Altcoin
XRP Price to $1 As Ripple CLO Shares Great News With Community?
Ripple Chief Legal Officer (CLO) Stuart Alderoty reacted as the U.S. Securities and Exchange Commission filed appeal Form C in the U.S. SEC vs Ripple Labs lawsuit. Alderoty shared the good news with the XRP community as the government agency decided to not appeal Judge Torres’ summary judgment on XRP classification as non-security. This has made the community upbeat on XRP price hitting $1.
Here’s What US SEC Appealed In Ripple Lawsuit
The U.S. SEC filed Appeal Pre-Argument Statement (Form C) in the XRP lawsuit, with the price moving in tandem. The government agency has appealed against the following decisions by the federal judges:
- SEC has appealed the summary judgment on XRP sales through crypto exchange by Ripple
- XRP distribution to employees and others by Ripple
- XRP sales on exchanges by CEO Brad Garlinghouse and Executive Chairman Chris Larsen
“Whether the district court erroneously granted partial summary judgment in favor of defendants with respect to Ripple’s offers and sales of XRP on digital asset trading platforms (and Garlinghouse’s and Larsen’s aiding and abetting of those offers and sales), Garlinghouse’s and Larsen’s personal offers and sales of XRP, and Ripple’s distributions of XRP in exchange for consideration other than cash. These issues are to be reviewed de novo.”
Lawyer James Murphy, aka MetaLawMan, was surprised that the government agency has not appealed the ruling on disgorgement in the remedies phase. The agency is also not contesting the $125 million in penalties.
Attorney Fred Rispoli and former SEC lawyer Marc Fagel affirmed that the final judgment is included in the notice of appeal. So, the SEC can still argue it in its briefing as it seeks to first focus on some part of XRP programmatic sales. However, the community noted a decline in XRP price.
Several lawyers such as Jeremy Hogan and Bill Morgan slammed the government agency for bringing back allegations against Garlinghouse and Larsen. Also, the SEC is accused of missing the Form C filing deadline and back dating the document.
Backdating is bad. I don’t think anyone would disagree (hell, I spent several years at the SEC on backdated stock option cases). But we can speculate all sorts of things which would be bad without benefit of evidence.
— Marc Fagel (@Marc_Fagel) October 18, 2024
Ripple CLO Shares Good News With XRP Community
Notably, Ripple CLO Stuart Alderoty took to X to share the good news with the community that “XRP is not a security” is NOT being appealed. He added that XRP has gained more clarity as the “decision stands as the law of the land.”
In a challenging way, he asked the community to await Ripple’s response to the SEC filing. The company will file its Form C next week. Traders anticipate a rebound in XRP price during Ripple filing.
XRP Price to Hit $1
The SEC not appealing XRP non-security status to fuel positive sentiment in the market. XRP price can even surpass $1 amid the renewed bull market. Moreover, Ripple CEO Brad Garlinghouse said Gary Gensler’s days are over, despite the outcome of the 2024 US presidential election.
XRP price fell 1% as the community speculates on Ripple vs SEC appeal. The price is currently trading at $0.55, with a 24-hour low and high of $0.540 and $0.564, respectively. Furthermore, the trading volume has decreased by 11% in the last 24 hours. Popular analyst Egrag Crypto predicts XRP price rally to $1.5 in the short term.
In the derivatives market, XRP buying remains strong despite a slight drop in price due to Friday’s crypto expiry. Total XRP futures OI jumped over 2% in the last 4 hours to 1.40 billion worth $770 million, as per Coinglass data.
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.
Crypto exchange behemoth Binance sparked substantial optimism surrounding the zero-knowledge rollup crypto Scroll (SCR) on Friday, enhancing trade offerings for the token. The exchange revealed that it is ending pre-market listing for the asset, although additional trade offerings are to commence shortly ahead. Meanwhile, SCR price rallied over 200% to date after its pre-market listing began the previous month.
