XRP price struggled to continue higher above the $3.30 level. The price is now correcting gains and might find bids near the $3.00 level. XRP price started a downside correction from the $3.30 zone. The price is now trading below $3.20 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3.1450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $3.00 support. XRP Price Dips Again XRP price managed to start a fresh increase from the $3.120 support zone, but upsides were limited compared to Bitcoin . The price was able to surpass the $3.250 level before the bears appeared. A high was formed at $3.285 and the price recently started a downside correction. There was a move below the $3.20 support. The price dipped below the 50% Fib retracement level of the upward move from the $3.012 swing low to the $3.285 high. Besides, there was a break below a connecting bullish trend line with support at $3.1450 on the hourly chart of the XRP/USD pair. The price is now trading below $3.20 and the 100-hourly Simple Moving Average. It is now holding the 61.8% Fib retracement level of the upward move from the $3.012 swing low to the $3.285 high. On the upside, the price might face resistance near the $3.150 level. The first major resistance is near the $3.20 level. The next resistance is $3.250. A clear move above the $3.250 resistance might send the price toward the $3.30 resistance. Any more gains might send the price toward the $3.4250 resistance or even $3.450 in the near term. The next major hurdle for the bulls might be $3.50. More Losses? If XRP fails to clear the $3.20 resistance zone, it could start another decline. Initial support on the downside is near the $3.120 level. The next major support is near the $3.00 level. If there is a downside break and a close below the $3.00 level, the price might continue to decline toward the $2.880 support. The next major support sits near the $2.750 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $3.120 and $3.00. Major Resistance Levels – $3.20 and $3.250.
In a recent analysis by Blockworks co-founder Yano, data from Chainalysis has revealed noteworthy insights into the trading behavior surrounding the TRUMP/MELANIA tokens. The study indicates that a significant 50%
The future of online shopping is changing, with Web3Bay at the forefront. By integrating Web3 technology, Web3Bay crafts a decentralized market, enhancing control and opportunities for both buyers and sellers. This new setup reduces the usual high costs, mismanagement of data, and centralized governance of typical platforms, focusing instead on fairness, clarity, and rewarding participation. In this system, blockchain technology and community-based operations simplify and improve e-commerce. Buyers benefit from lower expenses and data privacy, while sellers gain more earnings and a broader customer base. As a promising crypto asset for long-term growth, Web3Bay transcends mere transactions, representing a forward leap in e-commerce dynamics. Ownership and Clarity in Transactions Traditional online shops often exploit customer data for profit. Web3Bay counters this with a blockchain structure that ensures users keep complete data control. 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BTC has recently been changing hands between two key market cohorts: long-term holders and short-term holders.
After a leaked page detailed Solana and XRP futures on CME, a spokesperson confirmed that it was an early mock-up and no official plans have been finalized yet. The Chicago Mercantile Exchange, a global leader in derivatives trading, may be gearing up to introduce futures contracts for Solana ( SOL ) and Ripple ( XRP ) as early as Feb. 10, according to a leaked page from their beta website. While the page was quickly removed, it detailed key specifications for the contracts. However, Fox Business journalist Eleanor Terrett reported that a CME spokesperson described the beta website as a draft environment used for mock-ups, which was mistakenly made public. A @CMEGroup spokesperson tells @FoxBusiness that the beta version of the website, which is often used for mock up drafts, was made public in error. No official decisions have yet been made about launching futures contracts for either token. https://t.co/10XfenoIL7 — Eleanor Terrett (@EleanorTerrett) January 23, 2025 “No official decisions have yet been made about launching futures contracts for either token,” the spokesperson clarified. James Seyffart, a Bloomberg ETF analyst, commented on the leak, stating, “Honestly, it makes sense and is largely to be expected if true.” Assuming "beta.cmegroup" is actually a beta/test version of the actual CMEGroup website — looks like CME is expecting to launch SOL & XRP futures on Feb 10. But this isn't available on the actual website yet. Honestly makes sense and largely to be expected if true IMO https://t.co/lfMGd8X9KE — James Seyffart (@JSeyff) January 22, 2025 According to the leaked details, the futures contracts for both Solana and XRP would be available in standard and micro sizes. Solana’s standard contracts would feature a 500 SOL