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Former SEC Denies Settlement, Predicts Final Judgment

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Ripple XRP Case News: The long-running case between Ripple and the US Securities and Exchange Commission (SEC) saw major buzz amid settlement speculation.

XRP price also hit a high of $0.63 last week due to high expectations on settlement and XRP ETF amid various positive developments. XRP especially saw massive trading volumes from Asian crypto markets including South Korea.

Former SEC Lawyer Says Final Ruling In Weeks

The XRP army awaits final judgment in the remedies phase by Judge Torres. However, settlement speculations were suddenly stirred up due to the U.S. SEC’s closed-door meeting, Ripple’s 150 million XRP move, CEO Brad Garlinhouse’s recent comments on settlement prospects.

Former SEC securities lawyer Marc Fagel said there’s no evidence of a settlement between Ripple and SEC. He also explained that approval of the settlement would likely not be considered at a closed meeting, especially at this point in the Ripple XRP case.

“If the enforcement staff had negotiated a settlement with Ripple, they would have notified the court to prevent the issuance of the remedies ruling while awaiting SEC approval,” he added.

Commenting on the final judgment in remedies phase, Fagel asserts it will happen in the weeks ahead. He also believes Judge Torres will issue a final verdict regarding remedies, with a decision by Judge Netburn on the remaining motions unlikely.

Other lawyers including Bill Morgan and Fred Rispoli have already commented on their expectations of a final judgment on penalties by the end of July or early August. Morgan also dispelled settlement speculation over the upcoming SEC meeting on institution and settlement of administrative proceedings.

Also Read: Ripple CTO David Schwartz Bets on Joe Biden’s Replacement for Crypto Vote

Price Action Amid Ripple XRP Case News

XRP price pared some gains after an over 25% rally last week. The price jumped 4% in the last 24 hours, currently trading at $0.60. Moreover, the trading volume has increased by 42%, indicating a rise in interest among traders.

In the derivatives market, options traders are making more call bets and futures open interests continue to rise. Options traders bet for as high as $0.70, while total XRP futures OI jumped nearly 6% to $816.33 million. Buying activity is seen across all crypto exchanges, with BitMEX leading with a 17% increase in open interest in 24 hours.

XRP futuresXRP futures
Source: CoinGlass

According to an XRP price analysis, a breakout above $0.65 resistance would catapult it to $0.75. The crypto asset is trading above the 50-day and 200-day SMA, with more upside expected due to amid events including spot Ethereum ETF launch and Bitcoin Conference.

Also Read: Shytoshi Kusama Spotlights Shiba Inu’s TREAT Token Blunder

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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.

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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Altcoin Season Still In Sight Even As Ethereum Struggles To Gain Upward Momentum

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Over time, Ethereum, the second-largest crypto asset and largest altcoin, has often spearheaded an Altcoin Season due to its significant performance after the market shifts from a Bitcoin season to an altcoin season in each bull market cycle. In spite of this waning performance of the king of alts, an altcoin season is still likely to occur in the near term.

Is An Altcoin Season On The Horizon?

With the heightened volatility and BTC’s robust market dominance, the possibility of an Altcoin Season happening in this cycle is looking slim. However, an on-chain expert and the CEO of Alphractal Joao Wedson believes that this sustained Bitcoin’s dominance could be laying the groundwork for a huge altseason in the foreseeable future. Historically, altcoin seasons have followed periods of Bitcoin dominance. 

Joao Wedson highlighted that Ethereum’s waning performance has strangled other alts in the ongoing market cycle, but an altcoin season “is just a matter of time.” With the alt market struggling to gain dominance and ETH facing headwinds, traders hope for a shift that might spur renewed gains across the altcoin sector.

In the X post, Wedson delved into altcoin market dominance with Ethereum, revealing an interesting trend. According to the expert, altcoin dominance is declining, while altcoin dominance excluding Ethereum and Stablecoins has remained sideways and in a neutral zone since late 2022.

Alts
Alts dominance weakens | Source: Joao Wedson on X

This development implies that Bitcoin has drained most of Ethereum’s market capitalization. Presently, Bitcoin’s dominance has increased to 62%, and BTC and Stablecoin’s dominance has risen to nearly 71%. Meanwhile, Ethereum and all other alts dominate only 29% of the general market.

Bitcoin and Stablecoin‘s market dominance may seem like a threat to the upcoming altcoin season. However, the interesting part is that the higher the BTC and Stablecoin dominance rise, the more robust the next altcoin season will be, which Wedson claims is only a matter of time away.

