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Ripple Vs SEC Ex-CFTC, Pro-XRP Lawyers Say SEC Will Drop the Appeal

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Ripple vs SEC: The US Securities and Exchange Commission (SEC) is likely to drop the appeal in the Ripple lawsuit. Former CFTC Chairman Chris Giancarlo and pro-XRP lawyers believe it’s “very plausible” that new SEC chair under the Trump administration will drop SEC v Ripple Labs lawsuit. It will also prove to be game changing for XRP.

Ripple vs SEC Lawsuit Nears Conclusion

FOX Business Charles Gasparino in an X post said he believes Donald Trump’s election as US President is proving game-changing for XRP. The post garnered massive buzz in the XRP Army, triggering bullish sentiment on Thanksgiving day.

In addition, Gasparino revealed that former CFTC Chairman Chris Giancarlo told him that the “new SEC will drop the appeal” against Ripple. The government agency has appealed the decisions on XRP sales by Ripple as well as executives Brad Garlinghouse and Chris Larsen as not securities. Meanwhile, the company has filed cross appeal whether investment contacts must have ‘essential rights and obligations.’

Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan claimed that the appeals will likely get dismissed or withdrawn. Morgan in a post on November 29 added that the appeal would be dropped as Judge Torres made no error.

“The political motive for continuing a near hopeless appeal will largely disappear when its main internal SEC enabler Gary Gensler resigns on 20 January 25,” said Bill Morgan.

XRP Price Eyes Hitting $2 Soon

XRP army looks at least the $2 price rally amid SEC Chair Gary Gensler’s exit and Trump’s crypto policies. The Trump-Vance transition team has nominated pro-crypto leaders to lead government agencies. Paul Atkins is leading the race to become the next SEC chairman. Ripple CLO Stuart Alderoty is bullish on the move.

The price of XRP has rallied 200% amid the Trump trade. The price has hit $1.64 today, a new 3-year high. Trading volume is rising again as lawsuits are reaching near end.

As CoinGape reported first, US district court ruled in favor of Ripple and CEO Brad Garlinghouse in XRP lawsuit. The judge has now granted a motion to expedite judgment in the In re Ripple Labs Inc Litigation.

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Varinder Singh

Varinder has over 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 leading the news team to cover 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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XRP Whales Move 139M Coins As Ripple Case Near Potential End

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1 hour ago

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November 29, 2024

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XRP whales have taken action to shuffle over 100 million coins on Friday, setting off waves of speculation among traders and investors globally. As the Ripple Labs vs U.S. EC lawsuit reaches a potential end, these transactions have sparked substantial intrigue over the firm’s native coin’s future movements. Simultaneously, XRP price continues to pump, with the asset even surpassing BNB in terms of market cap.

XRP Whales Move Over 100M Coins, Ripple Case End Looms?

According to data from Whale Alert on November 29, two XRP whales have moved heavy amounts of the token. Per the data, rBJ.. moved 104.39 million coins, worth $167 million, to another unknown wallet, rhD. Subsequently, another whale address, rBE.. moved 35 million coins worth $52.28 million to another address, rsX. Altogether, these transactions ignited a speculative buzz as the company’s lawsuit against the U.S. SEC saw waves turning in favor of the American blockchain payments company.

Notably, the American blockchain payments company’s lawsuit against the SEC saw new turns, primarily in favor of XRP. Former CFTC Chairman Chris Giancarlo told FOX Business that the “new SEC will drop the appeal,” mirroring optimism in light of Donald Trump’s reelection. Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan also proclaimed that the appeals will likely get dismissed or withdrawn. Overall, the XRP whale transactions amid these legal maneuvers have gained significant traction among industry participants globally.

On the other hand, the court has granted the motion to amend the order pertaining to judgment and stay in the XRP lawsuit, per the latest California district court filing in the re Ripple Labs Inc litigation. Both parties in the lawsuit collectively agreed that there was no specific reason to delay the judgment in the lawsuit, given class claims were resolved. Meanwhile, the plaintiff has requested the court for an “express finding in an amended judgment” primarily to avoid any further delay in the final judgment.

Ripple’s Coin’s Price Continues To Rally

At the time of reporting, XRP price soared 13% over the past day to reach $1.65. Its intraday low and high were $1.43 and $1.68, respectively. Notably, the token’s 24-hour trading volume witnessed a 50% uptick in value to $9.88 billion. The rising movement, as the lawsuit against the SEC nears its potential end, has ignited significant among traders and investors globally. It’s also noteworthy that the token flipped BNB in terms of market cap, boasting a valuation of $94.39 billion.

Meanwhile, a recent XRP price analysis by CoinGape Media revealed that the coin surged past a five-year resistance level in market dominance. This bullish trend has further ignited sentiments of a $10 target ahead for the coin. Market watchers continue to monitor the token, expecting further gains imminent.

