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Tag: Ripple

  • Boost of Credibility for Ripple (XRP)? Nigeria Cites the Company in a Report

    Boost of Credibility for Ripple (XRP)? Nigeria Cites the Company in a Report

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    TL;DR

    • Central Bank Adoption: The Central Bank of Nigeria referenced a 2020 Ripple Labs study, indicating 85% of payment leaders from 22 nations anticipate a CBDC launch in their countries within the next four years.
    • National Digital Currency Update: By 2022, 100 CBDCs were in progress, with Nigeria’s eNaira and the Bahamian sand dollar as notable launches. However, Nigerians have been slower to embrace the eNaira compared to global cryptocurrencies.
    • Crypto Popularity in Nigeria: Amidst inflation challenges, Nigeria’s young, tech-savvy population is driving rapid cryptocurrency adoption, propelling the nation to the second spot on Chainalysis’ 2023 Global Crypto Adoption Index.

    In a recent study on central bank digital currencies, the Central Bank of Nigeria cites Ripple Labs research to support its findings about CBDCs.

    Ripple Labs Research Strengthens Case for CBDCs

    The CBN cited a Ripple study from 2020 showing that some 85% of payment leaders at financial institutions in 22 countries expected their country to launch a CBDC in the next four years.

    By 2022, there were 100 CBDCs in the research or development stage and two fully launched, “the eNaira in Nigeria, unveiled in October 2021, and the Bahamian sand dollar, which made its debut in October 2020.”

    The Nigerian central bank’s report concludes:

    Central bank digital currencies are gaining prominence as cheaper and faster alternative means of transactions with potential to improve the payments-settlement space, financial inclusion and monetary policy transmission.”

    Since launching in October 2021, Nigerians have been slow to adopt the eNaira. That’s despite support for Nigerians to use the eNaira to pay electricity bills, television subscriptions, and airline tickets.

    But Nigerians have been quick to adopt global, borderless, blue chip cryptocurrencies like Bitcoin, Ethereum, Binance Coin, and Ripple.

    Nigeria Eagerly Adopts Cryptocurrencies

    A Reuters report in September stated that “Nigeria’s young, tech-savvy population has eagerly adopted cryptocurrencies,” as the African nation grapples with soaring inflation due to weakness in its official currency.

    That’s a use case cryptocurrency adopters in developed nations can also understand.

    Furthermore, the West African nation ranks second on Chainalysis’ 2023 grassroots Global Crypto Adoption Index.

    Meanwhile, Bitcoin price is soaring to all time high prices in Nigeria, as well as the United States and other inflation stricken nations.

    Blockchain cryptocurrencies could be one key to unleashing Nigeria’s full economic potential. Nigeria is the largest economy in Africa today. As its population grows, Nigeria is on track to be the fifth largest economy on earth by 2075.

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    Wesley Messamore

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  • XRP Price Prediction: Analyst Points Out Incoming Mega Bounce, Here’s The Target

    XRP Price Prediction: Analyst Points Out Incoming Mega Bounce, Here’s The Target

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    Another bullish prediction has come in for the XRP price which is arguably more optimistic than many would expect. This time around, a crypto analyst is expecting XRP to use up its stored energy for an explosive rally that could see the altcoin rally to $27, well above its all-time high. 

    XRP Price Suppressed During Last Bull Run Because Of SEC Lawsuit

    Crypto analyst ERGAG CRYPTO recently predicted that XRP is poised for a massive 4,000% price surge. ERGAG made this prediction in an X post, detailing how this price surge can be actually possible. According to the analyst, XRP’s price was suppressed during the last major crypto bull run in 2021 due to an ongoing lawsuit from the SEC against Ripple Labs, XRP’s creator. 

    While Bitcoin and other altcoins were hitting new all-time highs, the XRP price struggled to keep up due to fears the lawsuit could severely impact the project’s future. For instance, during this time period, Bitcoin skyrocketed by 23X, and Ethereum also went up a whopping 58X. 

    A federal judge in the United States has since determined that the programmatic sales of XRP do not constitute the selling of securities. Now that the lawsuit seems to be coming to an end with a settlement in sight, XRP is poised to make up for lost time and shoot up with this lost energy. 

