Altcoin
Ripple CEO Garlinghouse’s Big Take On SEC Lawsuit, XRP ETF, & Trump’s Checklist
Ripple CEO Brad Garlinghouse talks about what Donald Trump’s re-election means for the crypto industry, the Securities and Exchange Commission (SEC) lawsuit end, and the potential launch of XRP ETF. Garlinghouse weighs on the crypto checklist to Trump, with clear regulation for the crypto industry as the major agenda.
Ripple CEO Insights on Donald Trump Re-Election
In an interview with BBC on November 8, Ripple CEO Brad Garlinghouse talks about XRP and crypto future as Donald Trump wins the US presidential election. As per a BBC video, the crypto industry is one of the biggest winners from Trump’s re-election to the White House. Amid Bitcoin hitting new all-time high, XRP saw big gains over the past few days and is trying to go mainstream with XRP ETF launch.
Brad Garlinghouse opens up about his recent post on X regarding a first 100-day crypto checklist for Donald Trump. The checklist includes firing US SEC Chair Gary Gensler and crypto regulatory clarity as he promised during election campaigns.
Ripple CEO on the US SEC Lawsuit End
Ripple CEO said the SEC Chair Gensler has waged a war against crypto, impacting the crypto industry in the country. Meanwhile, regulators in many countries such as Japan, the UK, Switzerland, and Singapore are leaning into crypto and created clear rules allowing regulated business growth and capital flow.
He added that regulators under the Biden administration were hostile towards crypto despite growth and global adoption. Moreover, he is also expecting a resolution or end of the SEC lawsuit against Ripple. Judge Analisa Torres declared that XRP in itself is not a security, but the government agency has appealed part of the ruling.
“Importantly, they are not appealing the part of the decision that says XRP is not a security. So, we feel very good about that law of the land of the United States is XRP is not a security.”
However, Brad Garlinghouse feels it is frustrating for the whole crypto industry is only Bitcoin and XRP have explicit regulatory clarity in the US. Other crypto such as Ethereum and Solana face scrutiny, criticizing the idea of litigating every single leading token.
Garlinghouse on the Need For Clear Crypto Regulations
Ripple CEO said the SEC under Gensler has taken the position that most crypto are securities. He explains with an example of owning Apple shares where investors get shareholding and ownership rights, but that doesn’t exist with crypto.
The key requirement is creating the needed clarity and rulemaking for crypto, with the SEC not having the authority the regulate crypto. The crypto is looking at potential launch of XRP ETF with the re-election of Donald Trump.
The SEC lawsuit has impacted XRP price growth. The price is currently trading at $0.553, up almost 25 in the last 24 hours and 9% this week. Experts and analysts claim XRP price can hit $2 in this bull cycle.
Varinder Singh
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.
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.
Cardano recently reached $0.657, marking its highest price since March 30 and a 138% increase from its year-to-date low. However, the cryptocurrency has since corrected, as ‘BitBoy’ Ben Armstrong recently predicted.
Ben Armstrong, known as BitBoy Crypto, has expressed skepticism about Cardano’s performance in the next bull run. He cited several reasons, including declining user engagement, lagging Total Value Locked (TVL), and a lack of institutional investment.
‘BitBoy’ Ben Armstrong Doubts Cardano’s Shine in Next Bull Run
Ben Armstrong, also known as BitBoy Crypto, has pointed out his doubts over Cardano’s performance when the next bull run occurs. He gave some reasons for his skepticism as well.
First, Cardano is losing its user battle in comparison to other Layer 1 blockchain. Besides this, Cardano is lagging in Total Value Locked, or TVL, compared to its competitors.
The second aspect is that no evidence can prove Cardano’s founder, Charles Hoskinson, has any close link to persuading former President Donald Trump. ADA also lacks significant investment by institutional investors- a factor dampening its prospects for a strong performance.
$ADA will do well during this bull run. It’s just not going to outperform the majority of coins I opted for instead
This is what I have said:
1. Losing user/tvl battle vs other L1s
2. Charles does not actually have Trumps ear – zero corroboration
3. No institutional inflow— The BitBoy (@BenArmstrongsX) November 12, 2024
This criticism is milder compared to Armstrong’s stance in July, when he strongly doubted ADA’s long-term potential. He then termed ADA a “dead” asset, one which was not appealing to venture capitalists and one that did not have institutional interest, which for him meant the death of any credible investment in it.
