$XRP Price Could Surge by 47% If It Secures Key Level, Says Popular Crypto Analyst
The cryptocurrency market has experienced significant growth over the last few days, with the price of the flagship cryptocurrency surpassing $30,000 for the first time in 10 months amid the rally. The price of $XRP, it seems, could be due for more upside in the near future.
467 Million XRP Moved As SEC Files Fresh Motion
XRP's price has been boosted by recent minor legal wins against the US Securities and Exchange Commission (SEC), with the cryptocurrency up around 50% on a year-to-date basis. More than 467 million XRP (approx. worth $235 million) have been moved in multiple transactions over the past 24 hours, according to data from WhaleAlert. The biggest transaction recorded was the movement of 177 million XRP (approx. worth $91.7 million) to an unknown wallet, while whales bought around 83 million XRP tokens (approx. worth $43 million) in multiple transactions.
Coinbase Begins FLR Token Airdrop in Approved Jurisdictions
Coinbase has announced the distribution of Flare token airdrop to eligible users with simple and advanced trades in every approved jurisdiction. The FLR outbound transfers will be unavailable to users until the processing is completed, and the earned funds will be distributed to the Coinbase user account. The token was initially introduced to customers who held XRP in their accounts before December 12, 2020. To be eligible for the airdrop, users must have owned an XRP balance on Coinbase Exchange, Coinbase Pro, or Coinbase.com as of December 12, 2020, and users from Japan or New York are ineligible. The airdrop amount will be based on the XRP balance users had on Coinbase, with a distribution rate of 1.0073 FLR per 1 XRP x 0.15. Coinbase is not charging any fees for the airdrop, and users can trade their FLR after the distribution is completed. Even deactivated accounts can access the airdrop by creating a new account or contacting the Coinbase support team.
XRP Price Prediction: Ripple At Risk of Downside Thrust Before Fresh Increase
Ripple's XRP is facing resistance at the $0.5200 level after failing to clear the $0.5850 resistance against the US Dollar. XRP is now trading near $0.5065 and the 100 simple moving average (4 hours), with a major bullish trend line forming with support near $0.5065 on the 4-hours chart of the XRP/USD pair. If XRP fails to clear the $0.520 resistance zone, it could continue to move down with initial support near the $0.500 zone and the next major support near $0.485. In the worst-case scenario, the price could test the $0.465 support zone. (newsbtc)
Ripple (XRP) Trading Volume on Korean Exchanges Shoots Up: Report
XRP is one of the handful of crypto-assets that has outperformed Bitcoin in the latest market-wide rally. Traders are placing their bets on a potential victory for the blockchain firm Ripple’s multi-year legal battle against the US Securities and Exchange Commission (SEC), with a ruling expected in April.
Coinbase Finally Lists Flare (FLR), is XRP Next?
Coinbase has finally listed the Flare (FLR) token following months of persistent calls from the XRP army. The latest development has elicited further agitation for the exchange to relist XRP, given Flare’s close relationship with the XRP ecosystem.
Nonagenarian Billionaire Warren Buffett Increases Investment in Ripple Partner Company
Warren Buffet, the legendary investor and cryptocurrency critic, plans to increase his stake in Japanese companies including Sumitomo Corporation, a top partner of Ripple.
XRP’s Four-Week Rally Was Led by Retail Investors: Kaiko
XRP has rallied almost 40% in the past four weeks, outperforming other top digital assets, including bitcoin, driven mainly by retail investors, according to analysis by Kaiko, a Paris-based provider of crypto data. Trading volumes in XRP-Korean won (KRW) trading pairs on South Korean exchanges Upbit, Bithumb and Korbit soared last month, accounting for a giant share of the global activity. XRP has been rallying on hopes that Ripple Labs, which the US argues issued the token, will win its legal battle against the Securities and Exchange Commission (SEC). The cryptocurrency changed hands near $0.52 at press time, having hit a high of $0.58 on March 29.
Crypto Whales Scoops 150 Million XRP As XRPL Drops New Proposal
XRP is experiencing an upward trend, driven by an anticipated win in the SEC lawsuit, as well as a new proposal on the XRP Ledger (XRPL) called Hooks. Ripple announced that Hooks will add smart contract-like functionality to the XRPL, allowing for custom code to influence the behavior and flow of transactions. Crypto whales are accumulating more XRP tokens in response to this proposal, with over 146 million XRP, worth approximately $77 million, added by whale addresses in multiple transactions over the last 24 hours, according to data from WhaleAlert.
Ripple, Montenegro Sign Deal on Project for Unspecified National Digital Currency
The Central Bank of Montenegro has signed an agreement with Ripple to develop a strategy and pilot program for a Montenegrin digital currency in the form of a central bank digital currency or a stablecoin. The project will go through several stages, including identifying the practical application of a digital currency or national stablecoin. A sandbox stage is planned to put the future digital currency into circulation under controlled conditions. The project will begin this month. Ripple has multiple CBDC projects ongoing around the world and is in dialogue with dozens of central banks globally.
Top Philippine Exchange Coins.ph Halts XRP Withdrawals
Coins.ph, a leading Philippines-based cryptocurrency exchange, has temporarily halted XRP withdrawals due to technical issues. The exchange assured its customers that their XRP holdings are safe and they can still buy, sell, and trade the cryptocurrency on its platform.
Lawyer Lays Out His Reasoning on Why XRP Is Not a Security
Ripple's XRP token has been declared not to be a security by Jeremy Hogan, a partner at Hogan & Hogan law firm. Hogan argues that XRP could only be considered a security if it fits the definition of an "investment contract," but the United States Securities and Exchange Commission (SEC) has not demonstrated this in its lawsuit against Ripple. The SEC claims that Ripple illegally sold XRP as an unregistered security, but Ripple argues that it does not constitute an investment contract under the Howey test, established by the U.S. Supreme Court in 1946. Hogan also states that the key issue is whether the SEC can prove an implied or explicit "contract" between Ripple and XRP purchasers relating to their investment, which Hogan claims does not exist.
Legal Community Excepts XRP Verdict by May 6, Lawyer Admits SEC Has One Valid Claim
Chatter among the legal community has increased in recent days as a verdict is now expected by some on or before May 6, with others admitting the SEC has one valid claim.
Top Lawyer Says This Could Make Judge “Split the Baby” in Ripple v. SEC Lawsuit
Attorney Jeremy Hogan, a pro-XRP attorney and partner at Hogan & Hogan, thinks both Ripple and the SEC may get a partial victory.
XRP Price Eyes 30% Upside After Key Resistance Area Breaks
XRP has seen a 60% increase in the first quarter of 2023, driven by Ripple's legal win against the SEC, and the overall bullish sentiment in the cryptocurrency market. The XRP/USD pair is expected to continue its gains in the second quarter, primarily due to a bullish continuation pattern known as a bull pennant. The pattern forms when the price consolidates inside a symmetrical triangle after undergoing a strong rally. A bullish target of $0.65 in Q2 for XRP price is predicted, up approximately 30% from current levels. However, a decisive close below the pennant's lower trendline could invalidate the bullish setup and increase the probability of testing the 50-day exponential moving average (50-day EMA).
