XRP Price Attempts Bullish Decoupling Amid Major Developments

The XRP price continues to remain suppressed under the heat of the Ripple vs. the United States Securities and Exchange Commission (SEC) legal battle. This suppressed price action has continued to discourage investors when its comes to the altcoin. However, not everyone has succumbed to the bearish pressure, as crypto analyst RLinda believes that the [...]

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Analyst Says XRP Price Will Reach $100, But This Needs To Happen First

Crypto analyst JackTheRippler has raised the possibility of the XRP price rising to $100 soon enough. As part of his prediction, he mentioned what needs to happen for the crypto token to attain such ambitious heights.  How XRP Price Could Rise To $100 JackTheRippler suggested in an X(formerly Twitter) post that the XRP price hitting $100 was inevitable once the case between the Securities and Exchange Commission (SEC) and Ripple came to an end. Furthermore, he predicted that XRP could rise to as high as $10,000, claiming that the crypto token hitting five figures was achievable after the lawsuit. Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading The analysts remarks again highlight the belief among members of the XRP community that the SECs lawsuit against Ripple has greatly hindered XRPs growth. Specifically, the lawsuit is believed to be why XRP underperformed in the 2021 bull run, having made remarkable strides in the 2017 bull run (long before the lawsuit was instituted).  Meanwhile, in his remarks, JackTheRippler alluded to XRP gaining regulatory clarity once the case between the SEC and Ripple was over. This statement caught the attention of some of his followers, who pointed out that it had gotten clarity following Judge Analisa Torres ruling that XRP isnt a security.  Interestingly, XRP has failed to mount any significant run despite gaining this clarity last year. This is one reason why some XRP holders seem to have lost faith in the crypto token, as expectations were high following Judge Torres ruling. However, nothing much happened as the crypto token briefly rose on the back of the ruling but steadily declined in the following weeks.  Therefore, these holders will likely be cautious about getting their hopes high despite JackTheRipplers optimism since XRP could still maintain its unimpressive price action even after the SECs lawsuit is over.  The SECs Lawsuit May Not Be Ending Anytime Soon Meanwhile, it is worth noting that the case between the SEC and Ripple could even drag on beyond this year, irrespective of the outcome of the penalties stage, as both parties are likely to appeal certain rulings. This means that XRP holders might have to wait a while to see if the crypto token hits $100 based on JackTheRipplers prediction.  Related Reading: Shiba Inu Whales Move Over 3.19 Trillion SHIB, Where Are They Headed? If the case is prolonged beyond this year, XRP could miss out on achieving its true potential in this bull run if the lawsuit is indeed acting as a stumbling block to its progress. The lawsuit has, however, not stopped crypto analysts like Egrag Crypto from making bullish predictions for XRP in this bull run. He predicts the crypto token could rise to as high as $27 at this market peak.  At the time of writing, XRP is trading at around $0.54, up over 2% in the last 24 hours, according to data from CoinMarketCap.  XRP price shows bullish momentum | Source: XRPUSDT on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com

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503M $TICS Sold in 27 Presale Stage, Qubetics Is Lining Up as the Next Crypto to Hit $1 with XRP and NEAR Protocol in the Mix

Qubetics raises $15.5M and is the next crypto to hit $1 with 11,437% ROI as NEAR flashes bullish charts and XRP gains from legal clarity. Join this crypto presale now.

The post 503M $TICS Sold in 27 Presale Stage, Qubetics Is Lining Up as the Next Crypto to Hit $1 with XRP and NEAR Protocol in the Mix appeared first on Kanalcoin.

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Ripple CEO Responds To SECs Shocking $2 Billion Demand

In a rather shocking development, the United States Securities and Exchange Commission (SEC) has demanded a $2 billion sanction against Ripple. Responding to the startling demands, Ripples Chief Executive Officer (CEO), Brad Garlinghouse has taken a firm stance against the agencys demands, determined to expose the true nature of the SEC. Ripple CEO Criticizes SECs Demands Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple recently disclosed in a post on X (formerly Twitter) that the US SEC has petitioned a Judge for $2 billion in fines and penalties against Ripple. According to the Ripple CLO, the SEC is in a relentless pursuit to punish and intimidate Ripple, rather than faithfully applying the law.  Related Reading: Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next Challenging the SECs $2 billion penalty, Garlinghouse emphasized that the agency has consistently operated beyond the bounds of law in various enforcement actions. He disclosed that Judges have also taken note of the SECs actions, previously admonishing the agency for its extensive abuse of power entrusted to it by Congress.  The Ripple CEO also criticized the SECs penalty demand, arguing that it lacks precedent and justification, particularly given the absence of any allegations, findings of fraud or recklessness in the case. As a result, Garlinghouse has vowed to expose the SEC for its conduct, emphasizing that Ripple will vigorously respond to the SECs action.  Notably, Alderoty has disclosed that the companys legal team will be addressing the SECs demands in a filing scheduled for next month. Offering his perspective on the SEC, the Ripple CLO characterized the agency as one that trades in statements that are false, mischaracterized and designed to mislead. SEC Actions Hurt XRP Holders The Most In its lawsuit against Ripple, the US SEC accused the payment company of violating securities laws by selling XRP in unregistered securities offering to investors in the US. According to the agency, the company and its executives had allegedly failed to protect its investors, depriving them of adequate disclosures of XRP.  However, members of the Ripple community argue that the SECs enforcement actions against Ripple have not protected investors but caused even deeper challenges and financial losses for XRP holders.  Related Reading: Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy? A popular XRP enthusiast, identified as XRPCryptoWolf has asserted that it should be the SEC, not Ripple, paying billions to XRP holders.  The SEC asking for $2 billion in fines and penalties is ridiculous when theyre the ones who financially hurt XRP holders the most. The SEC owes XRP holders tens of billions of dollars, he stated.  The XRP community member disclosed that after the SEC announced its lawsuit against Ripple, approximately $15 billion was wiped out from XRPs market capitalization, and the token was also delisted from major exchanges. As a result of the lawsuits significant impact on XRPs value, millions of XRP holders experienced financial losses. XRP price at $0.644 | Source: XRPUSDT on Tradingview.com Featured image from Inside Bitcoins, chart from Tradingview.com

