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“Ripple Case Over” Says Stuart Alderoty; Will XRP Price Hit $4?

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5 months ago

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The Ripple case remains one of the hottest topics in crypto town as well as the closely watched legal battle with the U.S. Securities and Exchange Commission (SEC). Now, with the conclusion of the lawsuit last month, a flurry of experts anticipates a potential rally in XRP price, with predictions aiming for a $4 milestone. Besides, CLO Stuart Alderoty also highlighted that the lawsuit “is over”, which has sparked optimism in the market.

Federal judges are considering the Ripple lawsuit and Torres Doctrine for decisions and proceedings in crypto-related lawsuits. While Ripple has to pay $125 million in penalty as per the court order, but case is a major win for the company.

Ripple CLO Stuart Alderoty Says Case Is Over

The Ripple case conclusion has caught the eyes of investors, with the blockchain firm’s latest court win has sparked market optimism. Last month, Judge Analisa Torres significantly reduced the penalty for the firm, slashing it from the US SEC’s initial demand of $2 billion to just $125 million.

This cut of more than 90% from the initial claim is lauded by many and is seen as a victory for the blockchain company. Besides, legal experts, including Ripple’s Chief Legal Officer (CLO) Stuart Alderoty, have emphasized that the XRP lawsuit is officially “over”.

Stuart Alderoty Ripple Case OverStuart Alderoty Ripple Case Over
Source: Stuart Alderoty, X

Previously, Stuart Alderoty pointed out that while the US SEC may still deliberate on an appeal, the firm is not planning to initiate one. In addition, if the SEC appeals and loses one, it could set a binding precedent for other crypto-related cases, discouraging further legal action.

Simultaneously, CEO Brad Garlinghouse also cheered on the regulatory clarity that XRP gained post-lawsuit. This legal win has led to increased acceptance of the crypto, not just in the U.S., but on a global scale.

Will XRP Price Reach $4?

With the Ripple case coming to an end, the market appeal of its native crypto also appears to be rising. Besides, several other positive developments have fueled bullish speculation around the crypto, driving discussions about whether the crypto could reach $4.

For instance, Ripple’s partnerships with major banks globally reflect its growing influence. On the other hand, its underlying technology, the XRPL, has also attracted investors’ attention lately, with a flurry of major developments recently.

In addition, the launch of the Grayscale XRP Trust and the CME XRP Index have also provided momentum for the crypto’s price action. These moves point toward a potential integration of the crypto into mainstream financial systems, further solidifying its position.

Meanwhile, these latest launches also sparked speculation around a possible ETF launch for the crypto, which the market has been anticipating for a long. However, experts like Nate Geraci suggest that regulatory hurdles could result in an XRP ETF delay for a year or more.

However, despite that, many market watchers believe that factors like legal clarity, expanding partnerships, and increasing institutional adoption, could lead to a significant price rally. A recent XRP price analysis predicts potential of crypto to hit $4, setting a new all-time high (ATH), given the recent developments and historical trends.

As of writing, XRP price fell 3%, with the price currently at $0.5716. Over the last seven days, the crypto has added nearly 11%. Furthermore, CoinGlass data showed that the crypto’s futures open interest dropped 8% to nearly $600 million, indicating the positive momentum hovering in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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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BTC, ETH Drop As $566M Liquidated Amid Bybit Hack

Published

4 hours ago

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February 22, 2025

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Crypto market today (February 22): Bitcoin (BTC), Ethereum (ETH), and other altcoins reflect an alarmingly waning price action as the week comes to a close. Primarily against Bybit’s recent $1.4 billion hack, over $566 million was liquidated across the broader market in the last 24 hours. As a result, BTC price price lost nearly 2% and slipped back to the $96K level on Saturday. Further, ETH and other leading altcoins have also followed the waning trajectory.

Crypto Market Today: BTC, ETH & Altcoins Suffer Amid Bybit’s Hack & Massive Liquidations

Notably, the crypto exchange behemoth Bybit recently suffered an exploitation attack, resulting in the theft of $1.4 billion ETH from the platform. CoinGape reported that the mastermind behind this hack was ‘The Lazarus Group,’ a North Korean cybercriminal organization.

