Tag: ripple news

Top 3 XRP Developments You Should Be Aware Of That Could Boost Price
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XRP is currently up over 14% in the last seven days, and some might argue that the altcoin is simply enjoying the euphoria of a possible Spot Bitcoin ETF approval, which has seen the crypto market resurge. However, there are other developments that the XRP community might need to be aware of, as they could cause the crypto token to continue to rally.

Ripple To See More Liquidity With Latest Collaboration

Blockchain company Ripple recently announced that it had partnered with Web3 financial platform Uphold. As part of the partnership agreement, Uphold is expected to provide Ripple with “enhanced crypto liquidity capabilities” to help facilitate transactions on its cross-border payments infrastructure more efficiently.

The news is significant for the XRP community because Ripple uses XRP as a utility token to help process these cross-border transactions. As such, “enhanced crypto liquidity” will generally translate to more liquidity in the XRP ecosystem, which could ultimately cause a further surge in the token’s price.

Xumm Wallet Records Milestone

XRP-based wallet Xumm announced in a post on its X (formerly Twitter) platform that it had crossed 600,000 active users in the past three months. The wallet happens to be one of the notable ones on the XRP Ledger, as it also announced plans to introduce new functionalities that could see the number of its active users increase exponentially.

In the post, Xumm mentioned that its wallet is set to become 10x more retail-friendly with the redesign they are working on. It also plans to integrate AMM and more DEX activity, which would see the wallet become 10x better. It is believed that the wallet plans to complete this integration once the AMM goes live on the XRP Ledger.

Meanwhile, the wallet’s use cases will also increase as Xumm plans to incorporate XRP’s sidechain Xahua and its ‘Hooks’ feature. These developments are bullish for XRP as they will undoubtedly increase the token’s utility.

NFTs Are Coming To XRP Ledger

Ripple had reportedly been working on tools and services to accommodate tokenized assets and facilitate trading of these assets on the XRP Ledger. The company’s efforts seem to be already paying dividends, as SBI Holdings announced plans to issue its NFT service “EXPO2025 Digital Wallet NFT,” also known as ‘Myakoon’ on the XRP Ledger.

It is believed that this development could open the door for other NFT issuers to launch their NFTs on the network. This is also more significant because of how the tokenized market is projected to grow massively to $13.6 billion by 2027. As such, XRP has the potential to be at the heart of the market when this happens.
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Token price sitting at $0.56 | Source: XRPUSD on Tradingview.com
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Featured image from CoinDesk, chart from Tradingview.com
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Scott Matherson

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October 26, 2023
Crypto Analyst Who Predicted XRP Price Breakout Reveals What’s Next | Bitcoinist.com
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Crypto analyst Alan Santana has been continuously bullish on the XRP price and has previously predicted a breakout for the digital asset. With the rise in the crypto market over the last day, the analyst’s prediction of a surge has come to pass. Now, in an update, Santana reveals what is next for the beloved altcoin.

Predicting The XRP Price Rally

Santana first took to TradingView to share his analysis of the XRP price performance on October 13. This initial post had been made when the price of the digital asset was still trading at just $0.48, and way before the United States Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple’s co-founders.

In this initial post, Santana had referred to the XRP price at the time as “great timing” for an entry and he turned out to be right. The next update from the crypto analyst was on October 16 where he said that the digital asset still had very high growth potential.
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XRP maintains bullish momentum | Source: Tradingview.com
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Then on October 20, after the SEC dropped its charges against the Ripple execs, Santana said that the victory “opens the doors for a 150% rally.” Now, while the XRP price is yet to hit this 150% target, it has already risen 114% from the time of the first post when XRP was trading at $0.48.
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XRP shows strength amid correction | Source: XRPUSD on Tradingview.com
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What’s Coming Next?

In the latest updates of the analysis, Santana explains that “XRP is showing zero signs of weakness.” As the analyst puts it, every single XRP signal across all timeframes has been waxing stronger amid the crypto market resurgence.

The analyst expects a continuation of the bullish momentum with further upside to come. Sticking to the expected 150% rally, the XRP price could run up to $0.6 before running out of steam or hitting major resistance along the way.

“Just as the chart succeeded in predicting a Ripple win and major XRP rally before the event actually took place… The chart is once more saying, ‘forget the doubters, a higher high comes next!’” Santana’s TradingView post reads.

As the analyst predicted, XRP is still showing a lot of strength in the market after crossing the $0.55 mark. Its price is up 4.98% in the last day alone. Its 11.45% weekly surge has brought its market cap above $29.4 billion, while its daily trading volume shows a 200% increase, according to data from CoinMarketCap.
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Best Owie

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October 23, 2023
XRP News: Ripple Lawyer Sends A Message To The SEC | Bitcoinist.com
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Pro-XRP legal expert Bill Morgan has voiced out his sentiments toward the US Securities and Exchange Commission (SEC) following the Commission’s decision to dismiss its claims against Ripple’s executives Brad Garlinghouse and Chris Larsen.