Binance Unveils New Listings For Scroll Sparking Optimism
In an official announcement dated October 18, it was revealed that the exchange is ending ‘pre-market’ trading for Scroll on October 21 at 09:00 UTC. Subsequently, the exchange will open spot trading for certain pairs starting October 22 at 08:00 UTC.
As per the Binance announcement, the new spot trading pairs that will be available for trading are SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY. Users can start depositing SCR in preparation for trading. Withdrawals for the same are set to commence on October 23 at 08:00 UTC. Further, the transfer function will resume before October 21, the announcement added. Meanwhile, the listing fee was set at 0 BNB, underscoring the crypto exchange’s efforts to back the zk rollup crypto project.
Further, the exchange also revealed that it will apply the seed tag next to SCR. This indicates that the asset offers high risk and volatility. “All Pre-Market orders will be automatically removed after trading ceases for the Pre-Market trading pair,” the exchange notified. Overall, the enhanced trade offerings for users pave a bullish path for the coin’s future price action.
SCR Price To Gain Ahead?
Although SCR price traded down nearly 5% today, resting at $1.27, market watchers anticipate further gains in the asset’s price ahead. This bullish projection is primarily attributable to Binance’s enhanced offerings. Further, the token’s intraday low and high were recorded as $1.25 and $1.39, respectively.
Besides, it’s worth mentioning that SCR price extended gains to over 200% since October 11 in light of its pre-market listing. Further enhanced offerings by the exchange pave the way for additional money inflow into the coin, painting an optimistic picture of the price ahead.
Also, it’s worth mentioning that the exchange expanded offerings for SUI & TURBO recently, further cementing its foothold as one of the leading crypto exchanges.
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.
The Solana price is down over 4% today, just two days after reaching a weekly high at around $158. This price decline is due to several factors, including a drop in Solana’s network activity between October 16 and 17. Meanwhile, the sentiment in the broader crypto market has also affected SOL, with the Bitcoin price cooling off after the rally earlier in the week.
Why The Solana Price Is Down
SOL is down over 4% today following a decline in the network activity on Solana. DeFiLlama data shows that decentralized exchange (DEX) volume on the network dropped on October 16 and 17, with $1.69 billion and $1.68 billion recorded on these days. The network recorded a weekly high DEX volume of $2.06 billion on October 14, with the Solana price rising to as high as $158 in the process.
The drop in DEX volume means fewer users interacted with the network on October 16 and 17, which explains why the coin’s price dropped. A surge in trading volume typically leads to a spike in price, while a drop in volume leads to downward pressure. The drop in Solana’s DEX volume comes just days after SOL overtook ETH in weekly and daily DEX volume.
It is worth mentioning that Ethereum has once again reclaimed its crown from Solana. In the last 24 hours, Ethereum has recorded a DEX volume of $1.7 billion compared to Solana’s $1.6 billion.
Meanwhile, the Solana price is also down today because of the sentiment in the broader crypto market. The Bitcoin price is currently correcting after the rally earlier in the week. Other coins tend to follow the flagship crypto, which explains why SOL is also experiencing a price correction of its own.
What Next For The Crypto’s Price
Crypto analyst Crypto Patel stated in an X post that the Solana price is consolidating within key and resistance zones. He further claimed that the price had rejected the resistance at around $160, which could lead to a decline towards the support level at around $140 for a retest.
If the Bitcoin price continues to retrace, a retest of the $140 support zone looks likely for the Solana price. Crypto analyst Ali Martinez recently stated that BTC could drop back to $63,300 if it fails to hold the critical support level at $66,780 following a retest.
In the long term, SOL’s outlook is undoubtedly bullish, as crypto commentators like Eugene Ng Ah Sio predict that the crypto could hit a new all-time high (ATH) of $1,000.
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.
Altcoin
Dogecoin Price Will Rally 10x To $1 By December, Shiba Inu Will Rally To $0.0005, While ETFSwap (ETFS) Goes From $0.03846 To $35
The markets are always buzzing with predictions, and the latest one is turning heads. Dogecoin price, a fan favourite, is expected to rally to $1 before December. Shiba Inu (SHIB), however, could shoot up to $0.0005. But perhaps the most shocking of them all is ETFSwap (ETFS), an Ethereum token, which could rise from $0.03846 To $35.
ETFSwap (ETFS) Shows Promising Signs Of Long-term Prospects And Sustainability
The core feature of ETFSwap (ETFS) lies in its ability to tokenize Spot ETFs. By tokenizing real-world assets, including gold, oil, and corn, ETFSwap (ETFS) taps into the massive ETF market and serves as a bridge linking both traditional ETFs and cryptocurrency-focused ETFs. This, in turn, removes the need of intermediaries while promoting flexibility and accessibility of Spot ETFs.
ETFSwap (ETFS) provides its users with low transaction costs. In contrast to traditional platforms, the platform allows large-scale investors, including Shiba Inu investors and institutional investors, to contribute to its liquidity pools. By tapping into the liquidity pools, the platform provides users access to high liquidity for trading tokenized ETFs, thereby allowing trades during periods of high volatility.
ETFSwap (ETFS) allows marginal capital trading for ETFs, enabling users to have access and exposure to an underlying asset without having to directly purchase the asset. This potentially offers traders the ability to maximise both potential returns and risks by borrowing against their existing holdings, which can be highly attractive for investors looking to capitalise in short-term volatility in the marketplace.
A significant step in ETFSwap’s (ETFS) journey is its beta platform. After complete development on the backend of the ETF trading platform, the beta platform has been launched on the testnet, presenting an opportunity for early adopters to test the functionalities and features of the platform before a full ETF launch in 2025.
Furthermore, ETFSwap (ETFS) improves trust and safety for users. To do this, thorough audits were conducted on the platform by Cyberscope, a cybersecurity auditing firm, allowing developers to identify and address weaknesses before they are exploited. In addition, the platform’s team has completed KYC verification by SolidProof, a smart contract security auditing firm.
Dogecoin Price Moves From Meme Coin To Market Powerhouse
Initially, the Dogecoin price gained traction in small online communities, but with significant investors’ attention in 2020 and 2021, Dogecoin ranks among the leading cryptocurrencies with a market capitalization of $16.5 billion. After experiencing massive growth in 2021 at around $0.75, the Dogecoin price has since declined to a current value of $0.11.
Despite the correction in the Dogecoin price, its historical support around $0.05 represents a psychological and institutional floor for more buying activity. As such, if the Dogecoin price breaks the resistance zone of $0.10 to $0.15, it could lead to a bullish wave with the Dogecoin price peaking at $1.
Shiba Inu’s (SHIB) Rise Could Capture The Crypto World
Like the Dogecoin price, Shiba Inu (SHIB) is often driven by social media buzz and whale activity. Shiba Inu’s (SHIB) price is typically volatile, and corrections usually follow upward surges. According to CoinGecko, the price of Shiba Inu (SHIB) is currently at $0.00001803. Hence, the common resistance zone for Shiba Inu (SHIB) is around $0.000015.
In the first quarter of 2024, Shiba Inu (SHIB) broke past the resistance level and if the bullish momentum continues, the price could reach a peak target of $0.0005.
ETFSwap (ETFS) Will Shock The Financial Market
After selling millions of units per presale stage and employing the crypto industry’s market capitalization of about $2.36 trillion and the ETF market’s of $11.5 trillion, ETFSwap’s (ETFS) token will become one of the first tokens to make an unprecedented rally in the financial sector.
The token’s value lies in the decentralisation of its platform and the extensive utility it offers. Currently, the token sells at a discounted rate of $0.03846 but is expected to reach the target of $35. Thus, investors can still participate in the final presale stage before its conclusion.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
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