He said ADA might produce returns in the current bull run, but they would likely be smaller compared to other assets.
Armstrong restated this after Cardano founder Charles Hoskinson had declined to engage with him, citing Armstrong’s history of criticism toward ADA.
Cardano’s Impressive 138% Rally: What’s Driving the Surge?
Cardano recently touched $0.657, the highest price since March 30, up 138% from its year-to-date low. The cryptocurrency had entered correction and changed hands at $0.578 at press time, down 12% from this week’s high. It also recorded $14B in transactions within 24 hours that helped boosting its price.
It works within the bigger pullback of major cryptocurrencies, which saw Bitcoin retreat from nearly $90,000 to $86,000.
Investors are taking profits to lock in gains, a common practice after significant rallies, causing the pullback. This pullback has been attributed to profit-taking, which is common when investors want to lock in gains after significant rallies.
Cardano is rallying now for a few reasons. First, its founder, Charles Hoskinson, has shown that cryptocurrency could get more involved in US policy, which many have seen as a reaction to Donald Trump’s election victory. Charles Hoskinson recently confirmed plans to support the US government under Donald Trump to help shape cryptocurrency legislation. His aim is to contribute to creating clear regulatory frameworks for the digital asset sector.
The initiative seeks to address the years of uncertainty and regulatory challenges faced by the crypto industry. This move underscores Hoskinson’s intent to drive positive change for the broader adoption of digital assets.
Cardano’s DeFi TVL climbed to $350 million, a seven-month high, and could rise further with BitcoinOS integration, potentially unlocking $1.3 trillion in liquidity.
Cardano also jumped in unison with a massive spike in futures open interest, which, for the first time since March, has breached above $500 million for the third consecutive day, a sign of developing confidence among market players in the asset’s near-term potential.
Crypto Community Divided Over BitBoy’s Account Hack
Besides that, BitBoy Crypto’s account once shared a scam link, which reportedly drained the wallets of some followers. Armstrong then went to Twitter to address the issue, saying someone hacked his account and he had assured his followers it was already fixed.
He went on to warn that attacks on crypto holders and influencers would probably worsen as the bull run goes on.
However, many also feel Armstrong himself fabricated the incident, which served as a cover-up story for his compromised account.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
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.
The Dogecoin price is racing towards its next bullish target, as an analyst projects a rise to $15 for the number one meme coin. This optimistic price forecast comes as the Dogecoin price breaks out of a legendary Bull Pennant pattern, which the analyst has indicated is a major bullish signal.
Dogecoin Price Breaks Out Of Legendary Pennant Pattern
In an X (formerly Twitter) post on November 11, crypto analyst Trader Tardigrade disclosed a significant update on the Dogecoin (DOGE) price dynamics. According to the analyst, the Dogecoin price has officially broken out of a “Legendary Bull Pennant” pattern.
The analyst shared a price chart illustrating Dogecoin’s price movements from 2019 to the present. Trader Tardigrade highlighted that Dogecoin began forming this unique triangle pattern in 2021, during a period of heightened popularity for the meme coin.
However, as the analyst points out, 2024 is set to mark a major year, as the Dogecoin price has broken out of the Bull Pennant formation, signaling a new bullish phase for the popular meme-based cryptocurrency. The Bull Pennant pattern is a technical indicator often associated with a potential uptrend, and according to the crypto analyst, Dogecoin may be on the verge of a massive price rally to $15.
While this price target may sound overly ambitious to some investors, it’s important to note that in just one month, Dogecoin has increased by 260.94% and is still on the rise. Today, Dogecoin skyrocketed by 44.69%, and its market capitalization is stirring closer to the $60 billion mark.
Dogecoin’s recent break out of the Bull Pennant formation could be attributed to a confluence of bullish factors that have been driving its price upwards for the past few weeks. The shift in market sentiment fueled by SpaceX CEO Elon Musk’s D.O.G.E proposal and the 47th US President, Donald Trump, backing Musk has propelled the Dogecoin price to new highs. The popular meme coin is now achieving gains not seen since its last bull run four years ago.
If these bullish factors continue to drive Dogecoin, and the meme coin maintains its momentum, its price could be making new ATHs this cycle. As of writing, the Dogecoin price is trading at $0.4, jumping more than 2X its initial value earlier this month.
