Altcoin
Pro-XRP Lawyer Enjoining Elon Musk To Integrate XRP To X Payments
In the wake of Ripple’s recent success in the lawsuit against the SEC, attorney Fred Rispoli has taken to X, urging the American entrepreneur Elon Musk to integrate XRP into X Payments. Today, the pro-Ripple lawyer ask Musk to “announce XRP will be part of the
X Payments platform.” Meanwhile, Judge Analisa Torres’ recent ruling in the Ripple vs SEC lawsuit has turned the tides in favor of the American blockchain payments company.
Fred Rispoli Urges Elon Musk For XRP Integration
In a post on X by Fred Rispoli today, August 8, the attorney stated, “Elon Musk, You have a golden opportunity right now to legally say eff you to SEC after its loss today to Ripple.” He stressed on adding Ripple’s native crypto to the X payments system, stating, “Run it through X legal, I bet Adam would agree with me.”
These statements have gained significant traction across the industry in light of the SEC’s recent setback in the Ripple lawsuit. Judge Analisa Torres negated the proposed $2 billion penalty, instead imposing a $125 million penalty on the American blockchain payments firm in her recent ruling. Furthermore, the ruling related to the motion for remedies revealed no disgorgements for Ripple.
Meanwhile, “Current sales of XRP post-Complaint do not necessarily violate federal law,” Rispoli added in a post on X. However, he also stated, “That battle is for another day (meaning a new lawsuit).”
Nonetheless, the recent ruling has drastically favored Ripple, as also seen by the native token gaining nearly 18% today. Should Elon Musk, the Tesla and SpaceX CEO, agree to Rispoli’s remark, the market sentiment for the asset could amass further optimism. However, it’s worth noting that the American entrepreneur has yet to respond to the post.
Also Read: XRP Lawsuit: Ripple Can Sell to Institutions Despite Recent SEC Ruling
Ripple’s Native Crypto Soars
At press time, XRP price noted gains worth 18.37% over the past day to rest at $0.6064. The coin’s 24-hour bottoms and tops were $0.4942 and $0.6408, respectively.
As mentioned above, the recent upside movement aligns with the lawsuit’s relief for Ripple. However, it’s also worth mentioning that the court has given 60 days to the parties to file an appeal against the ruling. Crypto market participants eagerly await the SEC’s response to this matter.
Also, Coinglass data revealed a 47.40% increase in the coin’s futures OI, accompanied by a 474.34% pump in the derivatives volume. Coupled with today’s price upswing, this data hints at a market uptrend for Ripple’s crypto.
Also Read: Metaplanet Secures 1 Billion Yen Loan to Buy Bitcoins, the Best Yen Carry Trade?
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.
Bitcoin critic Peter Schiff has revealed grim predictions for the Ethereum price, tipping the second-largest cryptocurrency to see new lows. Schiff says the broader selloff affecting Ethereum will worsen in the coming days and can push prices below $1,000
Peter Schiff Sees Ethereum Price Tumbling Below $1,000
As the market reels from the bloodbath over the weekend, Bitcoin critic Peter Schiff says darker days are coming for Ethereum. In a post on X, Schiff predicts that the Ethereum price will continue the steep correction that will see it fall under $1,000.
The Bitcoin critic is hinging his prediction on the recent jarring price drops faced by the largest altcoin in recent days. The latest correction sees ETH hold onto $1,500 after falling by 20% over the last day.
Ethereum price reached a daily low of $1,400 before gingerly picking its way above the $1,500 mark. Given the grim price action, Peter Schiff says it is only a matter of time till the Ethereum price falls under $1,000 with technicals and fundamentals painting a grim picture.
“Ether crashed below $1,500 for the first time in over two years,” said Schiff. “So far, the intraday low was just above $1,400, a 20% drop overnight. I don’t think it will be long before it breaks below $1,000.”
ETH remains stuck under $2,000 since it slipped below the psychological level back with on-chain indicators showing no signs of a resurgence.
Comparisons With Bitcoin And Gold Reveal Ethereum’s Dire Condition
While optimists may disagree with Schiff’s prediction, historical patterns point to a deeper decline in the Ethereum price. Peter Schiff argues that during the last market crash in mid-2022, Ethereum slipped below $1,000, noting that there is little evidence that the cryptocurrency will trade above the psychological level in the market downturn.
He adds that while the Ethereum price is weak in dollar terms, the asset is faring worse on ETH/BTC charts. A steady downtrend on the ETH/BTC chart confirms massive selling pressure for the Ethereum price, with gold being its “worst-looking chart.”
“It barely held $1,000 in June 2022,” said Schiff. “The chart is horrible, even worse priced in Bitcoin than dollars. Of course, its worst-looking chart is priced in gold.”
Despite the dour predictions, investors say Ethereum price can rally as high as $4,000 but will have to contend with whale selloffs and market risk-on sentiment.
