 and $192.39 in 2024, with the halving occurring in August this year.
Find out more about the Tradecurve presale here:
Website | Buy TCRV Presale Tokens | Twitter | Community on Telegram
Sparklo (SPRK) Filling The Void For Essential Features Missing In Established Tokens Like XRP And Polygon
At present, numerous digital exchanges lack essential features demanded by their user community. Cryptocurrencies such as XRP (XRP) and Polygon (MATIC) might have once been favoured investment choices. However, recent trends among international traders and market analysts indicate a pivot towards an emergent platform, Sparklo, which is presently in its presale phase.
Sparklo (SPRK): Blockchain innovation facilitates secure investment in luxury asset-backed NFTs
Sparklo (SPRK), a groundbreaking platform, is introducing a novel approach to the blockchain industry. This pioneering platform aims to revolutionize the method through which individuals purchase precious metals online. Sparklo is poised to develop a unique platform that facilitates buying, selling and investing in Non-Fungible Tokens (NFTs) that are backed by tangible luxury assets, such as gold, silver and platinum.
The SPRK token is intended to be employed as a mechanism to streamline transactions and function as a payment method within the Sparklo marketplace. Investors and stakeholders will also utilize this token to exercise governance and voting rights. Currently, in its presale phase, Sparklo is retailing tokens at a price of just $0.026 per acquisition.
Investors who engage with Sparklo can rest assured of the security of their assets and investments, as they are safeguarded from rug-pull risks. This is due to the auditing of Sparklo’s smart contract by the Interfi Network. The project’s liquidity has been locked for a centennial duration. Furthermore, the team’s Know Your Customer (KYC) procedures have undergone review and received approval from the Block Audit Report.
Ledger amendments threaten XRP (XRP) servers; massive impact on node operators imminent
The XRP (XRP) Ledger (XRPL) is currently undergoing an amendments voting process aimed at improving XRP (XRP) efficiency. However, if certain amendments pass, it is expected that a significant number of XRP (XRP) servers will be blocked.
One such amendment called “CryptoConditionsSuite” aims to add support for crypto conditions in specific XRP (XRP) transactions. This particular amendment was added to XRP (XRP) v0.60.0 before its implementation. Validators seem to oppose one of the adaptations, which could result in the blocking of numerous XRP (XRP) servers.
The transaction fees for zkEVM will be decreased by Polygon (MATIC) by 20%
Polygon (MATIC) soon plans to optimize its zkEVM (Zero-Knowledge Ethereum Virtual Machine). The official corporate Twitter account of Polygon (MATIC) claims these changes will cut transaction fees by about 20%. It’s interesting that these enhancements can be made without resorting to data compression methods on Polygon (MATIC).
Polygon (MATIC) zkEVM transaction fees are used to defray the price of making data publicly available. In an upcoming road map, Polygon (MATIC) will go into detail on upcoming enhancements to data compression. These enhancements should make platform transactions more productive and less expensive.
Find out about the Sparklo presale using the links below:
Buy Presale | Website | Twitter | Telegram
XRP Holders Thank Deaton for Protection During SEC Battle
The post XRP Holders Thank Deaton for Protection During SEC Battle appeared first on Coinpedia Fintech News
The XRP community shows their appreciation to CryptoLaw Founder John E. Deaton on Twitter for his efforts in protecting their interests in the ongoing case between U.S. Ripple and the SEC. Yesterday, Deaton criticized the SEC for harming U.S. investors with the Ripple lawsuit, highlighting that three out of five SEC commissioners supported what he deemed a “Bogus Lawsuit” against the Blockchain firm. Deaton also revealed that only two commissioners, Peirce and Rossman, opposed the decision. He shared an appreciation note from an SEC case victim, further solidifying his support for the XRP community.
Ripple News: XRP Price Poised For 500x Rally. Here’s Why
The post Ripple News: XRP Price Poised For 500x Rally. Here’s Why appeared first on Coinpedia Fintech News
XRP has finally broken free from a two-year downtrend, sparking hopes of a potential surge that could leave investors cheering. In the midst of a market downturn, XRP stands out with gains while others face losses.
In the past week, it defied the trend, climbing 11.51% as assets like BTC and ETH struggled. Accompanying this positive momentum are two significant surges in XRP address activity, setting historical records.
Back in 2014, XRP rallied to $0.03 before facing a bearish trend for two years. Then, in April, history repeated itself as XRP broke free, resulting in an impressive 504x surge within a year. Could lightning strike twice?
Currently trading at $0.5077, XRP is pushing toward the $0.52 mark. Analysts suggest that breaking above $0.52 and $0.54 resistance levels could propel XRP smoothly to $0.90. CryptoBull, a crypto analyst, shares this sentiment, while Egrag emphasizes the need for a daily close above $0.55 for the rally to continue.
https://twitter.com/CryptoBull2020/status/1663611830906880002?s=20
While we can’t predict the future, XRP’s recent performance is undeniably promising. Investors should stay informed, track the charts, and follow expert analysis. The cryptocurrency market is volatile, and surprises are always around the corner. But with XRP’s strong performance and potential, the journey ahead promises to be thrilling for XRP investors.
XRP has broken free from a two-year downtrend, showcasing its strength amid market declines. With recent gains, historical patterns, and expert analysis, the stage is set for a potential surge. At $0.5077 and aiming for the $0.52 mark, XRP investors are eagerly watching for the next move. Buckle up and enjoy the ride as XRP aims to make its mark once again!
Ethereum and XRP Hold as Altcoins struggle; Avorak Eases Trading in Chop Markets
The crypto market has recently been riding choppy waters as prices of altcoins are struggling. The volatile market presents investment challenges that limit investors, but altcoins like Ethereum (ETH) and XRP are holding amid the choppy market phase. This project has seen surges, while other digital currencies have faced significant volatility in the past weeks.
