At a hearing in the US District Court for the Southern District of New York, Binance sought to dismiss a lawsuit filed by victims affected by the Hamas attack on Israel.

The lawsuit was filed in 2024 by Judith Raanan, a survivor of the Hamas hostage-taking during the 2023 attacks. The victims accused the crypto exchange of playing a role in facilitating the violence

Binance Challenges Claims of Aiding Hamas in Court

During the hearing on January 30, Binance’s legal team argued that the claims should be dismissed. They pointed out that there was no direct relationship between Hamas and the exchange.

“There was no special relationship between Hamas and Binance,” the lawyers argued.

The 2024 lawsuit alleges that Binance played a role in facilitating terrorism by aiding Hamas and other organizations linked to violence.

Binance, along with former CEO Changpeng Zhao (CZ), faces accusations of non-feasance. They failed to prevent money laundering and did not file Suspicious Activity Reports (SARs). These failures allegedly enabled Hamas to use the platform for financial transactions. 

Binance lawyers highlighted during the court hearing that crypto is not “inherently dangerous.” The defense then downplayed allegations that CZ had admitted to assisting terrorism in a plea agreement, arguing that the comments related to keeping US users on the platform. The lawyers added that it was not an admission of guilt in aiding terrorist activities. 

However, US District Judge John G. Koeltl appeared unconvinced by Binance’s defense. He emphasized that secondary liability for aiding and abetting terrorism is challenging to dismiss outright. 

He also noted the gravity of the position that Binance could take – one where it accepts terrorist accounts and treats them like any other user.

The lawsuit accuses Binance of enabling the transfer of funds to Hamas, despite being aware of the group’s activities on the platform. 

“Binance was told, Hamas is on your platform. They didn’t seize their funds, they helped them leave and told them they were flagged, facilitating,” the lawyer for the plaintiffs said.

Judge Koeltl indicated that he would rule on the motion to dismiss at a later date, leaving the case in legal limbo for now.

Nevertheless, it appears Binance’s legal troubles are never-ending. A Spanish court recently opened an investigation into Binance for alleged misappropriation of funds in 2021. Moreover, French authorities have also launched an investigation into Binance. The exchange is accused of money laundering, tax fraud, and drug trafficking.

PEPE bulls are setting their sights on a breakout, but the $0.00001313 resistance level stands as a major obstacle. After a promising recovery attempt and momentum building, buyers must prove their strength to push the price higher. 

This key level has already acted as a barrier, and another rejection could shift control back to the bears, potentially triggering a fresh downturn. With upside pressure building, a decisive move above $0.00001313 is set to renew bullish dominance, fueling optimism for further gains. 

However, failure to break through might lead to increased selling pressure, putting PEPE at risk of a pullback. As the battle between buyers and sellers intensifies, the coming sessions could be decisive in shaping PEPE’s next big move. 

Can Bulls Overcome $0.00001313? Analyzing PEPE Price Action

After rebounding strongly from the $0.00001152 support level, PEPE has demonstrated a positive move, surging towards the critical $0.00001313 resistance. This recent price action reflects a solid recovery, with buyers taking charge and driving the price upward despite earlier challenges. 

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The push toward $0.00001313 is significant, as it marks a major resistance level where the bulls need to enact strength in order to sustain the momentum. Significantly, this move shows that PEPE is attempting to regain its bullish trend, but breaking through the $0.00001313 resistance is crucial.

Additionally, the Relative Strength Index (RSI) reinforces the idea that the meme coin is gaining strength. Recently, the RSI has moved out of the oversold zone, indicating that the intense selling pressure has begun to subside. As it progresses toward the 50% threshold, it suggests a shift toward a more balanced market where buyers are starting to take control.

The 50% level is often seen as a critical point in technical analysis, marking the line between a neutral and a bullish trend. PEPE’s movement toward this level implies it might be on the verge of entering a bullish phase, where extended upward momentum is possible. 

If the RSI breaks above 50%, it will further validate the strength of the recovery, allowing bulls to regain confidence. However, if the RSI stalls or dips back below 50%, it may imply that the momentum is not yet strong enough to sustain a breakout.

Positive Vs. Negative Pressure

At the critical $0.00001313 resistance level, PEPE is at a crossroads between bullish momentum and bearish pressure. Bulls have pushed the price higher, but this key resistance has proven difficult to overcome. 

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Should the bulls breakthrough, it could signal the start of a new rally, causing the asset to challenge the $0.00001731 resistance level. Nonetheless, if bearish pressure prevails, PEPE may face a pullback toward the previous support of $0.00001152. The outcome of this battle will determine whether the meme coin can continue its recovery or if the bears will regain control.

Featured image from Shutterstock, chart from Tradingview.com

XRP has remained in a consolidation phase for the past two weeks, preventing it from establishing a new all-time high (ATH). 

While the altcoin continues to hold above a key support level, it struggles to gain the necessary momentum for a breakout. A shift in investor behavior could change this trajectory.  

XRP Investors Are Facing Losses

XRP’s transaction volume has been largely dominated by losses. As a new ATH remains elusive, investors have begun moving their holdings. This trend has resulted in many XRP holders facing losses on their transactions for the past two weeks, impacting overall market confidence.  

If this pattern continues, traders may begin pulling back from participation, reducing transaction activity. A decline in on-chain engagement could negatively affect XRP’s price, increasing the risk of extended consolidation or a potential drop below key support levels.  

The MVRV Long/Short Difference indicates that long-term holders (LTHs) remain in profit, benefiting from XRP’s recent price action. These investors have yet to move toward selling, demonstrating resilience despite short-term volatility. Their continued holding is critical to maintaining stability.  

If LTHs maintain their positions, XRP’s price is less likely to experience a sharp correction. This behavior signals confidence in the asset’s long-term potential. It also suggests that XRP could sustain its uptrend if market conditions remain favorable.  

XRP Price Prediction: Uptrend To a New High

XRP is currently experiencing a micro uptrend after bouncing off the $2.95 support level. While the altcoin briefly fell below this level during an intraday low, it quickly recovered and remained above the trend line. This reinforced the bullish momentum.  

The cryptocurrency now sits less than 10% away from forming a new ATH beyond $3.40. If the uptrend continues and long-term holders remain steadfast, XRP could break past this resistance and set a new price record in the coming days.  

However, if XRP retests $2.95 and fails to hold this support, the price could decline further. A break below this level would increase bearish pressure. This could potentially push XRP down to $2.73 or lower, invalidating the bullish thesis.