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According to U.Today, XRP, the seventh largest cryptocurrency by market capitalization, has experienced a notable increase in trading volume, reaching $1.47 billion or 2.62 billion XRP, as reported by CoinMarketCap. This marks a 7% rise in volume over the past 24 hours. This week, XRP witnessed a price reversal after a period of stagnation, breaking through significant barriers that had previously hindered its progress. Following a recent consolidation phase, XRP's price surged over four days, reaching $0.57 during Thursday's trading session. Despite encountering resistance at this level and experiencing a slight pullback, XRP has gained 8% over the week. The recent price movement has sparked renewed interest in XRP, with traders and investors closely observing its trajectory. The 7% increase in trading volume, although modest, indicates a gradual re-engagement by market participants, which is a positive sign for XRP. The cryptocurrency's recent rise is part of a broader wave of optimism in the crypto market, highlighted by Bitcoin's surge past $77,000 towards the end of the week. XRP's rally saw it surpass the daily SMA 50 and 200, which had previously restricted its price movement. However, the price declined after reaching $0.57, confirming short-term resistance at this level. If the current trend continues, it would mark the second consecutive day of losses if the day closes in red. Despite this, traders remain focused on potential breakout levels. The $0.57 mark has emerged as a critical point for bulls, who may be preparing for another attempt to push the price higher. If XRP manages to break through this resistance, it could target higher levels, potentially reaching $0.665 and even $0.748. However, further consolidation or minor corrections might occur before a sustained rally can be achieved. This optimistic outlook could be invalidated if XRP falls below its daily moving averages of 50 and 200, suggesting an extended-range trading scenario with support near $0.487. At the time of writing, XRP was down 0.55% over the last 24 hours, trading at $0.5488.

According to U.Today, the price of the cryptocurrency XRP experienced a notable increase today, with its value rising from $0.5527 to $0.578 within just over an hour, marking a 4.71% gain. This surge brought XRP to its highest level since early October. The reason behind this sudden price movement remains unclear, as there were no significant news events related to XRP during this period.Interestingly, this price spike occurred just before the formation of a technical pattern known as a 'death cross' on XRP's daily price chart. This pattern, characterized by the 50-day moving average crossing below the 200-day moving average, is often seen as a bearish indicator, suggesting potential price declines. Historically, when XRP last experienced a death cross, its price dropped by more than 20% over the following 70 days, reaching a low of $0.4.The current situation presents a complex scenario for XRP. While the death cross typically signals a bearish trend, today's rally could indicate heightened interest and trading volume. This juxtaposition of a bullish price movement against a looming bearish technical pattern suggests a potential shift in market sentiment. As a result, XRP has captured the attention of investors and enthusiasts, setting the stage for potential volatility in the near future.

According to NS3AI, Ripple recently executed two significant transactions, transferring a total of 570 million XRP. This move has captured the attention of the cryptocurrency community, as it coincided with a notable increase in the price of XRP. The surge in XRP's value is attributed to Bitcoin reaching a new all-time high of $76,460.The exact reason behind Ripple's substantial transfer remains uncertain. However, such large-scale transactions by Ripple are often linked to the company's strategy of selling XRP to fund its operations and cover legal expenses. This pattern has been observed in the past, where similar transfers have preceded sales of XRP by Ripple.The timing of these transactions has led to speculation among market participants about Ripple's intentions and the potential impact on XRP's market dynamics. As the cryptocurrency market continues to evolve, such significant movements by major players like Ripple are closely monitored by investors and analysts alike.

According to NS3AI, XRP has recently surpassed significant moving averages, creating a robust support level at $0.50. This development marks a pivotal moment for the cryptocurrency, as it now faces resistance from $0.58 to $0.60. The Relative Strength Index (RSI) suggests that XRP might be entering overbought territory, indicating that investors should adopt a cautious approach in the short term.The current market dynamics for XRP highlight the importance of monitoring these resistance levels closely. A successful breakthrough above the $0.60 mark could pave the way for additional medium-term gains, potentially attracting more investors and increasing trading volumes. However, the overbought conditions indicated by the RSI warrant careful consideration, as they may lead to a temporary pullback or consolidation phase before any further upward movement.Overall, XRP's price action remains a focal point for traders and investors, with the established support and resistance levels serving as critical indicators for future market trends. As the cryptocurrency market continues to evolve, staying informed about these key levels will be essential for making informed trading decisions.

