Injective Community Votes in Favor of XRP Integration, Propelling Expansion
The Injective community has voted in favor of IIP-238, a proposal that will integrate XRP into the Injective ecosystem. This collaboration between Injective and Ripple is a significant milestone in the DeFi sector and is set to unlock new opportunities for crypto enthusiasts.
Ripple's XRP Security Ruling Unlikely to Affect Bankrupt Crypto Lender Celsius' Wind-Up Plans, Says Counsel
The recent ruling that XRP is a security is unlikely to affect the wind-up of bankrupt crypto lender Celsius, according to the lender's counsel. The new company set to take over Celsius is not engaged in securities offerings or any of Celsius' historic business practices. The Fahrenheit consortium, which won a recent bid for Celsius' assets, will focus on less legally contentious issues like bitcoin mining and Ethereum staking.
HeightZero's VP of Business Development Reveals XRP as First Crypto Investment and Never Sold Since 2019
Sean Waters, the Vice President of Business Development at HeightZero, has revealed that his first foray into cryptocurrencies was with the purchase of XRP in 2019, and he has held onto it without selling since then. Waters' interest in XRP led him to Uphold, a US-based trading platform known for its favorable stance on the digital asset.
Cryptocurrency Markets Continue to Retreat, Bitcoin Slips 2% Alongside Altcoin Declines
Bitcoin and other cryptocurrencies experienced a decline in value following last week's gains, with Bitcoin falling by 2% in the past 24 hours to a low of $29,679. Ether, the second largest cryptocurrency, also saw a 2% decline to $1,880. Smaller cryptocurrencies, including Ripple's XRP, SOL, and XLM, experienced even steeper declines, with XRP falling by 5.4% and SOL and XLM shedding over 5%. LDO, the governance token of Lido Finance, was among the worst performers, plummeting by almost 12%.
XRP Surpasses Bitcoin in Trading Volume After Partial Win in SEC Lawsuit
XRP has gained some legal clarity in the long running lawsuit with the SEC, making it the only crypto to do so. XRP has surpassed Bitcoin in trading volume since the summary judgment was presented in the Ripple case, accounting for 21% of all crypto trading volume.
Ripple Legal Officer Expects US Banks to Adopt Cross-Border Payment Solution After XRP Ruling
Following the recent court ruling that XRP is not a security, Ripple's Chief Legal Officer, Stuart Alderoty, expects US banks to adopt Ripple's cross-border payment solution. Alderoty expressed confidence that American banks would return to Ripple's On-Demand Liquidity (ODL) product and plans to initiate discussions with US-based financial institutions in the next quarter of the year.
Bitcoin Drops Back to $30K, Erasing XRP-Led Gains: More Losses in July?
Bitcoin's price has dropped back to $30,000 after trimming gains led by XRP's legal win. The BTC/USD pair is following a rising channel with support near $30,200 on the 4-hour chart, and could start another increase unless there is a close below $30,000. The first major support is near the $30,200 level, with the next key support sitting near the $30,000 zone. There is a risk of a major decline if there is a close below the $29,200 support, but if the bulls remain active, there could be a fresh increase toward the $32,000 resistance.
Former Ripple Director Shares Insights on Ripple's Impact on XRP Price
Matt Hamilton, former Director of Developer Relations at Ripple, shared insights on the relationship between Ripple's holdings and the price fluctuations of XRP during a Twitter debate. While Ripple is the largest holder of XRP with 48 billion tokens, the majority of these holdings are kept in escrow contracts and only a small fraction is sold.
XRP Sees Surge in Whale Activity During Ripple vs. SEC Case, With Significant Transaction Spikes Over $100K and $1M
The Ripple vs. SEC case caused a surge in trading volume and price for XRP, with a whale depositing over 5 million XRP on an exchange. Whale transactions on the Binance chain saw a record-high spike on July 13 and 14, with varying reactions from different XRP whales.
Former SEC Director Believes Ripple's Victory in XRP Case May Be Short-Lived
Ripple has won a significant victory in a recent court verdict, as the court ruled that its sales of XRP to retail investors did not constitute an offering of investment contracts. However, institutional sales of XRP were determined to be an unregistered offer and sale of investment contracts.
