XRP Witnesses Second and Third Largest Address Activity Spikes, Decouples from Altcoin Market
XRP has experienced its second and third largest spikes in address activity in the past two days, with up to 490.35K addresses interacting with the network on May 28.
Ripple's Token Price Rallies 5% and Could Continue to Rise Toward Resistance Levels
Ripple's XRP token has surpassed the $0.50 resistance level against the US Dollar and may continue to rise towards the $0.525 and $0.550 resistance levels. The price is currently trading above the 100 simple moving average (4 hours) and a key bullish trend line is forming with support near $0.4910.
Bitcoin Falls While XRP Gains Amidst Positive Developments in Ripple Lawsuit
Bitcoin experienced a drop in Tuesday morning trading in Asia, following Monday's gains due to profit taking. Most of the top 10 non-stablecoin cryptocurrencies, including Ether, also experienced losses, except for XRP which rose due to speculation that it is underpriced.
Lawyer Concerned Judge Torres Won't Rule on XRP as Security in SEC vs Ripple Lawsuit
Australian lawyer Bill Morgan expressed concern on Twitter that Judge Analisa Torres will not address whether XRP is a security in the ongoing lawsuit between Ripple and the SEC. Morgan highlighted a portion of Judge Torres' decision on the parties' Daubert motion, which stated that the issue in the case is whether Ripple offered to sell or sold XRP as a security. Morgan hopes that Judge Torres will rule on whether XRP itself is a security, but he is concerned that she has already indicated that she will not issue a ruling on the matter. Attorney Jeremy Hogan shared three factors that could prompt Judge Torres to address secondary market sales of XRP coin.
Unsealing William Hinman's Emails Inevitable Even if SEC Settles with Ripple, Says Prominent Pro-XRP Attorney and Ripple CTO
According to prominent pro-XRP attorney John Deaton and Ripple CTO David Schwartz, the unsealing of William Hinman's emails is inevitable, even if the SEC settles with Ripple. This was revealed during a discussion initiated by a known figure within the XRP community and crypto detective Mr. Huber. Deaton and Schwartz both believe that the public's right to access these documents outweighs any potential settlement between Ripple and the SEC, as Judge Analisa Torres had previously ruled that the emails and drafts from the former director of SEC's Corporation Finance are judicial documents. They also anticipate that other media outlets and litigants, including parties like Dragonchain, would file their motions to access the documents.
Ripple's Recent Price Movements Indicate Bullish Trend, Potential Target at $0.55 Region
Recent price movements indicate a bullish trend for Ripple, with support found at both the 100-day and 200-day moving averages. The cryptocurrency has potential to target significant resistance at the $0.55 region. Technical analysis shows a breakout above the 100-day moving average and a pullback to confirm the breakout, as well as a recent surpassing of the upper boundary of a descending flag pattern. The primary barrier on the 4-hour timeframe is a significant resistance area at the $0.48 price zone, which aligns with the midline boundary of the ascending channel.
Pro Ripple Lawyer Expects FOMO to 'Kick In' for XRP at This Price
John Deaton, a prominent advocate for Ripple in its legal battle with the SEC, has commented on the undervaluation of XRP's current price, stating that it is a missed opportunity for investors. He believes that it is crazy for investors to overlook the chance to acquire XRP at its current price of $0.48 per unit. Deaton also notes that the fear of missing out (FOMO) effect may not take hold until XRP surpasses the $2 mark. Meanwhile, large-scale investors, known as whales, have acquired a substantial quantity of XRP over a three-week period, totaling 52 million XRP tokens, indicating a bullish outlook on the token.
Delay in SEC vs. Ripple Lawsuit Judgment Raises Concerns for XRP Holders' Relisting on Crypto Exchanges
XRP holders are worried about the relisting of the cryptocurrency on exchanges as the U.S. District Court has not yet delivered a Summary Judgment in the SEC Vs Ripple lawsuit. The court has not addressed the issue of "Secondary Market Sales" of XRP, which has been a topic of discussion among crypto leaders and experts. Attorney Jeremy Hogan predicts that XRP will be relisted on crypto exchanges once the judge decides whether it is inherently a security, but there is a possibility that the court may not explicitly address the issue raised by the commission.
Former SEC Lawyer Reveals Possible Reasons for Delay in Enforcement Action Against Coinbase Amid Ripple Lawsuit
Former SEC lawyer Marc Fagel has suggested that the US Securities and Exchange Commission (SEC) may be awaiting a ruling in the Ripple lawsuit before taking legal action against Coinbase. Fagel noted that it typically takes 30-60 days after a Wells submission is received for an enforcement action to be filed, and the submission was made around April 19. The SEC had issued a Wells Notice to Coinbase in March, alleging violations of federal securities laws. Ripple has been in a legal battle with the SEC for over two years, with a summary judgment decision expected imminently.
XRP Rumored to Explore AI Solutions from Avorak AI and SingularityNET
XRP, a cryptocurrency developed by the founders of Ripple, is rumored to be exploring AI solutions from Avorak AI and SingularityNET. XRP facilitates seamless and cost-effective cross-border transactions on Ripple and has garnered substantial recognition within the financial industry. Avorak AI is the first AI built for the blockchain and offers a range of solutions for users and blockchain projects, including chatbots, virtual assistants, and text-generating AI. SingularityNET is a decentralized AI platform that democratizes access to artificial intelligence and allows users to pay for AI services and products on the marketplace using its native token, AGIX. The potential collaborations and partnerships between XRP, Avorak AI, and SingularityNET highlight the ongoing innovation and transformative technologies in blockchain.