According to Cointelegraph, VanEck has introduced an exchange-traded note (ETN) in Europe that tracks the performance of the Pyth Network's native token, PYTH. This new financial product will be available on Euronext Amsterdam and Euronext Paris, providing access to investors across 15 European countries, including Germany, France, Norway, and Switzerland.The Pyth Network is a decentralized oracle protocol that facilitates the interaction of smart contracts with off-chain data and other blockchain networks. PYTH serves as the governance token for the Pyth Network and boasts a fully diluted market capitalization of approximately $3.4 billion, as reported by CoinMarketCap. Martijn Rozemuller, CEO of VanEck Europe, emphasized the growing importance of blockchain-based smart contracts in the financial sector, highlighting the critical role of oracle networks in enabling real-world applications for these contracts. Rozemuller further noted the potential of the Pyth Network to become a vital component of decentralized finance application infrastructure.An ETN is a debt instrument that tracks the performance of an underlying asset. The VanEck Pyth ETN is designed to align with the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens. These tokens are held by Lichtenstein-based custodian Bank Frick. VanEck has previously launched over a dozen exchange-traded cryptocurrency products in Europe, covering digital assets such as Solana (SOL) and Chainlink (LINK). In the United States, VanEck has also introduced two spot crypto exchange-traded funds (ETFs): VanEck Bitcoin ETH (HODL) and VanEck Ethereum ETF (ETHV).The outcome of the United States presidential election on November 5 could influence the approval of several proposed crypto ETFs awaiting regulatory clearance. In 2024, asset managers submitted numerous filings to list ETFs holding altcoins, including Solana (SOL), XRP (XRP), and Litecoin (LTC). Additionally, issuers are seeking approval for various planned crypto index ETFs designed to hold diverse baskets of tokens.

According to U.Today, XRP, the seventh-largest cryptocurrency by market capitalization, has experienced a significant increase in trading volumes, rising by 54% as the cryptocurrency market attempts to rebound from a recent $225 million sell-off. The market witnessed nearly $225 billion in liquidations over the past 24 hours, with crypto futures experiencing approximately $133 million in long liquidations. This was largely due to Bitcoin's decline to lows of $67,444, which resulted in losses across major tokens. CoinMarketCap data indicates that XRP's trading volume reached $1.04 billion in the last 24 hours, equivalent to 2.03 billion XRP, marking a 55% increase. This surge in activity may be attributed to heightened market participation following a period of intense selling pressure.The broader cryptocurrency market is currently showing signs of recovery, with several crypto assets returning to positive trading territory. Bitcoin, for instance, surged past $69,000 during Monday's trading session. This positive sentiment has extended to XRP, driving up trading volumes as traders and investors seek to capitalize on the upward momentum. The increase in trading volumes has also positively impacted XRP's price, which rose by 2.29%, trading at $0.512 at the time of reporting.Ripple recently released its Q3 XRP Markets Report, providing transparency and updates on the company's perspective on the state of crypto markets and relevant XRP Ledger and XRP-related announcements. Key highlights from the report include the affirmation that XRP's status as a nonsecurity remains unchanged. Ripple filed its Form C in response to the SEC's appeal, which does not address whether XRP is a security. The ongoing legal action by the SEC against Ripple appears to be a significant factor influencing XRP's price. Additionally, Bitwise, Canary, and 21Shares have all filed S-1s for XRP ETFs, indicating strong institutional interest in XRP investment products. Leading issuer Grayscale has launched an XRP Trust and filed to convert a multi-coin fund that includes XRP into an ETF.

