With the SEC demanding a nearly $2 billion fine from Ripple, we’ve highlighted the amount of XRP the company might sell to meet this obligation if the court sides with the regulatory agency.

Read more on: https://thecryptobasic.com/2024/03/30/heres-how-much-xrp-ripple-might-sell-to-pay-sec-2b/
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Ripple’s RLUSD stablecoin transfers fuel speculation, with XRP price rally potential as analysts foresee increased demand pushing toward $2.

RLUSD Stablecoin Sees Substantial Transfers Ahead of Launch
According to Ripple Stablecoin Tracker, Ripple recently moved 294,000 RLUSD stablecoin tokens across high-volume transactions, sparking XRP price rally speculations. The largest transfer recorded was 78,500 RLUSD, initially moved from Ripple’s Treasury to unknown wallets and later transferred between unidentified wallets.
Other significant movements included transfers of 68,500 RLUSD and 58,500 RLUSD between various wallets. These transfers mark the first notable movements since the RLUSD minting process ended on October 26, indicating possible final preparations for the stablecoin’s launch.
Source: x (formally twitter)
Speculation around the motives behind these transfers has grown, with market analysts proposing several potential reasons. Some suggest that Ripple might be testing wallet functionality and liquidity management before the public release of the RLUSD stablecoin. These transactions, occurring just weeks before the launch are strategic moves to ensure sufficient liquidity and efficient operations for early trading.

Ripple’s Parallel XRP Transfer Fuels Investor Curiosity
In addition to RLUSD stablecoin movements, Ripple transferred 470 million XRP tokens on November 6, valued at approximately $250.45 million. This transaction led to considerable speculation among investors. The purpose of this significant XRP transfer remains unconfirmed, though some analysts believe it may relate to Ripple’s On-Demand Liquidity (ODL) service, which supports cross-border payments using XRP.
On-chain data revealed that the wallet receiving this large XRP transfer subsequently moved 100 million XRP to another address, valued at $53.27 million. However, Ripple has not made any official statements regarding the purpose of these XRP movements.
However, the upcoming launch of RLUSD stablecoin has prompted discussions about its impact on XRP price. Some analysts speculate that the stablecoin’s introduction may drive increased demand, pushing XRP price toward $2 in the long term.
Moreover, technical analysis suggests XRP is currently range-bound, with resistance at $0.556 and $0.6. Nonetheless, the Ripple token’s recent surge to a monthly high has sparked optimism for a potential rally toward $1, driven by speculation around SEC leadership changes.

Recommendations, suggestions, views and opinions given by the experts are their own not financial advice. You must do your own research before investing crypto markets. Crypto Wolf always trying to share valuable news for trading, staking, investing after our own research. Information source online media.

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The SEC and Ripple have filed new motions relating to the remedies phase of their ongoing legal battle. 
Read more on: https://thecryptobasic.com/2024/01/12/heres-the-latest-update-on-ripple-vs-sec-as-both-parties-file-new-motions/
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In the wake of Donald Trump’s victory in the US presidential election, crypto industry giants like Ripple and Coinbase are anticipating significant regulatory shifts. Trump has expressed a pro-crypto stance and has indicated his intention to replace Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” of his administration. This move could lead to a substantial shift in how the SEC handles ongoing crypto cases, including those against major companies like Coinbase and Ripple.

Will Trump’s SEC End The Coinbase And Ripple Cases?
The prospect of Trump appointing a crypto-friendly SEC chair—potentially someone like Commissioner Hester Peirce—raises questions about the future of the SEC’s current enforcement actions. FOX Business journalist Eleanor Terrett sought insights from Coinbase’s Chief Legal Officer, Paul Grewal, regarding these potential changes.
““I think the new administration will take a fresh look at all the existing crypto cases brought under Gary Gensler and distinguish between the ones aimed at what are clearly scams and fraud and ones that are not,”” Grewal told Terrett.

While Grewal did not explicitly predict that the cases against Coinbase and Ripple would be withdrawn, he expressed confidence that new leadership and clearer regulations would prompt a reevaluation. “Grewal stopped short of saying he believed the cases against Coinbase and others under fire for alleged securities violations would be withdrawn but seemed confident a change at the top and clear rules will warrant a fresh pair of eyes,” Terrett explained.

