Ripple lawsuit could see changes with Kamala Harris’ nomination, XRP rallies 5%
🚧 Ripple lawsuit is awaiting final ruling, Mark Cuban hinted at Kamala Harris’ nomination influencing crypto regulation in the US.
📮 The SEC alleges that the payment remittance firm has violated securities laws, Ripple CEO said in a recent interview that a resolution is close.
📄 XRP extends gains by 5% on Wednesday, surges to $0.62.
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
The US Securities and Exchange Commission (SEC) lawsuit, recent events in the crypto market, including Spot Ether ETF approval by the SEC and Mark Cuban’s recent statements on the Presidential nomination are the key market movers influencing XRP on Wednesday.
Daily digest market movers: Ripple lawsuit could see changes in response to shift in crypto regulation
💥 Mark Cuban, an American entrepreneur and crypto proponent, says he expects Kamala Harris’ nomination to the US presidency to impact crypto regulation, likely positively.
📯 Changes in crypto regulation are expected to have an impact on the SEC lawsuit against Ripple, where the regulator alleges that the payment remittance firm violated securities laws.
📅 In July 2023, Judge Analisa Torres ruled that XRP, the native token of XRP Ledger, is not a security in its secondary-market transactions. The decision was upheld and cited as precedent in SEC vs. Binance lawsuit, per judge Amy Berman Jackson’s ruling.
📬 Cuban told Politico that the Harris campaign is interested in crypto, among other issues that are being discussed, and the Presidential candidate is considering speaking at the Nashville Bitcoin conference later this week.
📋 SEC vs. Ripple lawsuit is awaiting a final outcome. There’s talk of a closed-door meeting between the two parties on July 25. Find out more about it here:
Ripple stablecoin unlikely to invite legal trouble with SEC, XRP loses key support
Technical analysis: XRP breaks above $0.62 on Wednesday
Ripple is currently in an upward trend, forming higher highs and higher lows since July 8. XRP is likely to extend gains by 10.77% and hit its $0.70 target. The altcoin could find support at $0.5797 and $0.6058 (the 61.8% Fibonacci retracement of the decline from the March 11 top of $0.7440 to the July 5 low of $0.3823).
The momentum indicator, Moving Average Convergence Divergence (MACD), supports XRP gains. The green histogram bars correspond with underlying positive momentum in Ripple’s price trend.
🚧 Ripple lawsuit is awaiting final ruling, Mark Cuban hinted at Kamala Harris’ nomination influencing crypto regulation in the US.
📮 The SEC alleges that the payment remittance firm has violated securities laws, Ripple CEO said in a recent interview that a resolution is close.
📄 XRP extends gains by 5% on Wednesday, surges to $0.62.
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
The US Securities and Exchange Commission (SEC) lawsuit, recent events in the crypto market, including Spot Ether ETF approval by the SEC and Mark Cuban’s recent statements on the Presidential nomination are the key market movers influencing XRP on Wednesday.
Daily digest market movers: Ripple lawsuit could see changes in response to shift in crypto regulation
💥 Mark Cuban, an American entrepreneur and crypto proponent, says he expects Kamala Harris’ nomination to the US presidency to impact crypto regulation, likely positively.
📯 Changes in crypto regulation are expected to have an impact on the SEC lawsuit against Ripple, where the regulator alleges that the payment remittance firm violated securities laws.
📅 In July 2023, Judge Analisa Torres ruled that XRP, the native token of XRP Ledger, is not a security in its secondary-market transactions. The decision was upheld and cited as precedent in SEC vs. Binance lawsuit, per judge Amy Berman Jackson’s ruling.
📬 Cuban told Politico that the Harris campaign is interested in crypto, among other issues that are being discussed, and the Presidential candidate is considering speaking at the Nashville Bitcoin conference later this week.
📋 SEC vs. Ripple lawsuit is awaiting a final outcome. There’s talk of a closed-door meeting between the two parties on July 25. Find out more about it here:
Ripple stablecoin unlikely to invite legal trouble with SEC, XRP loses key support
Technical analysis: XRP breaks above $0.62 on Wednesday
Ripple is currently in an upward trend, forming higher highs and higher lows since July 8. XRP is likely to extend gains by 10.77% and hit its $0.70 target. The altcoin could find support at $0.5797 and $0.6058 (the 61.8% Fibonacci retracement of the decline from the March 11 top of $0.7440 to the July 5 low of $0.3823).
