Ripple Partners with Dubai International Financial Centre to Boost Blockchain Innovation$XRP

Important Developments of the Week

On Monday, August 12, Elon Musk will interview Donald Trump on the X broadcast.

On August 13, at 15:30, the US Producer Price Index (PPI) will be announced.
•Expectation: 0.1% •Previous: 0.2%

On Wednesday, August 14, at 16:30, the European Region Gross Domestic Product (GDP) will be announced.
Expectation: 0.6% Previous: 0.4%

On Wednesday, August 14, at 15:30, the US Consumer Price Index (CPI) will be announced.
•Expectation: 2.9% •Previous: 3.0%

On Thursday, August 15, at 15:30, US Unemployment Benefits Applications will be announced.
•Expectation: 232K •Previous: 233K

FTX refund process voting ends on Friday, August 16th.

Ripple’s Price Rises Amid Market Uncertainty
According to CryptoPotato, Ripple experienced a significant price drop to the critical support level of $0.43, which subsequently attracted significant buying pressure. This increase pushed the price above the 100- and 200-day moving averages, leaving market participants uncertain about the future direction of XRP. The upcoming moves are expected to provide more clarity on the trend.
Analysis of Ripple’s daily chart reveals that after falling below the 100- and 200-day moving averages, the price reached a significant support area at $0.43, causing fear in the market. However, this level saw significant buying interest, which led to a bullish recovery and a pullback to the broken upper boundary of a multi-month descending channel. XRP managed to reclaim the critical 100- and 200-day moving averages, indicating a possible bullish trend. Currently, Ripple is in a decisive price range with significant support at the 200-day moving average around $0.54 and significant resistance at $0.64. A breakout from this range will likely determine the next move. On the 4-hour chart, Ripple faced strong selling pressure near the critical resistance at $0.64, which resulted in a sharp decline towards the important support area defined by the Fibonacci levels of $0.5 ($0.52) and $0.618 ($0.48). As expected, buying pressure emerged at this critical support, pulling the price back towards the major resistance at $0.64. XRP currently remains in a significant range with resistance at $0.64 and support at $0.55. A breakout from this range will likely determine the direction of the next significant price move. Considering the recent price action, the market turmoil could be seen as a temporary correction, with the potential for a fresh increase to reclaim the $0.64 resistance area.$XRP

Celsius sues Tether.

FTX Customer Compensation Plan Voting to End August 16
According to BlockBeats, the voting period for the FTX customer claims plan will end at 4:00 p.m. on August 16, according to the Kroll voting interface.

In mid-July, the FTX Unsecured Creditors Official Committee (UCC) announced that it was distributing comments and ballots to customers and creditors via Kroll to vote on the FTX debtors’ customer claims plan. Customers and creditors who hold and file claims in fiat or cryptocurrency other than FTT are eligible to vote. The UCC urged all eligible participants to vote in favor of the plan.$FTT

Ripple announced that it has started testing its new stablecoin RLUSD on the XRP Ledger and Ethereum network.$XRP

I thought about it a little and saw that all the phenomena are saying 35k will come. If it goes up a little bit, the same people are writing again, we are flying and running away, 100k etc. 😂😂😂

XRP Outperforms Crypto Market with Significant Gains
XRP has broken away from the broader cryptocurrency market with a remarkable performance in daily gains, according to CryptoPotato. While other assets have struggled, XRP saw a sharp price increase of almost 20% over the past day, reaching $0.64 on Thursday before pulling back slightly to $0.61. This uptrend has culminated in an impressive 42% gain over the past month. The bullish trend is being supported by whale wallets accumulating a significant amount of tokens, setting a new record.
XRP’s market cap has increased by 23% in the past 24 hours. Santiment’s latest findings suggest that this growth coincides with significant whale accumulation. Wallets holding between 1 million and 10 million tokens on the XRP Ledger now collectively hold 7.06 billion coins, worth around $4.42 billion. In August alone, these whale assets accumulated over 662 million XRP, indicating growing confidence in the asset. Additionally, XRP saw a dramatic increase in social media discussions, reaching its highest levels since January 30. The rising market cap, whale accumulation, and increased social activity indicate increasing investor interest and speculation around XRP’s future price trajectory. According to CoinGlass data, the recent price surge has also caught future investors off guard, leading to the liquidation of $7 million worth of short positions in XRP in the past 24 hours. This renewed positive sentiment follows a significant development in the legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). A New York federal judge has moved toward concluding a three-year securities lawsuit against Ripple Labs, which executives hailed as a major victory for the industry. On August 7, the judge imposed a $125 million civil penalty on the blockchain firm. $XRP

CFTC Issues $12.7 Billion Judgment Against FTX and Alameda.$FTT

Elon Musk, who bought Twitter for $44 billion:

The $44 billion was not the cost of Twitter; it was the cost of bringing back 'free speech'.

Supreme court panel postpones Do Kwon's extradition to South Korea pending ruling on legality protection request$LUNC
$LUNA

BREAKING NEWS!

Putin signs law that will legalize crypto mining in Russia starting in November.$BTC

$TON what are your expectations?

Kamala Harris' team has launched a group called "Crypto for Harris." A meeting with representatives of the crypto industry and politicians is planned for next week.$BTC

I've been looking since last night and everyone is $XRP th 😊

Harris’ Election Probability Surpasses Trump’s on Polymarket
According to Odaily, prediction marketplace Polymarket has shown a shift in probabilities for the 2024 US presidential election. Kamala Harris’s probability of winning the election has increased to 50%, surpassing Donald Trump’s probability, which has dropped to 49%.

Court approves $12.7 billion settlement between FTX, Alameda, and CFTC; all of that money will be returned to FTX users.$FTT

BREAKING: the final ruling in the SEC vs Ripple lawsuit has been issued by Judge Torres: Ripple must pay $125 million to the SEC. #XRP NOT A SECURITY.$XRP

Crypto Market Sees $169 Million in Liquidations in 24 Hours
According to PANews, data from Coinglass shows that the crypto market saw significant liquidations of $169 million in the last 24 hours. Long positions accounted for $106 million of this total, while short positions accounted for $63.74 million. Bitcoin (BTC) saw liquidations totaling $49.59 million, while Ethereum (ETH) saw liquidations totaling $52.49 million.$BTC
$ETH

A man in America returned a $5 bottle of fruit juice he bought from a supermarket because his wife thought it was expensive.

A man who bought a lottery ticket with the money he got back won a jackpot of $315 million.

What do you think, will we be lucky one day?