Peter Schiff’s grim predictions extend to the top cryptocurrency with the economist tipping Bitcoin price to $10K. He went on to criticize claims of Bitcoin as digital gold, pointing to steep declines in the face of macroeconomic woes.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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.
A Dogecoin whale has solidified investors’ bearishness this ‘black Monday’ by dumping 300 million coins to Binance. DOGE price has lost nearly 15% value in the past 24 hours, stooping to a $0.13 low in sync with broader trends. In response, crypto market traders and investors are now reflecting a highly cautious approach toward the meme coin’s future prospects.
Dogecoin Whale Dumps 300M Coins Sparking Investor Concerns
Data from the transaction tracker Whale Alert revealed that a Dogecoin whale deposited 300 million coins worth $41.77 million to Binance on April 7. This whale selloff has made traders and investors buckle up for additional price volatility ahead. Notably, the wallet address ‘DU8gPC5mh4KxWJARQRxoESFark2jAguBr5’ was recorded making the transactions.
For context, usual market sentiments remain bearish amid such transfers as they bring potential selling pressure and increase the exchange supply for an asset. These dynamics negatively impact a coin’s price, abiding by the law of supply and demand.
What Prompted The DOGE Whale Move?
Meanwhile, it’s noteworthy that the Dogecoin whale’s selloff may be to mitigate losses amid an ongoing crypto market crash. The broader sector faces a black Monday as Bitcoin, Ether, and leading alts lose alarming values due to broader trends.
Primarily as Donald Trump’s reciprocal tariffs kicked off, global markets and risk assets are facing heat in sync. As a result, even DOGE price is facing immense pressure, aligning with the whale dump mentioned above.
Will Dogecoin Price Face Further Heat?
The current market sentiment orbiting the renowned dog-themed meme coin is highly uncertain. Crypto market traders and investors are awaiting signs that show crypto prices have digested trade war tensions. Nevertheless, the current scenario remains highly bearish.
As mentioned above, DOGE price has lost nearly 15% intraday and is resting at $0.13. In the interim, renowned crypto market analyst Berke Oktay warned that further downside risk may await traders as the token lost vital support and fell below $0.17.
However, analyst Trader Tardigrade conversely revealed a bullish projection for the meme coin. Despite the price crash and massive Dogecoin whale dump, the analyst revealed that DOGE has formed its second RSI bullish divergence. This suggests momentum is improving even though the price is falling — often a sign that a trend reversal to the upside might be near.
As a result, crypto market investors continue to reflect an uncertain sentiment and await a prominent bullish or bearish takeover in the coming days. The chances of DOGE slipping below $0.1 remain relatively low at the moment, although market concerns persist due to broader trends.
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.
Pi Network price has left investors puzzling over a steady decline that saw Pi Coin nearly sink to $0. 3. To prevent a repeat of the steep drop, the pseudonymous Satoshi Nakamoto is making a case for a decentralized market stabilization mechanism for the Pi Network.
A Community-Driven Liquidity Pool For The Pi Network
The pseudonymous Satoshi Nakamoto theorized on X that a community-driven liquidity pool (CDLP) will provide a range of benefits for Pi Network. According to his post, CDLP will operate as a decentralized market stabilization mechanism focused on Pi Coin price performance.
The plan, leaning on the Dollar-Cost Averaging (DCA) buying strategy, will require participants to commit to purchasing a fixed amount of Pi monthly. Each user participating in the CDLP will have full control of the Pi coins in their wallets without the need for any intermediaries.
Per Nakamoto, users purchasing Pi coins each month will form a “massive” CDLP capable of preventing steep price drops. The CDLP achieves this by increasing Pi liquidity, reducing circulating supply while demand continues to increase.
“This pool increases market depth, cushions sharp price drops, and promotes a more stable price structure,” said Nakamoto.
Nakamoto says the CDLP is not a short-term strategy to prop up Pi Network as it advocates for long-term holding. In the short term, Dr Altcoin wants Pi Network to burn tokens as a near-term solution to falling prices.
The Entire Ecosystem To Benefit From CDLP
Apart from stabilizing the Pi Network price, the CDLP will have an impact on the broader ecosystem. First, Nakamoto says developers building projects will have a stable environment without the hassle of sharp price drops. The Pi Network has previously come under fire after PiDAOSwap launched NFTs on BSC over lengthy KYB delays
Furthermore, a stable price will be an incentive for businesses to accept Pi as a payment mechanism. Nakamoto says Pi holders will be rewarded by future decentralized applications (DApps) building on the network.
“This doesn’t just stabilize the price – it transforms Pi’s visibility, strengthens the community, and attracts more developers and real-world use cases,” said Nakamoto.
Nakamoto says the CDLP is viable and sustainable as it does not require whales to support the price. Nakamoto claims that a $10 monthly commitment to buy Pi will result in a “steady $100 million inflow” into PI that is user-controlled without third-party risks.
Centralized exchanges like Binance sidelining Pi in listing processes have affected community sentiments, triggering a bearish sentiment for Pi.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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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