As a response to the hack, the crypto market saw $566.64 liquidated in the last 24 hours, per Coinglass data. The massive liquidations, underscoring panic selling, in turn brought significant heat to cryptocurrency prices. Further, the global cryptocurrency market cap slipped 1.98% from yesterday to reach $3.17 trillion.

BTC Price Backtracks To $96K

In sync with the colossal liquidations, BTC price witnessed a 2% loss in value over the past 24 hours, resting at $96,170. The flagship coin’s intraday bottom and peak were $94,852.96 and $99,497.97, respectively. Coinglass data showed that Bitcoin recorded $199.44 million worth of liquidations in the past 24 hours. Simultaneously, its market dominance slipped marginally by 0.01% to 60.29%.

ETH Price Takes Heat Amid Crypto Market’s New Hack

ETH price tanked nearly 3% in the past 24 hours and is currently trading at $2,674. The coin’s 24-hour low and high were $2,616.92 and $2,842.83, respectively. Ethereum recorded liquidations worth $141.76 million in the past 24 hours. Meanwhile, market watchers remain cautious about the coin’s future movements in light of the massive Bybit hack. Given that the hackers decide to sell the stolen funds ahead, heightened selling pressure could pull the price further down.

XRP Price Cracks 3%

XRP price fell by 3% intraday and is now sitting at $2.57. The coin hit a bottom and peak of $2.51 and $2.71 in the last 24 hours. Notably, the Ripple-backed asset saw liquidations worth $14.95 million over the past day and followed the broader market trend to dip in the red zone.

SOL Price Slips 2%

SOL price saw a 2% decline in the past 24 hours and is now trading at $170. The coin swooped to a low of $167.31 and a high of $180.43 in the last 24 hours. Solana recorded liquidations worth $22.24 million intraday, aligning with the market trend.

Meme Crypto Market Also Tumbles

Dogecoin: DOGE price saw a 4% drop to $0.2417 amid $14.03 million liquidated in the Dogecoin market.

Shiba Inu: SHIB price waned by 2% in the past 24 hours and is currently trading at $0.00001516, mirroring the market trend.

Even Pepe Coin (PEPE) and Official Trump (TRUMP) prices cracked 2%-5%, reaching $0.000009188 and $16.08, respectively. The meme coin market has primarily mirrored the broader market trend as the week comes to a close.

Top Crypto Market Gainers Today

Ethena (ENA)

Price: $0.4544
24-Hour Gains: +11%

ENA price soared as the crypto project reassured users that its stablecoin USDe remains solvent despite the recent Bybit hack.

Bitget Token (BGB)

Price: $5.05
24-Hour Gains: +8%

Bitget’s BGB token soars amid its rival exchange’s hack saga, and the Bitget wallet launching a limited-time BGB on-chain staking program.

Jito (JTO)

Price: $2.84
24-Hour Gains: +5%

JTO price gains alongside S. Korean cryptocurrency exchange Upbit’s announcement to list the token in the KRW market.

Top Crypto Market Losers Today

Mantle (MNT)

Price: $0.883
24-Hour Loss: -15%

Berachain (BERA)

Price: $7.16
24-Hour Loss: -12%

Sonic (S)

Price: $0.8546
24-Hour Loss: -10%

Overall, the current investor sentiment remains highly uncertain surrounding the crypto sector’s future, with prices taking heat amid Bybit’s hack and massive liquidations.

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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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Analyst Identifies Key Support For Cardano Price Bullish Momentum

Published

7 hours ago

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February 22, 2025

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Crypto analyst Ali Martinez has noted key support levels for Cardano (ADA) price between $0.67 and $0.80. He emphasized their role in sustaining the current bullish trend. According to Martinez’s analysis, these levels have historically acted as both resistance and support for the altcoin. The repeated interaction with this range indicates its significance in determining ADA price direction.

Key Support Levels for Cardano Price Stability

In a post on X, Ali Martinez highlighted that Cardano price has repeatedly tested the $0.67–$0.80 range. This zone has provided stability for ADA, preventing further declines and acting as a foundation for bullish movements.