    The analyst predicts the XRP price could rally 40 times from its current level to $27 in the subsequent bull run, which would exactly coincide with the Fibonacci 1.618 indicator from the 2017 peak to the 2020 bottom.

    Source: X

    Although a timeline for the next bull run is not known at the moment, ERGAG puts this spike to happen around mid-2024.

     

    What’s Next For XRP?

    The entire crypto market has witnessed gains since the middle of October, and the XRP price hasn’t been left out. Bitcoin, for instance, attained a new yearly high of $35,150. At the time of writing, XRP is trading at $0.547, up by 5.73% in the past seven days. 

    Although its price is relatively low compared to other altcoins, XRP is still one of the strongest in the entire market, occupying the 5th spot in terms of market cap. 

    ERGAG CRYPTO has also had some very optimistic price predictions for XRP in the past. While a $27 price point seems very overachieving, XRP could easily smash through its previous all-time high of $3.84 in the next bull market. The analyst had initially predicted that the altcoin might not see a new all-time high by July 2028.

    Shiba Inu price chart from Tradingview.com (SHIB whales)

    XRP sees slight retracement | Source: XRPUSD on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Scott Matherson

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  • Ripple (XRP) is the Most Traded Cryptocurrency on This Exchange

    Ripple (XRP) is the Most Traded Cryptocurrency on This Exchange

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    TL;DR

    • XRP-KRW is the top trading pair on Upbit, outperforming BTC-KRW and ETH-KRW.
    • XRP has been the top-ranked trading asset on Upbit for 70 days, surpassing BTC’s 64 days.
    • XRP recently reached $0.58; predictions suggest a potential surge to $6 by 2024 after crossing the $1.30 mark.

    XRP Ranking First

    The native token of Ripple – XRP – has recently dragged the investors’ attention towards itself due to the constant positive developments surrounding the lawsuit against the US Securities and Exchange Commission and the subsequent price increase of the asset. 

    A research conducted by the crypto market data provider Kaiko revealed that XRP-KRW is the most popular trading pair on the popular South Korean exchange Upbit. Year-to-date (YTD) transaction volume involving it has surpassed $30 billion, while BTC-KRW ranks second. 

    Interestingly, ETH-KRW is in the ninth position, outpaced by Dogecoin (DOGE), Solana (SOL), and other digital assets that Upbit users would instead trade.

    It is worth noting that the trading pair involving XRP has been at the top of the ranking for the most days – 70, followed by BTC-KRW at 64. 

    XRP’s Recent Ascend

    The coin’s valuation has lately been on a significant rise, surpassing $0.58 earlier this week to reach a two-month high. According to some experts and analysts, the current bullish condition of the market, a potential decisive win against the SEC, and other regulatory developments could drive XRP’s price even higher.

    The popular X (Twitter) user Dark Defender recently predicted it could explode by approximately 1,000% by the end of 2024. According to them, the forecast could become a reality if XRP manages to overcome several support and resistance levels, such as the $1.30 mark. From that moment on, it could reach $6 in a matter of a few months, Dark Defender opined.

    Those willing to check what are XRP’s chances for a price surge in the remaining months of 2023 could take a look at the video below:

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    Dimitar Dzhondzhorov

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  • Another Important Partnership Concerning Ripple (XRP) and SHIB

    Another Important Partnership Concerning Ripple (XRP) and SHIB

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    TL;DR

    • BitPay partners with Banxa, expanding global payment methods for purchasing digital assets.
    • Users can utilize regional banking options, including iDEAL in the Netherlands and SEPA in Europe.
    • Ripple (XRP) and Shiba Inu (SHIB) see significant price surges recently.

    The cryptocurrency payment application – BitPay – announced on X (Twitter) that it had joined forces with the settlement provider Banxa.

    The initiative enables BitPay clients across the globe to purchase multiple digital assets, including Ripple (XRP) and Shiba Inu (SHIB), in numerous banking methods and employ a variety of fiat currencies. 

    “BitPay is excited to announce our newest partner, Banxa. Together, BitPay and Banxa are expanding the payment methods available to BitPay users in the Wallet app and online at the BitPay website,” the team disclosed.

