According to U.Today, Ripple CEO Brad Garlinghouse has given an update on the company's ongoing legal battle with the Securities and Exchange Commission (SEC). During his recent appearance at XRP Apex 2024, Garlinghouse stated that the lawsuit is nearing its conclusion. He suggested that the case could be resolved by the end of summer, although the exact timing is dependent on the judge's decision.
In other cryptocurrency news, financial analyst John Bollinger has shared his insights on Bitcoin's recent price volatility. Over the past few weeks, Bitcoin's price has seen dramatic fluctuations, peaking around $70,000 before experiencing a 4% drop. Bollinger suggested that extended periods of price consolidation could lead to significant price gains, citing the market principle, 'the bigger the base, the higher in space.' The key question now is whether Bitcoin will maintain its current level or experience further changes.
Lastly, the meme token Shiba Inu (SHIB) is approaching a critical price threshold. The 200-day Exponential Moving Average (EMA) is expected to become the primary support level for SHIB. If the token can maintain its position above this level, a major price reversal could occur. However, if this support is not maintained, SHIB could face further declines and a bearish trend. Factors such as positive news in the Shiba Inu ecosystem, market recovery, or increased interest from institutional investors could potentially trigger a price reversal.