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Parties File Administrative Motions Ahead Judge Order

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7 months ago

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XRP Lawsuit: In the latest development in the Ripple class action lawsuit, parties have filed administrative motion to file under seal. The court set deadlines for motions and hearings in July after a recent order by a district court judge, with a deadline to file the narrowed motion to seal was set for Monday.

Ripple has urged the court to consider Judge Torres’ summary judgment as ‘programmatic buyer’ reasoning applies with equal force to this case.

Minor Update to In re Ripple Labs Inc Litigation

In the latest filings with the court late July 8, parties filed Administrative Motion to File Under Seal, Administrative Motion per Civil Local Rule 7-11, and attachments to an Administrative Motion to File Under Seal.

Judge Phyllis Hamilton earlier directed the parties to reconsider their sealing motions as the court denied the sealing of any portions of the parties’ briefs. Judge Hamilton granted an order in response to a joint request by Brad Garlinghouse, Ripple Labs, and XRP II to seal certain exhibits.

As CoinGape reported, Judge Phyllis Hamilton in this Ripple XRP lawsuit set a July 8 deadline to file the narrowed motion to seal. The court will further issue a separate order on the narrowed motion to seal by the parties. The case was also referred to Magistrate Judge Robert Illman for settlement conference. The parties also expected to file a notice indicating whether they continue to seek the exclusion of four experts’ testimony by July 26.

Ripple won most of the arguments in the summary judgment as plaintiffs failed to prove that XRP is a security and investors rely on Ripple’s efforts for profits.

Also Read: XRP Battles Turbulence Amid 237M XRP Whale Transfers, $1 Still

XRP Price Eyes Recovery

Pro-crypto lawyer Fred Rispoli estimated Friday, July 12 or late July as the potential deadline for order in the remedies phase. Whales are accumulating XRP ahead of Judge Torres’ final judgment over penalties.

XRP price continues to trade near $0.43 in a move to surpass the key level of $0.45. The 24-hour low and high are $0.422 and $0.4421, respectively. Furthermore, the trading volume has decreased slightly in the last 24 hours.

XRPXRP
XRP Price In 1-Hr Timeframe

The pressure continues to remain on XRP as derivatives traders are not interested right now as technical chart look weak. In lower time frame, XRP price must rebound above descending trending to continue moving towards the psychological level at $0.45. The price is currently below 200-SMA at $0.44 and above 100-SMA at $0.43.

Also Read: Spot Bitcoin ETFs Inflow At 3-Week High, Institutions Buying Heavily Ahead Key Events

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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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World Liberty Financial Purchases 14,403 Ethereum, ETH Price Rally Ahead?

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14 minutes ago

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January 22, 2025

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Donald Trump’s decentralized finance (DeFi) project World Liberty Financial has purchased a massive 14,403 Ethereum in the last 24 hours, cementing further confidence in the altcoin. The project made a fresh investment of $16 million in buying these coins and is already sitting on profit as the ETH price surged 5% to $3,4000.

World Liberty Financial Stashes More Ethereum

Trump’s World Liberty Financial (WLFI) has continued to accumulate Ethereum, spending a total of 48 million USDC to acquire 14,403 ETH at a price of $3,333 in the past 12 hours, as per data from Arkham Intelligence.

Source: Arkham Intelligence

The organization now holds 40,765K ETH, valued at approximately $138.5 million. Additionally, World Liberty has a significant amount of ETH stored on Coinbase, which they recently deposited.

This recent accumulation puts behind the doubts that the Donald TrumpDeFi Project was offloading its ETH. As World Liberty Financial clarified, it was just part of routine transfers to new wallets and not part of their selling.

More Ethereum Purchases Coming?

On the other hand, Eric Trump, the executive vice president of the Trump organization has hinted that there’s more to come ahead.

Commenting on the recent development around the TRUMP meme coin launch as well as the MELANIA meme coin launch, Donald Trump Jr. wrote:

“We are all extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth and I truly believe that World Liberty Financial will revolutionize DeFi/Cefi and will be the future of finance. We are just getting started!”

ETH Price Surge to $4,000 Begins

Looking past last week’s underperformance, Ethereum bulls have charged in once again! In the last 24 hours, the ETH price has surged 5.11% moving past $3,400 levels with daily trading volumes jumping 117% to $68 billion. In the last 24 hours, the total ETH liquidations have shot up to $209 million as per the Coinglass data.

Popular crypto analyst CrediBULL crypto stated that ETH has bounced back from the strong support levels of $3,100 and is on the way to its immediate target of $4,000.

Source: CrediBULL Crypto

Popular analyst Ali Martinez highlights that during every bullish cycle, Ethereum (ETH) has traded above the 3.2 MVRV Pricing Band, a level that currently stands at $7,000.

World Liberty Financial (WLFI) Token Sale

World Liberty Financial, has successfully completed the pre-sale of its token and is now offering more at a 230% markup due to overwhelming demand. Launched in September, the platform initially planned to sell 20% of its total 100 billion. However, the project is now offering an additional 5 billion for sale at 5 cents each. The official announcement from the project notes:

“We’ve completed our mission and sold 20% of our token supply! Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply”.