    According to the official statement, crypto investors from the Americas, Europe, Asia, Africa, and Oceania could hop on the bandwagon using local payment methods, whereas those in the Netherlands can use iDEAL – an e-commerce system that enables people to complete transactions online using their bank credentials.

    Additionally, European customers can employ the SEPA method, whereas the ones in the US can take advantage of the ACH – a financial network used for electronic settlements and money transfers. 

    XRP and SHIB – two of the supported cryptocurrencies by BitPay – have performed quite well in the past few days. The former recently surged to a two-month high of over $0.58, while the latter has surged by approximately 10% in the last 24 hours and 20% on a weekly basis.

    Those curious to find out how high XRP can spike during the last quarter of 2023 could take a look at our video below:

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    Dimitar Dzhondzhorov

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  • XRP News: Why Is November 8-9 Important To Ripple? | Bitcoinist.com

    XRP News: Why Is November 8-9 Important To Ripple? | Bitcoinist.com

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    Like many other crypto companies, Ripple has important dates and events that carry the possibility of triggering a bullish momentum for the XRP token. This is why some dates are more important than others and the most recent of these to emerge is the November 8-9 dates.

    What Is Ripple Doing On November 8-9?

    In the early hours of Thursday, XRP Captain, a prominent member of the XRP community with over 57,000 followers on X (formerly Twitter) posted a screenshot that caught the attention of community members. The image showed the Ripple Swell event which was scheduled to take place on November 8 and 9.

    XRP Captain also captioned the image in a way that suggested that this is an important date for the community, saying: “Save The Date #XRP Could Make History On This Date.” So it looks like the analyst is expecting the XRP price to surge on account of the event.

    Taking a deep dive into the Ripple Swell event, it happens to be a two-day event held by Ripple every year. The conference helps to bring together customers, partners, and prospects and is a strictly by-invitation event – meaning only those invited by the company can attend.

    The event which was held virtually for the years 2020, 2021, and 2022 is now back to being an in-person conference and is being held in Dubai. Over 40 countries are expected to be represented at this conference with more than 80 speakers and over 600 attendees.

    Token price sitting at $0.55 | Source: XRPUSD on Tradingview.com

    A multitude of topics are expected to be covered at this event such as the future of crypto, regulation, payments, compliance, and Central Bank Digital Currencies (CBDCs), among others. “Ripple Swell will cover a sweeping range of topics from Ripple customers, team members, and industry thought leaders to reveal how financial institutions and businesses alike are leveraging crypto and blockchain technology,” the website reads.

    Will This Affect The XRP Price?

    So far, there have been no indicators as to whether this will actually have any impact whatsoever on the XRP price. Ripple Swell does not look like a highly publicized conference, so the event itself being held may not have a direct effect on the price.

    However, if Ripple were to make a significant announcement at this event, such as an impending IPO or something similar, then there could be an impact on the XRP price. Still, there is no indication that anything other than industry discussions is what is happening at this event.

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    Best Owie

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  • Top 3 XRP Developments You Should Be Aware Of That Could Boost Price

    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. 

     

    Token price sitting at $0.56 | Source: XRPUSD on Tradingview.com

    Featured image from CoinDesk, chart from Tradingview.com

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    Scott Matherson

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  • Ripple Execs’ Case Officially Dismissed: What It Means

    Ripple Execs’ Case Officially Dismissed: What It Means

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    On Monday, October 23, 2023, US District Judge Analisa Torres signed an order that formally dismissed the US Securities and Exchange Commission’s (SEC) case against Ripple executives Brad Garlinghouse and Chris Larsen. With this landmark order, the claims levied by the SEC against these Ripple figures are terminated in their entirety, marked with prejudice, ensuring that similar claims cannot be brought against them in the future over the same matter.

    What This Means For The Ripple Execs

    Fred Rispoli, a known pro-XRP attorney and senior managing partner at Hodl Law, provided an analysis of the dismissal order. He highlighted that the judge’s order of dismissal was exceptionally precise in its scope. It referred exclusively to “Institutional Sales” of XRP by Ripple executives and omitted the other two categories: “Programmatic Sales” and “Other Distributions.”