Pro-XRP Lawyer Wishes SEC The Worst

In a series of posts made on his X (formerly Twitter) platform, Morgan stated that he “sincerely” wishes the Commission “all the worst” in the penalties phase of the litigation and hoped that the court awards the “smallest penalties possible.”

The penalty phase that Morgan is referring to is the period in which the SEC and Ripple are expected to meet and settle on the possible fine that Ripple has to pay regarding its institutional sales, which Judge Analisa Torres ruled constituted investment contracts. However, it is believed that Judge Torres might have to step in if both parties cannot agree on a remedy.

Meanwhile, the scheduled trial to hear the SEC’s case against Ripple and its founders has been following the Commission’s dismissal of its claims against Garlingouse and Larsen. The notion that the SEC can immediately proceed to appeal has also been refuted, as Judge Torres will need to give a final judgment (acknowledging the SEC’s dismissal and deciding on remedies for the violation with respect to the institutional sales).
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Token price reacts positively to SEC withdrawal | Source: XRPUSD on Tradingview.com
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Why The SEC Deserves The Worst

In preceding tweets, Morgan had laid a foundation as to why the SEC deserves the worst and his lack of remorse for the Commission following all these losses it has gotten in its case against Ripple. He began by referring to when the SEC first filed its lawsuit against Ripple and its founders.

He noted how the Commission had sought an injunction to stop any future sale of XRP by Ripple and how this would have “ruined Rippled” and “deeply adversely affected the livelihood and lives” of Garlinghouse and Larsen if this injunction had been granted.

According to him, Ripple had done all this despite the fact that there was no allegation of fraud against Ripple and its executives, nor was there any evidence of investor harm. The regulator didn’t stop there as it also allegedly did “everything available to delay the matter and run up the defendants’ legal costs.”

Ripple’s co-founder, Chris Larsen, had voiced similar sentiments when he stated that the SEC had to be held accountable for its actions. He noted how the Commission had come after him and Garlinghouse with baseless claims and that it had actively demolished the country’s global standing as the “home for innovation.”

Featured image from Coingape, chart from Tradingview.com
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Scott Matherson

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October 21, 2023
Ripple Vs. SEC: Appeal Unlikely To Happen Soon, Potential Delay Until 2024 | Bitcoinist.com

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In a surprising twist, the US Securities and Exchange Commission (SEC) has dismissed its case against Ripple executives Brad Garlinghouse and Chris Larsen.

The dismissal agreement, reached by both parties, means that the scheduled trial for April next year will no longer proceed. However, it is important to note that while the charges against Garlinghouse and Larsen have been dropped, the SEC has not abandoned the case altogether.

SEC’s Bid For Ripple Appeal Paused

The development came to light when FOX Business journalist Eleanor Terret reported the dismissal, emphasizing that the SEC’s move did not signify the end of the case but rather the withdrawal of charges specifically against Garlinghouse and Larsen.

This revelation sparked confusion among some, prompting questions about the SEC’s intentions and potential appeals.

Terret addressed these queries, clarifying that the SEC could potentially appeal the judge’s decision made on July 13th, which determined that XRP sales on exchanges were not securities.

However, Terret pointed out that the appeal process would only be possible after a final judgment is reached, which may take months to materialize. Consequently, the SEC’s appeal is not expected until next year.

Executives Find Satisfaction In SEC’s Case Dismissal

While Ripple and its executives celebrated the dismissal as a vindication of their position, legal experts and observers weighed in on the implications.

Ripple’s Chief Legal Officer (CLO) Stuart Alderoty, expressed satisfaction with the SEC’s decision, characterizing it as a surrender by the regulatory agency. The CLO highlighted that this marked the third consecutive victory for Ripple, following the July 13th ruling and the denial of the SEC’s bid for an interlocutory appeal on October 3rd. Alderoty stated:

The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.

Notably, pro-XRP lawyer Jeremy Hogan suggested that the dismissal increased the likelihood of a comprehensive settlement between Ripple and the SEC, as the remaining legal question primarily pertains to the financial terms of the resolution.

The ongoing developments in the Ripple-SEC case have captivated the cryptocurrency community and beyond.

Ripple’s legal battle, which initially stirred controversy and uncertainty, has now taken an unexpected turn. The dismissal of charges against Garlinghouse and Larsen has opened the door to potential settlement negotiations, while the SEC’s appeal and the final judgment’s timing remain key factors to watch in the coming months.

As the case continues to unfold, stakeholders eagerly anticipate further updates and resolution, hoping for clarity on the regulatory status of XRP and its potential impact on the broader cryptocurrency industry.

XRP’s uptrend on the daily chart. Source: XRPUSDT on TradingView.com

Currently, XRP is trading at $0.5192, experiencing a substantial 6.9% increase in the past 24 hours. This surge in value follows the release of significant news, which has positively impacted both XRP’s price and its overall gains across different time periods.

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez

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October 20, 2023