Attorney Claims Ripple vs SEC Case Verdict May Take 2 More Months
Attorney Deaton took to Twitter to clarify that March 31 wasn’t a deadline for the judge’s ruling in Ripple vs SEC case. In his words, there is no certainty of when the judge will decide; it might occur in the next 30 or 60 days.
Ripple CEO Slams SEC Chair Gensler for Dictating Which Crypto Tokens Are Securities
Ripple CEO Brad Garlinghouse has slammed Securities and Exchange Commission (SEC) Chairman Gary Gensler for claiming that he has the authority to determine which crypto tokens are securities, rather than relying on the legislation that governs his agency’s power. “It’s time for elected officials in the U.S. to take notice,” the Ripple executive stressed.
XRP Perpetual Futures Open Interest Skyrockets to $610 Million
XRP Perpetual Futures Open Interest (PFOI) has shot up significantly since March 24 to around $610 million at its peak.
Ripple Boss Urges Congress To Address SEC Chairman’s Latest Wild Assertions On Crypto
Ripple CEO Brad Garlinghouse has called on US lawmakers to address comments made by SEC chair Gary Gensler, who argued that rules for the crypto market already exist and that no new rules need to be written. Securities law has been a major point of contention for the crypto industry since Gensler said most digital assets fall under the securities definition. Garlinghouse argued that such decisions should be based on legislation, rather than Gensler's personal stance, and accused him of behaving like an autocrat. The SEC has continued to pursue a "regulation by enforcement" approach, cracking down on what it believes are unregistered securities.
360 Million XRP On The Move Amid Ripple CEO’s Fresh Attack
XRP has maintained its uptrend while other major cryptocurrencies saw red indexes on Friday, with the token's price up over 42% in the last 30 days. Data from WhaleAlert shows that crypto whales have been moving millions of XRP as the US SEC vs Ripple lawsuit verdict approaches. Over the past 24 hours, more than 360 million XRP tokens, worth approximately $192 million, have been moved by whales in multiple transactions. Crypto whales have also accumulated XRP, adding over 146 million tokens, worth approximately $78 million, in the last 24 hours. The biggest accumulation transaction was recorded as adding 60.3 million XRP tokens, worth approximately $32.3 million, from crypto exchange Binance.
Ripple Partner MFS Africa to Facilitate Outward Remittance to 130 Financial Institutions
Ripple partner MFS Africa has collaborated with Access Bank to expand the bank's AccessAfrica remittance corridor. The partnership will provide real-time, cost-effective cross-border payments for businesses and individuals seeking to transfer funds abroad. Additionally, AccessAfrica customers can receive payments from various parts of the world via MFS Africa partners. The partnership will expand the reach of Access' instant outbound remittance to 130 African-based financial institutions and more than 400 million mobile wallets. MFS Africa has partnered with Ripple to leverage the blockchain company's On-Demand Liquidity (ODL) solution to facilitate cross-border payments in more than 35 African nations, and is expected to use this solution to enhance the partnership with Access Bank.
Ripple Case Optimism Fuels XRP Trading Boom in South Korea
The past week saw XRP’s value increase by 26%, causing trading volumes on top Korean exchanges like UpBit, Bithumb, and Korbit to reach billions of dollars. In the past 24-hour period, CoinDesk states that XRP accounted for 37% of Bithumb’s trading volume, 18% on UpBit, and a remarkable 50% on Korbit, with trading pairs against the U.S. dollar and Korean won.
3 Crypto Firms Land on the World’s Top 10 Leading Fintech Unicorns List
According to data acquired by Finbold, three cryptocurrency firms with a cumulative valuation of $42.3 billion made it to the list of top 10 leading fintech unicorns globally as of Q4 2022. The top ten fintech unicorns account for a total valuation of $273.7 billion. Ripple, based in the United States, has a valuation of $15 billion and ranks fifth overall. Blockchain.com ranks sixth overall with a valuation of $14 billion. Non-fungible tokens (NFTs) marketplace OpenSea with a valuation of $13.3 billion is the eighth most valuable fintech unicorn globally. The most valuable unicorn is payment giant Stripe at $95 billion, followed by Checkout.com at $40 billion. The United Kingdom-based challenger bank Revolut is third at $33 billion, followed by Chime at $25 billion.