    This, Rispoli argues, was a strategic decision. While the dismissal grants Garlinghouse and Larsen protection from being pursued by the SEC concerning Institutional Sales, thanks to the ‘with prejudice’ condition, it does not offer the same shield for the other two categories. This essentially means that if the SEC decided to appeal and subsequently managed to reverse the court’s decision on “Programmatic Sales” and “Other Distributions,” the executives could find themselves back in the legal crosshairs.

    Drawing attention to this peculiarity, Rispoli posited, “If the SEC manages a win on its appeal, their hands would be tied in terms of pursuing any further action regarding Institutional Sales. However, the absence of a comprehensive dismissal spanning all sales categories could be a double-edged sword.” He seemed to suggest that Garlinghouse and Larsen might have achieved a more robust legal safeguard if all types of XRP sales had been included in the dismissal.

    Summarizing his analysis, Rispoli stated:

    Point: If I were Brad Garlinghouse and Chris Larsen, I would have demanded dismissal of ALL claims, not limiting it to Institutional Sales only. If the SEC appeals and overturns ruling on other sales, SEC can still sue BG and CL on those two other categories

    Engaging in the dialogue, Roisin The XRP Queen, a prominent figure in the community, subtly hinted at the possibility of behind-the-scenes negotiations or agreements that might play a pivotal role in future developments. Rispoli agreed, emphasizing that any possible appeal by the SEC would only be of significant concern if there weren’t undisclosed agreements in motion.

    “Exactly. Not including the other two categories in the dismissal only becomes a problem if there is an appeal by the SEC,” remarked the attorney.

    Crucial Details

    The genesis of this litigation harks back to December 22, 2020. The SEC, in its official complaint, alleged that Garlinghouse and Larsen had unlawfully funneled finances into Ripple via the sale of unregistered XRP, particularly targeting institutional investors. Ripple’s XRP sales activities were classified into three distinct categories: institutional, programmatic, and other distributions.

    Judge Torres, in a pivotal ruling, demarcated the sales, stating that only the institutional sales infringed upon the law. This distinction absolved the programmatic sales and other distributions from being deemed unlawful. Such a determination had initially paved the way for a focused trial on institutional sales set for the next year. But, in light of the SEC’s recent decision to retract its charges, that scheduled trial has evaporated.

    With the latest turn of events, the crypto and legal spheres are buzzing with conjectures about the SEC’s perspective maneuvers. A prevailing sentiment, resonated by Rispoli and several other legal analysts, is that the horizon might herald a settlement between the SEC and Ripple. However, it is important to note that the SEC still has the prerogative to appeal after the final ruling.

    At press time, XRP traded at $0.5426.

    XRP price hovers below the 0.236 Fib, 1-day chart | Source: XRPUSD on TradingView.com

    Featured image from Law.com, chart from TradingView.com

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    Jake Simmons

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  • Crypto Analyst Who Predicted XRP Price Breakout Reveals What’s Next | Bitcoinist.com

    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.

    XRP maintains bullish momentum | Source: Tradingview.com

    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.

    XRP price chart from Tradingview.com (Crypto analyst)

    XRP shows strength amid correction | Source: XRPUSD on Tradingview.com

    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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  • Pro-XRP Lawyer Deaton Exposes Clayton’s Agenda Vs. Ripple

    Pro-XRP Lawyer Deaton Exposes Clayton’s Agenda Vs. Ripple

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    John E Deaton, a prominent lawyer known for representing XRP holders and vocalizing his criticisms of Jay Clayton’s tenure as the SEC Chairman, recently took to Twitter to highlight what he believes to be glaring conflicts of interest surrounding the SEC’s enforcement action against Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen.

    Deaton tweeted, “When the XRP case was filed on Clayton’s last day in charge at the SEC, I immediately pointed out the massive conflicts of interest by him voting to bring an enforcement action against Ripple, Brad Garlinghouse and Chris Larsen.”

    This tweet comes in the wake of a statement made by Brian Costello, who lambasted the SEC’s role in allegedly concealing financial misdeeds connected to Chinese executives.