Notably, Grewal also took to X to share his thoughts: “I hope SEC understands what has happened tonight. On many, many issues, the voters said loud and clear that they want change. Crypto is no exception. Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There’s no reason to wait
Coinbase CEO Brian Armstrong also weighed in, describing the election as “a huge win for crypto.” He highlighted that crypto support played a key role in Bernie Moreno’s victory over Senator Sherrod Brown in Ohio, noting that Brown was “one of the most anti-crypto senators out there.” Armstrong added that the “full-throated support of the winning presidential candidate” and the election of 257 pro-crypto candidates in the House signal a pro-crypto shift in Congress.
Armstrong asserted that the country has “fully repudiated the work of Senator Warren and Gary Gensler, who tried for years to unlawfully kill our industry.” He suggested that being anti-crypto is now “a good way to end your career,” as it doesn’t align with voters who are “disaffected by the current financial system and want change.”
Ripple’s leadership echoed similar sentiments. CEO Brad Garlinghouse, while refraining from discussing the ongoing lawsuit with the SEC, applauded Trump’s win and provided a first 100-day checklist for the new administration, as reported by Bitcoinist on Wednesday. He urged Trump to “fire Gensler” without delays and to appoint replacements like Chris Giancarlo, Brian Brooks, or Dan Gallagher, who he believes would be “massive upgrades in rebuilding the rule of law (and reputation) at the SEC.”

Garlinghouse also called for bipartisan efforts to advance the digital asset market structure bill in the Senate and sought regulatory clarity on cryptocurrencies. He questioned, “Can we get some clarity… similar to XRP and BTC, that ETH is not a security, right?!”
At press time, XRP traded at $0.55.
Source: Trading View
Recommendations, suggestions, views and opinions given by the experts are their own. You must do your own research before investing crypto markets. Crypto Wolf always trying to share valuable news for trading, staking, investing after our own research. Information source online media.

