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🟡 Bitcoin price wobbles ahead of Fed’s rate decision
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 basis points.
According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 basis points.
According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
!!
LIVECrypto Daily™
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Speakers At Bitcoin Conference Believe in Crypto's Future - There Are Top Coins Expected to Rise ...
At a recent Bitcoin Conference, industry experts expressed strong confidence in the future of cryptocurrencies, highlighting their potential for substantial growth. Notably, the U.S. government is expected to maintain Bitcoin reserves, signaling institutional trust in digital currencies. The bright future of cryptocurrencies is further bolstered by the support of prominent figures like Donald Trump and Robert Kennedy Jr., adding significant credibility and momentum to the market. Readers will discover which coins could experience unprecedented growth in this evolving landscape.
Polygon (MATIC)
Polygon (MATIC) is showing resilience in a fluctuating market, currently trading between $0.52 and $0.57. Despite recent challenges, with a slight 6.27% dip this week and a 37.52% decrease over the past six months, there are promising signs on the horizon. The nearest resistance level is at $0.60, with support at $0.48. Technical indicators, such as the Relative Strength Index (RSI) at 36.54, indicate that MATIC is nearing an oversold condition. This suggests potential for a bullish turnaround. If the bulls gather momentum, MATIC could break the $0.60 resistance, potentially achieving a 10% increase. Surpassing the second resistance at $0.65 could pave the way for even greater gains.
Solana (SOL)
Solana is currently trading between $159.42 and $197.37, showcasing its potential in the dynamic market. The coin has experienced a promising 6.03% increase in the past week and an impressive 23.11% rise over the past month. The Relative Strength Index (RSI) of 49.85 indicates a balanced market, while the Moving Average Convergence Divergence (MACD) at 0.384 suggests mixed momentum.
If bullish trends prevail, Solana could challenge its nearest resistance at $210.23, representing potential growth of over 13%. Even with the possibility of bearish forces causing a dip towards the support level at $134.33, a decrease of about 25%, Solana's recent 6-month rise of 81.20% highlights its capability for significant gains. The future looks bright for Solana as it continues to gain broader acceptance and integration into the financial ecosystem.
Avalanche (AVAX)
Avalanche (AVAX) is currently trading between $28.31 and $35.01, demonstrating resilience in the face of market fluctuations. Although the bears have a slight edge, the coin is poised for a potential breakthrough. With the nearest resistance at $37.36, breaking past this level could lead to a surge towards $44.07, representing an impressive potential rise of over 20%.
The support level is firmly at $23.95, and even if bearish pressure increases, the coin's fundamentals remain strong. Notably, the Relative Strength Index (RSI) at 32.38 indicates that AVAX is near oversold territory. This suggests that a bullish turnaround could be imminent, providing an opportunity for prices to rise significantly.
Toncoin (TON)
Toncoin (TON) is currently trading between $6.90 and $7.55, navigating a challenging yet promising market landscape. Despite a recent 10% drop over the past week and a 16% decline over the past month, there are positive indicators for future growth. The current support level around $6.62 provides a foundation for potential upward movement.
Should momentum build, Toncoin could test the resistance at $7.93, marking a potential 15% increase. Impressively, over the past six months, Toncoin has experienced growth of over 200%, highlighting its robust potential. Although the relative strength is currently low, this indicates that there is significant room for upward movement with the right market push.
With a solid track record of growth and the potential for future gains, Toncoin remains a compelling prospect for investors looking towards the future.
Conclusion
Experts at the recent Bitcoin Conference are optimistic about cryptocurrencies, predicting significant growth. The U.S. government's likely Bitcoin reserves boost market trust, further supported by figures like Donald Trump and Robert Kennedy Jr.
Polygon (MATIC) shows resilience, with potential for a bullish turnaround. Solana (SOL) is poised for growth with balanced indicators. Avalanche (AVAX) may see a bullish turnaround soon, and Toncoin (TON) has shown strong growth and future potential despite recent declines.
As Bitcoin's influence grows, these altcoins are well-positioned for unprecedented growth, making them promising investments for substantial returns by 2025. Investors should monitor market signals and consider these top contenders.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Polygon (MATIC)
Polygon (MATIC) is showing resilience in a fluctuating market, currently trading between $0.52 and $0.57. Despite recent challenges, with a slight 6.27% dip this week and a 37.52% decrease over the past six months, there are promising signs on the horizon. The nearest resistance level is at $0.60, with support at $0.48. Technical indicators, such as the Relative Strength Index (RSI) at 36.54, indicate that MATIC is nearing an oversold condition. This suggests potential for a bullish turnaround. If the bulls gather momentum, MATIC could break the $0.60 resistance, potentially achieving a 10% increase. Surpassing the second resistance at $0.65 could pave the way for even greater gains.
