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Latest XRP token updates and Ripple news insights

4 Feb

XRP News: XRP Shows Bullish Signs Amid Global Economic Concerns

According to CoinDesk, the outlook for alternative cryptocurrencies remains uncertain compared to bitcoin, as the possibility of a renewed trade war between the United States and its major trading partners looms, potentially destabilizing the global economy. Despite this, some cryptocurrencies are showing promising signs of growth.One such example is the XRP/BTC ratio, which is indicating a potential bullish trend. For the first time since 2017, the ratio is approaching a move above the upper Bollinger band on the monthly chart. This development suggests a possible significant bull run for XRP. Bollinger bands are volatility indicators that are set two standard deviations above and below a 20-period simple moving average of an asset's price. A break above the upper band typically signals a bullish market imbalance, with prices often maintaining upward momentum for several days.Traders who analyze price patterns often enter long positions when prices surpass the upper band, interpreting it as a sign of bullish market conditions. Breakouts that occur after extended periods of consolidation between the bands are generally considered more reliable. Notably, the XRP/BTC ratio experienced a nearly 200% surge following a Bollinger band breakout in April 2017, which resolved a period of low volatility trading with a bullish outcome. Observers are now watching to see if history will repeat itself in the current market climate.
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31 Jan

XRP Ledger Implements Clawback Amendment To Enhance Liquidity

According to CoinDesk, a significant update went live on the XRP Ledger earlier this Friday following a validator vote that saw over 90% approval. This update introduces a clawback amendment, which allows Ripple's dollar-pegged stablecoin, RLUSD, to be floated and exchanged directly on the XRP Ledger's decentralized exchange (DEX). This development is expected to enhance liquidity and trading options, potentially boosting decentralized finance (DeFi) activities on the network. The clawback feature enables token issuers to reclaim or 'claw back' tokens from users' wallets under specific conditions. This mechanism is typically employed for regulatory compliance, asset recovery in cases of fraud or illegal activities, or when tokens are mistakenly sent to unintended addresses. The recent update aims to improve the regulatory compliance of XRP Ledger’s Automated Market Maker (AMM) pools by allowing tokens with the clawback feature to be utilized. Additionally, it modifies the 'AMMDeposit' transaction type to prevent frozen tokens from being deposited into the AMM. XRP Ledger is equipped with an in-built decentralized exchange (DEX) that facilitates token swaps among users. The Automated Market Maker (AMM) on the XRP Ledger employs liquidity pools instead of traditional order books to enable trades. The AMM functionality was introduced with the amendment XLS-30D in March 2024 and has since processed over $1 billion in swap volumes. January was notably a standout month for the DEX, with over $400 million in trades processed. This latest amendment is expected to further enhance the trading ecosystem on the XRP Ledger, aligning with the growing demand for decentralized financial solutions.
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29 Jan

SEC's Legal Battle with Ripple Enters Critical Phase

According to Odaily, the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple has reached a pivotal stage as the case moves to the Second Circuit Court of Appeals. The SEC has removed the civil lawsuit related to Ripple from its website, signaling a significant development in the ongoing dispute over the classification of XRP. However, a user on X, claiming to be a lawyer, noted that the removal from the SEC's website is not crucial, as the appeal remains active in the national PACER court system. The user mentioned that the latest record shows Ripple requesting an extension for filing briefs, with the case status still marked as 'ongoing,' though changes may occur soon.Ripple's legal team has officially requested to submit a response brief by April 16, 2025, as per documents filed by January 23, 2025. The SEC released its opening brief on January 15, 2025, aiming to overturn key aspects of a previous ruling, particularly concerning the sale of XRP to retail investors. The district court had previously determined that while XRP itself is not a security, Ripple's direct sales to institutional investors constituted securities transactions. Tokens sold through secondary trading platforms did not meet the securities criteria. The SEC now argues that retail investors expected profits based on Ripple's promotional activities.Ripple CEO Brad Garlinghouse commented on the appeal, stating, "Doing the same thing over and over again and expecting different results." Ripple's Chief Legal Officer Stuart Alderoty described the appeal as a "rehash of already failed arguments." The initial $125 million civil penalty against Ripple remains in effect, significantly lower than the SEC's original demand of $1 billion. The outcome of this appeal is anticipated to impact the regulatory framework for digital assets and their classification in the United States.
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