The momentum indicator, Moving Average Convergence Divergence (MACD), supports XRP gains. The green histogram bars correspond with underlying positive momentum in Ripple’s price trend.
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🚧 Bitcoin Tumbles Below $67K as U.S. Government Moves $2B of 'Silk Road' Tokens
🎲 The government is the owner of about $12 billion worth of seized bitcoin, according to Arkham Intelligence.
♨️ Some $670 million of the assets was forwarded to an address that could belong to an institutional custody or service, Arkham analysts said. Bitcoin dropped nearly 5% from its session highs.
The U.S. government moved $2 billion worth of seized bitcoin (BTC) on Monday, tanking already retreating prices and sparking investor concerns of selling the assets just two days after presidential hopeful Donald Trump's promise to begin stacking BTC.
💢 Blockchain data by Arkham Intelligence shows that a wallet tagged as "U.S. Government: Silk Road DOJ" transferred 29,800 BTC related to the Silk Road website to an unlabeled address with no prior history of transactions. Then, the address forwarded 19,800 BTC and 10,000 BTC to two different addresses.
Arkham analysts suspected that the 10,000 BTC transfer worth $670 million was a deposit to an institutional custody or service.
🎲 The government is the owner of about $12 billion worth of seized bitcoin, according to Arkham Intelligence.
♨️ Some $670 million of the assets was forwarded to an address that could belong to an institutional custody or service, Arkham analysts said. Bitcoin dropped nearly 5% from its session highs.
The U.S. government moved $2 billion worth of seized bitcoin (BTC) on Monday, tanking already retreating prices and sparking investor concerns of selling the assets just two days after presidential hopeful Donald Trump's promise to begin stacking BTC.
💢 Blockchain data by Arkham Intelligence shows that a wallet tagged as "U.S. Government: Silk Road DOJ" transferred 29,800 BTC related to the Silk Road website to an unlabeled address with no prior history of transactions. Then, the address forwarded 19,800 BTC and 10,000 BTC to two different addresses.
Arkham analysts suspected that the 10,000 BTC transfer worth $670 million was a deposit to an institutional custody or service.
🔆 Ripple lawsuit could end in a ruling or settlement this week, final showdown sees XRP sustain above $0.60
🎯 Ripple lawsuit could end by July 31, per the prediction of pro-crypto attorney Fred Rispoli.
💥 XRP traders keep eyes peeled for settlement with the SEC or news of final ruling in the lawsuit.
📈 XRP trades above $0.60, altcoin could collect liquidity prior to nearly 11% gains.
Ripple (XRP) lawsuit brought by the Securities & Exchange Commission could end in July 2024. XRP traders are watching the lawsuit closely for updates on settlement or a final ruling by Judge Analisa Torres.
Ripple’s partial victory in July 2023 cemented XRP’s status as a non-security. It remains to be seen whether the US financial regulator appeals the ruling.
XRP trades above key psychological support at $0.60, early on Monday.
Daily digest market movers: Ripple final showdown with SEC likely this week
• The SEC vs. Ripple lawsuit is a key market mover for XRP. Per pro-crypto attorney Fred Rispoli, Ripple lawsuit could end by July 2024, this week.
• XRP holders expect either a settlement in the SEC lawsuit or a fine, the $10 million proposed by Ripple against over $2 billion asked by the regulator.
• There is legal clarity on XRP’s status as a non-security in secondary market transactions, on exchange platforms. It remains to be seen whether this ruling from July 2023 is appealed by the SEC.
• The news of the closed-doors meeting between the two parties acted as a key market mover for the altcoin.
• Ripple update: What to expect from XRP and Ripple lawsuit this week
• As traders keep their eyes peeled for updates, XRP trades above its psychological support level.
• XRP officially got listed on the Chicago Mercantile Exchange (CME) CF reference rates and real-time indices.
Technical analysis: XRP could sweep liquidity under $0.60 and rally nearly 11%
XRP broke out of its downward trend on July 12, forming higher highs and higher lows consistently. XRP is currently above key psychological support at $0.60, and is likely to sweep liquidity in the Fair Value Gap between $0.5404 and $0.5783, the support zone.
Ripple could extend gains by nearly 11% once the imbalance is cleared and target $0.6666, the 78.6% Fibonacci retracement of the decline from its March 11 top of $0.7440 to the July 5 low of $0.3823.