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#Bitcoin just hit a high not seen since April 2022, riding the wave of excitement over finally approved US spot ETFs. But hold on, before we celebrate prematurely, there's another story unfolding. The price took a dip after the initial surge, suggesting a "sell-the-news" scenario familiar to seasoned investors.
But why the mixed signals? Well, the rally leading up to the ETF approval was explosive, leaving some expecting fireworks that never materialized. Regardless, a multinational bank is already singing Bitcoin's praises, predicting a potential near-$200,000 price tag by next year. Their optimism hinges on continued ETF success and, potentially, a massive $50 to $100 billion cash injection into the $BTC ecosystem.
Intrigued? Dive deeper into the week's hottest crypto stories below – there's more to unfold than you might think!
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TOP CRYPTO NEWS RECAP (JANUARY 7–JANUARY 13, 2024)
●      US Approves First Spot Bitcoin ETF: Experts Predict Market Impact and Retail Adoption Surge
●      SEC's Lack of 2FA Leads to Fake Bitcoin ETF Approval in Twitter Hack
●      Circle Internet Financial Files Confidentially for U.S. IPO, Aims to Go Public
●      Former FTX CEO Sam Bankman-Fried Retains New Legal Team Ahead of Sentencing on Seven Criminal Charges
●      Ethereum Co-founder Vitalik Buterin Advocates 33% Gas Limit Increase for Improved Network Throughput
●      SEC Seeks Court Order for Ripple's Financial Statements Amid Ongoing Legal Battle
US Approves First Spot Bitcoin ETF: Experts Predict Market Impact and Retail Adoption Surge
The U.S. Securities and Exchange Commission (SEC) officially approved the first regulated spot Bitcoin exchange-traded fund (ETF). This move is expected to make Bitcoin more accessible to retail investors, with 11 Bitcoin ETFs, including those from Grayscale, BlackRock, and Fidelity, gaining approval. Experts predict significant inflows, with Valkyrie anticipating $400 million in assets within weeks. 
The approval could pave the way for a spot Ethereum ETF. While some experts believe institutions may be cautious due to associated fees, others foresee increased institutional participation, potentially boosting market liquidity. Challenges include counterparty risks and potential market price dislocations. Newly launched Bitcoin ETFs saw $1.4 billion in inflows in the first two trading sessions, aligning with earlier predictions.
SEC's Lack of 2FA Leads to Fake Bitcoin ETF Approval in Twitter Hack
The United States Securities and Exchange Commission (SEC) faced embarrassment as the X safety team revealed that the SEC's official Twitter account lacked two-factor authentication (2FA), leading to a SIM swap attack. 
A hacker gained control of the SEC's account and falsely announced the approval of a spot Bitcoin ETF. Senators and members of Congress are now demanding investigations into the SEC's cybersecurity practices, criticizing its failure to follow protocols and potentially compromising market stability.
Circle Internet Financial Files Confidentially for U.S. IPO, Aims to Go Public
Circle Internet Financial, the issuer of the USD Coin (USDC), the second-largest stablecoin, has confidentially filed for a U.S. initial public offering (IPO). The move is part of the company's strategy to become publicly traded. 
According to Reuters, Circle did not disclose the number of shares or the proposed price range. The IPO is contingent on SEC approval and market conditions. Circle had initially planned to go public in 2022 but abandoned the deal, citing timing issues. USDC is the seventh-largest cryptocurrency globally, with a market capitalization of $25 billion.
Former FTX CEO Sam Bankman-Fried Retains New Legal Team Ahead of Sentencing on Seven Criminal Charges
In a filing on Jan. 9, Torrey Young and Marc Mukasey of Mukasey Young LLP revealed their representation of Sam Bankman-Fried, the former FTX CEO, ahead of his sentencing for wire fraud, securities fraud, and other charges. 
Bankman-Fried's conviction in November 2023 is now followed by a change in legal counsel, possibly signaling an appeal. His sentencing is scheduled for March 28, 2024, amidst uncertainties surrounding the reasons for the shift in legal representation.
Ethereum Co-founder Vitalik Buterin Advocates 33% Gas Limit Increase for Improved Network Throughput
In a recent Reddit AMA, Ethereum co-founder Vitalik Buterin proposed a "modest" 33% increase in the gas limit to around 40 million. Noting the absence of a gas limit increase in nearly three years, Buterin believes the adjustment would enhance network throughput. 
The gas limit determines the maximum gas for executing transactions on Ethereum. While increasing the limit theoretically boosts network capacity, it also raises concerns about hardware load and potential network spam. The proposal aims to adapt to growing transaction demands and improve overall network performance.
SEC Seeks Court Order for Ripple's Financial Statements Amid Ongoing Legal Battle
The U.S. Securities and Exchange Commission (SEC) has filed a motion urging a federal court to compel Ripple to produce financial documents related to its enforcement action. The request specifically targets Ripple's financial statements from 2022 to 2023 and contracts governing 'Institutional Sales,' following a judge's ruling in July that categorized XRP as a security only when sold to institutional investors. 
The SEC aims to use this information to determine appropriate remedies, such as injunctions and civil penalties, after finding Ripple liable for violating securities regulations. Ripple has requested additional time to respond.
•••
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$1,000 price target remains extremely ambitious for XRP, five bullish factors are capable of catalyzing a push toward this direction.
Smart Contracts on the XRP Ledger
Ripple’s push to integrate smart contracts into the XRP Ledger (XRPL) could be a major catalyst. The company is planning to launch an Ethereum Virtual Machine (EVM) sidechain on the XRPL, allowing it to support decentralized applications (dApps) and smart contracts.
Ripple is also exploring programmability through native smart contracts. This development could expand the use cases of XRP by attracting decentralized finance (DeFi).

Launch of Ripple’s RLUSD Stablecoin
Ripple’s stablecoin, RLUSD, is expected to launch in the next few weeks, according to Ripple CEO Brad Garlinghouse. He announced at Korea Blockchain Week last month that the USD-pegged stablecoin will be integrated directly into the XRP Ledger, aiming to boost liquidity and adoption. RLUSD could provide much-needed stability to XRP users and increase demand, particularly within the financial services sector. Ripple has already announced its initial exchange partners for the stablecoin, now awaiting regulatory approval to launch.