According to U.Today, XRP, the token associated with Ripple, is experiencing a positive trading trend after forming a bullish pattern. The 100eyes Crypto Scanner, a technical analysis alert service, identified a bullish divergence for XRP, the seventh-largest cryptocurrency by market capitalization. This divergence indicates that the relative strength index (RSI) has made a higher low, even though the price recorded a lower low on the four-hour chart, suggesting a decrease in bearish momentum.The cryptocurrency has successfully reclaimed the critical $0.50 level after previously dropping to an intraday low of $0.49. XRP's movement has been in sync with Bitcoin, which recently regained the $69,000 mark. During the third quarter, XRP gained some ground against Bitcoin, as highlighted in Ripple's latest report. Last month, XRP faced a sharp sell-off following the SEC's decision to appeal the Ripple case, but the downturn was brief.Despite the SEC's appeal being a setback for Ripple, the agency has clarified that it will not argue that XRP itself is a security. This provides XRP with legal clarity similar to Bitcoin, which the SEC has consistently recognized as a commodity. Additionally, XRP is making strides into mainstream finance, with several spot ETF filings in the US. A recent filing by 21Shares explicitly stated that XRP is not a security, although the potential for it to be classified as such in the future was noted as a risk factor.

According to U.Today, in December 2020, the SEC sued fintech company Ripple, alleging that the company violated the law by raising funds through the sale of XRP without registering it as a security. This case has been closely monitored due to its potential implications for the SEC's regulatory authority over cryptocurrency. In July last year, U.S. District Judge Analisa Torres ruled that XRP is not a security in itself, a decision seen as a significant victory for the industry. The SEC, led by Chairman Gary Gensler, has filed several major cases against cryptocurrency exchanges and issuers, accusing them of offering unregistered securities.On August 7, 2024, Judge Torres issued a remedies order requiring Ripple to pay $125 million for unregistered XRP sales to sophisticated third-party institutions. This amount is significantly lower than the SEC's request for $2 billion in fines and penalties. There were no findings or charges of fraud or recklessness against Ripple, nor was there any evidence that anyone suffered financial harm. Judge Torres also imposed an injunction prohibiting Ripple from further violating securities laws but refused the SEC's request for Ripple to disgorge gains from its sales. The regulator had sought over $876 million in disgorgement, over $198 million in interest, and an $876 million civil penalty, while Ripple argued it should not have to pay more than $10 million.On October 2, the SEC announced its intention to appeal the Court's decision that certain prior XRP distributions by Ripple were securities. However, the SEC's appeal does not address whether XRP is a security in itself. The Court found in Ripple's favor that XRP is not a security, and the SEC will not appeal that ruling. On October 24, Ripple submitted its Form C, outlining the issues it intends to bring in its cross-appeal. Given that the parties are challenging the Court's judgment, Ripple placed the $125 million set aside for remedies in an escrow account. On October 31, the Second Circuit Court of Appeals issued an Order requiring the SEC's brief to be filed on or before January 15, 2025. The appeal and cross-appeal briefing could occur in the first half of 2025, followed by an argument before the appellate court, most likely in the fall of 2025, and a final decision from the court. Ripple mentioned this in its most recent Q3, 2024 XRP Markets Report.

According to U.Today, XRP, the cryptocurrency and native token of XRP Ledger, has experienced notable price fluctuations recently. Despite being in the red zone, XRP bounced off a critical support level of $0.505, climbing from $0.5048 to $0.5230 in early Friday trading before undergoing corrections.XRP's market volume has surged by 42.94% to $1.27 billion within the past 24 hours, indicating growing investor interest. This increase in volume suggests that a more sustained rebound could be on the horizon, driven by rising investor confidence and bullish market sentiment. The asset has struggled with bearish sentiment over the past week but is testing the $0.52 price level. Other metrics, such as Open Interest, have also continued to rise, reflecting investor confidence in XRP. Investors might take advantage of XRP's low price to buy in anticipation of a future rebound.Additionally, some analysts believe that XRP is due for a price rebound after a prolonged phase of tight consolidation. It has been three years since XRP reached $1.96 in 2021, and a breakout might be imminent. This expectation is likely contributing to the surge in market demand ahead of a potential price spike. Broader industry developments, such as the possibility of a spot ETF product, could also impact XRP's price outlook. The U.S. Securities and Exchange Commission has acknowledged Grayscale’s filing, setting the timeline for approval in motion. Currently, XRP is trading at $0.5182, reflecting a 1.08% drop in the last 24 hours.