XRP faces resistance at $0.6058, the 61.8% Fibonacci retracement in the XRP/USDT daily chart.
The momentum indicator, Moving Average Convergence Divergence (MACD) supports the thesis of a liquidity sweep as the MACD line crosses under the signal line on July 29. This means there is underlying bearish momentum in XRP price trend.
A daily candlestick close under the $0.5632, or the 50% Fibonacci retracement level could invalidate the recovery rally thesis and signal an impending correction. Ripple could find support at $0.5205, the 38.2% Fibonacci retracement level.
🎯 Ripple lawsuit could end by July 31, per the prediction of pro-crypto attorney Fred Rispoli.
💥 XRP traders keep eyes peeled for settlement with the SEC or news of final ruling in the lawsuit.
📈 XRP trades above $0.60, altcoin could collect liquidity prior to nearly 11% gains.
Ripple (XRP) lawsuit brought by the Securities & Exchange Commission could end in July 2024. XRP traders are watching the lawsuit closely for updates on settlement or a final ruling by Judge Analisa Torres.
Ripple’s partial victory in July 2023 cemented XRP’s status as a non-security. It remains to be seen whether the US financial regulator appeals the ruling.
XRP trades above key psychological support at $0.60, early on Monday.
Daily digest market movers: Ripple final showdown with SEC likely this week
• The SEC vs. Ripple lawsuit is a key market mover for XRP. Per pro-crypto attorney Fred Rispoli, Ripple lawsuit could end by July 2024, this week.
• XRP holders expect either a settlement in the SEC lawsuit or a fine, the $10 million proposed by Ripple against over $2 billion asked by the regulator.
• There is legal clarity on XRP’s status as a non-security in secondary market transactions, on exchange platforms. It remains to be seen whether this ruling from July 2023 is appealed by the SEC.
• The news of the closed-doors meeting between the two parties acted as a key market mover for the altcoin.
• Ripple update: What to expect from XRP and Ripple lawsuit this week
• As traders keep their eyes peeled for updates, XRP trades above its psychological support level.
• XRP officially got listed on the Chicago Mercantile Exchange (CME) CF reference rates and real-time indices.
Technical analysis: XRP could sweep liquidity under $0.60 and rally nearly 11%
XRP broke out of its downward trend on July 12, forming higher highs and higher lows consistently. XRP is currently above key psychological support at $0.60, and is likely to sweep liquidity in the Fair Value Gap between $0.5404 and $0.5783, the support zone.
Ripple could extend gains by nearly 11% once the imbalance is cleared and target $0.6666, the 78.6% Fibonacci retracement of the decline from its March 11 top of $0.7440 to the July 5 low of $0.3823.
XRP faces resistance at $0.6058, the 61.8% Fibonacci retracement in the XRP/USDT daily chart.
The momentum indicator, Moving Average Convergence Divergence (MACD) supports the thesis of a liquidity sweep as the MACD line crosses under the signal line on July 29. This means there is underlying bearish momentum in XRP price trend.
A daily candlestick close under the $0.5632, or the 50% Fibonacci retracement level could invalidate the recovery rally thesis and signal an impending correction. Ripple could find support at $0.5205, the 38.2% Fibonacci retracement level.
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🪩 SEC Intends to Amend Complaint Against Third Party Tokens (Like SOL) in Binance Case
📨 The SEC intends to amend its complaint against Binance, including with respect to the 'Third Party Crypto Asset Securities," it said in a court filing.
This likely means that the Judge won't have to decide whether 10 tokens such as Solana and Matic are unregistered securities or not.
🇺🇸The U.S Securities and Exchange Commission (SEC) may be dropping it's charges against so-called third party tokens, such as Solana's SOL and Polygon's MATIC, which have been part of its case against Binance, according to a court filing early Tuesday morning.
According to the filing, the SEC has already informed the defendants, Binance and affiliated entities (Binance US and founder Changpeng Zhao), that it "intends to seek leave to amend its complaint, including with respect to the 'Third Party Crypto Asset Securities'. "obviating the need for the Court to issue a ruling to the sufficiency of the allegations as to those tokens this time.
📨 The SEC intends to amend its complaint against Binance, including with respect to the 'Third Party Crypto Asset Securities," it said in a court filing.
This likely means that the Judge won't have to decide whether 10 tokens such as Solana and Matic are unregistered securities or not.