XRP Ledger Sidechains Now Available for Testing on New Devnet
RippleX has launched a developer network (Devnet) for testing its new XRP Ledger (XRPL) sidechains, which allows developers to customize the XRPL for their desired use cases. The sidechains feature is designed to test new features that could be implemented on the main network and could see increased XRP adoption as businesses can customize the XRPL for private needs. David Schwartz, Ripple’s Chief Technology Officer, first proposed the idea of federated sidechains for the XRPL in 2021, and the feature was subsequently redesigned in 2022 to factor in feedback from a months-long preview period. Developers replaced the "federator" with "witness," which promises to simplify the process of testing and debugging.
XRP Trading Volumes Surges to Billions of Dollars on South Korean Crypto Exchanges
The XRP token has experienced a surge in trading volumes on three of South Korea's top exchanges, UpBit, Bithumb, and Korbit, with trading making up 37%, 18%, and 50% of all volumes respectively. The surge has been attributed to speculation that the token may be classified as a commodity by the US Commodity Futures Trading Commission, potentially helping Ripple in its ongoing case with the US Securities and Exchange Commission. The surge in XRP trading volumes is an anomaly, as bitcoin and ether typically account for the majority of trading activity on these exchanges. Some of the volume may be attributable to manipulative wash trading.
Ripple and Algorand to Sponsor CM University Blockchain Summit
Ripple and the Algorand Foundation are seed sponsors for the Carnegie Mellon University Secure Blockchain Summit in May 2023 aimed at offering insights into the prospects and evolution of blockchain technology. The summit's topics will cover crypto-economics, applied cryptography, and programming language, with seasoned blockchain experts and CMU professors presenting. Carnegie Mellon University has integrated several blockchain courses into its curriculum and is organizing the Secure Blockchain Summit to promote understanding and knowledge of blockchain technology. Ripple, despite its long-standing legal battle with the U.S. SEC, has positioned itself as a primary financial supporter for institutions interested in exploring blockchain.
XRP Breaks Major Trendline, Rises 49% Amid Regulatory Uncertainty
XRP’s upward trend, which started on March 21st, continues to gain momentum, as the cryptocurrency has surged by over 49% since the end of the “crypto winter.” Breaking through a major resistance level below $0.5, XRP is showing strong gains and bullish momentum in the market.
Open Interest in XRP Surges to $800M as Crypto Traders Hope Ripple-SEC Verdict Will Bring 'Alt Season'
The open interest in XRP, the cryptocurrency associated with Ripple, has surged to $800 million as crypto traders hope that a favorable verdict in Ripple's ongoing legal battle with the US Securities and Exchange Commission (SEC) could trigger an "alt season."
Privacy and Central Bank Digital Currency
With global interest and the growing exploration of Central Bank Digital Currencies by central banks, privacy has become a crucial aspect to consider.
Bitcoin Regains $28K; XRP Surges for a Second Day
Bitcoin has recovered above the $28,000 level, showing resilience despite regulatory action against crypto exchange Binance. XRP tokens have jumped for a second straight day, gaining 11% in the past 24 hours, buoyed by speculation that they may be classified as commodities rather than securities, which could help Ripple win its case against the SEC. Other tokens have also rallied, including Ether, which rose 4% after Ethereum developers confirmed the Shapella upgrade for April 14, and Cardano's ADA, which jumped 8%. However, on-chain analysis suggests that XRP prices may dip in the coming days, as transactions "in profit" have reached a 19-month high, suggesting traders may lock in recent gains.
