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Will XRP Lawsuit Be Dismissed?

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2 days ago

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Ripple SEC Case: The crypto community calls for the dismissal of the long-running lawsuit and resignation of SEC Chair Gary Gensler. While former SEC lawyers have denied the odds of XRP lawsuit dismissal, Donald Trump-JD Vance administration’s policy changes and crypto regulatory clarity could help end the case.

Ripple CEO Brad Garlinghouse said he is expecting a resolution or end of the SEC lawsuit after Trump’s win. He also shared the first 100-day crypto checklist for Donald Trump, which included meeting campaign promises such as firing US SEC Chair Gary Gensler and crypto regulatory clarity.

Experts Weigh on Whether Ripple SEC Case Be Dismissed?

Ripple vs SEC lawsuit experts and lawyers have shared insights on case dismissal as President-elect Donald Trump plans major policy overhauls. The crypto industry is one of the biggest winners from Trump’s re-election to the White House as he promised crypto regulatory clarity.

David Schwartz, CTO at Ripple, blamed the U.S. Securities and Exchange Commission (SEC) for using the term “investment contract” to create chaos and confusion around securities law. He clears that the company is legally obligated to Ripple shareholders and not XRP holders. While Ripple can work around legal clarity around XRP and digital assets, the prices of digital assets don’t depend on the efforts of the company.

“The SEC has been treating all reasonable reliance as if it were a contract. They are often opposites. If you can reasonably rely on me to do something because it is in my own interests to do it, you don’t need a contract.”

Pro-XRP lawyer Bill Morgan pointed out that Judge Torres ruled programmatic sales of XRP by Ripple are not securities as it did not satisfy the third prong of the Howey test. Thus, the promotion of XRP to retail holders by Ripple will not impact XRP price.

Attorney Fred Rispoli said the Ripple SEC case can be withdrawn or settled at any time. While he believes the XRP lawsuit withdrawal is “unrealistic” though settlement seems likely.

US SEC to Target Secondary Market Sales

Former US SEC lawyer James Farrell there is absolutely zero percent chance of dismissal of Ripple, Coinbase and other litigations. He also added that if the SEC drops the XRP lawsuit appeal, it will harm the regulator to a great spectrum. The parties need to settle or confer on agreeing with $125 million in civil penalties.

The government agency will continue to target secondary market sales. The SEC has taken a new turn to file lawsuits against crypto firms for secondary sales violating US securities law.

Gary Gensler was asked to resign as the SEC Chair by American Securities Association (ASA) President Chris Iacovella. Critics say Gensler’s regulatory approach has fomented uncertainty, obstructed efficiency in the markets, and shortchanged some investor protections.

Lawyer James Murphy, better known as “MetaLawMan” revealed that historically former SEC Chair resigned from their position a week after a change in the US administration.

XRP Traders Await Price Rally to $1

XRP price is currently trading at $0.67, up over 15% in the last 24 hours. It hit a 24-hour low and high of $0.5898 and $0.7009, respectively. Moreover, trading volumes surged 166% amid the ‘Trump trade’.

As Bitcoin rally cools down on panic of crypto market crash, experts and analysts claim altcoin season amid bullish pattern breakout can trigger a rally in XRP price to $1. Open interest in XRP futures jumped 25% to $1.11 billion in the last 24 hours.

US SEC must file its opening brief regarding appeals in the SEC v Ripple Labs case by January 15, 2025, as per an order by the US Court of Appeals for the Second Circuit.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Launchpool To List Usual (USUAL) With Pre-Market Trading

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2 hours ago

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November 14, 2024

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Binance Launchpool has recently announced the listing of Usual (USUAL) on its platform, sparking market optimism. The launch of the listing will offer users an opportunity to farm the tokens. The exchange will begin the farming process, allowing users to lock their BNB and FDUSD to earn USUAL rewards.

Binance Launchpool to Feature USUAL

Binance Launchpool has announced that it will list USUAL starting November 14. This announcement marks the launch of Usual, a decentralized fiat-backed stablecoin, with pre-market trading to begin on November 19. The exchange users can lock their BNB and FDUSD to farm USUAL tokens, receiving rewards over four days.

The USUAL token will be paired with USDT for pre-market trading, allowing users to trade the token once the pair goes live. The farming of USUAL tokens will begin as users participate in Binance’s Launchpool offering.

Each user will have a maximum holding limit of 40,000 USUAL tokens, with a total token supply of 4 billion USUAL. Of that, 300 million tokens 7.5% will be allocated for Launchpool rewards. This initiative is a significant step in expanding the exchange’s role in the decentralized finance (DeFi) space.

However, users from certain countries, such as the United States, Canada, Japan, and North Korea, will not be eligible to participate. Binance has stated that KYC verification is required for those looking to farm USUAL tokens.

BNB Ecosystem And Market Performance

The listing of Usual on Binance Launchpool marks a new chapter in the DeFi space, offering a decentralized fiat-backed stablecoin. This launch comes at a time when meme tokens like ACT and PNUT have witnessed impressive price surges after their listings, indicating strong market interest in new projects.