BTC And Stablecoins Stealing The Spotlight

Daan Crypto Trades, a technical expert and trader, has also shared insights on the subject, highlighting that the altcoin market cap has declined sharply, leading to a drop in altcoins’ dominance. Although it was on track for a while, the steady growth of Bitcoin and Stablecoins has put the alt dominance under serious pressure within the crypto market.

Given the dilution amongst them, individual alts have performed horribly. Thus, for altcoins to regain dominance over Bitcoin, Stablecoins, and other major assets, the ETH/BTC pair needs to gather some momentum first.

Daan Crypto Trades claims Ethereum often plays a massive role in getting a wider altcoin performance. This is because many liquidity pools are denominated in ETH, and most coins are developed on it. Therefore, for altcoins to run, this wealth effect for ETH and majors is essential. 

Until this is the case, the analyst urges investors not to get into the market. Even though alt rallies are usually brief, there is frequently a high timeframe retest. Once it is evident that the trend is changing, Daan Crypto Trades believes this is the ideal time to get involved in the action.

Altcoin
Alts market cap at $979.28 billion | Source: TOTAL2 on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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John Squire Says XRP Could Spark A Wave of Early Retirements

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Renowned social media influencer John Squire has recently sent shockwaves across the broader crypto industry by saying, “XRP rise will trigger countless early retirements.” On Thursday, April 03, the influencer shared an X post conveying that Ripple investors could make enough earnings for early retirements, signaling that a bull run awaits. Crypto market traders and investors are left wondering if a price rally is really possible amid recent favorable advancements.

Particularly in the wake of a looming ETF approval and the U.S. SEC’s recent closed-door meeting that is set to offer clarity in the ongoing lawsuit, market watchers remain optimistic about Squire’s bold statements.

John Squire Bullish On XRP Price? Recent Comments Spark Speculations

John Squire’s X post reflected a highly bullish outlook about the crypto’s long-term prospects as it hinted that its investors could make enough earnings for early retirements. The statement could potentially be accurate due to a stockpile of factors impacting the coin’s market sentiment lately.

Ripple vs SEC Lawsuit: Clear Waters Ahead?

The U.S. regulator is set to conduct a closed-door meet today, with speculations mounting up around Ripple’s lawsuit’s conclusion. This meeting is expected to clear the waters around the ultimate resolution of the lawsuit after the SEC previously dropped cross-appeals.

While some believe that an imminent settlement between both the parties is ahead, others assume a final resolution could still take some time. Nevertheless, with the conclusion of today’s meeting, market watchers expect regulatory clarity about whether or not XRP is a security.

Pro-crypto endeavors across America, including Paul Atkins’ appointment as the new SEC chair, collectively signal that the lawsuit could end in favor of the American blockchain payments company. The native crypto could substantially leverage a bullish sentiment, given this happens.

ETF Odds Gain Weight

Simultaneously, the rising bets of a looming XRP ETF approval have added to bullish sentiments about the coin’s future aspects. CoinGape earlier reported that renowned market experts predicted a Ripple ETF approval would be shortly ahead.

On the other hand, Polymarket data shows that ETF approval odds in 2025 are at 75%. These broader developments collectively signal that ETF approval by U.S. regulators lies ahead.

XRP Price Overview

XRP’s price lost nearly 4% in value in the past 24 hours and closed in at $2.04. The coin hit a bottom and peak of $1.99 and $2.22, intraday. Today’s waning price action is in sync with a massive 1 billion token unlock from escrow.

Whale Alert’s data on X revealed that the American blockchain company unlocked 1 billion coins, worth nearly $2 billion, from escrow recently. This unlock comes as a part of the firm’s strategic monthly releases that raise the asset’s market supply. As a result, the price today takes a hit, abiding by the law of supply and demand. CoinGape previously reported that Ripple also moved another 1 billion coins in light of its escrow endeavors.

Nevertheless, despite waning action and the massive token unlock, market sentiments about future movements are brimming with optimism amid recent developments.

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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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Movimiento millonario de Solana, SOLX es la mejor opción

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El ecosistema de Solana está en alerta tras el reciente movimiento de 27 millones de SOL en un nivel crítico del mercado, lo que ha generado presión de venta y preocupación entre los inversores. Este movimiento masivo ha reavivado el debate sobre la volatilidad y la estabilidad de la blockchain, especialmente en un momento en el que los proyectos emergentes buscan consolidarse como alternativas viables dentro del sector cripto.

En medio de esta incertidumbre, Solaxy, un innovador proyecto basado en la tecnología de Solana, está captando la atención de inversores que buscan una opción más estable y con un enfoque de crecimiento a largo plazo.