Avorak comes in handy, offering tools that assist in trading cryptocurrencies and leveraging AI in trading analysis, in turn making profits.
What is Ethereum?
Among the top cryptocurrency projects in the digital space, Ethereum is the second most popular, following its extensive use case. It is a second-generation crypto forged aimed to curb the challenges faced in the first-generation crypto.
Ethereum’s (ETH) value has seen a significant gain and has increased by over $1,000 from mid-May to the end of the month. Several factors behind this surge include increased adoption by institutions and the heightened need for DeFi projects and dApps.
As such, leveraging Avorak AI in trading Ethereum (ETH) is a profitable idea that any investor can get into, following its user-friendly interface.
What is XPR?
XPR is also holding amid the choppy altcoin market, as it has seen a gradual price increase over the past weeks. Its surge is indicated by a 25% increase in price since mid-May towards the end of the month.
XRP’s value increase can be attributed to its increased adoption and the favorable SEC lawsuit ruling against Ripple.
Despite the choppy market, Avorak trading is the best alternative to secure profits from the volatile market. Avorak Trading uses artificial intelligence (AI) in market analysis which can be tedious for traders using manual strategies. It also offers personalized recommendations that suit every trader’s personal preferences.
Avorak Trading Advantage in Choppy Markets
Avorak uses AI to analyze mass data sets and provides real-time results that traders can leverage. As such, its recommendations are up-to-date and are effective in minting profits off a choppy crypto market, regardless of the market conditions.
In the case of trading resilient crypto assets like Ethereum (ETH) and XRP, Avorak Trading is surely an effective platform that is reliable in analyzing these assets in the market.
It also gives accurate, personalized recommendations based on machine-learning languages as it is trained to respond in a human-like manner, making it an easy-to-use platform.
Avorak offers a set of features that allow traders to mitigate trading risks and maximize their profits in crypto markets. It also offers automated trading that is useful to investors who need more trading time.
Conclusion
As Ethereum (ETH) and XRP manage to hold steady in this choppy altcoin market, leveraging platforms like Avorak Trading assures better trading conditions.
The AI platform provides a set of tools that can be used by any trader, pro or novice alike, since it’s a user-friendly platform.
Avorak Trading offers real-time market analysis and personalized recommendations making it a very attractive trading platform. It’s evident that Avorak Trading is an essential project that can be the next big adoption used by traders in mitigating losses and minting significant profits.
Get more on Avorak Trading on:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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Altcoin Market Cap Continues With a Sluggish Trend While XRP Price Clinches $0.5!
As Bitcoin displays some upward price action, the altcoins tend to follow and procure some easy gains. On the flip side, once the star crypto loses its grip over the ascending trend, the altcoins are also badly impacted as they lose the maximum of their gains. However, XRP being slightly away from the crowd is displaying the possibility of a bullish breakout, both in the XRP/USDT and XRP/BTC pairs.
The XRP/USDT pair, after marking consecutive bullish candles, is now closer to breaching the ascending parallel channel. Once the upper resistance of the parallel channel is cleared, the price is believed to trigger yet another bullish wave towards the higher targets. The price is finding support at $0.48 and the 50-day MA levels, which may help the rally remain elevated.
Besides, XRP is also showing immense strength against Bitcoin, as the pair is about to validate a bullish breakout. With the recent upswing, the pair has made a fair move towards the upper resistance, or trend line, of the descending triangle. A break from the bearish pattern may also enable the bulls to take over the rally. And as long as the Bitcoin price remains sluggish, XRP/BTC is believed to maintain an elevated trend.
Presently, XRP/USDT is trading at $0.5003, with a jump of 4.39% since the daily start, while the XRP/BTC pair is trading at 0.00001797. Both pairs are flashing acute bullish signals and have huge possibilities to mark new highs in the coming days.
Will US Crypto Exchanges Relist The Controversial XRP? Adv. Jeremy Hogan Weighs In
Jeremy Hogan, a renowned lawyer, and avid commentator on cryptocurrency-related cases, has shared his views on the possible relisting of Ripple’s XRP by US exchanges.
Breaking Down the SEC Lawsuit
Although the Securities and Exchange Commission’s (SEC) lawsuit intimates that XRP itself constitutes a security, akin to a share of stock, the specific demands presented to the court in this case stop short of applying this status to the Ripple-issued crypto. This distinction is vital since the relisting of XRP on exchanges rests largely on the resolution of this security status issue, said Hogan.
However, the legal expert raises concerns that the court might not directly address this matter as it is not unambiguously presented by the SEC. The inherent ambiguity leaves lingering uncertainty for the exchanges, even though the absence of a clear designation might suggest it is not considered a security.
Ripple’s Potential Countermeasures
Despite these complexities, Hogan sees several possibilities for progress. Firstly, Ripple could secure the SEC’s agreement to include in the final judgment a clause stating that it doesn’t cover secondary sales. Such an agreement has been achieved in the past, as was the case with KIK Interactive.
Additionally, the judge might address concerns around secondary sales, responding to points raised by several Amici, including those advocated by attorney John Deaton on behalf of XRP holders. Hogan cites a precedent in the LBRY case where the judge agreed to address the matter of secondary sales.
A Clear Ruling on Secondary Sales
Another pivotal juncture could emerge if Ripple is unsuccessful in its defense. At this ‘penalties’ stage, the court would have to draft a disgorgement order, which necessitates a clear delineation of who should receive the disgorged profits. Ripple could then argue that only direct purchasers from Ripple, not secondary purchasers, are entitled to have their ‘investment’ returned. Hogan notes that this principle aligns with the SEC v. Wang case.
