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XRP Lawsuit: Ripple Moves to Shake Things Up With the SEC With $6 XRP Price Highly in View
Ripple has submitted a response letter bolstering its Motion to Seal documents amid the ongoing legal clash with the U.S. Securities and Exchange Commission (SEC). This move by Ripple aims to maintain confidentiality around certain materials filed in connection with the SEC’s Motion for Judgment and Remedies.
James K. Filan, a prominent figure in the XRP community, shared insights on Thursday regarding Ripple’s recent legal maneuver. Notably, Ripple’s submission, addressed to Hon. Analisa Torres of the United States District Court in New York, argued that disclosing current financial statements, especially those pertaining to years following the alleged misconduct, is irrelevant to the court’s analysis.
Notably, the company argued against the SEC’s claim that information about Ripple’s financial condition is crucial to determining remedies for its historical conduct. Furthermore, Ripple emphasized the need to maintain confidentiality around past contracts, highlighting potential leverage future counterparties could gain if such details were made public.
The reply letter also rebutted the SEC’s assertion that Ripple’s historical contracts are no longer relevant due to changes in its XRP sales methods. Ripple clarified that while its sales approach may have evolved, the terms of past contracts remain commercially significant and could provide valuable insights into the company’s current business practices.
The letter comes even as Ripple’s CEO, Brad Garlinghouse, actively advocates for favorable cryptocurrency regulations alongside those of other industry leaders. Recently, the businessman applauded the passage of the FIT21 bill, which is seen as a legislative victory for the crypto community, while expressing confidence in Ripple’s favorable outcome in the SEC lawsuit.
That said, amidst these legal developments, XRP’s price struggles to gain momentum, with months of consolidation resulting in a Doji Candle formation on the monthly timeframe, indicating indecision among buyers and sellers.
Nonetheless, amid this weakness, various analysts remain bullish. Crypto analyst Babenski predicts a breakout for XRP, suggesting that the altcoin is on the verge of breaking out of its seven-year accumulation trend.
In a tweet, the pundit presented a chart showing he anticipates XRP breaking out of a bullish symmetrical triangle pattern. He projects a surge of over 1,100% to reach $6, thus setting a new all-time high for the coin.
This sentiment is echoed by other analysts, including U-Copy, who suggested that XRP’s price is nearing the end of its triangle formation, potentially indicating an imminent breakout. While U-Copy refrained from specifying a target price, the analyst anticipates significant XRP price movement by December 2024.
At press time, XRP was trading at $0.5213, reflecting a 0.43% drop over the past 24 hours.
#Binance #Binance Notcoin (symbol NOT) is a new digital currency $BNB launched by the Binance platform through the Binance Launchpool service. The Notcoin project aims to offer users an opportunity to earn cryptocurrencies through a process called “earn per click,” which is part of a Web 3 integration effort.
#solana I think holding below the resistance level for a few days has attracted huge interest for $SOL , as the price is showing tremendous upward momentum. Although trading volume has decreased somewhat, momentum remains high. On the other hand, Bitcoin price maintains an upward consolidation, which enhances some confidence among market participants. Therefore, considering the market dynamics and technical formations, it can be said that SOL price is poised to reach $200 in the next few days. Solana price appears to be in the middle of a parabolic recovery after facing rejection several times at the $200 barrier. However, an upward trajectory remains imminent, as the token appears poised for an upward consolidation. However, the question remains whether the bulls will be able to sustain the growth or if another rejection above $200 might make its way out. The symbol made a long parabolic recovery, but faced a slight pullback towards the immediate lower support level, which forms the handle of a cup and handle pattern. The recent rebound also shows the potential for the price to start a new rally, which could lead to a new bullish rally targeting a new all-time high (ATH). The Relative Strength Index on the weekly chart remains close to the upper border, indicating that the price still maintains significant upward momentum. Therefore, it is necessary for Solana price to close the day trading above $180 and close
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Grayscale GBTC's BTC Holdings Decrease By Over 50%
According to PANews, Grayscale GBTC currently holds 285,126 BTC, a decrease of more than 50% from the 620,000 BTC it held when it converted to a spot ETF on January 10, 2024. This information was monitored and reported by HODL15Capital. The significant reduction in BTC holdings indicates a shift in Grayscale GBTC's investment strategy or possibly a large-scale sell-off. However, the specific reasons behind this decrease have not been disclosed. Further updates will be provided as more information becomes available.
Instant Bitcoin Funds vs. Buying Bitcoin Who is Better?
After Bitcoin spot funds have been approved, it is better to buy Bitcoin directly or through Bitcoin spot funds After the Bitcoin Spot ETF received approval, the differences between it and Bitcoin itself were significantly reconsidered. What is the best investment option: buy Bitcoin directly or an ETF? In this article, I examine the advantages and considerations of investing in ETFs.
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#CryptoRegulation The ongoing legal battle between Ripple and the Securities and Exchange Commission has taken center stage in the cryptocurrency community. Ripple's CEO has called for the resignation of the head of the Securities and Exchange Commission amid speculation about the launch of an ETF, while the SEC has called for a nearly $2 billion fine against Ripple. With the value of XRP hovering below the major exponential moving averages, the market is watching closely as the lawsuit develops, which could set a precedent for the future of cryptocurrency regulations. Stay tuned for what's next in this high-stakes saga. #XRPLawsuit2403325290#SEC #StartInvestingInCrypto#Binance $BTC $ETH $XRP
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#Binance #Binance , one of the most prominent digital currency trading platforms in the world, announced the launch of a new platform dedicated exclusively to stable currencies. This step comes as part of the company's efforts to promote adoption of this type of digital assets, which enjoy high liquidity and low price volatility. Available stablecoins: A wide range of major stablecoins will be listed on the new platform, including $USDC, BUSD, DAI, TUSD $TUSD, GUSD, and SUSD. These currencies, which are pegged to fiat currencies such as the US dollar and European currencies, will provide traders with various options to hedge risks and invest in low-volatility digital assets. The goal of the new platform: Through this new platform, Binance aims to provide a safe and reliable trading environment for investors looking for digital assets with low risks. It will also contribute to enhancing the adoption of stable currencies in the digital market as a whole, supporting the stability and liquidity of this sector. Conclusion: This move by Binance underscores the importance of stablecoins as an effective tool for hedging and investing in the digital market. This new platform is expected to be very popular with traders looking for safe and reliable investment options.