lot size, with micro contracts reduced to 25 SOL. Similarly, XRP’s standard futures contracts would involve 50,000 XRP per lot, with micro contracts sized at 2,500 XRP. All contracts are expected to settle in U.S. dollars, making them convenient for institutional players wary of dealing with direct crypto settlements. The reelection of Donald Trump and the resignation of former SEC Chair Gary Gensler have led to renewed optimism among investors, with firms racing to bring products like Solana and XRP ETFs to market. ProShares, for example, submitted a Solana futures ETF application on Jan. 17, while WisdomTree filed for an XRP ETF in December 2024. Other firms, including Bitwise, 21Shares, and Canary Capital, are also vying to introduce various ETFs. Seyffart noted that the availability of Solana futures on CME could address questions about whether the current Solana futures market—dominated by Coinbase—has the necessary liquidity for such products. “I’m not sure if the Coinbase SOL futures are large and liquid enough,” Seyffart remarked in an earlier tweet. NEW: ProShares just filed for a Solana Futures ETF. VolatilityShares also filed for one of these back in December. Interesting because there arent CME futures yet and i'm not sure if the Coinbase SOL futures are large and liquid enough? pic.twitter.com/7dUPIQw37z — James Seyffart (@JSeyff) January 17, 2025
The post Ripple Lawsuit News: Better Markets Files Amicus Brief in Support of SEC appeared first on Coinpedia Fintech News In the ongoing legal battle between the SEC and Ripple, a new development has emerged. Better Markets Inc., a nonprofit organization, has filed an amicus brief in support of the SEC. For context, the SEC has appealed the 2023 ruling, arguing that Judge Torres made errors when deciding that certain sales of XRP on digital asset exchanges were not securities. To summarize the SEC’s position: they believe the judge wrongly ruled that these “programmatic sales” of XRP were not securities. The SEC argues that these sales should have been considered securities, as they were conducted through exchanges, even though the buyers didn’t directly purchase from Ripple. #XRPCommunity #SECGov v. #Ripple #XRP @Ripple Better Markets Inc. has filed an Amicus Brief in Support of the @SECGov . https://t.co/cu8lTLBqtM — James K. Filan (@FilanLaw) January 22, 2025 Attorney Jeremy Hogan took to social media and said that Better Markets’ amicus brief seems to misunderstand the trial judge’s ruling. The judge didn’t rule that XRP sales on exchanges weren’t securities because the buyers didn’t purchase directly from Ripple. Instead, the judge found that these transactions were “blind bid/ask” sales, meaning buyers couldn’t know if they were buying from Ripple or another seller. This meant the buyers couldn’t rely on Ripple to increase the price, which was a key factor in the judge’s decision. "Better Market's" Amicus Brief was hard to read. Not because I don't think this case will ever be ruled on by the appellate court, but because it COMPLETELY misses (or misconstrues?) what the Trial Judge ruled (see excerpt below). The Trial Judge did NOT rule that sales of XRP… https://t.co/XCjKXYuwQo pic.twitter.com/cjpiCSkvHj — Jeremy Hogan (@attorneyjeremy1) January 22, 2025 Hogan expressed frustration that Better Markets didn’t directly address the core issue of how the judge applied the facts to the law. Instead, the brief argued that the decision was wrong without tackling the legal reasoning behind it. Better Markets also suggested that if the ruling stands, the SEC wouldn’t be able to protect investors, but Hogan disagreed with this line of argument. What is an Amicus Brief? An amicus brief (short for amicus curiae brief) is a document filed in a court case by someone who is not directly involved in the case but wants to provide additional information or arguments that may assist the court in making its decision. The term amicus curiae translates to “friend of the court,” meaning the person or group submitting the brief is offering their expertise or perspective to help the court understand broader issues or implications of the case.
On January 23rd, COINOTAG News reported that the USDC Treasury has expanded its presence on the Solana blockchain by issuing an additional 250 million USDC, translating to approximately $250,199,999. This
The Ethereum blockchain has demonstrated a remarkable resilience in fee earnings, achieving a year-on-year growth of 3% in 2024 despite a significant network upgrade. According to a recent CoinGecko report,
The Ethereum blockchain’s earnings from fees saw a 3% year-on-year rise from 2023 to 2024 despite the Dencun upgrade early last year, which reduced network fees.
BRICS nations are boosting trade in national currencies, a move Iran emphasizes as vital for reducing dollar dependence and countering the economic impact of sanctions. Breaking Free From the Dollar: Iran Pushes BRICS Toward Financial Sovereignty Countries worldwide are increasingly reducing their reliance on the U.S. dollar in international trade, signaling a significant shift in