Ripple IPO
Ripple has been hinting at an initial public offering (IPO) for years, and many in the crypto space expect it to happen soon. The IPO could inject significant capital into Ripple, improving its ability to scale and develop new services.
More importantly, an IPO would boost XRP’s visibility and attract institutional investors, who may see Ripple’s equity as a gateway into the broader crypto market.
However, the timing of the IPO is still unclear, especially with Garlinghouse recently ruling out a U.S. public offering. Despite this, some argue that such an IPO in the U.S. is still possible, especially with the expected shift in regulatory environment from the recent Trump victory.
Launch of a Spot XRP ETF
The launch of a spot XRP exchange-traded fund (ETF) could be another catalyst. If introduced, a spot ETF would allow institutional investors to gain exposure to XRP without needing to hold the asset directly.
The XRP market recently witnessed the launch of XRP futures contracts, a major step toward a spot ETF. However, the SEC has been hesitant to approve crypto ETFs, especially those tied to digital assets other than Bitcoin and Ethereum.
Despite this, three major asset managers, Canary Capitals, Bitwise and 21Shares, have all filed to launch an XRP ETF. In addition, Grayscale, the world’s largest digital asset management firm, has also filed to convert its multi-asset GDLC Trust, which contains XRP, to an ETF.
Increased XRP Adoption by Financial Institutions
Ripple’s partial victory over the SEC in July 2023 removed a major cloud hanging over XRP’s potential. Since the court ruled that XRP is not a security, institutions previously cautious about using or holding XRP might now be more willing to adopt it.
Several banks and financial institutions have already been testing Ripple’s technology for cross-border payments. Increased adoption of Ripple’s payment solutions could help boost XRP demand, but widespread institutional use is still speculative.

Disclamation: Recommendations, suggestions, views given by the crypto experts. It’s not financial advice. You must do your own research before investing crypto markets. Crypto Wolf is always trying to share valuable news for trading, staking, investing after our own research. Information source crypto experts analysis.

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Ripple has filed an opposition to the SEC’s motion to compel certain post-complaint discovery. 
Read more on: https://thecryptobasic.com/2024/01/20/ripple-vs-sec-lawsuit-latest-update-ripple-cites-2-reasons-why-court-should-deny-sec-motion/
#RippleVsSEC #RippleSECSettlement #cryptocurrecny #CryptoNewsLand #CryptoNews🔒📰🚫

Top analyst Dark Defender has outlined why the XRP price is set to flip the Ethereum price in this market cycle.
Why The XRP Price Can Flip The Ethereum Price
In an X post, Dark Defender outlined five reasons why the XRP price can flip the Ethereum price. First, he cited Judge Analisa Torres’ ruling that XRP is not a security in itself, which he believes is a huge positive for the coin.

Secondly, he alluded to the numerous developments that Ripple has secured. While he didn’t mention these developments, this could include recent developments such as the crypto firm gaining the DFSA approval to expand its payment services to the UAE.

Dark Defender further alluded to Central Bank Digital Currencies (CBDCs) and upcoming currencies such as the RLUSD stablecoin, which is another reason he is confident that the XRP price can flip the Ethereum price. A recent development also indicates that Ripple is eyeing a potential Dirham-backed stablecoin launch in the UAE.

Lastly, the analyst mentioned that the US is set to become a crypto-friendly environment under pro-crypto President-elect Donald Trump. Despite these reasons, XRP will flipping Ethereum will be a huge task.
Ethereum is currently the second-largest crypto with a market cap of $365 billion, while XRP is the seventh-largest crypto with a market cap of $31 billion. However, it is worth mentioning that XRP was the second-largest crypto ten years ago, just behind Bitcoin.

Time To Also Dominate Bitcoin
Dark Defender also indicated that the XRP price could challenge Bitcoin’s dominance for the reasons he mentioned. He remarked that XRP will take over its crown from BTC by being the only crypto asset with regulatory clarity.