Also Read: Ripple News: Top Reasons Why XRP Price Can Hit $1 in June
If the court concurs, it would effectively create a ruling on secondary sales. This ruling is critical as it would determine the allocation of the disgorged funds and potentially have significant implications for the future of XRP and its listing on exchanges.
Top Lawyer Suggests XRP FOMO Delayed Until Coin Reaches $2 Mark
In a provocative forecast, the highly recognized cryptocurrency attorney and fervent supporter of XRP, John Deaton, proposed an intriguing market observation on social media. He opined that XRP, currently valued at $0.48, might not experience any significant fear of missing out (FOMO) in the market until its price soars to the $2 threshold.
Rebound Signs Stir Optimism
Despite a somewhat sluggish onset of the week, XRP – the proprietary digital asset of the Ripple network – manifested signs of reviving towards the weekend. This indicates possible robustness and potency in the network’s performance as the year progresses.
Over the past fortnight, XRP has demonstrated notable resilience, with a price appreciation of approximately 13%. This upward price trajectory can be largely attributed to Ripple’s increasingly strong fundamentals that are driving the accumulation of digital asset.
Technical Indicators Signaling Upside Movement
From a technical perspective, XRP has forged an inverse head and shoulders pattern, which will be finalized upon achieving a break and closing above its neckline. The 20-day exponential moving average (EMA) of $0.45 has been trending upward, while the Relative Strength Index (RSI) has escalated into the positive domain, suggesting an uptrend as the path of least resistance.
Should the bulls manage to sustain the price above the neckline, a rally toward the resistance zone ranging between $0.54 and $0.58 is foreseeable. The projected target for this optimistic setup is $0.55.
The Battle between Bulls and Bears Continues
Analyzing the four-hour chart, XRP finds itself in a rigorous contest between the bulls and the bears around the neckline. The ascending 20-EMA and the RSI within the positive territory signal a slight advantage to the buyers.
If the price successfully rebounds off the 20-EMA, the likelihood of a break above $0.48 increases, possibly triggering an upward movement. Conversely, if the price drops and breaks below the moving averages, the short-term advantage could be swayed toward the bears, causing the token’s price to retreat to $0.44.
XRP was worth $0.47 at the time of writing this article.
Whales Accumulate 52M XRP; Should You be Bullish on XRP Price?
XRP price has been closely monitored ever since the final ruling in the Ripple vs SEC case circulated within the markets. Jeremy Hogan, an attorney who is closely monitoring the case, recently shared his observations, which suggested the lawsuit may end in July 2023. He highlighted the fact that the judge has been making major rulings about every 9 weeks. As it produced rulings on September 29, December 19, March 6, and May 16, the next ruling could be another nine weeks away, that is, in July.
Besides, the whales have begun their preparation for the bull rally as they constantly accumulate more than 52 million XRP worth more than $22.9 million in May.
The number of addresses holding more than 10 million addresses have soared from 300 to 313 in May with the value jumping from $77.93 billion to $78.13 billion. A massive jump in the whale accumulation in May has been flashing huge bullish signals for the XRP price which may propel high following a major event. As of now, the outcome of the Ripple vs SEC lawsuit is the only event that may trigger the XRP price.
Alongside, the market participants have also begun to accumulate XRP as the daily active address of XRP suddenly witnessed a major spike in the past few hours.
After a major drop from 883.8K in March, the active address count remained largely consolidated below 30,000 until the last trading day. However, the count has surged massively around 525.7K and is still counting. The massive surge in active addresses indicates the huge involvement of the XRP bulls and its army who may propel the price beyond the crucial resistance.
Presently, XRP price is hovering just below $0.5 at around $0.48 with a jump of 2.16% in the past 24 hours. The price trading within a decisive symmetrical triangle and heading towards the upper resistance. As the buying volume has been accumulating finely a wider push towards the upper resistance and invite the bulls to assist the price for a bullish breakout. Once the price secures levels above $0.55, another bullish wave may push the prices above $0.6 levels in the next few months.
Ripple News: Top Reasons Why XRP Price Can Hit $1 in June
The cryptocurrency community, especially the XRP community, is currently buzzing with excitement about a possible resolution in the prolonged Ripple vs SEC lawsuit. Apart from that, the recent volatility in the market has sparked hopes for a potential rally with the price hovering near the $0.46 and $0.47 levels. As explained by YouTuber ExtraVOD, June holds significant events that could be game-changers for XRP.
According to them, June seems poised to be an explosive month for XRP, with multiple events looming on the horizon. The SEC vs. Ripple case continues to be a focal point of discussion, as the deadline for the Hinman documents approaches on June 13th. The outcome of this case could potentially have far-reaching implications for XRP and its status as a regulated digital asset.
Moreover, reports of Chinese hackers targeting critical infrastructure using novel methods have raised concerns about cybersecurity and its potential impact on the crypto market. These events, along with other unforeseen black swans, have contributed to an atmosphere of anticipation and uncertainty.
He also said that the phrase “price before the law” has gained traction within the XRP community. It suggests that the price of XRP may experience a surge before any regulatory clarity or legislation is established.
XRP Price Analysis
XRP holders have enjoyed a remarkable few weeks as the value of the token has surged by over 13% since May 11. This impressive upward trend continues to gain momentum, sparking speculation within the community about the possibility of XRP reaching the coveted $1 mark. Following a strong upward trajectory in the past two weeks, the token is now trading at the $0.47 levels. As the community prepares for potential game-changing events, all eyes remain on XRP’s price movements in the coming weeks.
Ripple Vs SEC: Pro-XRP Lawyer Predicts LBRY’s Bold Move Against SEC Could Spell a Massive Win for XRP!