Su preventa en curso se perfila como una de las más prometedoras del año, ofreciendo una oportunidad única para quienes desean sumarse a un ecosistema de alta velocidad y bajas comisiones, sin verse afectados por la reciente volatilidad de SOL.

El impacto del movimiento de 27millones de SOL en el mercado

El reciente desplazamiento de 27 millones de tokens SOL ha generado preocupaciones entre los traders y analistas ante la caída del mercado. Estas transacciones suelen estar asociadas con actividades de venta masiva por parte de grandes inversores o entidades que poseen una cantidad significativa de tokens, también conocidos como “ballenas”.

Históricamente, movimientos de esta magnitud han provocado caídas en el precio de SOL debido al aumento en la presión vendedora. La incertidumbre sobre la intención detrás de estos movimientos ha llevado a algunos inversores a buscar alternativas dentro del ecosistema blockchain.

Solaxy: La alternativa a la volatilidad de SOL

En este contexto, Solaxy ha emergido como una opción segura con un modelo de crecimiento sostenible. Diseñado para aprovechar la infraestructura rápida y escalable de Solana, Solaxy ofrece soluciones innovadoras dentro del sector de las finanzas descentralizadas (DeFi), permitiendo transacciones eficientes y accesibles para todos los usuarios.

Uno de los principales atractivos de Solaxy es su compromiso con la estabilidad del ecosistema. A diferencia de otros proyectos que dependen exclusivamente de la valoración de un token volátil, Solaxy está diseñado para ofrecer recompensas consistentes a sus inversores a través de su sistema de staking y generación de ingresos pasivos.

Además, su preventa en curso ya roza los 30 millones de recaudación, y ha sido recibida con entusiasmo por la comunidad cripto, atrayendo tanto a inversores experimentados como a nuevos participantes en el mercado. Los analistas destacan que el modelo de preventa de Solaxy permite beneficiarse de precios iniciales bajos, ya que hablamos de una criptomoneda con potencial de crecimiento significativo a medida que el proyecto gane adopción en el mercado.

¿Por qué los inversores están apostando por Solaxy?

  1. Innovación en DeFi: Solaxy está construyendo un ecosistema financiero descentralizado que permite a los usuarios realizar transacciones rápidas y seguras con comisiones ultra bajas, aprovechando al máximo la tecnología de Solana.
  2. Modelo de recompensas atractivo: A diferencia de otras criptomonedas, Solaxy ofrece recompensas pasivas a los holders a través de staking y mecanismos de liquidez.
  3. Preventa con alto potencial: Los primeros inversores en Solaxy pueden acceder a su token a precios significativamente bajos antes de su lanzamiento oficial en los exchanges, con la posibilidad de obtener altas rentabilidades.
  4. Resistencia a la volatilidad: Mientras que el mercado de SOL enfrenta incertidumbre, Solaxy está diseñado para proporcionar estabilidad a sus inversores, diversificando sus fuentes de ingresos y reduciendo el impacto de grandes movimientos especulativos.

El futuro de Solaxy y su impacto en el mercado cripto

La industria blockchain está evolucionando rápidamente, y los inversores están buscando proyectos que ofrezcan una combinación de innovación y seguridad. Con su enfoque en la estabilidad, bajas comisiones y alto rendimiento, Solaxy se posiciona como una de los mejores proyectos de criptomonedas dentro del ecosistema Solana.

solaxy es la mejor alternativa a solana

Si bien el movimiento de 27 millones de SOL ha generado incertidumbre en el mercado, también ha abierto una puerta para nuevas oportunidades de inversión. Para aquellos que buscan un proyecto con fundamentos sólidos y un equipo comprometido con el crecimiento a largo plazo, Solaxy representa una alternativa que podría superar las expectativas en los próximos meses.

SOLX es la mejor alternativa 

El mercado de las criptomonedas sigue siendo volátil, y eventos como el reciente desplazamiento de 27 millones de SOL demuestran la importancia de elegir inversiones con un enfoque estratégico. En este contexto, Solaxy se ha consolidado como una opción viable y confiable, captando la atención de inversores que buscan estabilidad y crecimiento.

Con su modelo innovador y su atractiva preventa, Solaxy no solo está desafiando la volatilidad del mercado de SOL, sino que también se está posicionando como una de las criptomonedas con mayor potencial de crecimiento en el ecosistema blockchain.

Para aquellos interesados en participar en la preventa y asegurar su posición en un proyecto con alto potencial, el momento de actuar es ahora. La revolución de Solaxy está comenzando.

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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