    Costello remarked that under both Clayton and current chairman Gary Gensler’s leadership, the SEC may have overlooked potential misdemeanors tied to specific Chinese business magnates, singling out Neil Shen from Sequoia.

    Costello stated:

    The SEC’s role in hiding Chinese executives, like Neil Shen from Sequoia, and other US capital market crimes has played a significant role in normalizing China’s frauds. Gary Gensler and Jay Clayton, you had an opportunity to prioritize our nation’s defenders, but your personal interests prevailed.

    The Hidden Agenda By Clayton And Gensler

    Peeling back the layers of professional entanglements, Deaton unveiled potential biases arising from Clayton’s affiliations. He underscored Clayton’s association with Patrick Berarducci of the prestigious Sullivan & Cromwell law firm. Intriguingly, Berarducci had also served as Deputy GC at Consensys, a pivotal entity in the Ethereum ecosystem, and as Co-Chair of The Brooklyn Project.

    Highlighting these intricate connections, Deaton noted, “One of Clayton’s partners at Sullivan & Cromwell, Patrick Berarducci, was deputy general counsel at Consensys and co-chair of The Brooklyn Project, which claimed to be building an alliance with the SEC related to crypto.”

    As Deaton highlights, other lawyers from Sullivan & Cromwell also went to work at Consensys. Moreover, the law firm not only represented Ethereum’s Consensys but “also brokered the deal when Consensys acquired JP Morgan’s Quorum and the JPMCoin. Clayton & Hinman, along with Hinman’s partner Leming Chen, brought the Alibaba IPO to market. Simpson Thacher’s Chen went to Alipay.”

    Further complicating matters, Deaton draws attention to the spirited rivalry between cryptocurrencies, underscoring the intense competition between XRP and ETH. He reminisces, “XRP & ETH battled each other for the #2 spot behind BTC for years.”

    Such rivalries, when juxtaposed against Clayton’s professional affiliations, beget concerns of impartiality in enforcement decisions involving Ripple. The lawsuit against Ripple may have set the company back years – a head start that may have yielded major advantages for Consensus and Ethereum.

    Challenging Clayton’s actions head-on, Deaton asserted, “At his confirmation, Clayton agreed he would be conflicted from voting AGAINST an enforcement action involving one of S&C’s clients. But, paradoxically, he voted FOR an action AGAINST Ripple, a formidable adversary of his law firm’s client.”

    Pro-XRP Lawyer Uncovers More Ties

    Deaton doesn’t stop there though. He delves into Clayton’s affiliations post-SEC, emphasizing his association with entities like Apollo Group and One River, which have substantial stakes in cryptocurrencies. Most notably, Deaton pointed out, “Clayton joined One River after it made a $1B bet on BTC & ETH, the only two Crypto assets given regulatory clarity by Hinman’s speech.”

    Moreover, Deaton does not hold back on William Hinman, former director of the SEC’s Division of Corporation Finance, suggesting infractions and conflicts during his term. As Bitcoinist reported, William Hinman is in the crosshairs of the XRP community for his documented strong ties to Ethereum’s Vitalik Buterin and Joseph Lubin prior to his famous speech.

    Expounding further, Deaton accentuates potential collusion, indicating a meeting between Clayton and Gensler, his successor. He provocatively ponders, “Why would you file a case of this magnitude on your last day and then leave it for the next administration to deal with? Or was this a coordinated effort?”

    At press time, XRP traded at $0.5236.

    XRP price rises above the 200D EMA, 1-day chart | Source: XRPUSD on TradingView.com

    Featured image from Medium, chart from TradingView.com

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    Jake Simmons

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  • Expert Gives Ripple The ‘Royal Flush’ In Potential Settlement With SEC – Here’s Why | Bitcoinist.com

    Expert Gives Ripple The ‘Royal Flush’ In Potential Settlement With SEC – Here’s Why | Bitcoinist.com

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    Investment expert and seasoned author Linda P. Jones recently weighed in on the ongoing legal showdown between Ripple and the United States Securities and Exchange Commission. The financial analyst provided an insight into what will likely go down if the payment company and the SEC meet at the negotiation table.

