Tag: XRP

Ripple Increases Bid for Circle to $20B After $5B Offer Rejection

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Ripple Labs is reportedly increasing its bid for the stablecoin issuer, Circle, in a bid to increase its stablecoin market dominance.

 

Ripple Labs, the technology company offering blockchain-based payment solutions and the creator of the XRP ledger, has caught the market’s attention due to its strategic moves. The company is seeking dominance in the stablecoin market, potentially rivaling the current King of stablecoin, Tether. RippLe has recently issued its stablecoin RLUSD, backed 1:1 by USD reserves.

However, to gain significant market dominance, the company moved ahead to bid $5 billion to buy Tether’s rival, Circle. Following an offer rejection, Ripple is reportedly offering $20 billion to secure the USDC stablecoin issuer. According to Roundtable Network on X (formerly Twitter):

 

Ripple is going big – reportedly increasing its bid to #acquire #Circle from $5B to $20B after being turned down the first time.

Ripple could be poised for growth

Looking at the market sentiment, Ripple’s XRP has surged 4.76% over the past month, signalling rising investor confidence. Additionally, Whales have been accumulating XRP in the same period.

 

Source: X

 

Per the on-chain data, Whales have bought 900 million XRP coins in the past 30 days. Considering a positive outcome on the SEC Case against the company, Ripple’s on-chain data and fundamentals hint at long-term growth.

 

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XRP Gains Bullish Momentum Eyeing $5 amid Price Breakout

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XRP has broken out of a major pattern with a high trading volume. Is a bullish rally on the horizon?

 

XRP has caught the market’s attention following a 69.42%  increase in its 24-hour trading volume amid a major breakout. According to CoinMarketCap‘s data, the coin is trading at $2.29 and has surged nearly 3% with a rising open interest (+6.6%), at press time.

This comes after weeks of price consolidation inside a falling wedge pattern, making lower highs and lower lows.

 

Source: X

 

Looking at the chart on a higher timeframe (3-day), the XRP price is consolidating above its descending trendline in this pattern formation. With a positive Open Interest (OI) Weighted funding rate, XRP  bulls are gathering strength.

Technical analysis by crypto analyst Captain Faibik has revealed $5 as XRP’s next target following this breakout. With the long-short ratio standing at 2.09, the bulls dominate the market, and XRP’s rally could be due in the next few days.

 

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XRP:66.86% of Traders in Binance are Going Long!

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XRP bulls show strength as the Binance Exchange Long-to-Short ratio reaches 2.02. Does this mean more upside for the altcoin?

 

Over the past 24 hours, most XRP traders on the largest Exchange by trading volume, Binance, have signaled high conviction in XRP’s bullishness. At press time, XRP was trading at $2.17, a 1.66% price surge in the last 24 hours and 16.27% in the past week, despite a low trading volume in the past day.

Looking at the on-chain metrics, 66.86% of traders on Binance bet on XRP’s price uptrend, over 33.14% shorting the asset.

Source: X

Why are traders betting on XRP’s Price upsurge?

XRP’s price rally could be fueled by the following reasons:

  • XRP ETFs are on the verge of approval.
  • Japanese banks are considering XRP for payments.
  • SWIFT integration with XRP is underway.
  • Ripple’s SEC case nears resolution.
  • Possible usage of XRP ledger on real-world asset (RWA) tokenization.

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XRP Reclaims $2 Resistance -Is $2.5 the next target?

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XRP has hit $2 following a 14% surge as the crypto market rebounds from the trenches.

 

Following a week of turmoil in the global economies and over $1 billion in crypto liquidations, the market could be poised for stabilization. Many altcoins are seeing a rebound from the market dip, with XRP rallying 14% in the last 24 hours. Per CoinMarketCap, XRP was trading at $1.99 at press time.

XRP could be eyeing $2.5 in the mid-term

Looking at XRP’s technical setup, the coin’s MACD is on the verge of a bullish crossover. This could be a potential confirmation signal of XRP’s uptrend rally as it secures a daily close above $2. According to CryptoAndy, on CoinMarketCap, capital inflow into the market could see XRP target $2.5 next after breaking above this level.

 

Source: CoinMarketCap

As the market recovers from the trade war, traders entering new positions could strengthen XRP’s bullish momentum. With open interest rising, one should keep an eye on the altcoin’s next moves at this level.

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Ripple’s Victory Over SEC: A Defining Moment for Crypto Regulation

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The long-standing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has officially come to an end, marking a significant moment for the cryptocurrency industry.

Ripple’s CEO, Brad Garlinghouse, confirmed the conclusion of the case in a statement shared on X (formerly Twitter) on March 19, describing it as a victory not just for Ripple but for the entire crypto sector.

A Four-Year Legal Struggle

The dispute began in December 2020 when the SEC filed a lawsuit against Ripple, alleging that the company had conducted an unregistered securities offering worth $1.3 billion.

Over the past four years, this legal confrontation has been closely monitored, as its outcome had the potential to set a precedent for how cryptocurrencies are regulated in the United States.

Garlinghouse, in a video accompanying his statement, expressed his relief and satisfaction with the resolution, stating,

“I’m finally able to announce that the case has ended; it’s over.”

He emphasized that this moment is not only significant for Ripple but also for the broader digital asset market, as it opens doors for the United States to take a leading role in the global crypto space.

Market Reaction and Industry Implications

The conclusion of this case had an immediate impact on the cryptocurrency market. According to data from Cointelegraph Markets Pro and TradingView, XRP, Ripple’s native cryptocurrency, experienced a 10% price surge following the announcement of the SEC’s withdrawal.