🇺🇸The U.S Securities and Exchange Commission (SEC) may be dropping it's charges against so-called third party tokens, such as Solana's SOL and Polygon's MATIC, which have been part of its case against Binance, according to a court filing early Tuesday morning.
According to the filing, the SEC has already informed the defendants, Binance and affiliated entities (Binance US and founder Changpeng Zhao), that it "intends to seek leave to amend its complaint, including with respect to the 'Third Party Crypto Asset Securities'. "obviating the need for the Court to issue a ruling to the sufficiency of the allegations as to those tokens this time.
♨️ The issue of third party tokens came to a head in a hearing on July 9 when attorneys for Binance said they interpreted Judge Amy Berman Jackson's June 28 ruling on Binance's motion to dismiss the SEC's case as moving third-party tokens out of the case, CoinDesk reported earlier. The Judge made it clear that this was not her intention.
🪙 Third-party tokens are digital assets issued by various companies apart from Binance, that were listed by the crypto exchange. The 10 tokens named in the complaint are SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI. The SEC alleged that these tokens are unregistered securities.
Tuesday's filing was a court ordered joint response to the positions of both sides on how to proceed further. It was expected that the judge would review what role third-party tokens may play in the SEC's ongoing case against Binance. Instead, the SEC appears to have changed its position and is now intending to drop that part of its allegations.
🔆 This development has resulted in the defense wanting to see the amended complaint before allowing the process of discovery.
"Until defendants have a set of proposed amended allegations in front of them, it is premature and unreasonable for the SEC to expect them to agree to conduct merits discovery for claims on which the SEC may soon seek leave to amend its allegations," the filing said.
🪙 Third-party tokens are digital assets issued by various companies apart from Binance, that were listed by the crypto exchange. The 10 tokens named in the complaint are SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI. The SEC alleged that these tokens are unregistered securities.
Tuesday's filing was a court ordered joint response to the positions of both sides on how to proceed further. It was expected that the judge would review what role third-party tokens may play in the SEC's ongoing case against Binance. Instead, the SEC appears to have changed its position and is now intending to drop that part of its allegations.
🔆 This development has resulted in the defense wanting to see the amended complaint before allowing the process of discovery.
"Until defendants have a set of proposed amended allegations in front of them, it is premature and unreasonable for the SEC to expect them to agree to conduct merits discovery for claims on which the SEC may soon seek leave to amend its allegations," the filing said.
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📛 Bitcoin's Future Could be Tied to the Outcome of the U.S. Election: Jefferies
Trump’s policy shift towards crypto is very recent, but it may impact the price of bitcoin in the near term depending on who wins the U.S. election in November, the report said.
⚠️ Trump’s promises to the crypto industry may mean the near-term bitcoin price is tied to the outcome of the election, the report said.
♻️ Jefferies said bitcoin mining profitability following the halving is better than feared at the start of the year.
🔰 Larger bitcoin miners are still in growth mode, the bank said.
🤔 With multiple politicians, both Republican and Democrat, and former president Donald Trump in attendance at the Bitcoin Nashville conference last week, there was a political undertone to the crypto event, investment bank Jefferies said in a research report on Monday.
“His overtures to the industry to install crypto-friendly regulators may have the effect of near-term BTC price being tied to the outcome of the U.S.
Trump’s policy shift towards crypto is very recent, but it may impact the price of bitcoin in the near term depending on who wins the U.S. election in November, the report said.
⚠️ Trump’s promises to the crypto industry may mean the near-term bitcoin price is tied to the outcome of the election, the report said.
♻️ Jefferies said bitcoin mining profitability following the halving is better than feared at the start of the year.
🔰 Larger bitcoin miners are still in growth mode, the bank said.
🤔 With multiple politicians, both Republican and Democrat, and former president Donald Trump in attendance at the Bitcoin Nashville conference last week, there was a political undertone to the crypto event, investment bank Jefferies said in a research report on Monday.
“His overtures to the industry to install crypto-friendly regulators may have the effect of near-term BTC price being tied to the outcome of the U.S.
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Trying To Clear Multiple Resistance Incase Of Successful Breakout Massive Bullish Rally Can Start
Trying To Clear Multiple Resistance Incase Of Successful Breakout Massive Bullish Rally Can Start
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Testing Crucial Trendline Expecting Successful Breakout Successful Breakout Can Lead 2x Bullish Wave In Coming Days
Testing Crucial Trendline Expecting Successful Breakout Successful Breakout Can Lead 2x Bullish Wave In Coming Days