Ripple Price Analysis & Prediction (May 18th) – XRP Nears an Exhaustion Point, Trades Calmly Above Key Support Level
After a significant rise in March, Ripple's price has dropped to a six-week low of $0.41 and has since consolidated above that level with no signs of a bullish reversal. Despite this week's market downturn, XRP has remained relatively stable, finding support at $0.41 and retesting $0.44 before falling sharply.
Ripple's CTO David Schwartz Explains Why the Company Chose Metaco Over PolySign as a Partner
David Schwartz, the CTO of Ripple, has addressed questions from the XRP community about why Ripple chose to partner with Metaco instead of PolySign, despite their close ties. Schwartz explained that PolySign's roadmap leads in a different direction from Ripple's, making a partnership less suitable. Although Ripple and PolySign share executives, they do not have an official partnership. Some speculate that the decision to partner with Metaco could be related to Ripple's recent campaign toward European expansion, as PolySign is based in the US while Metaco is in Switzerland. There have been talks of a potential synergistic relationship between Ripple and PolySign, but nothing official has been announced.
Expect Infamous Hinman Speech Documents to be Released by June 6, Says Defense Lawyer and Former Federal Prosecutor
James K. Filan, a defense lawyer and former federal prosecutor, predicts that the Hinman Speech documents will be made public by June 6, based on a previous court order. These documents relate to a 2018 speech by former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman, in which he stated that Ether (ETH) was not a security. Filan provided an update on the timeline for the release of the documents in a Twitter thread on May 17. However, some believe that the timeline could be affected if the SEC files an appeal or if the case is settled. Ripple Labs, which already has access to the documents, sees them as an important piece of evidence in its defense against the SEC's assertion that XRP is a security.
XRP Lawsuit Update: Parties Have 21 Days to File Redacted Summary Judgment Documents, Says Attorney Filan
According to attorney James K. Filan, parties involved in the SEC vs. Ripple lawsuit have until June 6, 2023, to publicly file redacted versions of summary judgment documents. This follows a court order mandating the filing of these documents in the public docket 21 days after the court decides their sealing requests. Filan's update prompted reactions from the XRP community, with some expressing gratitude for the clarification. The decision by Judge Analisa Torres to deny the SEC's request to seal internal deliberations related to William Hinman's controversial speech has also been noted.
XRP (Ripple) sees significant gains in cryptocurrency markets following small victory in SEC lawsuit
XRP (Ripple) is the only major cryptocurrency that has seen significant gains in the crypto markets, while Dogecoin and Litecoin have only experienced minor increases. The rise in XRP's value is attributed to positive news from the SEC's lawsuit against Ripple, which resulted in a small victory for the company. However, the outcome of the lawsuit, which has been ongoing for almost two and a half years, may still have a significant impact on XRP's price in the medium term. Despite the victory, XRP's current price is still less than half of its all-time high in early 2018, and the uncertainty surrounding the lawsuit may be contributing to its relatively low volatility compared to ETH.
Ripple's XRP Price Surges 8% After Court Ruling in Favor of Ripple in SEC Lawsuit
Ripple's XRP saw an 8% increase in price after a court ruling that denied a motion filed by the Securities and Exchange Commission (SEC) in the ongoing Ripple vs SEC case. The ruling was seen as favorable for Ripple by investors.
Bitcoin Drops Below $27K While Altcoins Remain Slightly Red, XRP Sees Notable Price Jump
Bitcoin has fallen below $27,000 after failing to continue upwards and hitting resistance at $27,500. Other altcoins such as ETH and BNB are also slightly down, while XRP has seen a notable price jump. Bitcoin had briefly spiked to over $27,600 before retracing and experiencing another minor drop below $27,000.
Attorney Deaton Highlights Excerpt of Judge Torres' Ruling That Could Affect Ripple's Lawsuit Against SEC
Attorney John E. Deaton has drawn attention to a section of Judge Analisa Torres' latest ruling that could harm Ripple's chances of winning its lawsuit against the SEC. XRP supporters are celebrating Judge Torres' decision to deny the SEC's motion to seal the draft of William Hinman's 2018 speech, and XRP Productions has created a Twitter space to discuss the ruling. However, Deaton has expressed concern that a portion of the ruling could negatively impact Ripple's case, specifically related to financial data and the Howey analysis. The court is making progress towards issuing a summary judgment for the lawsuit, with Ripple expecting it to come before the end of the year.
Ripple's Alleged Payment to Coinbase for XRP Listing Reignites Speculation
Allegations that Ripple paid Coinbase to have XRP listed on its platform first surfaced in April 2018 and were reignited following a recent ruling in the Ripple vs. SEC case. ScamDetective, an anonymous on-chain scam detector, asked for information on how much Ripple paid Coinbase, but Ripple's CTO, David Schwartz, has refused to provide further details. Some believe Schwartz's response implies there is undisclosed information regarding XRP's listing on Coinbase. Bloomberg first reported the allegations in 2018, claiming Ripple offered $100 million to Coinbase for the exchange to list XRP, but Miguel Vias, Ripple's former Head of XRP Markets, debunked the claims in 2019. However, the allegations resurfaced following Judge Torres' recent rulings in the SEC case.
Ripple Secures Another Win as Judge Denies SEC's Motion to Seal Hinman Speech Documents
Ripple Labs has secured another win in its legal battle against the US Securities and Exchange Commission (SEC). The court denied the SEC's motion to seal the Hinman speech documents, which the agency claimed reflected non-public deliberations by its officials. However, the court overruled the SEC's objections and found that the documents did not fall under the deliberative process or attorney-client privileges as claimed by the SEC. This is a developing story and more updates are expected. Additionally, a list of crypto presale projects and Telegram channels for 2023 has been updated.