    Talks of a potential settlement between Ripple and the SEC started cropping up after the financial regulator dropped the charges against executives Brad Garlinghouse and Chris Larsen, marking another victory for the company behind the XRP token.

    Reason Why Ripple Has Upper Hand In Settlement: Linda P. Jones

    In a post on the X (formerly Twitter) platform, Linda P. Jones implied that Ripple has the upper hand if they sit to negotiate with the SEC. This came as a response to a breakdown from Fred Rispoli, a lawyer and vocal XRP supporter.

    Following the dismissal by the SEC on Thursday, October 19, Fred Rispoli speculated that the SEC is most likely considering a “final settlement” with Ripple. “While the letter states the parties are conferring on a remedies briefing schedule, my guess is settlement amounts are flying back and forth between the lawyers as I type,” Rispoli added.

    While agreeing with Rispoli’s stance, Jones added that Ripple has a “royal flush”. According to the seasoned author, this means that the payment company won’t be negotiating, as they “can literally name their terms.”

    Furthermore, Jones highlighted in her post the exposure of the Hinman emails and how it takes the bargaining power from the SEC. “Ripple can 100% name their terms in the ‘settlement’,” she asserted in the post.

    For context, the Hinman emails refer to documents linked to William Hinman, the former director of the SEC’s Division of Corporation Finance. These documents were made public earlier this year and revealed the former director’s statement that Bitcoin and Ethereum were not assets he considered securities.

    The Ripple Vs. SEC Case Is Over, Attorney Claims

    The recent developments in the tussle between Ripple and the SEC have continued to spark commentary and broad discussions from the crypto community. Pro-XRP lawyer Jeremy Hogan is the latest to share an insight into the long-running legal showdown.

    In a series of posts on X, the attorney asserted that “‘for all Intents and Purposes’, the Ripple vs. SEC case is over.” While Hogan acknowledged the possibility of a settlement and the SEC’s intent to appeal, he does not believe that the financial regulator has a great chance of winning on appeal.

    Going further, Hogan likened the odds of the commission winning an appeal to the NFL team New York Jets winning the Super Bowl. “The chance of the SEC winning is exactly 2.367%,” the pro-XRP lawyer added.

    XRP price moves sideways on the daily timeframe | Source: XRPUSDT chart on TradingView

    Featuured image from Unsplash, chart from TradingView

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    Opeyemi Sule

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  • LBRY Shuts Down After Legal Battle With SEC

    LBRY Shuts Down After Legal Battle With SEC

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    LBRY Inc., a cryptocurrency platform, announced its closure due to a court failure against the Securities and Exchange Commission (SEC). The SEC charged LBRY with making an unregistered securities offering by selling its native LBC tokens.

    The fallout from this legal fight has prompted worries about unequal access to justice and regulatory overreach in the crypto business, which has disproportionately impacted smaller startups with minimal financial resources.

    LBRY Inc. reported that the company was compelled to discontinue operations because of obligations owed to the SEC, legal team, and private creditors totaling several million dollars.

    LBRY’s Financial Struggles

    The SEC first sought a $22 million penalties, which was later lowered to $111,614. This lowered fine was a major financial blow for LBRY, making it impossible for the company to continue operations.

    The scenario exemplifies the difficulties that crypto businesses can face when they are pursued by regulatory agencies, particularly smaller startups with minimal financial resources.

    The SEC has been accused of regulatory overreach in pursuing LBRY, with critics suggesting that the agency should focus on big issues in the crypto business rather than minor instances of securities noncompliance.

    However, this case highlights the SEC’s ability to control the cryptocurrency market through enforcement proceedings.

    Ripple’s Contrasting Legal Victory

    The downfall of LBRY contrasts sharply with Ripple’s recent court success in its ongoing struggle with the SEC. Ripple acquired funding from a multibillion-dollar corporation, allowing it to continue its legal battle.

    Crypto total market cap currently at $1.10 trillion. Chart: TradingView.com

    While LBRY Inc.’s controlled operations are ending, the LBRY blockchain, an open-source initiative, may continue to exist if sufficient user engagement is obtained. However, the business stated that decentralization may only succeed if active development and user participation are present.