Solana (SOL)
Solana is currently trading between $159.42 and $197.37, showcasing its potential in the dynamic market. The coin has experienced a promising 6.03% increase in the past week and an impressive 23.11% rise over the past month. The Relative Strength Index (RSI) of 49.85 indicates a balanced market, while the Moving Average Convergence Divergence (MACD) at 0.384 suggests mixed momentum.
If bullish trends prevail, Solana could challenge its nearest resistance at $210.23, representing potential growth of over 13%. Even with the possibility of bearish forces causing a dip towards the support level at $134.33, a decrease of about 25%, Solana's recent 6-month rise of 81.20% highlights its capability for significant gains. The future looks bright for Solana as it continues to gain broader acceptance and integration into the financial ecosystem.
Avalanche (AVAX)
Avalanche (AVAX) is currently trading between $28.31 and $35.01, demonstrating resilience in the face of market fluctuations. Although the bears have a slight edge, the coin is poised for a potential breakthrough. With the nearest resistance at $37.36, breaking past this level could lead to a surge towards $44.07, representing an impressive potential rise of over 20%.
The support level is firmly at $23.95, and even if bearish pressure increases, the coin's fundamentals remain strong. Notably, the Relative Strength Index (RSI) at 32.38 indicates that AVAX is near oversold territory. This suggests that a bullish turnaround could be imminent, providing an opportunity for prices to rise significantly.
Toncoin (TON)
Toncoin (TON) is currently trading between $6.90 and $7.55, navigating a challenging yet promising market landscape. Despite a recent 10% drop over the past week and a 16% decline over the past month, there are positive indicators for future growth. The current support level around $6.62 provides a foundation for potential upward movement.
Should momentum build, Toncoin could test the resistance at $7.93, marking a potential 15% increase. Impressively, over the past six months, Toncoin has experienced growth of over 200%, highlighting its robust potential. Although the relative strength is currently low, this indicates that there is significant room for upward movement with the right market push.
With a solid track record of growth and the potential for future gains, Toncoin remains a compelling prospect for investors looking towards the future.
Conclusion
Experts at the recent Bitcoin Conference are optimistic about cryptocurrencies, predicting significant growth. The U.S. government's likely Bitcoin reserves boost market trust, further supported by figures like Donald Trump and Robert Kennedy Jr.
Polygon (MATIC) shows resilience, with potential for a bullish turnaround. Solana (SOL) is poised for growth with balanced indicators. Avalanche (AVAX) may see a bullish turnaround soon, and Toncoin (TON) has shown strong growth and future potential despite recent declines.
As Bitcoin's influence grows, these altcoins are well-positioned for unprecedented growth, making them promising investments for substantial returns by 2025. Investors should monitor market signals and consider these top contenders.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Q
LIVETheVRSoldier
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Solana (SOL) Surpasses BNB in Market Cap to Become Fourth Largest Cryptocurrency
Solana (SOL) price has been rising steadily over the past two weeks, reaching $185. The return to this level has seen SOL surpass BNB in market cap, rising to fourth place on the list of largest cryptocurrencies.
Institutions Choose Solana
One of the main factors driving the price of SOL has been the recent approval and subsequent launch of a spot ETF on Ethereum . Many market participants believe that Solana is a leading contender to receive its own ETF in the near future.
Solana and BNB Market Cap. Source: TradingView
Institutional investors certainly liked the idea. According to CoinShares, SOL saw the most inflows of any altcoin after Ethereum in the week ending July 20. However, the significant gap in inflows between SOL and LTC confirms that large investors are actively investing in Solana, seeing potential in it.
Institutional Inflows into SOL . Source: CoinShares SOL Price Forecast: Break Above $200
At the time of writing, SOL is trading at $185, forming a double bottom pattern . A breakout above the neckline of the pattern usually results in significant gains.
