Category Archive : Ripple

XRP Has Nearly Tripled in Value Despite SEC Lawsuit Due to ‘New Phenomenon,’ Says Galaxy Digital CEO

A “new phenomenon” is helping XRP’s price thrive despite the ongoing U.S. Securities and Exchange (SEC) lawsuit against Ripple, according to Galaxy Digital CEO Mike Novogratz.

On December 22nd, 2020, the SEC officially filed a lawsuit against Ripple Labs, alleging that XRP was an unregistered security upon its launch and remains a security to this day. Since the filing of the complaint, XRP has surged over 172% from $0.40 to $1.09 at time of writing.


The head of the digital asset management firm tells his 379,000 Twitter followers that the asset’s price action is a testament to the value of the XRP community.

“The value of XRP has actually almost tripled since the SEC actions. It hasn’t plummeted. It’s a testament to the fact that once communities are formed with shared interest they are damn resilient.”

“It’s not just the XRP community. Look at GameStop. Or DOGE (Dogecoin). Resilience. It’s community identity, and that now has value. This is a fairly new phenomenon.”

On an industry level, Novogratz points out that crypto wealth now represents 0.5% of global wealth.

“That means if you don’t have at least 1/2 percent invested in crypto…


XRP Gearing Up for Major Rally As Two Low-Cap Altcoins Carve Out Bottom, Predicts Top Crypto Analyst

A closely followed crypto strategist and trader says XRP is gearing up for a possible 50% surge as two low-cap altcoins carve out their bottoms.

Pseudonymous crypto analyst Credible tells his 249,100 followers that while XRP briefly traded below his support area of $0.90, it managed to recover a key price level and is now poised to rally to a new higher high.


And here’s one for my ZERPS! We deviated below the range rather than pushing up but now we have reclaimed it, so I am once again targeting the highs at $1.35 and beyond! XRP.”

Source: Credible/Twitter

Credible is referencing a tweet that he posted in September where he plotted XRP’s path from a low of $0.90 to as high as $1.70.

“Swept the highs then swept the lows into daily demand. Number go up now please. XRP.”

Source: Credible/Twitter

Should XRP follow Credible’s script, the altcoin offers a potential upside of over 55% from its current value of $1.09.

As for the crypto analyst’s long-term price target for the sixth-largest crypto, he believes XRP will skyrocket to between $20-$30 this bull cycle.

The widely followed analyst is also looking at Hedera Hashgraph (HBAR), a public network for…


XRP and Cardano Are the Most Popular Crypto Assets in the UK: Report

XRP and smart contract platform Cardano (ADA) are reportedly the most popular crypto assets among retail traders in the UK.

Citing data from the social trading platform eToro, Finance Magnates says that in Q3 of 2021, retail investors in the UK chose XRP more than all other digital assets, allowing the altcoin to retain its position as the nation’s most popular cryptocurrency.


XRP ownership among eToro users increased 4% from Q2 and 105% year-on-year as the coin has seen steady growth since July. XRP opened the year $0.22 and is now valued at $1.09, according to CoinMarketCap.

eToro crypto market analyst Simon Peters tells Finance Magnates that XRP has a strong community of supporters who believe in the coin’s long-term potential. 

“Whilst Bitcoin holdings ‘only’ increased 2%, its year on year increase is 325%, which is a demonstration of how crypto assets have captured retail investors’ imaginations over the past 12 months and showing how they’re a vital component of many portfolios. XRP is similar – its growth quarter on quarter is just 4% but a lot of our investors are holding it. Some bought it way back in 2017, others more recently.”


BTC, ETH share spotlight while XRP struggles

  • ​​​​​​Bitcoin price is continuing its ascent and will face the $62,944 resistance barrier next.
  • Ethereum price has moved on from consolidating under one hurdle to another at $3,938.
  • Ripple price flash crashes close to $1.01 support floor but recovers quickly, eyeing retest of $1.27.

Bitcoin price is not looking back as it breached the $60,000 psychological level. Ethereum mirrors the big crypto’s moves, but Ripple seems to be more volatile than the top two cryptocurrencies.

Bitcoin price remains strong

Bitcoin price has rallied a whopping 44% since October 1 and breached two psychological levels, $50,000 and $60,000. Despite this exponential upswing, the big crypto shows no signs of stopping as it currently trades around $62,330.

BTC will, however, face a minor resistance at $63,330 and its all-time high at $64,985. Therefore, a breach of these two barriers will open Bitcoin price up to a resistance-free path to venture into the discovery phase.

The 161.8% trend-based Fibonacci extension level at $77.525 is the next target for Bitcoin bulls if they manage to produce a decisive close above $64,985. This run-up would constitute nearly…


XRP price renews optimism as Ripple bulls gather strength to kick-start recovery

  • XRP price is lagging behind other cryptocurrencies as Bitcoin has long since begun its rally recording higher highs.
  • The bulls’ inability to push prices higher resulted in XRP price crashing 10% on October 18. 
  • However, a crucial indicator suggests that Ripple may have recorded a local bottom. 