However, Bitcoin’s non-security status has never really been in doubt. The US Securities and Exchange Commission (SEC) Chair Gary Gensler has admitted that the flagship crypto isn’t a security. This is also why the Commission didn’t object to issuers filing S-1 forms for the Bitcoin ETFs before their subsequent approval.
Meanwhile, the analyst also suggested that a bull run is set to soon begin for the XRP price. Specifically, he said this XRP bull run will begin on November 24. He is confident this will happen because he claims that Bitcoin Dominance has had its reversal in the monthly RSI as it did in January 2021. When this happened in 2021, XRP rallied from $0.170 to $1.966.
Image source: x formally twitter
Crypto analyst Mikybull Crypto also provided a bullish outlook for the XRP price. In an X post, he stated that a huge acceleration is coming. He cited the coin’s performance after the past election cycles, and a massive rally usually follows. The accompanying chart he shared showed that $19 was a possible target.
Image source: Trading View

Disclamation: Recommendations, suggestions, views given by the crypto experts. It’s not financial advice. You must do your own research before investing crypto markets. Crypto Wolf is always trying to share valuable news for trading, staking, investing after our own research. Information source trading view, x (twitter) and online media.

#XRPPredictions #XRPVSSEC #RippleSECSettlement #Ripple💰 #Rippleprediction

Ripple's $1.3 target remains intact despite Powell's controversial remarks about vacating office. Will XRP price break past $0.65 resistance?
Will Powell’s Remarks Affect XRP Price?
Fed Chair Jerome Powell said on November 7 that he would not resign, and President-elect Donald Trump asked him to do so. He said presidents need the legal authority to remove a US central bank chief. These remarks arose after a journalist from Politico inferred that some of Trump’s advisors suggested that Powell resign.

After announcing that the Fed has lowered interest rates to a range of 4.5% to 4.75%, the second straight rate cut following a large 50 bps reduction in September, Powell delivered the speech.
Image Source: Tradingeconomics
Powell’s remarks did not affect XRP price as the crypto market positively reacted to the rate cut, sending Bitcoin price above $76,600.

Powell’s claim is backed by law. Although the Fed has long been seen as an impediment to decentralized finance (DeFi) because it is the sole fiat producer in the United States, the crypto community will have to wait until its term in office expires in May 2026.
The price of XRP trades at $0.5498 on November 8, having dropped 1.4% in the last 24 hours. XRP has been eyeing a major breakout for some time now, which could catapult it up 139% beyond yearly highs.

XRP Price Analysis: $1.3 Target Still In Play
The Ripple chart shows a consistent downward trend within a descending channel since late 2021. The price remains within this channel, indicating sustained bearish pressure over the long term.

The key support is around $0.47 (lower bound of the channel), while the resistance is on the upper boundary of the descending channel, currently around $ 0.65.
The price of XRP trades at $0.5498 on November 8, having dropped 1.4% in the last 24 hours. XRP has been eyeing a major breakout for some time now, which could catapult it up 139% beyond yearly highs.

The price is pushing towards the upper boundary of the descending channel, indicating potential testing of resistance. A breakout here could suggest a shift in momentum, rising 139% to reach $1.3. It would be the first time the XRP price has exceeded the $1 mark since 2022.
Image Source: Trading View
The Relative Strength Index (RSI) is at 50.28 at the midpoint, which suggests that bears and bulls are fighting it out to see the winner. The RSI also points upward, showing that buying pressure could be building to propel the price.

If the XRP price breaks below the midline of the falling wedge, it would have invalidated the current bullish thesis as it would seek lower support around $0.35. A breakdown from from the falling channel would turn Ripple bearish.

Recommendations, suggestions, views and opinions given by the experts are their own not financial advice. You must do your own research before investing crypto markets. Crypto Wolf always trying to share valuable news for trading, staking, investing after our own research. Information source online media.

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April 2024 will be a crucial month for Ripple and XRP as the crypto payments company continues its legal tussle with the SEC and Zakinov. 
Read more on: https://thecryptobasic.com/2024/01/06/heres-why-april-will-be-a-crucial-month-for-ripple-and-xrp/
#RippleSECSettlement #XRX/USDT #XRPBreakout #cryptocrurrency #CryptoNews🔒📰🚫