    With millions of registered users and a large volume of published material, the LBRY blockchain acted as a decentralized file-sharing network. Odysee, a decentralized social networking platform built on the LBRY blockchain, has a substantial user base. However, its future is now in doubt.

    In a broader sense, the legal disputes in the crypto business are altering the securities law landscape. Both LBRY and Ripple have been accused with selling unregistered securities, but their outcomes have set developing precedents.

    These results have prompted concerns about the SEC’s capacity to win legal battles against other crypto businesses.

    As LBRY succumbs to regulatory pressure, it represents the obstacles encountered by smaller crypto businesses, as well as the broader issue of unequal access to justice in the cryptocurrency industry’s growing regulatory context.

    Featured image from Conseils Crypto

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    Yuna Rin

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  • XRP News: Ripple Lawyer Sends A Message To The SEC | Bitcoinist.com

    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).

    Token price reacts positively to SEC withdrawal | Source: XRPUSD on Tradingview.com

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

    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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  • Pro-XRP Lawyer Deaton Blasts SEC For Millions Wasted

    Pro-XRP Lawyer Deaton Blasts SEC For Millions Wasted

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    Prominent pro-XRP lawyer John Deaton has launched a scathing critique of the US Securities and Exchange Commission (SEC) in light of the regulatory body’s actions against blockchain company LBRY Inc. Deaton, renowned for representing XRP holders in the Ripple-SEC lawsuit, marked the regulatory body’s conduct as an exhibit of overreach.

    “The LBRY case should be taught in law schools across the country,” Deaton asserted on X (formerly Twitter), emphasizing its significance not just in applying “the Howey Test to modern-day blockchain technologies and crypto,” but also as a “specific highlight [of] SEC overreach.”

    Pro-XRP Lawyer Deaton Slams SEC

    Elaborating further on his stance, Deaton criticized the SEC’s choice to pursue LBRY Inc., a relatively smaller entity, despite there being larger, more questionable activities to scrutinize within the crypto sector. He remarked that the regulatory body “picked a small American Company based out of New Hampshire, threatened to bankrupt it during the investigation, and then proceeded to bankrupt it – in a case where no fraud or misrepresentation occurred.”

    Meanwhile, the US Securities and Exchange Commission (SEC) has seemingly turned a blind eye to the real scammers in the crypto ecosystem. Deaton cites “FTX, Celsius Network, Voyager, Luna, Genesis, [other] pump and dumps” as potential targets for the US agency that it could have investigated and stopped to protect US retail investors. Instead, all of these companies caused a massive amount of damage.

    Deaton’s tweet came in response to an announcement by LBRY Inc. Marked by a tone of resignation, they unveiled their decision to cease operations amidst unsustainable debts and continuous challenges posed by the SEC. The firm was initially slapped with a $22 million fine, which was later mitigated to $111,000 by the SEC, in cognizance of LBRY’s financial duress.

    Following this, the company withdrew its appeal against the SEC and commenced its wind-down procedures, with all executives, employees, and board members tendering their resignations.

    Commenting on the LBRY case’s broader implications, Deaton highlighted the expenditure of “millions of dollars” resulting in a $130,000 fine, painting a picture of inefficiency and failure on the part of the SEC.

    His condemnation didn’t just pertain to the financial aspects but extended towards the regulatory approach and discernment exercised by the SEC in choosing its battles within the crypto landscape:

    After millions of dollars were wasted, the SEC got a $130K fine. This case alone proves the SEC is a broken, failed and inept agency.

    Remarkably, the conclusion of LBRY’s journey has elicited a mixture of disappointment and resilience from the crypto community. Despite the unfolding adversities, community members have conveyed their willingness to sustain LBRY’s open-source blockchain network, Odysee, showcasing the persistent spirit of the decentralized ethos.