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BREAKING: Spot ETF for Bitcoin Rejected by SEC

Bitcoin Spot ETF Rejection: everything you need to know on this breaking story.  Covered: SEC has rejected VanEck Spot ETF Bitcoin is down off the news, but only 2% on the day Bitcoin-related stocks like Hut mining are still up over 6% SEC claims investor protection is not “strong enough”, citing fraudulent trading concerns Tether […]

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Grayscale Files to Convert their Bitcoin Fund to Spot ETF

It’s ETF October, and the news continues to roll in. Grayscale, the proprietors of GBTC, the most popular traditional investment vehicle for Bitcoin in the US has filed to convert their Bitcoin fund into a spot ETF. Grayscale has the largest Bitcoin fund in the United States, with nearly 39 billion in assets under management. […]

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Ripples Legal Battle: SEC Appeal and Cross-Appeal Possibilities

Lawyers Kristi Warner and James Murphy discussed the current developments of the Ripple case, specifically on the SECs recent motion. They also considered whether they might be able to file a cross-appeal and what the ramifications of doing so might be for this case and the crypto market. The Ripple case has dominated much of […]

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Second XRP ETF Filing Hits The Market, How Did The XRP Price Respond?

The crypto ETF market is expanding at an alarming rate, with news of a second XRP Exchange Traded Fund (ETF) filing spreading across the space. Canary Capital, a boutique Sydney investment and corporate advisory firm has just filed an XRP ETF, following Bitwises lead. With the new ETF filing, the price of XRP could see a possible change in the future.  Canary Capital Files New XRP ETF On Tuesday, October 8, Canary Capital submitted an official S-1 filing for an XRP ETF with the United States Securities and Exchange Commission (SEC). This filing comes just after Bitwise, another top asset management company filed for an ETF on September 30, marking the first ever XRP–based ETF in the crypto market.  Related Reading: Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle According to Canary Capitals new filing, the Trusts investment goal is to provide direct exposure to the value of XRP, enabling investors to access this cryptocurrencys market through a brokerage account. Through this method, Canary Capital intends to limit the potential barriers to accessing the market and reduce the risks involved in acquiring and holding XRP.  Canary Capital has also stated that it aims to track the performance of XRP in the market, as measured by the Trusts Pricing Benchmark. This pricing benchmark will utilize a similar methodology to the real-time price of the Chicago Mercantile Exchange (CME) CF Ripple index.  While divulging the objectives and risk factors associated with an XRP ETF, Canary Capital failed to disclose the identity of the custodian for its potential XRP ETF. The investment management company also did not provide details on the ticker to be used for its XRP ETF, however, revealed that the Trustee for the investment product would be the Delaware Trust company.  Despite the optimism Canary Capitals new XRP ETF filing has generated in the crypto community, both its application and Bitwises still require approval from the SEC before they can launch in the market.  Presently, the likelihood of a swift approval appears low, considering Ripples ongoing legal battle with the regulator. Earlier this month, the US SEC submitted a new appeal to challenge the courts July 2023 ruling that programmatic sales of XRP are not considered securities.  XRP Price Falls As Regulatory Uncertainty Clouds Optimism Despite Canary Capital’s new XRP ETF filing, the price of XRP has been on a downward trend, showing no signs of moving out of bearish momentum trends. CoinMarketCaps data shows that XRP has fallen by 0.72% in the last 24 hours and another 0.79% over the past week.  Related Reading: Bitcoin Price Fails At MA-200, Is A Crash To $52,000 Coming? The cryptocurrency has been in the red for the past few weeks, only seeing slight gains when market conditions turn significantly favorable. With the new XRP ETF, many would expect the XRP price to rally, as anticipation for the investment product builds in the crypto space. However, XRP is still consolidating around the $0.5 mark, even experiencing a decrease in its 24-hour trading volume.  It is clear that XRPs bullish momentum has been completely overshadowed by regulatory uncertainty and negative sentiment. Despite this, many in the XRP community continue to maintain a positive outlook, expecting the price of XRP to break out to the upside soon.  Featured image created with Dall.E, chart from Tradingview.com

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