According to U.Today, San Francisco-based enterprise blockchain company Ripple has reported holding 4.43 billion XRP tokens in its recently published Q3 report. This marks a decrease of approximately 5.24% from the second quarter. Additionally, the total number of XRP tokens locked in the company's escrow reserve has dropped by roughly 1.5%, from 39.5 billion to 38.9 billion. Ripple initially locked a total of 55 billion XRP tokens in escrow wallets back in 2017, which accounted for more than half of XRP's maximum supply.The report also highlighted that the Ripple-affiliated token experienced elevated trading volumes in the third quarter. Notably, the XRP/BTC ratio saw a significant 27% increase during this period, despite the rising Bitcoin dominance metric. Ripple's ongoing legal battle with the SEC was identified as a key factor influencing the price of the XRP token. Currently, XRP is trading at $0.51, according to CoinGecko data.

According to U.Today, ten years ago, XRP was the second-largest cryptocurrency by market capitalization. On this day in 2014, XRP was positioned just behind Bitcoin, marking its significant influence in the early days of the cryptocurrency market. Despite the evolving crypto landscape, this milestone underscores XRP's early impact and the resilience of its community.In a recent tweet, Satoshi Club, a crypto market-focused X handle, shared a snapshot of the top 10 cryptocurrencies by market capitalization from a decade ago. Bitcoin held the top spot with a market cap of $4.7 billion, while XRP was second with approximately $131 million. Other cryptocurrencies in the top 10 included Litecoin, Bitshares, Dogecoin, Nxt, Peercoin, Maidsafecoin, Counterparty, and Namecoin. Notably, Ethereum had not yet been launched, as it debuted in July 2015.At that time, the cryptocurrency market was much smaller, with fewer projects. XRP's unique consensus mechanism distinguished it from Bitcoin's proof-of-work system, attracting attention for its potential to facilitate faster and cheaper transactions. XRP maintained its position as the second-largest cryptocurrency intermittently until 2018, when it reached an all-time high of $3.84 on January 3, 2018.Fast forward to the present, XRP is no longer the second-largest cryptocurrency but remains within the top 10 by market capitalization. Despite ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC), XRP continues to hold a significant position in the market. Before the Ripple lawsuit in December 2020, XRP was consistently ranked as the third-largest cryptocurrency by market valuation. Following a landmark ruling in the Ripple-SEC lawsuit in July 2023, XRP briefly rose to become the fourth-largest cryptocurrency by market capitalization. Currently, XRP is the seventh-largest cryptocurrency, with a market cap of approximately $29.85 billion, according to CoinMarketCap data. Bitcoin remains the largest cryptocurrency with a market value exceeding $1.42 trillion, followed by Ethereum with a market cap of $324 billion.

According to U.Today, a U.S. District Court Judge has issued several orders in the ongoing Ripple litigation in California, providing further clarity to the lawsuit where plaintiffs allege securities law violations by the cryptocurrency company. The parties involved in the XRP lawsuit have scheduled settlement talks as the court prepares for a pretrial conference on Dec. 19 and jury selection on Jan. 21, 2025.Judge Hamilton's ruling largely favoured the plaintiffs, granting orders on four motions under the Daubert rule. The court denied Ripple's motion to exclude the testimony of plaintiffs' expert Jeremy Clark, while also denying their attempt to exclude the testimony of Saifedean Ammous. Conversely, the court granted the plaintiffs' motion to exclude the testimony of the defendant's expert Alan Schwartz and Ripple's motion to exclude the testimony of the plaintiff's expert Joel Seligman.Ripple argued that Clark lacked specific expertise on XRP, but the court found his report reliable, emphasizing that XRP Ledger is dependent on Ripple and that the distribution of XRP favours the company. The judge noted that the opposing opinions of experts Ferrell and Ammous on whether Ripple's actions affect the price of XRP would be determined by the jury at trial.Legal expert Fred Rispoli has highlighted the ongoing uncertainty regarding XRP's classification at the state level. He noted that the California case, which is based on state law, does not directly affect the SEC v. Ripple case, which is based on federal law. This distinction is significant because Judge Torres previously ruled that Ripple's sales of XRP to institutional investors violated federal securities laws, while sales on secondary markets to retail investors were not considered securities transactions.