The cryptocurrency sector is currently awaiting a resolution in the prolonged Ripple vs. the Securities and Exchange Commission (SEC) lawsuit. However, legal experts have now expressed their opinions on LBRY’s recent legal action against the SEC.
LBRY, a platform for sharing and publishing content, submitted a supplemental brief in support of its motion to restrict the remedies sought by the SEC in the ongoing case of SEC vs. LBRY.
LBRY has stated in its filings that it has been actively seeking clarification from the SEC regarding the use of LBRY Tokens for several years. Despite these efforts, the commission has declined to provide a clear explanation of the token’s status, instead pursuing a broad injunction that lacks specificity and transparency.
LBRY is asking the Court to clarify that secondary sales of LBRY are not affected by the judgment.
Watch out for this ruling! as this is a possible scenario in the Ripple case with the SEC asking for a broad/vague injunction and Ripple seeking clarity from the Judge. https://t.co/mbIijIMKBH pic.twitter.com/B1WdM7lINL
— Jeremy Hogan (@attorneyjeremy1) May 26, 2023
In response to this latest development, Jeremy Hogan, a lawyer supporting XRP, urged members of the XRP community to pay close attention to the outcome of the LBRY case. He urged XRP community members to stay informed and monitor the progress of both cases closely, as the outcomes could have implications for the broader cryptocurrency industry.
He wrote, “Watch out for this ruling! as this is a possible scenario in the Ripple case with the SEC asking for a broad/vague injunction and Ripple seeking clarity from the Judge.”
Telling the court in effect it shouldn’t impose relief. If the judge decides the SEC has congressional authority to regulate digital assets it will not be helpful to Ripple and Coinbase even though it wouldn’t be a binding a decision. Whose funding the appeal. LBRY is insolvent/2
— bill morgan (@Belisarius2020) May 26, 2023
The ongoing legal dispute between Ripple and the SEC is currently awaiting a Summary Judgment. However, there has been a recent development as the court has denied the commission’s request to keep the Hinman documents confidential. This decision has sparked significant anticipation within the cryptocurrency industry, as key documents are expected to be released soon.
Ripple (XRP) and The Graph (GRT) Face Stiff Competition as DigiToads (TOADS) Shows Promising Signs of Success
In the dynamic world of cryptocurrencies, competition is fierce. Ripple (XRP) and The Graph (GRT), long-standing staples in the crypto industry, now face a formidable contender. A newcomer, DigiToads (TOADS), has been showing promising signs of success, painting an intriguing narrative in the volatile landscape of altcoins. Signalling bullish sentiment from the community and placing it among the top ICOs of the year.
DigiToads (TOADS)
DigiToads’ rapid ascent can be attributed to its unique offering. Unlike many altcoins, DigiToads is a meme coin with multiple utility avenues. Aiming to change the status quo, DigiToads offers an ecosystem that supports play-to-earn gaming, NFT staking, and much more. The project encompasses a digital realm, dubbed ‘The Swamp,’ and a TOAD NFT collection, establishing its place amongst the league of cool NFTs.
One of DigiToads’ main attractions is its gaming facet. DigiToads’ web3 game allows players to nurture and battle unique digital amphibians. Every DigiToad boasts its unique characteristics, strengths, and weaknesses, providing a diverse array of digital companions. By deploying TOADS tokens to purchase game aids, players can bolster their DigiToads, creating an exciting and profitable gaming experience.
The innovative NFT staking model is another feature that sets DigiToads apart. After releasing 3500 unique NFTs during its presale, DigiToads offers holders the option to stake their NFTs for rewards, providing a steady stream of earnings. A 2% tax on every TOADS transaction bolsters the staking pool, ensuring a sustainable reward system for the DigiToads community. The proof lies in the numbers: DigiToads presale recently raked in over $4.3 million and counting,
The Graph (GRT)
The Graph (GRT) is a blockchain-based project that uses its native cryptocurrency, GRT, to support its ecosystem. The project operates somewhat like Google does for the internet, but in this case, The Graph indexes blockchain data.
The Graph is designed to index and retrieve data on Ethereum and InterPlanetary File System (IPFS) networks, making it easier for developers to extract the necessary information for their decentralized applications (dApps). This function is particularly valuable for projects with complex smart contracts and NFT initiatives where extracting more than basic data directly from the blockchain can be challenging.
Ripple (XRP)
Ripple is a technology that serves as a cryptocurrency and a digital payment network for financial transactions. The Ripple network is designed to meet the needs of the financial services industry. It was created by Ripple Labs Inc., a US-based technology company, and aims to enable real-time, cross-border transactions.
The native cryptocurrency on the Ripple network is XRP. XRP consistently ranks among the top cryptocurrencies by market capitalization. It is a digital asset explicitly built for global payments.
The Market is Changing
Yet, even with this promising newcomer, it’s important not to overlook the credibility and success of Ripple (XRP) and The Graph (GRT). Ripple, a digital payment protocol that also has its cryptocurrency, XRP, is known for its speed and low transaction costs. The Graph, on the other hand, serves as a decentralized protocol for indexing and querying data from blockchains, playing a vital role in the broader crypto ecosystem. These tokens have secured their positions in the crypto world due to their unique features and solutions.
However, the crypto landscape is ever-evolving, and the arrival of DigiToads is a testament to this fact. It showcases how innovation and community engagement can propel a project to success. With its engaging gaming ecosystem, a deflationary token model, and an impressive NFT staking system, DigiToads has undoubtedly emerged as a worthy contender in the world of credible crypto.
