Today, the price of XRP, a popular cryptocurrency, has seen an unexpected increase while much of the market is in decline. Since the start of the trading session, XRP has risen by over 1.3%, reaching $0.46.
This surge has led to speculation about potential factors behind this upward movement. One hypothesis suggests anticipation or insider information regarding the impending ruling in the SEC's case against Ripple.
The parties are currently finalizing the issue of remedies, with notable attention given to the fact that a similar decision last year on July 13 resulted in XRP being classified as a non-security, doubling its value in a single day.
Additionally, there has been substantial investment inflow into XRP-focused funds. Since the beginning of the year, these funds have attracted more than $18 million, contrasting with outflows in other sectors. This trend mirrors last year's
performance, where investments in XRP ETPs remained stable from March to July 2023.
As the legal dispute between Ripple Labs and the SEC draws to a close, a final judgment is expected in July. Legal experts say that barring unexpected developments, the ruling could come as early as July 13 or by the end of the month.
Fred Rispoli, an attorney who supports XRP, predicts that Judge Torres will rule on remedies by July. The SEC is asking for a $2 billion fine, while Ripple argues that the fine should not exceed $10 million. Rispoli noted the historical significance of these dates, recalling last year’s ruling that XRP was not a security, which had a significant impact on its price.
With the market closely monitoring developments, anticipation surrounding the Ripple v. SEC verdict intensifies. Despite broader market challenges, investors are keenly aware of the potential implications of this decision on future XRP price movements.
Ripple CEO Brad Garlinghouse praised Japan's clear blockchain regulations and discussed the future demand for Yen-backed stablecoins. Ripple plans to launch its U.S.-based stablecoin first, with potential future expansion into Japan.
WeatherlyRipple has recently increased its blockchain influence in Asia through its cooperation with Futureverse, a Japanese artificial intelligence and metaverse technology company, and South Korea's Yonsei University joining Ripple's University Blockchain Research Initiative (UBRI).
DanteRipple has expanded its bank ID to China and Hong Kong, but one user clarified that the update did not authorize XRP tokens for these transactions.
AlexIndia's crude oil trade with the UAE via XRP Ledger marks a major blockchain breakthrough, highlighting XRP's rising potential and altcoin impact.
Huang BoSEC fines Ripple $125M in XRP lawsuit; ODL sales unaffected, XRP surges 20%.
Xu LinRipple’s settlement with the SEC includes a $125 million penalty, ending a major legal dispute and resulting in a 20% rise in XRP’s price.
Huang BoRipple partners with Dubai’s DIFC Innovation Hub to boost blockchain innovation, with XRP gaining approval for use in UAE virtual asset firms.
Huang BoRipple’s RLUSD launch and recent XRP token unlocks fuel speculation about the SEC lawsuit’s resolution, with ongoing debate over potential new legal risks and settlement prospects.
HafizRipple's release of 500M XRP triggers an 8% price drop and renewed settlement speculation. Legal experts predict appeals and a potential August ruling.
Huang BoRipple anticipates resolving its long-standing legal battle with the SEC, highlighting the broader need for clear crypto regulations in the U.S.
DanteXRP faces volatility due to legal uncertainties with the SEC, causing a price drop and increased trading activity.
WenJunThe accumulation of XRP whales and cooling of inflation in the United States are the primary catalysts for the continued recovery in cryptocurrency prices.
JinseFinanceThe selling sentiment following the latest Bitcoin halving has been particularly favorable for undervalued XRP.
JinseFinanceMartinez suggests XRP may hit $0.63-$0.65 if it closes above $0.57. Short-term, it could drop to $0.52 or $0.50 but may rise to $0.57 if it surpasses $0.54-$0.55. AO signals possible consolidation, but a breakout could push XRP to $0.65.
Xu LinYears ago, the show predicted the rise of cryptocurrencies. XRP enthusiasts are now fascinated by scrawls on a blackboard by Bart Simpson.
Beincrypto
NulltxNulltxNulltxNulltxA descending triangle breakdown coupled with XRP's correlation with Bitcoin can put downward pressure on price.
Cointelegraph