SOL Price Analysis . Source: TradingView
At the moment, the macro bullish pattern points to a 31% rally. The target is $245, which brings the altcoin closer to the all-time high of $260. The probability of this will increase further when $200 turns into a support level. On the other hand, a failed breakout or profit taking by SOL holders would significantly reduce the upside chances. This could lead to a drop to $175, which would invalidate the bullish thesis.
The post Solana (SOL) Surpasses BNB in Market Cap to Become Fourth Largest Cryptocurrency first appeared on The VR Soldier.
Institutions Choose Solana
One of the main factors driving the price of SOL has been the recent approval and subsequent launch of a spot ETF on Ethereum . Many market participants believe that Solana is a leading contender to receive its own ETF in the near future.
Solana and BNB Market Cap. Source: TradingView
Institutional investors certainly liked the idea. According to CoinShares, SOL saw the most inflows of any altcoin after Ethereum in the week ending July 20. However, the significant gap in inflows between SOL and LTC confirms that large investors are actively investing in Solana, seeing potential in it.
Institutional Inflows into SOL . Source: CoinShares SOL Price Forecast: Break Above $200
At the time of writing, SOL is trading at $185, forming a double bottom pattern . A breakout above the neckline of the pattern usually results in significant gains.
SOL Price Analysis . Source: TradingView
At the moment, the macro bullish pattern points to a 31% rally. The target is $245, which brings the altcoin closer to the all-time high of $260. The probability of this will increase further when $200 turns into a support level. On the other hand, a failed breakout or profit taking by SOL holders would significantly reduce the upside chances. This could lead to a drop to $175, which would invalidate the bullish thesis.
The post Solana (SOL) Surpasses BNB in Market Cap to Become Fourth Largest Cryptocurrency first appeared on The VR Soldier.
Nice
LIVETheNewsCrypto
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Can Bitcoin (BTC) Escalate to $70K Shortly?
Bitcoin is in the bullish note, currently the price stays at $67K.
BTC’s fear and greed index is noted at 72, suggesting greed in the market.
Bitcoin (BTC) has maintained its momentum above $65K since the start of the week. The asset has climbed to $68K amid a greedy market sentiment. This surge is supported by institutional investors and notable figures who advocate for Bitcoin.
Adding on to it, the Bitcoin Conference in Nashville has generated significant anticipation, particularly with Republican presidential nominee Donald Trump addressing Bitcoin’s future at the Bitcoin2024 event on July 27.
Trump once called cryptocurrency a “scam,” and now he is labelling one of the biggest conferences as a keynote speaker. With his pro-crypto stance in recent campaigning efforts, crypto traders anticipate the Bitcoin plans for more regulatory clarity in the U.S. crypto industry. On the other hand, there are rumours that he could announce plans to declare Bitcoin as a U.S. strategic reserve.
In the Bitcoin2024 event, Robert F. Kennedy Jr. Independent presidential nominee, suggests a motivated plan to integrate Bitcoin within the U.S. economy during his speech at the event. As part of the plan, he initiates the Treasury Department to purchase 550 Bitcoin daily until the reserve hits 4 million BTC.
Meanwhile, Michael Saylor, co-founder of MicroStrategy, in the Bitcoin Conference made a prediction at the conference. Bitcoin would hit $13 million per coin by 2045. On a positive note, Saylor said Bitcoin could be worth as much as $49 million and account for 22% of global wealth. Contrarily, it might be worth $3 million and 2% of global wealth.
Will BTC Price Mount Up?
This month began with a brief anticipation, as Bitcoin was trading in the $61,000 range. Conversely, within a week, bears took the price down to $53K, and later BTC climbed to $68K. The asset was up by 1.73% over the past week; the highest and lowest prices observed were at $68,356 and $63,740, respectively.
In the last 24 hours, Bitcoin hit $68,207, with a spike of 1.74%. At press time, BTC traded at $67,852, and the market cap stayed at $1.33 trillion. The daily trading volume recorded a 26.22% decline and stood at $26.23 billion, according to CMC data. Currently, the BTC’s fear and greed index is noted at 72, suggesting greed in the market, the asset’s price will increase and the traders are interested in the asset.
The daily RSI, which stands at 64.14, pointing that the asset is approaching the overbought zone. The short-term 9-day moving average (9MA) is found at $66,882 and the 21-day moving average (21MA) at $63,030, indicating the current bullish momentum.
BTC Price Chart (Source: TradingView)
If Bitcoin bulls’ revival occurs, the price might find significant resistance at $68.5K. A potential upside break might send the price higher toward the resistance of $69,294. Contrarily, if BTC falls down and bears take control over the price momentum, BTC could drop to $67K and find subsequent support at $66,266.