Ripple CTO and Attorney Deaton Believe Settlement Won't Stop Public Access to Hinman's Documents
Attorney John Deaton and Ripple CTO David Schwartz believe that a settlement between Ripple and the SEC will not prevent the public from accessing William Hinman's documents. Judge Analisa Torres recently ruled that the drafts of Hinman's controversial 2018 cryptocurrency speech must be made public on June 13, despite speculation that the SEC may settle with Ripple to prevent this.
Hong Kong to Allow Retail Cryptocurrency Trade, Boosting Chinese Coins Amidst US Hostility
Hong Kong's decision to permit retail trade in cryptocurrencies like Bitcoin and Ethereum could have a significant impact on the current hostile crypto market environment in the US.
Breaking Barriers: Ripple’s XRP, Stellar’s XLM, and IOTA Pave the Way with Possible SWIFT Integration, Dominating the Billion-Dollar Crypto Market
The involvement of Ripple, XLM, and IOTA with ISO 20022 could lead to integration with SWIFT, which was recently awarded as the best cross-border payment provider. ISO 20022 was introduced to provide international standards for the exchange of electronic messages between financial institutions, addressing challenges such as inefficiencies and increased costs. The ISO 20022 messages contain better data quality than previous cross-border payment formats, enabling businesses to deploy resources effectively and efficiently, and improving fraud detection. SWIFT is set to join ISO 20022 by March 2023, and all messages will be based on ISO 20022 by November 2025, with financial institutions allowed to send MT messages during the transition period.
Pro-Ripple Lawyer Highlights How SEC Legal Battle is Affecting Ripple's Business
According to pro-Ripple lawyer John Deaton, the ongoing legal battle between Ripple and the SEC has affected the company's business, and there is a need for adoption of XRP on the homefront. Despite expanding its business outside the US, traditional financial institutions have been cautious with their interactions with Ripple's services due to regulatory issues.
TikTokker mortgages house for $500K to buy XRP, now losing money
A TikTok influencer, known as Money_talk_tok, reportedly mortgaged his house for $500k to invest in XRP, the native currency of the XRPL and coin used by Ripple. He believed that the cryptocurrency market was in extreme fear and invested all his money into XRP when it was trading at $0.69. However, he is now down roughly 30%, or nearly $150k in the red. The story showcases the unpredictable nature of cryptocurrency assets and how far some crypto project believers can go to purchase tokens. Additionally, a legal battle between Ripple and SEC could impact XRP prices and influence crypto industry regulation in the United States.
XRP shows resilience with whale accumulation despite ongoing legal battle with SEC
XRP, the cryptocurrency of the Ripple network, has shown signs of recovery towards the weekend, gaining roughly 13% in the past two weeks. Crypto whales have acquired over 52 million XRP in the past three weeks, totalling approximately $22.9 million, suggesting potential resilience and strength for the cryptocurrency.
Ripple's Future Hinges on Resolution of SEC Lawsuit
Despite forming numerous partnerships, Ripple Labs Inc's cryptocurrency, XRP, has not seen a significant increase in value due to regulatory uncertainty. The ongoing lawsuit with the SEC has impacted Ripple's business and the growth of XRP, according to XRP advocate and attorney John Deaton. However, if the lawsuit is resolved, there may be more integration of XRP with Ripple's technology.
Web3 Lawyer Discovers SEC Discussion on XRP's Compliance with Howey Test in Ripple Case
New information has emerged in the ongoing legal battle between Ripple and the SEC, with web3 lawyer John Deaton discovering a footnote in documents that suggests the SEC discussed the possibility of XRP not meeting the requirements of the Howey test. Deaton believes this confirms what the crypto community has been saying for years, and could potentially change the dynamics and narrative of the case. While some speculate that this could hinder Ripple's chances of victory, others believe that the outcome is still promising and that Judge Torres may only fine the company for its early sale of XRP and other transactions.
Attorney Deaton Criticizes Michael Saylor's Assertion that Bitcoin Will be the Only Cryptocurrency Traded in the US
John Deaton, founder of CryptoLaw and a proponent of XRP, has criticized Michael Saylor, co-founder of MicroStrategy and a well-known supporter of Bitcoin, for suggesting that Bitcoin would be the only cryptocurrency traded in the US. Saylor, who is known for his maximalist views on Bitcoin, has previously dismissed altcoins as a "parade of horribles" and considers any cryptocurrency other than Bitcoin to be a security. Deaton called Saylor's comment "plain dumb" and expressed confusion over his belief that Bitcoin would be the only crypto asset traded in the US.
Attorney Deaton Commends Uphold for Not Suspending XRP Trading Amid SEC Allegations
CryptoLaw founder and pro-XRP lawyer John Deaton has praised Uphold for not suspending XRP trading despite the SEC's allegations that the coin is a security. Deaton called it one of the best decisions in crypto history, citing "conflicted and compromised" SEC officials. Uphold recently launched its institutional business and trading platform, with XRP still listed on its exchange. While other exchanges like Coinbase and Kraken delisted XRP after the SEC charged Ripple and two of its executives with offering unregistered securities, Uphold has continued to list the coin.