According to U.Today, the U.S. Securities and Exchange Commission (SEC) has requested an extension until January 15, 2025, to file its principal brief in the ongoing appeal phase of its lawsuit against Ripple. This request follows a series of procedural delays and missed deadlines that have prolonged the case. James K. Filan, a legal expert, shared this update with the XRP community, highlighting the SEC's letter to the court requesting the new deadline.The appeals process is expected to extend well into next year, with the crypto community eagerly awaiting the outcome. In a recent development, Ripple filed the Civil Appeal Pre-Argument Statement (Form C) in the U.S. Court of Appeals for the Second Circuit, challenging certain elements of a key ruling in its legal battle with the SEC. This move comes a week after the SEC filed its Form C with attachments, contesting specific portions of a 2023 court judgment that partially favored Ripple in its sale of XRP to investors.The XRP community has reacted to these latest developments. Bill Morgan, an XRP enthusiast and attorney, believes the SEC's recent actions may indicate a strategy of delay or a lack of confidence in its case. Morgan noted that Judge Torres' judgment is receiving positive feedback in SEC cases involving exchanges. He also pointed out the SEC's pattern of last-minute filings, including its notice of appeal submitted near the end of the 60-day period following Judge Torres' August 7 final judgment. The SEC's Form C was also filed late last week, sparking speculation that it was submitted a day late.Morgan commented on the SEC's history of filing documents at the last moment and frequently seeking extensions since the case began against Ripple in December 2020. He suggested that the SEC's request for a maximum of three months to file its brief, five months after the final judgment, could be a tactic to delay the legal process or a sign of uncertainty about its prospects in the appeal.

According to Odaily, Ripple's Chief Technology Officer David Schwartz has voiced opposition to the legal action against Character.AI, arguing that the lawsuit lacks a solid basis under U.S. law. Schwartz took to X to express his views, clarifying that while he does not defend Character.AI's moral responsibilities, the legal arguments against the company are flawed. He emphasized that Character.AI's actions are protected under the First Amendment, as the platform generates expressive content. Unless this content falls into narrowly defined unprotected speech categories, such as incitement or direct threats, it remains protected.Schwartz pointed out that the lawsuit's focus is on the alleged recklessness of Character.AI in designing its speech-generating platform. He stated, "Any argument that protected speech is reckless, dangerous, or 'flawed' is entirely incompatible with free speech." He compared the situation to previous moral panics over new media forms, such as video games and comic books, suggesting that the legal challenge against Character.AI reflects similar past controversies. Schwartz stressed that regulating the manner of speech selection would conflict with constitutional rights.The lawsuit was filed by the mother of 14-year-old Sewell Setzer III, accusing Character.AI of negligence, wrongful death, deceptive trade practices, and product liability. The complaint alleges that despite being marketed to minors, the platform is "excessively dangerous" and lacks adequate safety measures. Character.AI's founders Noam Shazeer and Daniel De Freitas, along with Google's leadership team, which acquired the company in August, are named in the lawsuit. The plaintiff's attorney claims that the platform's anthropomorphized AI characters and chatbots providing "unlicensed psychotherapy" contributed to Setzer's death. In response, Character.AI has updated its safety protocols, including new age-based content filters and enhanced detection of harmful user interactions.