Highlighted Crypto News
Presidential Candidate RFK Advocates BTC for Economic Stability
BTC’s fear and greed index is noted at 72, suggesting greed in the market.
Bitcoin (BTC) has maintained its momentum above $65K since the start of the week. The asset has climbed to $68K amid a greedy market sentiment. This surge is supported by institutional investors and notable figures who advocate for Bitcoin.
Adding on to it, the Bitcoin Conference in Nashville has generated significant anticipation, particularly with Republican presidential nominee Donald Trump addressing Bitcoin’s future at the Bitcoin2024 event on July 27.
Trump once called cryptocurrency a “scam,” and now he is labelling one of the biggest conferences as a keynote speaker. With his pro-crypto stance in recent campaigning efforts, crypto traders anticipate the Bitcoin plans for more regulatory clarity in the U.S. crypto industry. On the other hand, there are rumours that he could announce plans to declare Bitcoin as a U.S. strategic reserve.
In the Bitcoin2024 event, Robert F. Kennedy Jr. Independent presidential nominee, suggests a motivated plan to integrate Bitcoin within the U.S. economy during his speech at the event. As part of the plan, he initiates the Treasury Department to purchase 550 Bitcoin daily until the reserve hits 4 million BTC.
Meanwhile, Michael Saylor, co-founder of MicroStrategy, in the Bitcoin Conference made a prediction at the conference. Bitcoin would hit $13 million per coin by 2045. On a positive note, Saylor said Bitcoin could be worth as much as $49 million and account for 22% of global wealth. Contrarily, it might be worth $3 million and 2% of global wealth.
Will BTC Price Mount Up?
This month began with a brief anticipation, as Bitcoin was trading in the $61,000 range. Conversely, within a week, bears took the price down to $53K, and later BTC climbed to $68K. The asset was up by 1.73% over the past week; the highest and lowest prices observed were at $68,356 and $63,740, respectively.
In the last 24 hours, Bitcoin hit $68,207, with a spike of 1.74%. At press time, BTC traded at $67,852, and the market cap stayed at $1.33 trillion. The daily trading volume recorded a 26.22% decline and stood at $26.23 billion, according to CMC data. Currently, the BTC’s fear and greed index is noted at 72, suggesting greed in the market, the asset’s price will increase and the traders are interested in the asset.
The daily RSI, which stands at 64.14, pointing that the asset is approaching the overbought zone. The short-term 9-day moving average (9MA) is found at $66,882 and the 21-day moving average (21MA) at $63,030, indicating the current bullish momentum.
BTC Price Chart (Source: TradingView)
If Bitcoin bulls’ revival occurs, the price might find significant resistance at $68.5K. A potential upside break might send the price higher toward the resistance of $69,294. Contrarily, if BTC falls down and bears take control over the price momentum, BTC could drop to $67K and find subsequent support at $66,266.
Highlighted Crypto News
Presidential Candidate RFK Advocates BTC for Economic Stability
#
LIVETopCryptoNews
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🟡 Bitcoin price wobbles ahead of Fed’s rate decision
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 basis points.
According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 basis points.
According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
#sol
LIVEDeFi Buzz
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🚀 Ready for the next memecoin moonshot? Trump Fuks Kamala (TRUMPKAM) on Solana is gearing up for a 19,000% surge! 🌕
Early SHIB & DOGE investors made bank, and TRUMPKAM could be the next viral sensation. With upcoming CEX listings, millions more could jump in, driving prices sky-high. Currently, grab it on Solana DEXs like Jup.ag & Raydium.io.
Got your Solflare, MetaMask, or Phantom wallet ready? Swap some SOL for TRUMPKAM and join the fun!
Think TRUMPKAM will hit the moon? Drop your thoughts in the comments! 🚀 #DeFi #Web3 #Crypto
(Note: Always DYOR!)
Early SHIB & DOGE investors made bank, and TRUMPKAM could be the next viral sensation. With upcoming CEX listings, millions more could jump in, driving prices sky-high. Currently, grab it on Solana DEXs like Jup.ag & Raydium.io.
Got your Solflare, MetaMask, or Phantom wallet ready? Swap some SOL for TRUMPKAM and join the fun!
