Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

SEC vs Ripple Update: Motion to Temporarily Suspend Appeal Granted; What Next for XRP Price?

Share This Post

Ripple vs. SEC News_ Settlement Talks Heat Up, Will XRP Price Finally Break Free

The post SEC vs Ripple Update: Motion to Temporarily Suspend Appeal Granted; What Next for XRP Price? appeared first on Coinpedia Fintech News

  • Closing the four-year legal battle opens a new chapter for XRP mainstream adoption, catalyzed by Ripple Labs’ payment products.
  • XRP price must hold above the support level of about $2 to invalidate further market correction.

The Donald Trump administration has gradually fulfilled its promises made during the campaign period to the crypto ecosystem. The successful replacement of Gary Gensler with crypto-friendly SEC chair Paul Atkins has helped expedite the closure of several web3-related cases, including against Ripple and Binance exchange.

SEC vs Ripple Case Update

Earlier on Wednesday during the mid-North American trading session, James K Filan, a prominent defense lawyer, released court documents dated April 16 regarding the SEC vs Ripple appeal. 

According to the court documents, Circuit Judge José A. Cabrenas granted a joint motion, filed by the U.S. SEC and Ripple to temporarily suspend their appeals amid the case closure.

“The parties jointly move to hold this appeal in abeyance, with the U.S. SEC directed to file a status report within 60 days of this order,” the court order noted.

Meanwhile, Ripple Labs agreed to pay a $50 million fine to settle the longstanding case. 

XRP Price Analysis

After closing the first quarter in bearish sentiment, XRP has attempted to regain a bullish outlook in the past few weeks. The large-cap altcoin, with a fully diluted valuation of about $206 billion and a 24-hour average volume of about $3.45 billion, has been forming a potential reversal pattern in the daily timeframe.

The XRP price, against the U.S. dollar, has formed a possible inverse head and shoulders pattern, coupled with a bullish divergence of the daily Relative Strength Index (RSI). As a result, if the XRP price holds above the support level of around $2 and remains above the YTD falling logarithmic trend, a target of between $2.8 and $3 will be achievable.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

As Bitcoin and Ethereum hover near critical resistance levels, market sentiment is shifting rapidly Analysts are now calling for an incoming Altseason, with bullish momentum building across the

Ethereum Founder Pushes ETH As Cash-Substitute, Can This Drive Price Above $4,000?

Ethereum founder Vitalik Buterin has made a case for ETH to be used as a cash substitute amid growing concerns of cash extinction in some Nordic nations However, Buterin noted what needs to happen

Bitcoin Expert Samson Mow Reveals Why BTC Is Not Trading At $10 Million Per Coin Already

Samson Mow, a Bitcoin expert and the Chief Executive Officer (CEO) of JAN3, a BTC-focused infrastructure firm, has shared a striking take on the current valuation of the flagship cryptocurrency

From $4.5B to $20B: Grayscale Bullish on AI Crypto’s Future, Cites Key Catalysts

The market capitalization of tokens in the artificial intelligence (AI) crypto sector has surged from $45 billion in 2023 to $20 billion in just two years Growth has however slowed this year, with

XRP News Today: VivoPower Announces a $121M Private Funding to Become First XRP Treasury-focused Publicly Traded Company

The post XRP News Today: VivoPower Announces a $121M Private Funding to Become First XRP Treasury-focused Publicly Traded Company appeared first on Coinpedia Fintech News VivoPower International PLC

Ethereum Futures Market Boom As Open Interest Surges To A New Peak

Ethereum has gained bullish traction with the crypto asset reclaiming and surging past the $2,600 price level as Tuesday drew to a close ETH’s recent upward performance has been attributed to
You have not selected any currencies to display