The end of this legal battle is expected to influence the regulatory landscape for cryptocurrencies in the United States. Experts believe that this outcome could shape future SEC enforcement actions and provide more clarity regarding the classification of digital assets.

Looking Ahead

As further details emerge, the implications of this legal resolution will continue to be analyzed. Industry leaders and market participants will be closely watching for any regulatory changes or shifts in investor sentiment following this landmark decision.

For now, Ripple’s legal victory stands as a pivotal moment in the history of cryptocurrency, setting a precedent for future cases and reinforcing the industry’s push for clearer regulations.

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What is Ripple Custody? Ripple’s Crypto Storage Move!!

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Ripple Labs has officially filed a trademark application for ‘Ripple Custody,’ signaling its entry into the cryptocurrency custody market. This move suggests that Ripple is developing a secure storage solution for digital assets, catering to both institutional and retail clients.

What is Ripple Custody?

Ripple Custody is expected to be a digital asset custody service designed for the secure storage and management of cryptocurrencies.

According to the trademark filing, Ripple plans to introduce downloadable software that facilitates custody solutions, potentially including a new crypto wallet for enhanced security and accessibility.

Strategic Expansion into Crypto Custody

With institutional demand for secure crypto storage growing, Ripple Custody could play a key role in Ripple’s broader strategy to expand its financial services.

This initiative follows Ripple’s ongoing acquisitions in the financial sector and its commitment to blockchain education, positioning it as a comprehensive digital asset solutions provider.

The Future of Ripple Custody

The launch of Ripple Custody could mark a significant shift in Ripple’s service offerings, allowing it to compete with existing crypto custody providers. As more details emerge, investors and institutions will closely watch how Ripple Custody integrates with existing RippleNet and XRP Ledger technologies.

Stay tuned for updates on Ripple Custody and its impact on the cryptocurrency ecosystem.

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SEC vs. Ripple: XRP Lawsuit Nears Settlement

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The long-running XRP lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is reportedly nearing its conclusion.

Sources indicate that negotiations are in the final stages, with Ripple’s legal team pushing for more favorable terms concerning a $125 million fine imposed in a prior ruling.

Inside the SEC vs. Ripple Case Negotiations

According to Fox Business reporter Eleanor Terrett, two well-placed sources confirm that the SEC vs. Ripple case is in the process of wrapping up.

“🚨 SCOOP: Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.” — Eleanor Terrett (@EleanorTerrett)

Terrett also notes that Ripple’s legal team is contesting the August district court ruling, which not only imposed the fine but also included a permanent injunction preventing Ripple from selling XRP to institutional investors. The argument being made is that if the new SEC leadership is considering regulatory clarity as a solution for previously targeted crypto firms, Ripple should not be penalized under outdated enforcement actions.

Implications for XRP and the Crypto Industry

If the XRP lawsuit reaches a favorable resolution, it could mark a significant moment for Ripple and the broader crypto industry. Many believe that the case has set a precedent for crypto regulations, and a settlement could influence how the SEC approaches similar lawsuits in the future.

The SEC vs. Ripple case has been a cornerstone of the regulatory battle against crypto for years, and its resolution could have long-lasting effects on XRP’s market standing and broader crypto regulatory policies.

What’s Next?

While the details of a final agreement remain undisclosed, the settlement of the XRP lawsuit could bring long-awaited clarity to Ripple’s legal standing. The crypto community now awaits an official announcement that will determine the future of XRP and how the SEC handles crypto firms moving forward.

Stay tuned for further updates as the SEC vs. Ripple case inches toward its final chapter.

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XRP Lawsuit: Latest Updates on SEC vs. Ripple Case

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The long-standing XRP lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs continues to make headlines. The case, which began in December 2020, revolves around whether XRP should be classified as a security. This article provides the latest updates and insights into the lawsuit’s impact on the cryptocurrency market.

Key Developments in the XRP Lawsuit

SEC’s Claims Against Ripple

The SEC alleges that Ripple Labs conducted an unregistered securities offering by selling XRP tokens, raising over $1.3 billion in the process. The commission argues that XRP qualifies as a security, subject to federal regulations.

Court Rulings Favor Ripple

Recent court decisions have favored Ripple in several key areas:

  • Judge Analisa Torres ruled that XRP is not a security when traded on secondary markets, marking a major victory for Ripple and the broader crypto industry.
  • The SEC’s request for an interlocutory appeal was denied, delaying any potential reversal of the decision.

SEC’s Focus on Ripple Executives

While Ripple has seen partial success, the SEC remains focused on Ripple executives Brad Garlinghouse and Chris Larsen, alleging they knowingly violated securities laws. The next phase of the lawsuit will address these claims.

Market Reaction to XRP Lawsuit Developments

The XRP lawsuit has significantly impacted XRP’s price and market sentiment:

  • XRP surged over 75% following the court ruling in favor of Ripple in mid-2023.
  • However, price volatility continues as legal proceedings remain ongoing.
  • The lawsuit has broader implications for crypto regulations in the U.S., influencing SEC actions against other digital assets.

Potential Outcomes and What’s Next

As the XRP lawsuit nears a final resolution, possible outcomes include:

  • A settlement between Ripple and the SEC, which could clarify XRP’s regulatory status.
  • Further appeals from the SEC, prolonging the legal battle.
  • A full trial on remaining charges, impacting Ripple’s operations and the broader crypto industry.

Conclusion

The XRP lawsuit remains a pivotal case in crypto regulation, shaping how digital assets are classified in the U.S. While Ripple has secured partial victories, the legal battle with the SEC is not over. Traders, investors, and industry stakeholders should closely monitor upcoming court proceedings, as they will determine XRP’s future regulatory landscape.

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