Bitcoin and Ether Inch Up, XRP Leads Gains, Matic Sees Biggest Decline in Mixed Crypto Market
Bitcoin and Ether experienced slight gains during Tuesday afternoon trading in Hong Kong, while other top non-stablecoin cryptocurrencies had mixed results. XRP saw the biggest increase, while Polygon's Matic experienced the largest decline. XRP's rise was attributed to pro-Ripple attorney John Deaton's tweet about the SEC's case against Ripple Labs. Bitcoin's NFT sales fell, while Ethereum's rose, with Nakamigos and Bored Ape Yacht Club leading the way.
XRP Network Activity Hits Record-Breaking Levels; Mega Rally Ahead?
While most cryptocurrencies have been recovering after Memorial Day weekend, XRP has continued to gain in price and has seen a surge in address activity on its network. According to blockchain analytics firm Santiment, the XRP network has experienced its second and third-largest address activity spikes in history, which could indicate a major bullish rally for the XRP token. There has also been a mild decoupling between XRP and other altcoins, with a 4% difference emerging. XRP is currently trading at $0.5025, with a 4.62% increase in the last 24 hours and an 8.70% increase over the previous seven days.
XRP Surges 7.5% Amid Expectations of Favorable Ruling in SEC v. Ripple Legal Battle
XRP has seen a 7.5% increase in price over the past week, with a current market valuation of $25.97 billion. This is likely due to the community's anticipation of a favorable ruling in the ongoing legal battle between Ripple and the U.S. SEC. While there is no official verdict date, Ripple's CEO is confident that a decision will come within weeks. Pro-XRP lawyers speculate that the summary judgment decision will favor Ripple and XRP holders, potentially leading to the coin being listed on U.S.-based exchanges and causing its price to surge.
XRP Needs to Close Above $0.55 for Bullish Continuation, Says Analyst
XRP is aiming to reach the $0.60 price level for the first time this year, but it must close above $0.55 to have a chance. The asset is defending the $0.41 support level and recently broke above the $0.50 territory. Analyst Egrag believes XRP needs to close above $0.55 for bullish continuation and is following the "Yellow Track" to hit higher highs. Another analyst, Morecryptoonline, notes that XRP is slipping towards the resistance territory between $0.4973 and $0.5472, which represents the ideal Fibonacci resistance points for Wave 2.
Crypto Influencer Predicts XRP Could Reach $5 in the Future, Citing its History of Surpassing Ethereum in Market Cap
According to crypto podcaster and founder of Gold Squad, Mason Versluis, XRP has the potential to reach $5 in the future, as it is the only asset to have surpassed Ethereum in market cap.
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.