    At press time, XRP was trading at $ and eyed a daily above the 200-day EMA ($0.5172)

    XRP price sits just below the 200D EMA, 1-day chart | Source: XRPUSD on TradingView.com

    Featured image from Crypto Economy, chart from TradingView.com

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    Jake Simmons

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  • XRP Price Prediction – Rally To $0.55 On The Cards As Dips Turns Attractive

    XRP Price Prediction – Rally To $0.55 On The Cards As Dips Turns Attractive

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    XRP price is gaining pace above the $0.50 resistance against the US Dollar. The SEC’s case against Ripple’s executives was dropped, sparking bullish moves.

    • The price started a strong increase above the $0.50 resistance.
    • The price is now trading above $0.505 and the 100 simple moving average (4 hours).
    • There was a break above a major bearish trend line with resistance near $0.4885 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
    • The pair might correct lower, but the bulls could remain active near $0.50.

    XRP Price Jumps 10%

    After forming a base above the $0.480 level, XRP started a fresh increase. Recently, the SEC dropped its case against Ripple’s executives. It sparked a sharp increase in XRP above the $0.50 resistance.

    There was a break above a major bearish trend line with resistance near $0.4885 on the 4-hour chart of the XRP/USD pair. The pair even broke the 50% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low.

    XRP price is now trading above $0.505 and the 100 simple moving average (4 hours). It is also helping Bitcoin, Ethereum, Solana, and other cryptocurrencies in moving higher.

    On the upside, immediate resistance is near the $0.524 level or the 61.8% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low. The first major resistance is near the $0.532 level. A close above the $0.532 level could send the price toward the $0.550 resistance.

    Source: XRPUSD on TradingView.com

    If the bulls remain in action above the $0.550 resistance level, there could be a drift toward the $0.565 resistance. Any more gains might send XRP toward the $0.585 resistance.

    Are Dips Limited?

    If XRP fails to clear the $0.524 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.512 zone.

    The next major support is at $0.505. If there is a downside break and a close below the $0.505 level, the price might accelerate lower. In the stated case, the price could retest the $0.4850 support zone.

    Technical Indicators

    4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

    Major Support Levels – $0.512, $0.505, and $0.485.

    Major Resistance Levels – $0.524, $0.532, and $0.550.

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    Aayush Jindal

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  • Another Curious Ripple (XRP) Rumor (Hint: It’s not the IPO)

    Another Curious Ripple (XRP) Rumor (Hint: It’s not the IPO)

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    TL;DR

    • Speculation suggests France might use XRP for its digital euro, backed by positive references from Banque de France.
    • The European Union is progressing towards a digital euro with recent European Central Bank movements.
    • Bhutan and Montenegro have already collaborated with Ripple for their CBDC efforts.

    Could XRP Find a Spot in France’s Future Financial Plans?

    Several X (Twitter) users have recently speculated that one of the leading European economies – France – might commit to Ripple’s native token – XRP – for its digital euro. One such person is the CEO of Alpha Lions Academy, using the handle EDO FARINA. 

    They reminded that the nation’s central bank successfully used CBDC in a test environment two years ago. In addition, the financial institution has previously praised Ripple and XRP in a paper called “Implementation of real-time settlement for banks using decentralized ledger technology policy and legal implementations.”

    Specifically, Banque de France outlined the coin’s ability to be used as an intermediary asset to bridge any currency pair. 

    The European Union (EU) has recently taken some vital steps towards launching a digital version of the euro: a controversial monetary product that received support from some central bankers but was also bashed by certain cryptocurrency proponents who assumed it might be used as a tool for surveillance. 

    Earlier this week, the Governing Council of the European Central Bank (ECB) moved the project to a “preparation phase,” while an official launch is expected in the following years.

    XRP’s Involvement in Other CBDCs

    France is not the only nation that has supposedly decided to employ Ripple’s native token in its central bank digital currency (CBDC) efforts.

    As CryptoPotato reported, the Royal Monetary Authority (RMA) – Bhutan’s central bank – partnered with the blockchain enterprise in 2021 to launch a digital version of its official currency, “enhance digital and cross-border payments,” and expand financial inclusion efforts.

    Earlier this year, Montenegro’s central bank also collaborated with Ripple to develop a strategy for its CBDC. The financial institution has also contemplated using the firm’s help in introducing a stablecoin.

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    Dimitar Dzhondzhorov

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