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XRP has gained bullish traction after acquiring a major license in Singapore and the rejection of the U.S. Securities and Exchange Commission’s (SEC) appeal.  XRP is up by 4.9% in the past 24 hours and is trading at $0.53 at the time of writing. The hike comes as the asset’s 24-hour trading volume has risen by 93%, reaching a whopping $1.72 billion.  XRP price , whale activity and social volume – Oct. 4 | Source: Santiment The recent surge comes as the U.S. court rejected the SEC’s appeal against Ripple, which started in 2020. U.S. District Judge Analisa Torres stated that the regulator’s request to stay in the lawsuit was denied. You might also like: FTX founder Sam Bankman-Fried’s trial day 1: Recap Moreover, the Monetary Authority of Singapore (MAS) has also given In-Principle approval to the U.S.-based blockchain company. Ripple co-founder and CEO Brad Garlinghouse added that Ripple has “secured the full Major Payment Institution license for digi...

Ripple announced a private XRP ledger (XRPL) in 2021 for CBDCs leveraging blockchain technology. The development makes cryptocurrencies “be leveraged as a neutral bridge asset for frictionless value movement between CBDCs and other currencies,” said the company. Around 130 countries around the world are looking to launch CBDCs, touting them as the future of all transactions. 98% of the world is exploring CBDC options, and XRP could gain big if they incorporate their ledger technology with other nations. Also Read: U.S. & European Union React to BRICS Expansion Taking this into consideration, pseudonymous cryptocurrency analyst Bitforcoinz predicted that Ripple ’s integration with CBDCs could catapult the XRP price to new highs. According to the price prediction, XRP could touch $10,000 if it powers CBDCs in all countries that explore digital currencies. #XRP was designed to settle CBDC's! There are not enough XRPz out there to brige all the money at a...

Also Read: Terra Luna Classic Top Validators Support Crucial Dynamic Minimum Commission Proposal advertisement John Deaton Explains Potential Settlement Terms Responding to a question on what could come between the two parties and a settlement, attorney Deaton said the ongoing Coinbase Vs SEC lawsuit could be crucial to the prospect of Ripple settlement. This is because if the judge in the Coinbase case grants the exchange a motion to dismiss, it would mean that token sales on the exchange does not fall under U.S. securities laws, while the crypto staking part continues to be a part of the litigation. He explained, “The only way Ripple and the SEC (could) settle before the end of the year is if Judge Failla grants the Coinbase motion to dismiss or partially grants it – finding token sales on an exchange in a blind bid/ask transaction do not fall under U.S. securities laws” If the motion to dismiss is granted, the SEC would find it tough ...

Bitcoin and altcoins perked up today, but is this rally nothing more than an oversold bounce? When the markets are trending, traders should be active if they want to earn money. On the other hand, in a ranging market, it is better to wait on the sidelines with patience, or else traders may lose money due to choppy random moves in either direction. Bitcoin’s (BTC) sideways price action since the sharp fall on Aug. 17 shows that the bulls and the bears are unsure about the next directional move. Therefore, it is better to wait for the breakout to happen before waging large bets. Daily cryptocurrency market performance. Source: Coin360 In the short term, institutional traders also seem to be taking a cautious approach. A CoinShares report showed an outflow of $55 million from digital asset investment products for the week of Sept. 13. What are the important support and resistance levels that need to be crossed for a trending move to start in Bitcoin and altcoins? Let’s study the charts ...

Also Read: US CPI Data Release: How Will Bitcoin Price React? advertisement Lawyers on both sides of the XRP Vs SEC lawsuit had a busy day on August 9, 2023, with two filings, one each from the agency and the Judge. The onus is now on how Ripple reacts to these developments. Ripple Filing Response Next Week Stuart Alderoty, the Chief Legal Officer at Ripple, clarified on the rights the agency have in terms of appealing the Summary Judgment. He said the agency is only seeking the court’s permission to file an appeal. In response, Ripple will file a letter to the court next week, Alderoty said. Importantly, the US SEC is not seeking to appeal against the decision of XRP being a security, it is rather on its losses on the programmatic and individual sale of the token. “The SEC does not have the “right” to appeal just yet which is why they are asking permission to file an “interlocutory” appeal. Ripple will file its resp...