Think TRUMPKAM will hit the moon? Drop your thoughts in the comments! 🚀 #DeFi #Web3 #Crypto
(Note: Always DYOR!)
$WBTC
LIVE
Binance News
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Musk's Private Jet Lands In Tennessee Ahead Of Bitcoin Conference
According to Odaily, Fox Business reporter Eleanor Terrett posted on X that Elon Musk's private jet arrived in Tennessee four hours ago. Musk also changed his profile picture to one with laser eyes. The 2024 Bitcoin Conference is set to take place on the 25th in Nashville, Tennessee, leading to market speculation that Musk might attend.
$USDC
LIVECryptopolitan
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Ripple’s XRP Price Continues to Decline Despite Legal Win Against the U.S. SEC
Ripple recently made a breakthrough after winning a legal battle against the U.S. Securities Exchange Commission (SEC). However, market analysts note that the win has not translated to a surge in XRP’s value. Coinmarketcap data reveals that XRP is currently trading at $0.4284.
Also read: Ripple team launches new feature to improve payments API
XRP is facing a slump amid the market crisis. The price decline comes despite Ripple’s latest win against the U.S. Security Exchange Commission(SEC) where Judge Torres clarified that XRP cannot be considered a security. XRP was one of the tokens being investigated by the regulator for being an unregistered security.
Ripple’s CTO breaks silence on token’s price
David Schwartz responded to an XRP influencer tweet expressing his views on XRP’s price decline below $0.40.Schwartz focused on the token’s utility aspect by adding that the current price enables users to acquire enough XRP to facilitate transactions despite the market price.
https://twitter.com/JoelKatz/status/1809097926020640899
The CTO’s comment emphasized XRP’s inefficiency and reduced value as a payment option due to the high transaction fees. The industry still questions XRP’s practical use despite its legal clarity. They added that the high transaction fees deter its widespread adoption.
After Judge Torres’ ruling last month, XRP is said to be one of the few tokens enjoying a clear legal status. According to the California ruling, Ripple did not contravene any federal security laws by issuing the XRP token without registering it as a security with the SEC.
Data indicates that XRP continues to struggle to recover despite the legal clarity. Friday’s decline marked an 89.1% drop from its all-time high of $3.84.The drop sparked conversations within the crypto community, and the uproar reportedly caught Ripple’s CTO’s attention.
XRP community remains divided
Community members have reportedly remained hopeful despite XRP’s market slump. X user, Brett Hill, who is a Bitrue ambassador, said investors should take advantage of this opportunity to buy the dip. Citing one of Brett’s posts where shilling XRP, “In times like these it’s important to stay grounded and view dips as rare opportunities to accumulate.”
Also read: BlackRock’s iShares Bitcoin Trust surpasses $20b in assets
Hill’s sentiments echo those of other community members who believe that market turbulence will translate to long-term gains. Some analysts have also affirmed the community members’ views. They pointed out that historical patterns suggest significant dips are often followed by substantial gains.
Others remained skeptical due to the recent downtrend and high transaction fees. Investors highlighted that legal victories such as the one experienced by Ripple in California often lead to market gains. They reported that the practical challenges of XRP as a mode of payment have greatly undermined the legal victories.
Cryptopolitan reporting by Collins J. Okoth
Also read: Ripple team launches new feature to improve payments API
XRP is facing a slump amid the market crisis. The price decline comes despite Ripple’s latest win against the U.S. Security Exchange Commission(SEC) where Judge Torres clarified that XRP cannot be considered a security. XRP was one of the tokens being investigated by the regulator for being an unregistered security.
Ripple’s CTO breaks silence on token’s price
David Schwartz responded to an XRP influencer tweet expressing his views on XRP’s price decline below $0.40.Schwartz focused on the token’s utility aspect by adding that the current price enables users to acquire enough XRP to facilitate transactions despite the market price.
https://twitter.com/JoelKatz/status/1809097926020640899
The CTO’s comment emphasized XRP’s inefficiency and reduced value as a payment option due to the high transaction fees. The industry still questions XRP’s practical use despite its legal clarity. They added that the high transaction fees deter its widespread adoption.
After Judge Torres’ ruling last month, XRP is said to be one of the few tokens enjoying a clear legal status. According to the California ruling, Ripple did not contravene any federal security laws by issuing the XRP token without registering it as a security with the SEC.