DOGE To Be The Biggest Gainer This Cycle
Given its massive momentum since Trump won the US Presidential elections, crypto analyst Jeremey has declared that Dogecoin is poised to be the greatest runner in this bull run. With the crypto bull run officially starting, Dogecoin has been one of the top gainers, following Bitcoin (BTC), which has risen to multiple massive all-time highs and is currently inching closer to the $90,000 mark.
Jeremy suggested that Dogecoin could reach the $1 mark under certain conditions. He mentioned that if Musk publicly claims a co-founding status of Dogecoin and if both the SpaceX CEO and Trump integrate Dogecoin into the US economy, the price of the meme coin could experience unprecedented growth.
Featured image created with Dall.E, chart from Tradingview.com
The XRP price has risen over 13% in the last 24 hours and has reached a $40 billion market cap in the process. This recent rally has led to predictions about how high the coin could rise if the XRP bull run has indeed begun.
XRP Price Could Rally To $1.28
In an X post, crypto analyst Crypto Insight predicted that the XRP price could rally to $1.28. He stated that he believes a clean break above the $0.66 level would send XRP above $1.
The crypto has touched $0.7 on the daily chart, which suggests that the price rally above $1 could soon happen. Crypto Insight raised the possibility of XRP replicating Dogecoin and Cardano’s recent run.
For context, the Dogecoin price and Cardano price have surged over 100% and 60% in the last seven days. A similar run could be massive for the XRP price, which recently lost its sixth spot in the crypto rankings to Dogecoin.
In an X post, crypto analyst Mikybull Crypto stated that an XRP god candle was imminent and told market participants to get ready. In an earlier post, the analyst had said that a massive surge was imminent for XRP, similar to the one DOGE is currently enjoying. He added that the crypto will probably rise to $2 by year-end.
Crypto analyst Dark Defender also recently stated that $1.03 was next for XRP following its recent rally. Interestingly, the analyst had not long ago said that the XRP price would flip the Ethereum price. Like Crypto Insight, he had also mentioned that the rally to $1 could easily happen once the crypto breaks above $0.66.
Price Could Reach Between $3 And $10 If This Happens
Crypto analyst Zach Humphries suggested it might be time for the XRP to shine and revealed what needs to happen for the crypto to rise between $3 and $10 in this market cycle.
The analyst stated that XRP could rise to between $3 and $5 if the crypto moves through this bull run without full clarity, with the appeal case between the US Securities and Exchange Commission (SEC). The analyst explained that this would likely happen since XRP is again listed on top crypto exchanges, allowing retail investors to invest in the crypto easily.
Meanwhile, Humphries predicts that XRP could witness a parabolic run to between $8 and $10 if the lawsuit ends and the SEC approves the pending XRP ETF applications. The analyst also cited other factors, such as the RLUSD stablecoin, which provides a bullish outlook for the crypto.
Humphries is, however, confident that his base scenario of $3 for XRP will happen. He said this would happen since the crypto rose to $2 in the 2021 bull amid uncertainty thanks to the Ripple SEC lawsuit.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
Binance CMO Rachel Conlan on Pushing Crypto into Mainstream
Cardano Unlikely To Outperform Other Major Coins, Ben Armstrong Explains Why
Will Bitcoin’s Price Rally Past $90K?
Cardano Founder Teases Potential Partnership With Ripple
Dogecoin Price Breaks Legendary Pennant Pattern, Here’s The Next Target
Dogecoin Price On The Move With $0.4484 Breakout in Bulls’ Crosshairs
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Coinbase cbBTC Set to go Live on Solana
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Coinbase cbBTC Set to go Live on Solana
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
-
Regulation24 hours agoXRP Lawyer Reveals Why Ripple Unlikely To Promote XRP Like Bitcoin
-
Market23 hours agoWill Shiba Inu Price Rally Past the $0.000028 Barrier?
-
Market21 hours agoIs The $100K Dream Closer Than Ever?
-
Market20 hours agoBhutan Holds $1 Billion in Bitcoin Amid Growing State Adoption
-
Bitcoin19 hours agoPeter Schiff Skeptic About Bitcoin, Quashes BTC Reserve Plans
-
Market19 hours agoEthereum Price Moves Up, Yet Lags Behind Bitcoin’s Momentum
-
Altcoin19 hours agoSpot Ethereum ETFs See Record Daily Inflows As ETH Price Shoots to $3,400
-
Market18 hours agoNamechain by ENS Labs Boosts Ethereum Accessibility
✓ Share: