China News Official Today TheBitTimes.com

The SEC has already dismissed charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, while the retail XRP sale ruling also went against the regulator. The United States Securities and Exchange Commission (SEC) has a very slim chance of winning the appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit. Morgan in a post on X (formerly Twitter) argued that there is no obvious appellable error other than in “Ripple’s favour regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple. I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FR...

Despite being in the midst of crypto winter, several firms from the crypto space continue to expand their reigns. Right from branching out to different geographical locations to offering new services to customers, companies have been checking a host of boxes. Deribit is one such entity. In a recent interview with Bloomberg, the Chief Commercial Officer of the company, Luuk Strijers, revealed that the platform will be shortly offering market participants more crypto assets to choose from. The world’s largest options exchange is looking to offer XRP, Solana, and MATIC options from January 2024. The executive asserted that the lack of volatility “won’t defer” the company’s plans. The largest cryptocurrency exchange for options, Deribit, is pushing ahead with plans to provide customers with contracts on more coins despite a slump in volatility in digital assets https://t.co/O6zotmQGUc — Bloomberg Crypto (@crypto) October 9, 2023 Also Re...

With four consecutive four-hour bearish candles, XRP price barely holds above $0.5. This level is critical for the resumption of the uptrend and, therefore, must be defended at all costs. advertisement Signs of vulnerability below this level could further destabilize XRP  to the extent of calling on sellers to trigger new short positions. Losses below $0.5 would become apparent if the weak buy signal from the Moving Average Convergence Divergence (MACD) indicator flips bearish. A bearish cross manifests with the blue MACD line flipping below the red signal line. The first pit stop and profit booking target for XRP shorts is the short-term support at $0.488. It would be too premature to rule out further losses, first to $0.44 and if overhead pressure persists, XRP may retest the next price point at $0.4. Recommended Articles Crypto Presale Projects...

Also Read: XRP Advocate Deaton Challenges SEC’s Ripple Verdict Appeal Igniting Legal Debate advertisement When Will Gemini XRP Trading Resume The Gemini XRP relisting is a welcome move for the crypto market, with the US market holding key to further expansion of the web 3.0 ecosystem. However, the exchange has been a little slow in catching up with its counterparts about the relisting. On July 21, 2023, CoinGape reported that the exchange dropped a hint on plans to relist the token on its platform. As of now, only the token deposits have been opened and trading would soon be activated, it said in a statement. “We are delighted to announce support for XRP Ledger ( XRP ), adding a new blockchain to Gemini’s growing list of supported networks. XRP is now available for deposits on Gemini. Trading for XRP will follow.” Overall, the Ripple lawsuit Summary Judgment that the token sales to retail investors are not securities opened a...

Also Read: XRP Copycat Jumps 520%, Innovative Project or a Red Flag? advertisement XRP Token Holders, Not Investors Recently, US SEC chair Gary Gensler evaded a question on the Ripple lawsuit ruling citing the agency takes a collective decision with all the other commissioners. Interestingly, he repeated his warning to ‘investors’ about the Crypto Market , to which American businessman Mark Cuban took objection. He said, “(Gary Gensler) is in the habit of exclusively calling token holders investors. He knows that is incorrect, but it serves his purpose.” John Deaton: The Howey Factors Reacting to Gensler’s comment on the question of the SEC going for appeal, John Deaton , the attorney representing token holders in the lawsuit, said the judge will have a cushion of the first two Howey tests satisfying the ruling that the programmatic sale of XRP tokens to retail traders is not a securities transaction. Re...

Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins. Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s Long-Term Holder Supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.” Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets have turned soft in the near term, the United States equities markets remain on a strong footing. The Dow Jones Industrial Average has risen for ten straight days, its longest streak since 2017. However, things could change this week with a slew of key ea...

XRP gains attention as Bitcoin sees declines in social volume, coinciding with the recovery of altcoins and the release of Hinman emails. Data shows that after Bitcoin ’s social volume experienced a slight decline in the aftermath of its latest surge, the crypto community’s attention has shifted towards XRP . The shift in focus coincides with altcoins recovery and the recently released Hinman emails . Santiment, a market intelligence platform specializing in on-chain and social metrics for over 2,500 cryptocurrencies, highlighted the shifting dynamics in a recent tweet. It noted that while Bitcoin ’s social volume witnessed a marginal decrease, alternative cryptocurrencies like XRP have seen an uptick in discussions. ️ With # Bitcoin 's social volume finally declining ever so slightly after its March ascension, #Ethereum, # XRP Network, and #BinanceCoin are now getting increased discussion. #Altcoins continue recovering by varying degrees based on crowd confidence. h...

Market observers will closely watch the United States CPI data and the Fed’s policy decision to provide direction to the stock and crypto markets. After the tough sell-off seen in the past week, the cryptocurrency markets will be looking for some support from the macroeconomic data this week. The all-important United States Consumer Price Index report on June 13 will be followed up by the Federal Reserve’s policy decision on June 14.  Both these events could trigger a sharp response from equities and crypto traders. While a knee-jerk reaction is expected, it will be interesting to note if there is any follow-up to it. Traders may remain cautious as market volatility is likely to pick up over the next few days. Daily cryptocurrency market performance. Source: Coin360 Although the lawsuit by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase has weakened sentiment, Bitcoin (BTC) whales are using this opportunity to increase their holdings. Behavior analytics ...