Data indicates that XRP continues to struggle to recover despite the legal clarity. Friday’s decline marked an 89.1% drop from its all-time high of $3.84.The drop sparked conversations within the crypto community, and the uproar reportedly caught Ripple’s CTO’s attention.
XRP community remains divided
Community members have reportedly remained hopeful despite XRP’s market slump. X user, Brett Hill, who is a Bitrue ambassador, said investors should take advantage of this opportunity to buy the dip. Citing one of Brett’s posts where shilling XRP, “In times like these it’s important to stay grounded and view dips as rare opportunities to accumulate.”
Also read: BlackRock’s iShares Bitcoin Trust surpasses $20b in assets
Hill’s sentiments echo those of other community members who believe that market turbulence will translate to long-term gains. Some analysts have also affirmed the community members’ views. They pointed out that historical patterns suggest significant dips are often followed by substantial gains.
Others remained skeptical due to the recent downtrend and high transaction fees. Investors highlighted that legal victories such as the one experienced by Ripple in California often lead to market gains. They reported that the practical challenges of XRP as a mode of payment have greatly undermined the legal victories.
Cryptopolitan reporting by Collins J. Okoth
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Post an #AirdropGuide to win up to 500 FDUSD!
Join the #AirdropGuide campaign for a chance to win up to 500 FDUSD! Share your knowledge of what crypto airdrops are and how they work. Include insights on different types of airdrops, examples, and effective strategies to find and participate in them.
Campaign Period: 2024-06-14 00:00 to 2024-06-19 23:59 (UTC)
To Participate:
Post an explanation of crypto airdrops and how they work using the #AirdropGuide hashtag on Binance Square.
Include:
Explanation of what a crypto airdrop is;Insights on different types of airdrops (e.g., bounties, holder drops, etc.);Real-life examples of successful airdrops;Strategies for finding and participating in airdrops.
Make sure your post has a minimum length of 600 words.
Guidelines:
Make certain your shared content is original and filled with insightful information. Posts with high engagement lacking original content may be disqualified.
Winner Selection:
Five posts generating the most interaction will each be rewarded with 100 FDUSD.
Terms and Conditions:
This campaign may not be available in your region.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevance, formatting, research quality, factual sourcing, and originality. Content must also align with Campaign Rules. Only content no shorter than 600 words will qualify for the rewards.Posts that attempt to boost engagement by exploiting Red Packets and giveaways will be disqualified.Should a creator be declared a winner and be rewarded in any campaign, but subsequent findings reveal a violation of the campaign's rules on their part, their eligibility for future rewards will be suspended. The suspension period will commence from the end date of the campaign where the violation occurred and will last for 30 days.The content needs to be posted in Binance Square organically to qualify for the reward.In order to be eligible for a reward, your account must be completely configured, which includes a properly set up username and a profile picture. Winners of the week will be notified within 14 days via a push notification under Creator Center > Square Assistant. Entries by Media & Project partners will not be considered for this campaign.The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here.
Campaign Period: 2024-06-14 00:00 to 2024-06-19 23:59 (UTC)
To Participate:
Post an explanation of crypto airdrops and how they work using the #AirdropGuide hashtag on Binance Square.
Include:
Explanation of what a crypto airdrop is;Insights on different types of airdrops (e.g., bounties, holder drops, etc.);Real-life examples of successful airdrops;Strategies for finding and participating in airdrops.
Make sure your post has a minimum length of 600 words.
Guidelines:
Make certain your shared content is original and filled with insightful information. Posts with high engagement lacking original content may be disqualified.
Winner Selection:
Five posts generating the most interaction will each be rewarded with 100 FDUSD.
Terms and Conditions:
This campaign may not be available in your region.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevance, formatting, research quality, factual sourcing, and originality. Content must also align with Campaign Rules. Only content no shorter than 600 words will qualify for the rewards.Posts that attempt to boost engagement by exploiting Red Packets and giveaways will be disqualified.Should a creator be declared a winner and be rewarded in any campaign, but subsequent findings reveal a violation of the campaign's rules on their part, their eligibility for future rewards will be suspended. The suspension period will commence from the end date of the campaign where the violation occurred and will last for 30 days.The content needs to be posted in Binance Square organically to qualify for the reward.In order to be eligible for a reward, your account must be completely configured, which includes a properly set up username and a profile picture. Winners of the week will be notified within 14 days via a push notification under Creator Center > Square Assistant. Entries by Media & Project partners will not be considered for this campaign.The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here.