Become Part of the DigiToads Journey
It’s an exciting time for the crypto world as new players like DigiToads shake up the market. Ripple and The Graph face this fresh competition and it goes to show that no single crypto can rest on its laurels. Ultimately, it’s a testament to the dynamic nature of the crypto industry; the ability to adapt and innovate remains paramount. And for now, DigiToads is successfully swimming upstream, showing promising signs of success.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
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Sparklo (SPRK) Rivals XRP (XRP) and Ethereum Classic (ETC) for Top Tokens
Sparklo is pioneering a unique idea on the blockchain. The excitement around the project means adoption is imminent and will put it in a strong position to compete with XRP (XRP) and Ethereum Classic (ETC).
Sparklo (SPRK) offers unique trading on the blockchain
Sparklo aims to offer the crypto community a unique opportunity to invest in NFTs representing real-world luxury investments. Through Sparklo, members can invest in platinum, silver and gold through NFTs, either completely or in fractions.
Sparklo’s presale is underway at only $0.026. This cheap price is followed by a 50% bonus, summing up the presale’s incredible deal. Besides being cheap, Sparklo is also a profitable project, according to experts. They believe the project has the potential to record 3,000% growth by December 2023. So, what are you waiting for? The presale link is just below.
Moreover, to secure your investment, liquidity will be locked for 100 years and the tokens of the team will be locked for 3 years. Furthermore, with its audited smart contract by InterFi Network and completed KYC audit, the project and presale are safe.
XRP (XRP) trades sideways as investors search for better entry points
XRP’s (XRP) parent company, Ripple, is leading an initiative that aims to support decentralized infrastructure. In a tweet released May 23 by Dispersion Capital, it said a $40 million initial fund will be invested in decentralized infrastructure, with 10% already deployed. Although XRP (XRP) is still in the middle of a legal tussle, it nonetheless continues to make positive waves in the crypto space.
XRP (XRP) is currently trading at $0.46 as of the time of writing and has been trading sideways in the past week. On the 24-hour price chart, XRP’s (XRP) value has decreased by 1.25% but has experienced 1.48% gains in the past 7 days at press time. Although XRP (XRP) will experience a significant spike in price at some later time, we believe it won’t be as significant. The Sparklo presale, on the other hand, comes with promises of considerable growth.
Ethereum Classic (ETC) is currently trading in tandem with Ethereum (ETH)
Ethereum’s (ETH) hard fork, Ethereum Classic (ETC), is one of the most popular tokens, ranking 25th. Ethereum Classic (ETC) trades at $18 but has been facing selling pressure in recent times. In the past 24 hours, Ethereum Classic (ETC) has experienced a 1.9% drop in price at press time. Further, a 7.8% decrease in price on the 30-day chart shows a bearish trend on the monthly chart.
Ethereum Classic (ETC) is trading in tandem with Ethereum (ETH) in the 24-hour chart as of press time. A price swing in Ethereum (ETH) might show a similar result in Ethereum Classic (ETC). Notwithstanding, Ethereum Classic (ETC) doesn’t offer exponential growth, at least not as much as Sparklo, making the latter more profitable.
Find out more about the presale:
Buy Presale | Website | Twitter | Telegram
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Why XRP Price is Up Today? Surges 3.2% Amidst Bearish Sentiments
In the XRP market, a potential head and shoulder pattern is forming on the XRP/USD daily chart, signaling a positive outlook. The rising divergence on the daily RSI further supports the bullish narrative, indicating a possible rally for XRP.
Bitcoin VS. XRP
While Bitcoin hovers around a fragile support level of $26.2k, XRP appears more likely to surge from its current levels, fueled by enthusiastic FOMO traders. Ethereum and other top digital assets closely follow Bitcoin’s price action, making XRP a more attractive choice for investors.
#XRP Fib Channel: #XRP has closed 10 daily candles above Fib channel 0.786 which is #Bullish. Moreover, #XRP short-term might have three tracks:
A) Yellow Track : #XRP WILL make higher high on the daily and attack Fib 1.0 around 0.55c.
B) White Track: #XRP Will retest Fib… https://t.co/uqgzTQlZSj pic.twitter.com/ThCkVlSHji
— EGRAG CRYPTO (@egragcrypto) May 26, 2023
Bitcoin’s Liquidity and Market Dominance
Being the oldest digital asset, Bitcoin’s liquidity depends on widespread cryptocurrency adoption. It is traded on both centralized and decentralized exchanges, contributing to its large market dominance of approximately 48%. With a daily traded volume of around $12.7 billion, Bitcoin remains a significant player in the crypto market.
Tether USDT: The Leader in Daily Traded Volume
On Friday, Tether USDT claimed the highest daily traded volume in the cryptocurrency industry, reaching about $19.2 billion. As a stablecoin, Tether provides stability and liquidity to traders, contributing to its popularity and high trading volume.
XRP Remains Unimpacted By Lawsuit
Despite facing a lawsuit from the SEC, Ripple has managed to increase XRP’s liquidity through strategic partnerships and acquisitions. The On-Demand Liquidity platform, utilizing XRP for cross-border transactions, has been adopted in over 40 payout markets. This innovative solution attracts institutional investors seeking to optimize capital and provide faster, more secure payments to their customers, surpassing traditional methods like SWIFT.
Top Expert Outlines Why The XRP Army Is The Strongest In The Cryptoverse
Renowned Forbes contributor Sam Lyman ignites conversation around the influential force known as the ‘XRP Army.’ Comprising passionate XRP enthusiasts, this collective has emerged as a critical player in the cryptocurrency realm, amid a surge of legal challenges gripping the crypto industry.
Right now, the #XRPArmy is carrying all of crypto on its back.
If the court rules in favor of @Ripple, it would provide a critical legal precedent for the industry that would protect digital assets from further overreach by the SEC.https://t.co/ToM9ZygXq0
— Sam Lyman (@SamLyman33) May 25, 2023
Regulatory Confrontation
The XRP Army takes center stage in the escalating confrontation with regulatory entities. Their actions hold significant weight in the crypto world, as a victory for Ripple could set a precedent that safeguards digital currencies from perceived regulatory overreach by the U.S. Securities and Exchange Commission (SEC), ultimately protecting the entire industry.
