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."
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.
Deaton Explains Why SEC Didn’t Include Former Ripple Founder Jed McCaleb in XRP Lawsuit
XRP community members have been questioning why Jed McCaleb, co-founder of Ripple, was not included in the ongoing SEC lawsuit against Ripple for allegedly offering unregistered securities in the form of XRP. Attorney John Deaton explained that McCaleb was exempted from the lawsuit because he is considered one of the industry players on "Crypto's Mount Rushmore" list, along with Bitcoin's pseudonymous founder Satoshi Nakamoto and Ethereum's Vitalik Buterin. Deaton added that McCaleb is also known as the "Teflon Don" of crypto. McCaleb received a share of 20 billion XRP in 2012, but left Ripple in 2014 due to a fallout with Ripple executives. He agreed to a lock-up plan for his XRP share to prevent a market crash.
XRP Sees Highest Profit-Taking Ratio Since Aug 2021 Amid 44% Rally
XRP has surged over 44% in the past eight days, with traders raking in profits amid a highly anticipated uptrend. According to data from market intelligence resource Santiment, XRP investors are engaging in profit-taking transactions twice as much as loss-incurring transactions. This bullish turn of events comes amid speculation of an imminent judgment in Ripple's favor in the ongoing SEC litigation. XRP has established a firm position above $0.50 and seeks to conquer $0.55. With a 16.92% gain in the past week, XRP is the highest-gaining asset among the top 80 cryptocurrencies.
Biggest Movers: XRP Hits Fresh 5-Month High on Tuesday, Extending Recent Win Streak
Xrp rose to a fresh five-month high on Tuesday, as prices climbed for a fourth straight session. The token moved to its highest point since November, which comes despite a red wave sweeping over cryptocurrency markets. The global market cap is down 2.35% as of writing.
XRP Surges to Five-Month High as Some Point to Bitcoin Commodities Mention
XRP tokens rose 8% to just under 50 cents in Asian morning hours on Tuesday, reaching a five-month high. Some members of the community suggested that the classification of major tokens as a commodity in a US Commodity Futures Trading Commission (CFTC) filing against Binance could mean XRP tokens were commodities instead of a security, as alleged by the US Securities and Exchange Commission in the ongoing Ripple v. SEC case. Ripple has previously made the case for xrp tokens as a commodity. The CFTC filed against Binance, alleging that it offered unregistered crypto derivatives products and directed US customers to evade compliance controls through the use of VPNs.
Binance Adds New Trading Pair For XRP Despite Facing CFTC Lawsuit
World’s largest cryptocurrency exchange Binance has added a new stablecoin trading pair for XRP. According to an announcement today, Binance added the XRP/TUSD pair to its platform. The move will allow users to trade the sixth-largest cryptocurrency against the fifth-biggest stablecoin.
