XRP ETF 'Very Soon,' Likely Next After Bitcoin And Ethereum, Ripple President Says.
Ripple President Monica Long has stated that an XRP spot exchange-traded fund (ETF) is likely to be approved “very soon,” and is expected to be next in line after the recently approved Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs. $XRP #USJobsSurge256K #USJoblessClaimsDrop
Why Is the Crypto Market Dropping? 3 Key Reasons Behind the Recent $BTC and Crypto Decline
1. Stronger U.S. Jobs Data Recent U.S. job openings data came in at 8.096M, surpassing the expected 7.605M. Strong economic data reduces the likelihood of rate cuts by the Federal Reserve, which is typically bearish for risk-on assets like cryptocurrencies.
2. New Pandemic Concerns Fears of a new virus, HMPV, have emerged, with a few cases reported globally. This has sparked panic among investors, drawing comparisons to the uncertainty caused by COVID-19 in 2020.
3. Rising Oil Prices Russia and OPEC members have tightened oil supply, pushing prices higher. Elevated oil prices could lead to increased inflation, reducing the Fed's ability to implement aggressive rate cuts.
While these factors have contributed to the sell-off, it seems investors may be overreacting. A reversal is likely on the horizon, and the crypto market could soon experience a powerful rally.
CRYPTO UPDATE: Rumors of a Ripple Labs Acquisition Surface 🚨
Speculation is swirling about a potential $25 billion acquisition of Ripple Labs, the company behind XRP. However, no official confirmation has been made regarding such an offer. Here’s the latest on this developing story:
Key Points:
Unverified Claims: Reports suggest a possible $25 billion buyout of Ripple Labs, but these claims lack verification from credible sources.
Ripple Labs & XRP: Ripple Labs, the driving force behind XRP, is a major player in the cryptocurrency space.
Potential Market Impact: If true, an acquisition of this scale could significantly influence XRP’s price and adoption. For now, any market reactions to these rumors should be approached with caution.
XRP Market Snapshot:
Current Price: $2.18
Recent Movement: XRP has seen a 2.35% uptick since the last close.
Considerations:
Regulatory Hurdles: Any acquisition would likely face extensive regulatory scrutiny, especially given Ripple's ongoing legal disputes with the SEC.
Market Volatility: Cryptocurrency markets are inherently volatile. Until official announcements are made, price movements driven by these rumors should be treated with skepticism.
Bottom Line:
The rumors of a Ripple Labs acquisition remain unconfirmed. Investors should remain cautious and rely on verified information before making decisions.
Do you think a potential acquisition of Ripple Labs could reshape XRP’s future? Share your thoughts. $XRP
Elon Musk makes a 'Wikipedia request' to his supporters, just after saying $1 billion 'name change' offer stands.
Elon Musk has made a 'Wikipedia request' to his followers. The Tesla CEO has called upon his followers to stop donating to the Wikimedia Foundation, the nonprofit organisation behind Wikipedia, citing concerns over its spending on Diversity, Equity, and Inclusion (DEI) initiatives.
Musk's call came in a post on X (formerly Twitter), where he has nearly 210 million followers. He wrote, "Stop donating to Wokepedia until they restore balance to their editing authority," responding to a post from the right-wing account "Libs of TikTok." That post highlighted a pie chart showing that 29% of Wikipedia's $177 million budget for 2023-24 was allocated to "equity" and "safety & inclusion."
According to the Wikimedia Foundation, this translates to $51.7 million: $31.2 million (17.6%) for equity and $20.5 million (11.6%) for safety and inclusion. The largest portion of the budget, $86.1 million (48.7%), is allocated to infrastructure, followed by $39.2 million (22.2%) for effectiveness. The foundation clarified that "supporting equity represents the second largest part of our programmatic work, with grants and Movement support representing the majority of the budget within the equity goal."
The post came on the same day when Musk responded to a post on Wikipedia that said that his offer to give Wikipedia $1 billion if it changes its name stands. To rewind, in October 2023, Elon Musk had offered Wikipedia $1 billion only if it changed its name to "Dickipedia".
Dogecoin Price Action Shows DOGE Breaking The $20 Barrier On the daily chart, the Dogecoin price action reveals a bullish failure to sustain its position within a rising channel pattern. Despite the short-term volatility, a Goldman Sachs analyst anticipates a potential parabolic rise for DOGE. The Goldman Sachs analyst pointed out the presence of a rising channel in the Dogecoin price chart, similar to patterns observed in 2017 and 2021.
Similarly, in 2021, DOGE experienced a 476% rally, a 56%