Ripple’s CEO Anticipates Legal Resolution
Ripple CEO Brad Garlinghouse expresses optimism about the impending conclusion of Ripple’s lengthy legal skirmish with the SEC. During a recent interview, he confidently predicts that the case could reach a resolution in a matter of weeks, rather than months, especially considering the recent court proceedings involving the Hinman emails.
The Ripple-SEC Dialogue Expands
Crypto attorney and dedicated XRP advocate John Deaton playfully responds to Garlinghouse’s prediction on Twitter, attracting the attention of other legal heavyweights such as Jeremy Hogan and James K. Filan. Their engagement further amplifies the discussion surrounding Ripple’s legal battle and its potential implications.
Judge’s Ruling Unveils Crucial Evidence
A crucial legal development arises as Judge Analisa Torres denies the SEC’s request to seal the ‘Hinman documents.’ These internal discussions within the securities regulator revolve around a 2018 speech by William Hinman, the former Division Director. Hinman’s statement that Bitcoin (BTC) and Ethereum (ETH) do not meet the criteria for classification as securities becomes a pivotal element in this high-stakes court case.
Also Read: Ripple Price Prediction 2023, 2024, 2025, 2026 – 2030
The XRP Army and Ripple’s legal battle continue to captivate the crypto community. With legal heavyweights engaging in the discussion and crucial evidence coming to light, the resolution of this legal saga draws nearer.
Atlanta Fed Bank Cites XRP for Global Payments
The post Atlanta Fed Bank Cites XRP for Global Payments appeared first on Coinpedia Fintech News
Atlanta’s Federal Reserve Bank praises Ripple’s XRP for cross-border transactions. Reserve Bank eyeing XRP payments, Federal Bank on web3 at digital assets. The Report shows more use of web3 and Blockchain by central banks, Highlights project Mariana( A Proof Concept of by BIS; Bank of International Settlements, and financial institutions. Project Mariana boosts cross-border settlements using Ripple & Stellar for cost-effective transfers says, Federal Bank. Ripple employees XRP in finance, XRP is predicted to be a global payment and settlement coin. Focuses on web3 not Ripple/XRP.
XRP Ledger Hits Watershed Milestone Closing 80 Million Ledgers
The XRP Ledger’s origins may be traced back to 2012, when Arthur Britto, david schwartz 
david schwartz CTO at ripple David Schwartz, known as JoelKatz, is an esteemed voice in the digital currency ecosystem, serving as the Chief Technology Officer at Ripple, which provides global financial institutions, businesses, governments, and developers the ability to manage, move, and tokenize value through blockchain technology. David is an expert in cryptography, software development, and computer security, especially for startups as well as rapidly growing and tiny companies, and is a native of San Francisco, California.
David is among the original architects, including Arthur Britto and Jed McCaleb, who was inspired by Bitcoin to create the XRP Ledger, a decentralized open blockchain founded in 2013. Before joining Ripple, he was Chief Technical Officer at WebMaster Incorporated, a Santa Clara software developer. In addition, David has developed enterprise messaging systems and encrypted cloud storage for companies such as CNN and the National Security Agency. Developer/ProgrammerCrypto and Blockchain Expert 
, and Ryan Fugger first developed it. The XRP Ledger has undergone a number of updates and enhancements throughout time to increase its utility and security.
Now, according to the latest announcements by XRPScan, an XRP Legder explorer and network analysis platform, the XRP Legder has hit a noteworthy milestone.
https://twitter.com/xrpscan/status/1661441862656294921
XRP Ledger Closed 80 Million Ledgers in 10.5 Years
According to XRPScan, the XRP Ledger has achieved the milestone of closing 80 million ledgers over a span of around 10.5 years. In the context of blockchain technology, a ledger signifies a record of transactions within the network. This accomplishment highlights the efficiency, dependability, and growing acceptance of the XRP Ledger as a transaction processing technology within the Ripple network.
In September 2019, the XRP Ledger achieved a milestone of 50 million ledgers, and it took slightly over a year to add an additional 10 million.
This pace of growth highlights the expanding acceptance and utilization of the XRP Ledger, demonstrating the increasing capacity of the Ripple network to handle a significant volume of transactions.
Nevertheless, alongside the recognition for its swiftness and cost-effectiveness, the XRP Ledger has encountered criticism regarding its level of centralization. While it is technically a decentralized network, the close association between the XRP Ledger and Ripple Labs, coupled with the substantial amount of XRP held by the company, has led some to argue that the ledger exhibits more centralization compared to other blockchain systems.
The monumental milestone achievement also comes at a time when the ongoing lawsuit between Ripple and the SEC is poised to come to a conclusion soon. With the community anticipating that the SEC will likely lose the battle, it could be another magnificent victory for Ripple if the lawsuit concludes positively for them.
Also Read: Ripple Price Prediction 2023, 2024, 2025: Will XRP Price Reach $1 By The End Of 2023?
XRP Price is Breaking Below $0.45! Here’s Next Support For XRP
As traders navigate an uncertain global financial landscape, Ripple’s XRP token isn’t immune to the shockwaves reverberating through the crypto markets. The price of XRP has notably slipped below the critical support level of $0.45, causing a stir among traders and investors. This significant drop can largely be attributed to the current bearish sentiment surrounding potential interest rate hikes and the looming US debt ceiling crisis, which have started affecting the altcoin market significantly, and thus, the XRP price.
