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The SEC wants to appeal two rulings by US District Judge Analisa Torres in the landmark case SEC v. Ripple. In her highly anticipated ruling, Torres agreed with the SEC that Ripple’s $728 million worth of institutional sales of XRP were illegal. However, Torres denied the SEC’s allegation that Ripple’s $1.3 billion of programmatic sales of XRP plus other distributions were illegal. The SEC wants to appeal these two denials. Citing “controlling questions of law on which there is substantial ground for differences of opinion” that affect a litany of other lawsuits, commissioners have requested interlocutory review to a higher court, the US Second Circuit. The SEC wants a higher court to overrule Torres. If Torres grants the commissioners’ request, she will pause litigation and not publish final judgments while interlocutory (and subsequent appellate) reviews of her rulings proceed. In short, most XRP transactions might still be securities transactions.  In contrast to the oft-...

XRP price rallied in excess of 100% after Ripple’s victory last week, but do fundamentals support a move to $1 and beyond? XRP (XRP) price booked an incredible 100% gain on the same day as the landmark ruling in the XRP securities case, but buyers are now struggling to hold on to these gains.  The price surge came after judge Analisa Torres of District Court of the Southern District of New York ordered that XRP sale to retail investors does not qualify the token as a security in the U.S. Securities and Exchange Commission’s (SEC) case against Ripple. While the trading interest in XRP is reviving, the technical and network usage data hint at a short-term pullback. Traders flock to XRP but network growth stalls According to Coinglass data, the open interest volume for XRP futures contracts, which represents the total value of open bets for the asset, surged to its highest point since November 2021, reaching $1.19 billion on July 20. XRP future open interest volume. Source: Coinglass X...

Bitcoin market dominance briefly dipped below 50% as altcoins deemed securities by the SEC notched double-digit gains. Bitcoin (BTC) dominance has taken a tumble in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission, with a surge in altcoin prices briefly causing BTC dominance to fall under the 50% mark.  Bitcoin dominance — the measure of how much Bitcoin makes up of the total crypto market cap — fell to 49.76% during Asian trading on July 14, according to Tradingview. Just weeks earlier, BTC market dominance finally managed to rachet above 50%  after a dry spell of two years, amid a slew of applications for spot Bitcoin ETFs from major financial firms. Over the last 24 days, Bitcoin dominance had been hovering around 51% and 52%. BTC market cap dominance. Source: Tradingview The recent dip in Bitcoin dominance comes as the crypto community is chanting the return of “altcoin season.” Boosted by Ripple’s court victory the XRP token s...

Ripple’s operations gear up in Europe and Asia despite an ongoing lawsuit with the U.S. Securities and Exchange Commission. Cryptocurrency payments service provider Ripple continues to see global adoption of its payment services despite a long-winded legal battle with the United States Securities and Exchange Commission (SEC) over its XRP (XRP) token. In a wide-ranging interview with Cointelegraph at Money 20/20 in Amsterdam, Sendi Young, Ripple’s managing director for Europe and the United Kingdom, unpacked the firm’s growing remit worldwide, despite ongoing regulatory scrutiny in the United States. Cryptocurrency exchanges and businesses have clashed with U.S. regulators over the past year, with a lack of regulatory clarity threatening to stifle innovation and adoption of blockchain-based services, systems, and cryptocurrencies. Meanwhile, the European Union is well on its way to instituting a set of requirements and standards for the cryptocurrency industry across the continent af...

Hamilton said the newly discovered SEC emails might hurt the commission’s case against Ripple. Matt Hamilton, former Director of Developer Relations at Ripple , has taken to Twitter to react to the latest discovery of an internal SEC email. Notably, the document suggests that XRP does not satisfy all prongs of the Howey test. In a recent tweet, Hamilton noted that the latest discovery looks “pretty bad” for the United States Securities and Exchange Commission. Hamilton made this known in response to a question about his take. Looks pretty bad for the SEC’s case. — Matt Hamilton (@HammerToe) May 21, 2023 Hamilton Says SEC Might Win According to Hamilton, while most XRP community members know that the recent finding does not bode well for the SEC, the commission could win the lawsuit against Ripple. “In our hearts, we all knew this, but alas, that doesn’t reflect the vagaries of the US regulatory and legal system. We could still be right, but the SEC could still...

SEC vs. Ripple is a well-known dispute that has been going on for more than two years. The SEC charged Ripple with marketing XRP as a sec urity, burdening XRP’s potential for long-term price growth. It is one of the most well-known court battles in the history of cryptocurrencies and a crucial development for industry regulatory worries. A crucial summary decision in the case of Ripple v. SEC is imminent, and fresh developments could change the outcome. Also read: 31% of Crypto Novices Making Mistakes by Following Friends, Advisor Warns Amidst this, there have been some issues going on between cryptocurrency exchange Coinbase and the SEC after the latter filed a Wells notice with the exchange. Coinbase has recently responded to the Wells Notice and XRP supporter and lawyer Bill Morgan has something to say about it. The fact Coinbase delisted (ceased allowing trading) of XRP can hurt its fair notice defense to a claim by the SEC. In its Wells Notice response, t...

Ripple ’s native token XRP rallied last month from a low of $0.36 to a yearly high of $0.57. XRP spiked nearly 60% in March delivering stellar profits to investors in a short period. However, the cryptocurrency began retracing in price in April and shed most of the gains that it generated in March. XRP is currently hovering around the $0.45 mark and is down nearly 3% in the last 24 hours. Also Read: BRICS Countries Buying Large Amounts of Gold To Topple the U.S. Dollar XRP/USD Chart by TradingView The bulls are unable to achieve the $1 target as the bears are pushing its price down due to sell-offs and profit bookings. A cryptocurrency analyst predicted that XRP could slide further and fall to $0.10 in the coming months. Taking the prediction into account, the pseudonymous crypto analyst Egrag weighed in on the possibility of XRP falling to $0.10. Will XRP Crash To $0.10? According to Egrag, XRP has fewer chances of falling to $0.10 from its current price of $0.45. He ...