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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 Leverage For Terra Luna Perpetual Trading

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2 hours ago

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November 29, 2024

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LUNC News: The world’s largest crypto exchange Binance has increased leverage by four times for Terra (LUNA) trading. The move comes as the exchange extended support for the Terra Luna community amid the bankruptcy of Terraform Labs. LUNA, LUNC and USTC prices all jumped amid the massive buying sentiment in the broader crypto market.

Binance Offering Four Times Leverage on Terra Luna Trading

In an official announcement by Binance, the crypto exchange revealed updated leverage and margin tiers of LUNA2USDT. The exchange has increased leverage and reduced maintenance margin rate, coming as major news for the broader LUNC community.

The changes were exclusively made for traders looking to take a position of 0 to 5000, 5000 to 25,000, and 25,000 to 100,000. The exchange increased leverage from 11-20x to 51-75x for a position of 0 to 5000, indicating support for Terra Luna price rally.

Also, Binance announced changes in XEMUSDT, ORBSUSDT, LOOMUSDT, LUNA2USDT, QNTUSDT, CHRUSDT, and JOEUSDT USD-M perpetual contracts.

LUNC News: Massive Bullish Momentum Signals

Terra (LUNA), LUNC, and USTC show massive bullish momentum as prices move above support levels. The community also seeks another major token burns from wallets related to beleaguered Terraform Labs and Luna Foundation Guard (LFG).

Terra (LUNA) price trades at $0.502, up 5% in the last 24 hours and 45% in a month. The 24 hour low and high are $0.4746 and $0.5036, respectively. Derivatives trading activity is on the rise amid Binance’s changes to leverage, as per Coinglass data.

Meanwhile, LUNC price has jumped 6% today and 33% this month. The price currently trades at $0.0001221, with a 24-hour high of $0.0001234. USTC price has climbed 10% in a month. Trading volume has increased by 15% in the last few hours.

Total LUNC futures open interest has surpassed the 100 billion mark, up more than 10% in the last 24 hours. 1000LUNC futures open interests on Binance and Bybit have climbed over 9% in the last 24 hours, indicating buying activity among traders.

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Varinder Singh

Varinder has over 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 leading the news team to cover 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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Whale Moves 1.1 Billion DOGE, Is Rally To $1 Starting?

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3 hours ago

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November 29, 2024

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Dogecoin News: A Dogecoin whale transaction has caught the attention of the crypto community, fueling speculation about a potential price rally. Over 1.1 billion DOGE, worth more than $445 million, were transferred across three transactions involving unknown wallets. Such large-scale movements often hint at accumulation by major investors, signaling bullish sentiment.

This development has reignited discussions about Dogecoin’s trajectory, with many questioning whether the token is positioning itself for a significant breakout. Speculation is growing that DOGE could soon edge closer to the long-anticipated $1 milestone.

Dogecoin News: Whale Transfers 1.1 Billion DOGE Tokens

A notable shift in Dogecoin’s market activity has occurred as a whale moved a staggering 1.1 billion DOGE tokens across three transactions, drawing significant attention from the crypto community. According to Whale Alert, the largest of these transfers involved a massive 500 million DOGE, valued at over $202 million.

Additionally, two smaller transfers of 300 million DOGE each, worth about $121 million, were also carried out. Such large-scale transfers by a single entity typically signal major movements within the market, often linked to accumulation by whales or institutional players.

This whale activity indicates that major investors might be positioning themselves for potential future gains. The scale of the transfers highlights significant interest in top meme coins, likely driven by expectations of an upward price movement. With these transfers, whales could be seeking to secure their positions before any anticipated bullish trends, which could drive demand in the market.

On-chain data from Blockchair data reveals the wallet currently holds 600 million DOGE, making it one of the top 20 largest Dogecoin holders. This accumulation trend, alongside recent high-value transfers, points to continued bullish sentiment within the Dogecoin ecosystem. The growing number of high-value transfers into personal wallets could be an indicator of a potential price surge, with whales strengthening their positions in anticipation of future market movements.

DOGE Price Trends and $1 Speculation

DOGE price is currently trading at $0.412, reflecting a 4% daily increase, 7% weekly growth, and a staggering 143% monthly surge. Its 24-hour trading volume stands at $4 billion, with a low of $0.3922 and a high of $0.4144. With a market cap of $61 billion, Dogecoin remains the seventh-largest cryptocurrency by market value.

Despite a 41% drop in derivative volume and a 58% decline in options volume reported by Coinglass, market sentiment remains strong. Some analysts believe DOGE could hit $1 in the near term, driven by sustained demand and market momentum. Notably, a popular crypto analyst has gone further, predicting DOGE price rise to $4.20 in the ongoing bull cycle, citing DOGE’s historic 500% rally since August.

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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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