XRP Outshines But Fails To Hold Momentum
In an unexpected twist, XRP, Ripple’s native digital coin, has ascended past Bitcoin (BTC) to become the most traded asset on South Korea’s largest cryptocurrency exchanges, Upbit and Bithumb, in terms of trading volume.
Remarkably, for two days running, XRP, currently ranked as the sixth-largest cryptocurrency by market capitalization, has managed to steal the limelight from Bitcoin in trading volume. This event signifies the burgeoning popularity of XRP amongst Korean investors, potentially indicating a shift in the overall crypto market dynamics.
As it stands, XRP holds the top spot as the cryptocurrency with the highest daily trading volume. It chalked up approximately $208 million on Upbit and $50 million on Bithumb in daily trading volume. In contrast, Bitcoin saw a trading volume of $96 million on Upbit and $27 million on Bithumb over the past 24 hours.
XRP’s ascent to prominence can be credited to multiple variables. Central to this has been Ripple’s tactful collaborations with prominent Korean financial entities, including GME, South Korea’s preeminent remittance service firm, and leading exchanges.
Furthermore, the anticipation of the SEC failing to uphold pivotal arguments has further buoyed this optimism. If this expectation materializes, it could potentially catalyze a surge in XRP’s price, propelling it to unprecedented levels.
XRP Steeply Declines From $0.45
This week started off on a promising note for XRP, with the digital asset trading comfortably above $0.45. However, bearish sentiment trapped bulls, plunging the price below 23.6% Fib level. As of writing, XRP price trades at $0.4491, declining over 2.5% in the last 24 hours.
The market bulls have struggled to push XRP past the prevailing downtrend line, and initiated a steep decline near the EMA-50 trend line at $0.45. This signifies a shift towards a bearish sentiment, with market tops being seized as selling opportunities.
The 20-day EMA is slowly beginning to trend downwards, and the Relative Strength Index (RSI) is situated within the negative zone. This suggests that the easiest route is likely downward. If buyers manage to push the price from $0.43 and send it above the 50-day EMA of $0.45, XRP’s value could gain momentum, potentially soaring as high as $0.47.
However, if the price slides below $0.44, it may begin a downturn that could pave the way for a drop towards the crucial support zone near $0.4.
Ripple Vs SEC Lawsuit Update: Pro XRP Lawyer Expects Summary Judgement Before June 13
The final ruling on the Ripple vs. SEC lawsuit is just around the corner, and it has the entire crypto industry on the edge of its seat. This lawsuit holds high significance as it is expected to provide regulatory clarity in the USA, which currently struggles without a comprehensive regulatory framework for the sector.
As anticipation runs high, there have been several predictions on what to expect. However, here’s one that’s sure to interest you: XRP enthusiast and attorney Jeremy Hogan has revealed his expectations regarding the summary judgment ruling in the Ripple-SEC lawsuit.
Jeremy Hogan Shares Insights on Summary Judgment
Jeremy Hogan, a partner at the law firm Hogan & Hogan and an XRP enthusiast, recently shared his expectations regarding the summary judgment ruling in a tweet. In response to a Twitter user’s query about whether Judge Torres could make a summary judgment decision before the release of redacted documents, Hogan stated that the judge is not required to wait for the documents but it is more likely that she might choose to do so. He further mentioned that he would not hold his breath until after June 13.
Judge Torres Denies SEC’s Motion To Seal Hinman Documents
On May 16, Judge Torres made a significant ruling by rejecting the SEC’s request to seal the Hinman documents. This means that the court intends to make these documents available to the public. Since then, the countdown has begun with June 6 in mind, as the anticipated date for the public release of these much-discussed documents.
Recently, both Ripple and the SEC filed a joint letter together, asking for an extension of one week. This means that the deadline for filing public versions of the summary judgment motions, along with supporting exhibits, including the Hinman materials, has been pushed back to June 13, 2023.
XRP Does Not Satisfy Howey’s Test
In a noteworthy discovery, John Deaton, the founder of CryptoLaw, found some interesting information in the footnotes of Ripple’s Opposition and Reply Briefs. These footnotes made reference to internal emails within the SEC, suggesting that there are internal discussions acknowledging that XRP may not meet all the criteria of the Howey Test, a legal test used to determine whether an asset is a security.
Deaton expressed his eagerness to review the redacted documents, which he believes largely contain personal opinions. He highlighted the existence of 63 emails and 52 unique drafts of the Hinman Speech, indicating a substantial amount of revisions and input for what is purportedly a personal opinion.
Final Ruling On The Lawsuit
In the recent Dubai Fintech Summit Garlinghouse shared his predictions for the resolution of the lawsuit. He expects the case to conclude within the next two to six months. He acknowledged that the Judge may operate on her own timeline but remains optimistic that the ruling will be made before the end of Q3 2023.
“XRP Tokens are Not Securities”: Legal Expert Challenges SEC
In a recent series of tweets, Bill Morgan, a digital asset enthusiast, and lawyer, expressed his concerns about the Securities and Exchange Commission’s (SEC) stance on Ripple’s XRP sales. Morgan argues that the SEC’s attempts to categorize all XRP tokens as investment contracts face a significant hurdle when considering a “small subset” of sales made to On-Demand Liquidity (ODL) customers.
XRP fails to qualify as a security
“They just don’t seem to fit any part of the Howey test. No investment. Even the SEC alleges they are dealt with by ODL customers immediately. No expectation of profit because they are being used as a bridge, not held. No common enterprise.”
Morgan highlights that the sales to ODL customers do not appear to meet the criteria set by the Howey test, a legal framework used to determine whether an investment qualifies as a security. He points out that these sales do not involve investment intentions, as ODL customers use XRP as a bridge currency and promptly convert it. Additionally, there is no common enterprise, as ODL users are merely customers utilizing a product.
