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.
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.
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.