Ripple clarified six misconceptions about the recent ruling. After it, XRP and Bitcoin are the only digital assets that aren’t considered securities in the US. On July 13, Judge Torres ruled in the trial of Ripple v. SEC, stating that Ripple is not a security. The first point that the company addressed in its Q2 report is that the decision issued by Judge Torres wasn’t split. The company said that it’s clear that the main point of the court decision was to understand if Ripple was or was not a security, and it has been clear that it’s not. The second misconception related to XRP being security in some settings but not others. The company said that XRP is not a security, explaining, as the court said, that “XRP, as a digital token, is not in and of itself… an investment contract.” You might also like: Bank of England releases new paper on Ripple use cases The third misconception was related to a share of stock always being tak...

Crypto lawyer s John Deaton and Mike Selig took to Twitter to debunk misconceptions about the judge Torres’ decision regarding XRP’s security status . The legal experts sought to clarify the ruling amid what they deemed to be widespread inaccuracies perpetuated by financial commentators and even some politicians. John Deaton, the founder of CryptolawUS, expressed his concern about the misinterpretation of the US judge Torres decision, questioning whether it was a result of genuine confusion or intentional misinformation to push false narratives. He called out politicians like Brad Sherman, accusing them of disregarding the law to gain more control over financial markets. It’s amazing how many people including financial commentators continue to misstate the Torres Decision. Mike explains it well below. The question I have is whether this is genuine confusion or are people intentionally misstating what she said to promote a false narrative.… https://t.co/1xXqiNEi4F ...

XRP price is down today like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week. XRP (XRP) price is down today , mirroring trends elsewhere in the cryptocurrencymarket as traders await the Federal Reserve rate decision in the week. XRP price drops amid rising dollar strength On July 24, XRP price dropped 8% to $0.68, underperforming the crypto market's 3.5% decline on the same day. The XRP/USD pair declined amid growing expectations that the Fed would raise interest rates by 25 basis points in its July 25-26 meeting. XRP/USD versus the crypto market's daily performance chart. Source: TradingView A higher rate environment is considered bad for cryptocurrencies like XRP. As a result, some traders have rotated out of high-cap cryptos to seek shelter in safer assets like the U.S. dollar, selling at the peak of the Ripple-led market rally on July 13. For instance, XRP's price climbed 75% on July 13 but was unable to extend its gains above $1...

Also Read: Tesla Retains Dogecoin As Payment Option; Removes Bitcoin advertisement Meanwhile, Ripple is moving ahead with its expansion plans in Europe after the historic win in the SEC case. Earlier on Friday, CoinGape reported that the company applied for a crypto asset firm license with the UK’s Financial Conduct Authority (FCA) as well as a payment institution license with Ireland regulators. Will The US SEC Request For Appeal Against XRP Ruling? According to Bill Hughes, a lawyer with crypto wallet MetaMask’s developer ConsenSys, the federal regulatory agency will have to act quickly if they were to stand a chance to appeal against Judge Torres’ decision. Hughes explained that very soon the SEC would have to inform the district court that it wishes to appeal the summary judgment and seek permission to do so. If permitted, the SEC officials could present an argument as to why they need to appeal. Also Read: Binance’s Half-Yea...

Also Read: Terraform Labs Wants Access to FTX Wallets in Fraud Case Defense advertisement Since the Summary Judgment was delivered, the XRP price grew by as much as 60% and so far maintained the same price range around the $0.80 mark, whereas the XRP holders are speculating on the token touch ing $1 mark soon. The ruling brought about immediate change in the United States crypto ecosystem, with top exchanges like Coinbase reinstating XRP trading on its platform. Attorney Jeremy Hogan Explains XRP’s Untouchable Part Referring to the historic ruling by Judge Torres, the attorney said the SEC may not be able to appeal the XRP ’s status as not being a security in itself. He explained that the underlying meaning in the order shows that part of the order is not appealable, in what could be an irreversible victory not just for XRP holders but also for the Crypto Market . “I don’t think that’s appealable. I don’t think an...