BNB Price is currently trading at $634, with a 24-hour low of $605 and a high of $659. The coin has seen a 5% increase in the past 24 hours, a 6.8% rise over the last week, and a 7.6% gain in the last month.Its 24-hour trading volume stands at $3.7 billion, demonstrating robust demand.

The global crypto market is experiencing a bullish trend. Additionally, the recent US election victory by Donald Trump has sparked optimism among Bitcoin supporters. Binance founder CZ’s new initiative, Giggle Academy, is also gaining attention. The project aims to educate users in key target countries.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Expands Offerings For ACT, PNUT, NEIRO Sparking Optimism, What’s Next?

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3 hours ago

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November 14, 2024

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In an effort to further uplift market sentiment, leading crypto exchange Binance announced on Thursday that it is expanding offerings for three tokens. The crypto exchange revealed that it is listing new pairs for The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO on Ethereum tokens, sparking investor curiosity. Meanwhile, the listed coins’ prices soared 3%-32%, signaling that the broader market reacted positively to the listings announcement.

Binance Lists ACT, PNUT, & NEIRO Echoing Market Optimism

According to an official Binance announcement dated November 14, the crypto exchange is expanding offerings for the aforementioned tokens starting November 15 at 08:00 UTC. Per the listing announcement, the exchange is adding The AI Prophecy in FDUSD and USDC trading pairs. Further, the crypto exchange is also adding NEIRO in the USDC trading pair.

Simultaneously, the crypto exchange’s announcement revealed that Peanut The Squirrel will be added to the spot trading platform in BTC, FDUSD, and USDC trading pairs on the same date and time. Also, the leading crypto exchange highlighted that it will enable spot Algo Orders for ACT in FDUSD and USDC pairs, NEIRO/USDC, and PNUT in BTC, FDUSD, and USDC pairs. Overall, the announcement reverberated substantial market optimism over the listed coins’ price movement amid a bullish crypto market.

How’s The Current Market Sentiment For Listed Coins?

At the time of reporting, NEIRO price soared 3% over the past day and is now trading at $0.002479. The coin’s intraday low and high were $0.002285 and $0.002749, respectively.

NEIRO priceNEIRO price
NEIRO price

Simultaneously, The AI Prophecy price gained 9% intraday to rest at $0.7519. Its 24-hour low and peak were $0.542 and $0.942, respectively.

ACT price amid Binance listingACT price amid Binance listing
ACT price

Additionally, Peanut The Squirrel price witnessed gains worth 32% over the past day to rest at $1.88. The token’s intraday low and high were $1.28 and $2.47, respectively.

PNUT price amid Binance listingPNUT price amid Binance listing
PNUT price

Overall, the bullish price trajectories fall in line with Binance’s listing announcement. Notably, CoinGape Media previously reported ACT price to have soared 1300% and PNUT 250% in light of the same exchange’s previous spot listings and Elon Musk’s X post, which has fueled market speculation.

Meanwhile, NEIRO price witnessed a whopping 115% surge with its listing on major exchanges. Altogether, these past chronicles underscore the listed tokens’ potential to offer further gains in the market.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Litecoin Says It “Now Identify As a Memecoin”, LTC Price Spikes 15%

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4 hours ago

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November 14, 2024

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Litecoin is likely showing interest in joining the meme coin sector following the recent market frenzy, as per a post that says “I now identify as a memecoin” due to current market condition. Dogecoin reacted and welcomed the move and asked fans to suggest a mascot. Traders responded immediately to the posts, triggering a 15% upside move in LTC price.

Litecoin Now Joining the Meme Coin Space?

Litecoin, a decentralized peer-to-peer crypto inspired by Bitcoin, triggered a massive discussion on the X platform on November 14. The post said, “Due to current market conditions I now identify as a memecoin.”

This sparked discussion and speculation in the crypto community, with many suggesting how the transition will take effect. Other top meme coins such as Dogecoin welcomed this proposal by Litecoin. It recommends promoting Litecoin’s move with a “chibi mascot.”

 

One of the users took a jibe stating, “You were always a meme coin”. Litecoin responded that it a “lifestyle choice at the moment. Probably just a phase.” Also, Litecoin mocked Ethereum and Solana as the crypto community hopes these projects can also tweet something like this.

Will LTC Price Breach $100 Soon?

The entire meme coin sector has turned into a frenzy following PEPE Coin listing on Coinbase, Robinhood, and Upbit exchanges on Tuesday. Along with the 83% gains in PEPE price in the last 24 hours, Dogecoin (DOGE), dogwifthat (WIF), and Bonk (BONK) have also rallied another 25% each. Well, looking at this massive crowd attention, Litecoin seems tempted to join the meme coin camp.

LTC price jumped 15% in the past 24 hours, with the price currently trading at $82.25. The 24-hour low and high are $72.70 and $84.35, respectively. Furthermore, the trading volume has increased by 33% in the last 24 hours, indicating a rise in interest among traders.

As per CoinGape analysis, Litecoin price can jump to hit $100 with golden cross pattern formation and the meme coin hype.

As per the data from IntoTheBlock, the balance held by short-term LTC holders has surged by 31% over the past month, signaling a notable trend shift. Such accumulation by short-term holders often aligns with market bottoms or precedes significant price rallies.

Source: IntoTheBlock

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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