Historical price movements suggest that this support area has been critical during both uptrends and corrections. The ability of ADA to hold above this range signals strong buying interest.

Recent market data indicates that ADA remains within this support range, maintaining its position despite market fluctuations. If buying pressure persists, Cardano price could establish a stronger footing and attempt an upward breakout.

Meanwhile, Grok 3 AI highlighted Cardano’s strong decentralization as a driving force behind its potential rally to $5-$6 in this bull cycle. If Cardano price can break key resistance levels, it may gain the bullish momentum needed to reach these ambitious price targets.

Technical Indicators Suggest Growing Buying Pressure

Supporting the bullish sentiments, the 1-day Moving Average Convergence Divergence indicates Cardano price is holding above key support levels, providing a foundation for a altcoin rally.

More so, the MACD line is above the signal line, signaling a bullish crossover. If ADA maintains its position above $0.75 and builds on this momentum, it will break the $0.80 resistance and push higher in the short term.

Furthermore, there is the Parabolic Stop and Reverse (SAR) indicator whose dotted lines are placed below Cardano price, which is common in an upward trend. This suggests that ADA price has found a strong support base, further reinforcing the likelihood of an upward move.

Cardano priceCardano price
Source: TradingView

ADA Price To $1?

If Cardano price remains above the key support range of $0.67–$0.80 and manages to break above resistance levels, analysts project a potential rally toward $0.94. A successful test of this price point could pave the way for ADA to revisit the $1 mark.

Conversely, if ADA fails to sustain support above $0.67, selling pressure could increase, driving the price lower. In such a scenario, the next key support level would be around $0.54, where buyers might re-enter the market.

Moreover, another analyst shared the bullish sentiments, emphasizing that ADA price movements suggest a potential breakout. The expert highlighted that if Cardano surpasses the critical resistance at $0.9837, it could pave the way for a rally toward $1.35.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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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Will XRP Price Hit $300 If US SEC Calls Off Ripple Lawsuit?

Published

8 hours ago

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February 22, 2025

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The price of XRP lost its edge earlier when it failed to retain the $2.6 support level despite a positive update from the US Securities and Exchange Commission (SEC). Notably, the pro-crypto stance of the Mark Uyeda-led SEC has ignited a possibility of XRP benefitting uniquely. Per the current trend, investors wonder if the coin could hit a $300 price target in the long term if the US SEC drops the XRP lawsuit. 

Is Ripple versus US SEC Lawsuit Suppressing XRP Price?

In a recent update, Coinbase revealed that the SEC staff has agreed to drop its lawsuit, pending potential approval by the agency’s commissioners in the coming week. By a large margin, the Coinbase versus SEC lawsuit is considered the second biggest after Ripple Labs. 

Though similar, the Ripple lawsuit has advanced much more, with the end close as predicted. Gary Gensler fanned the lawsuit, alleging that XRP is a security when sold to the public, significantly impacting the price. 

Like Coinbase, there is speculation that the US SEC will dismiss its Ripple lawsuit appeal. If this happens, the price of XRP is expected to rise dramatically.

Is XRP Price to $300 Feasible?

In recent times, analysts have issued massive projections regarding the XRP price. As reported earlier by CoinGape, market analyst XRP Captain predicted that the XRP price could rally to $250 between now and 2026.

While analysts justify this projection based on the current trend within the Ripple ecosystem, the economics presents a different picture. With XRP having more than 57.89 billion circulating supply per CoinMarketCap data, a $300 target will give it a valuation of $17.367 trillion for the coin.

This fund is way bigger than the crypto industry, which is only worth $3.17 trillion, with Bitcoin dominating. However, this does not discount the likelihood of a massive rally if the lawsuit ends.

The XRP ETF Advantage

Meanwhile, the Ripple ecosystem has continued to expand at a unique pace. More than four asset managers are seeking approval to offer XRP ETF products to institutional investors. Canary Capital, Bitwise, and CoinShares are some of the firms pushing for this new product.

With a 65% odds of approval, the community is somewhat pricing in this product already. With the likelihood of a new capital influx, the expectation is that the XRP price will benefit immensely in the long term.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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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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