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Ryan Lee, chief analyst at Bitget crypto exchange, noted that the XRP surge might trigger a pullback, causing a price decline in early August. However, if the price holds above key support levels (around $0.70), it could resume its upward trajectory later.
XRP price has been retesting the weekly bullish breakout from the 2022 bear market in the past twelve months, and could possibly continue until the fourth quarter of 2024.
The addition of settlements to the meeting agenda raised speculation on the social media platform that the SEC was finally going to end its two-year-long court battle with Ripple.
While the potential for a breakout exists, long-term factors like the ongoing SEC lawsuit against Ripple Labs, the company behind XRP, still cloud the horizon.
Such moves are often seen as a sign that these whales intend to hold their XRP for the long term, which can potentially support higher prices.
CME Group announced that the new XRP and Internet Computer reference rates are designed to provide the US dollar price of each digital asset.
XRP Healthcare plans to create additional revenue streams from the UAE market through royalties from businesses and companies seeking to license the XRP Healthcare brand and logo.
Ripple’s regular sales of XRP typically result in a decrease in the token’s value.
The SEC dismissed Ripple’s reference to the Binance case as irrelevant, accusing Ripple of selectively citing the ruling to downplay its mistakes and argue against severe penalties.
Ripple’s introduction of the “Try It” feature is a strategic move by the company to drive broader adoption of its payment solutions.
In addition to the newly launched XRP ETP, Virtune offers access to ten other crypto-related products.
These actions align with the current phase of penalties in the ongoing Ripple versus the SEC lawsuit.
Users will also have the option to rare NFTs and create NFTs, but these tokens are commemorative and, as a result, cannot be transferred or sold.
Kraken’s lawyer, Matthew Solomon, challenged the SEC’s approach of treating the exchange as a unified “ecosystem” with all tokens as investment contracts. He stressed the fair, consistent application of regulations to crypto assets.
The ruling dismissed four of the five claims in the class action lawsuit against Ripple which were termed as “failure to register claims”.