Tron founder Justin Sun took this opportunity with TRON DAO boosting its investment in World Liberty Financial by adding an additional $45 million. With this new injection, TRON DAO’s total investments in the DeFi venture now reach $75 million.

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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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Coinbase CEO Reveals Plan To Offer ‘Tier-1 Support’ For Solana Alike BTC & Ether

Published

1 hour ago

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January 22, 2025

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In an effort to uplift market sentiment, Coinbase CEO recently announced plans to offer ‘tier 1 support’ to Solana following transaction glitches on the crypto trading platform. Notably, the exchange’s CEO, Brian Armstrong, revealed that the transaction glitch on the network was fixed. Further, efforts to prevent such issues ahead were also underway.

As a result, the crypto exchange giant now eyes increased support for the network, mirroring the same level offered to Bitcoin and Ether.

Coinbase CEO Reveals Tier 1 Support Underway

In an X post by Brian Armstrong dated January 22, the Coinbase CEO revealed that the crypto exchange is aiming to provide “tier 1 support for Solana, with the same level of support as Bitcoin, Ethereum, and Base.” This statement indicated that after recent withdrawal issues faced by users on the crypto exchange, efforts to prevent such events in the future were in the pipeline.

Notably, Armstrong stated, “It’s clear we need to step up our game on Solana, scale our infrastructure, and provide native support for common use cases like DEX/memecoin trading.” Although, the CEO’s statements underscored that although the crypto trading platform is currently unable to tackle the surge in activity, a positive outlook for users lies ahead.

SOL Transaction Glitch Fixed: Coinbase CEO

Meanwhile, the Coinbase CEO has also revealed that the exchange has “the Solana backlog triaged, and transactions should generate quickly again.” This statement comes against the backdrop of a SOL withdrawal halt, wherein leading crypto exchanges Coinbase and Binance halted withdrawals for the crypto amid high withdrawal volumes.

In turn, some traders remain unhappy due to the loss incurred amid the network glitch, whilst others look to withdraw funds as the issue is fixed amid a broader crypto market recovery.

SOL Price Surges Over 7%

As of press time, SOL price pumped nearly 7.5% intraday and is sitting at $257.48. The coin’s 24-hour low and high were $236.36 and $259.83, respectively. Intriguingly, the crypto’s rising trajectory in tandem with the transaction trouble fix, as revealed by the Coinbase CEO, has ignited significant investor enthusiasm. Moreover, the current pump also mirrors the broader crypto market trend, as mentioned above.

Also, it’s worth mentioning that the Solana network saw a huge surge in activity amid the meme coins TRUMP and MELANIA’s recent launch, a potential reason why withdrawal volumes on Coinbase surged. In light of this activity surge, a recent SOL price analysis by CoinGape revealed that the token may experience significant growth ahead. In turn, crypto market watchers continue to eye the token with bullish long-term prospects amid recent developments.

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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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Tron Founder Justin Sun Reveals Plan To Push Ethereum To $10K

Published

2 hours ago

on

January 22, 2025

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Tron founder Justin Sun has laid out an ambitious plan to drive Ethereum (ETH) price towards a $10,000 price point. Sun’s proposal includes halting ETH sales, taxing Layer 2 solutions, and focusing on Layer 1 development. These bold steps are designed to strengthen the token position in the crypto market and ensure long-term growth.

Sun’s strategy aims to not only optimize ETH supply but also create a deflationary system to build market confidence and attract further investments. His plan comes as the token market dynamics continue to evolve.

Justin Sun’s Bold Plan to Boost ETH Price

On January 22, Justin Sun shared his plan on X to push Ethereum price to $10,000. The Tron founder proposes ceasing Ethereum Foundation (EF) sales of ETH for the next three years. By halting the sale, Sun believes supply will remain stable, supporting a deflationary market model.

Additionally, Sun plans to leverage AAVE lending, staking yields, and stablecoin borrowing to cover operational costs, ensuring long-term sustainability. His vision includes restructuring the ecosystem and creating a more efficient system to fuel ETH’s price growth.

Justin Sun’s Vision for Ethereum and Layer 2 Solutions

Justin Sun has been vocal about his plan and making waves within the crypto community. He also expressed admiration for newly elected US President Donald Trump, highlighting the potential for crypto-friendly policies. Sun’s proposed tax on Layer 2 solutions is a key strategy, aiming to generate at least $5 billion annually.

All collected taxes will be used to repurchase and burn ETH, helping to drive the token’s deflationary nature. Tron founder plans to focus on bolstering Ethereum’s core development, ensuring its long-term scalability, and reinforcing its value proposition.

ETH Price Context and Market Update

Ethereum price has remained steady, trading within a range of $3,265 to $3,366 in the past 24 hours. Its 24-hour trading volume was $26 billion, reflecting a slump of 36%. Notably, Ether Futures Open Interest stayed near the flatline today.

However, despite the fluctuation, ETH remains a focal point for large investors. Recent Coingape reports indicate that whales have accumulated over $1 billion in ETH over the past few days.

Adding to the market dynamics, Tron founder Justin Sun has deposited a total of 227,000 ETH to the crypto exchange HTX over the past few months. This move by Sun, in conjunction with his ambitious plans for Ethereum, could further influence ETH’s price trajectory.

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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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