This poses a challenge for the SEC, as considering these sales as exceptions would undermine their argument that all XRP is a security or represents an investment contract. The notion that XRP itself is security collapses, as all XRP tokens are fungible.
Also Read: Secret Ripple-SEC Discussions Exposed: Will XRP Lawsuit Take A U-Turn? – Coinpedia Fintech News
Morgan’s Arguments
Morgan points out two other exceptions that challenge the SEC’s argument: the giveaways of XRP to early adopters and developers, as well as donations to charities. The SEC has made no claims regarding these transactions, indicating that those XRP tokens were not considered investment contracts.
However, the SEC’s assertion that all XRP tokens are fungible creates a predicament. As Morgan explains, if some XRP tokens given away, gifted, or sold to ODL customers are not investment contracts or securities, then it logically follows that all other XRP tokens, which are fungible with them, cannot be considered securities either.
Morgan Divulges His XRP Holdings
In a separate tweet, Morgan clarifies that the XRP he owns were some of those initially given to early adopters or gifted to charities, which the SEC does not allege as investment contracts. He asserts that his XRP holdings, although fungible with other XRP tokens, are unequivocally not securities, attributing his ownership to fortunate circumstances.
Ripple News: XRP Price Might Drop To $0.34 In Coming Days, But There’s a Catch
Matthew Dixon, the CEO of Evai, a prominent figure in the cryptocurrency industry, has provided his insights on the future of the XRP price. Dixon’s analysis suggests that XRP, the native cryptocurrency of Ripple, is likely to undergo a significant downturn in the near term, potentially plummeting to around $0.34. However, he also anticipates a subsequent rebound that could see the price surge beyond $0.6.
Does he have some substance to back up this claim? Let’s explore.
The Elliot Wave Theory
Dixon, known for employing Elliot Wave Theory to analyze market trends, took to Twitter to express his insights on XRP’s price trajectory.
The Elliot Wave Theory, pioneered by Ralph Nelson Elliott in the 1930s, is a methodology widely used by traders to identify patterns and predict price movements. According to this theory, price movements occur in waves, typically consisting of five “impulse” waves followed by three “corrective” waves.
Drawing upon this theory, Dixon’s analysis points to the current phase of XRP being the final impulse wave, referred to as the “X wave.” Following this, he expects a corrective wave, known as the “Y wave,” which could trigger a temporary decline in the price. However, Dixon maintains a bullish stance, projecting a strong rally for XRP after this corrective phase.
XRP Price On Edge
However, at present, XRP is trading at $0.461188, marking a modest 0.7% increase for the day and a 9.3% rise over the past week, according to CoinGecko data. It’s worth noting that XRP still has a far way to cover and reclaim its all-time high of $3.4, a record set more than five years ago in January 2018.
Also Read: Is XRP Really A Security? Attorney’s Shocking Revelation Raises Eyebrows – Coinpedia Fintech News
Overall Dixon’s predictions indicate that investors should prepare for a potential initial drop in XRP’s value, which may present a buying opportunity. However, he also foresees a subsequent surge that could propel the price beyond the $0.6 mark. If his analysis proves accurate, it could offer significant potential returns for those who have the patience and resilience to withstand the initial losses.
“This is once again an EXCITING time to be in #CRYPTO Don’t miss the boat #Evai”
XRP Poised for Institutional Adoption as the Only Regulated Asset, Claims Beyond Broke CEO
In a recent interview with Versan Aljarrah on the Black Swan Capitalist YouTube channel, Jake Claver, CEO of Beyond Broke LLC and Director at Digital Ascension Group, has voiced his belief that XRP, the cryptocurrency associated with Ripple, will enjoy significant institutional adoption and trading volume growth as the only regulated digital asset in the United States.
Claver’s optimistic outlook stems from the potential resolution of the ongoing lawsuit between the Securities and Exchange Commission (SEC) and Ripple, which he sees as a pivotal moment for XRP’s future. His views echo those of a small group of industry leaders who anticipate game-changing opportunities for XRP once the legal uncertainty surrounding its classification is resolved.
Regulatory Clarity to Propel XRP’s Unique Position
He further stressed that the SEC vs. Ripple litigation will give XRP regulatory clarity that no other digital asset in the US has. He predicted that financial institutions will rush to XRP once it has a clear regulatory designation. XRP-supporting exchanges may see a significant volume shift due to institutional interest.
The expert noted that the XRP community’s focus on the SEC lawsuit’s negative effects overlooks its possible positives. XRP’s reputation and market position may change after the lawsuit’s result, he suggested.
Implications of XRP Being Classified as a Security
He listed many impacts if XRP were classed as a security. XRP transaction processors may need broker-dealer licenses. As a currency, commodity, or security, XRP’s tax situation is unclear for holders and users.
Furthermore, XRP would also be restricted to fewer exchanges if it were a security. Despite the litigation, UpHold, which has a securities license, trades XRP. If XRP were a security, Coinbase would certainly need a securities license to trade it.
Market Sentiments
The analyst’s bullish stance aligns with the views of a small group of industry leaders who see the SEC lawsuit as a pivotal moment for XRP. One such figure is Ben Armstrong, widely known as BitBoy, who has previously expressed his belief that XRP’s classification as a non-security, following a trial, sets it apart from other digital assets. Armstrong and others within this cohort anticipate XRP to be one of the major beneficiaries in the next bull run.
Overall, his optimistic stance on XRP’s prospects rests on the assumption that regulatory clarity obtained through the resolution of the SEC lawsuit will propel the cryptocurrency’s institutional adoption and trading volume. While the outcome of the lawsuit remains uncertain, Claver’s views resonate with a small group of industry leaders who see a potential game-changing scenario for XRP in the near future.