Tag: XRP

XRP Surging Towards $2, Bitcoin and Ethereum Extend Rally

XRP Surging Towards USD 2, Bitcoin and Ethereum Extend Rally

Bitcoin price started a strong increase above the USD 62,000 level. BTC even broke the USD 63,500 level and it traded to a new all-time high. It is currently (04:00 UTC) showing positive signs and it could soon continue higher above USD 64,000.

Similarly, most major altcoins are gaining bullish momentum. ETH is accelerating gains and it even broke the USD 2,300 level. XRP is also outperforming and it is now trading above USD 1.80.

Bitcoin price
In the past three sessions, bitcoin price gained bullish momentum above the USD 62,000 level. BTC even broke the USD 63,000 and it traded to a new all-time high above USD 63,800. It seems like the price might continue higher above the USD 64,000 level. The next major resistance is near the USD 64,500 level.
If there is a downside correction, the USD 63,000 level is an immediate support. The next major support is now forming near the USD 62,200 level.

Ethereum price

Ethereum price is gaining pace above the USD 2,250 and USD 2,300 levels. ETH traded to a new all-time high near the USD 2,350 level. The current price action is positive and it seems like the bulls are aiming for more gains towards the USD 2,400 level.
On the downside, USD 2,300 level is a major support. Any more losses may possibly lead the price towards the USD 2,265 level.

BNB, ADA, litecoin, and XRP price
Binance Coin (BNB) is lagging bitcoin, but it is slowly rising above USD 550. BNB is trading above USD 565 and it might continue to rise towards the USD 580 resistance. The next major resistance is now forming near the USD 600 level. The main support is now forming near USD 550.
Cardano (ADA) is up over 10% and it is gaining pace above USD 1.400. ADA is rising and it is trading above USD 1.465. A clear break above the USD 1.50 resistance could open the doors for a strong increase. The next major resistance is near the USD 1.62 level.
Litecoin (LTC) is up 12% and it broke the USD 265 resistance. LTC is now trading above USD 275 and it might attempt an upside break above the USD 280 level. If there is a downside correction, the USD 268 and USD 265 levels might provide support.
XRP price is outperforming bitcoin and it rallied over 25%. The bulls were able to push the price above the USD 1.80 level and it seems like they are aiming for a test of the USD 2.00 level.

Other altcoins market today
Many altcoins gained over 10%, including DOGE, IOST, EOS, BCH, BSV, MATIC, VET, RUNE, TRX, ETC, LINK, XLM, ATOM, LTC, ZEN, QTUM, and HBAR. Out of these, DOGE rallied over 50% and it even broke the USD 0.10 level.

Overall, bitcoin price is gaining pace above the USD 63,000 level. If BTC extends gains above USD 64,000, there are chances of a move towards the USD 65,000 level.

Source – CryptoNews 

XRP Whale Transfers 745 Million Coins, total value stand at around $330 million

XRP Whale Transfers 745 Million Coins, total value stand at around $330 million

XRP price jumped more than 10% in the last 24 hours after a rise in demand from retail investors. Anonymous XRP transactions are also on the rise amid price growth as an unknown user moved 745 million coins to an unidentified crypto wallet.

According to the latest data published by the blockchain tracking and analytics firm, Whale Alert, an unknown whale transferred $330 million worth of XRP tokens on 15 March at 20:34 UTC. As of writing, the cryptocurrency is trading around $0.47 with a market cap of more than $21 billion.

XRP is the 7th largest cryptocurrency in the world. The digital asset is up more than 100% since the start of 2021. The cryptocurrency has erased all losses caused by the SEC’s lawsuit against Ripple and its executives in December 2020.
Despite the recent delisting announcements by digital exchanges around the world, the institutional interest in the 7th largest cryptocurrency has increased substantially during the last few months. According to a report published by CPA Australia, the central bank of France is actively considering XRP Ledger as a potential platform for the launch of a central bank digital currency.

XRP and Ripple
Ripple, the San Francisco-based blockchain firm, announced earlier this month that the company is testing a private version of the XRP Ledger to support central banks in the issuance of central bank digital currencies (CBDCs). The SEC termed XRP as a security in December last year and filed a lawsuit against Ripple Labs and its two executives including CEO, Brad Garlinghouse. The crypto market reacted negatively to the news and digital currencies lost nearly $50 billion in market cap following the SEC’s announcement. Around 6,000 XRP holders have attempted to insert themselves as third-party defendants in the lawsuit.

Anonymous cryptocurrency transactions have been on the rise for the last few weeks. On 16 February 2021, an anonymous crypto user moved nearly 220 million XRP from digital exchange Coinbase to an unknown wallet.

Source – Finance Magnates 

US Judge Denies Request to Add XRP Holders as Intervenors in SEC’s Lawsuit Against Ripple

US Judge Denies Request to Add XRP Holders as Intervenors in SEC's Lawsuit Against Ripple

A U.S. judge has denied the request to add XRP token holders as intervenors in the Securities and Exchange Commission (SEC)’s ongoing case against Ripple. In a ruling made one day after the motion was filed, the judge, Analisa Torres denied the token holders’ request “without prejudice to renewal.”

Protecting Interests of XRP holders
In their motion filed on March 14, 2021, XRP holders said their desire to be included in the SEC’s proceedings against Ripple was on the grounds that this would enable them to protect their interests. They added that “disposing of the action may as a practical matter impair or impede their ability to protect its interests.” Also, the motion suggests that “existing parties do not adequately represent the interests of XRP holders.”

Nevertheless, in their motion, XRP holders claim that if accepted as intervenors, they will not “unduly delay or prejudice the adjudication of the original parties’ rights.” Furthermore, the holders said:

If granted leave to intervene, XRP Holders will significantly contribute to the full development of the underlying factual issues in the case and to the just and equitable adjudication of the legal question presented.

Yet barely 24 hours later, the court had dismissed the motion and the case is now set to proceed without the inclusion of XRP holders as intervenors.

New Front in SEC’s fight against Ripple
Meanwhile, the court’s rejection of this request came shortly after reports suggested that two Ripple executives had approached the same court seeking to quash the SEC subpoenas. As part of its strategy against Ripple executives, the U.S. regulator had asked six banks to release the “personal finance information” of directors at Ripple.

However, in their submission, the executives claimed the subpoenas were a “wholly inappropriate overreach” and an “invasion of privacy.” At the time of writing, the court has not ruled on this submission.

Source – Bitcoin News