XRP price has crashed 14% from its swing high at $1.18 recorded on October 16, tagging the downside trend line of the prevailing chart pattern. While Ripple (XRP) was at the edge of dropping below $1, a key technical indicator hints that the swing low may have set the local bottom for the time being. 

XRP price prints local bottom

XRP price has been locked within a descending parallel channel on the 4-hour chart, as Ripple continues to record lower highs and lower lows. Although the token is sealed in a consolidation pattern, the Momentum Reversal Indicator (MRI) has flashed a bottom signal, suggesting that it is ready for a move higher.

The technical pattern suggests that Ripple could oscillate between the upper and lower boundaries of the channel before revealing bigger directional intentions. Following the drop toward the downside trend line of the…


Ripple Price Skids 14% But XRP Finds Buyers at Trend Line Support

The Ripple Price encountered heavy selling over the weekend, despite Bitcoin holding above $60k and Ethereum closing in on $4k. Ripple (XRP/USD) dropped from a high of $1.187 on Saturday to a low of $1.017 on Sunday morning before bouncing as it approached the 200-day moving average and rising trend line support. This morning, the price is marginally higher. However, XRP has been the worst-performing cryptocurrency in the top ten over the last seven days.

Despite Bitcoin’s run at the May high lifting the combined crypto market cap to over $2.5 trillion, Ripple is currently valued at around $51b, almost $30 billion less than in April, and $70b below the 2017 peak. Nonetheless, Ripple is currently the sixth-largest cryptocurrency. However, 7th-placed Solana, at $48.6b, is closing the gap on XRP. the recent performance is surprising, considering Ripple labs recently announced partnerships with Banco Santander and the central bank of Bhutan, and joined the Digital Pound Foundation. The positive press hasn’t produced an upswing in the Ripple price, and as a result, XRP continues to trade broadly sideways in a narrowing channel.

XRP Price…


XRP Falls 10.56% In Selloff – India

XRP Falls 10.56% In Selloff India

XRP lawsuit: SEC seeks extension of rebuttal report, discovery deadline

Ripple vs the United States Securities and Exchange Commission case may just get extended as the latter requested the Court to extend the expert rebuttal report deadline to 12 November. Meanwhile, the regulators have also appealed to push the discovery deadline to 14 January.

According to the filing provided by CryptoLawUS, the plaintiffs noted that extension will grant both the parties sufficient time to prepare rebuttal reports and depose a minimum of 14 expert witnesses. However, Ripple doesn’t fully agree to the SEC’s plea.

As per the filing,

“Ripple consents to an extension of the rebuttal report deadline until November 12, but opposes the January 14 deposition deadline, as set forth below.”

While Ripple agreed with the extension of the rebuttal report deadline, it did not agree to extend the deposition deadline. Following which the SEC proposed another deadline of 22 December, but the firm did not agree to it either. In fact, Ripple was filing an opposition for the same on 18 October.

As per the filing Ripple claimed,

“[…] extending the expert discovery schedule beyond December 10, 2021—a date Ripple claims would provide sufficient time for the parties to…


Cost Analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Bitcoin (BTC) rose inside a couple of steps of $63,000 today for the first time since April 18. The new surge in the cost might have been caused after different records highlighted to the eventual approval of a futures- based BTC ETF by the United States Securities and Exchange Commission. As indicated by these reports, the controller might be close to green lighting the application to list Valkyrie’s Bitcoin Strategy trade exchanged fund ETF for listing on Nasdaq. Analysts pointed out that gold’s price had risen sharply leading up to the dispatch of the main U.S.- based gold ETF in 2004. From there on, continued and gold’s value rose over 300% since the ETF was supported, prior to forming a major top. The similitude amid gold and Bitcoin being stores of value seem to have created huge excitement for the launch of a Bitcoin ETF.

Could Bitcoin break above the all-time high and continue its northward journey and will altcoins also join the party? Let’s study the charts of the top-10 cryptocurrencies to find out.

Traders seem to have aggressively accumulated Bitcoin before the announcement of a Bitcoin ETF. The Bitcoin futures open interest in the Chicago Mercantile Exchange…


2 Facts About XRP That You Should Know

Learning about cryptocurrency investments is like learning a new language, even for seasoned investors. Most have heard of the two largest cryptos, Bitcoin and Ethereum, but many others don’t have the same recognition.

XRP (CRYPTO:XRP), the fifth-largest cryptocurrency, with a market cap nearly $53 billion, is one you may have heard of, but perhaps not for good reasons. The token continues to perform well, up about 410% this year and 349% over the past year, but there are two current developments regarding XRP that may impact its growth that you should be aware of.

Image source: Getty Images.

1. The company that created XRP is being sued by the SEC

XRP was created by a company called Ripple, which runs a platform for currency exchange and cross-border transactions called RippleNet. In 2019, Ripple bought a 30% stake in the money transfer company MoneyGram International in what was to be a two-year partnership. Ripple would become MoneyGram’s partner for cross-border payment and foreign exchange settlement using digital assets.

But the partnership ended this past March before the two years were up. A few months before that, in…


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