The Renzo team announced some changes to the conditions for the REZ token airdrop.

According to the project, several changes are expected regarding the REZ airdrop. The Renzo team elected to increase the initial distribution volume from 5% to 7% after criticism towards the developers and the deposit of the ezETH LRT token.

We hear you! The Renzo team acknowledges feedback and the importance of our community who has made Renzo the leading restaking protocol. Based on your feedback we’re updating:1⃣Claim timeline2⃣Tokenomics3⃣Airdrop eligibilitySnapshot & Claim Timeline:👉Snapshot date…

— Renzo (@RenzoProtocol) April 24, 2024

In addition, the branding date has been postponed to April 30. Tokens can be requested an hour before the asset is listed on the Binance exchange, and the REZ share for the community will be 32% instead of 30%.

The developers also stated that the minimum threshold for participation in the distribution would be 360 points, with 99% of addresses fitting this criterion. Requirements are higher for larger wallets.

Addresses with a balance of more than 500,000 points will receive only 50% of the TGE drop, and the rest will be unlocked linearly over three months.

You might also like: Ethereum stakers exit Lido for Ether.fi, Renzo

The Renzo protocol team has previously been criticized, mainly due to the revelation that developers and large investors accounted for 65% of the REZ supply.

Additionally, according to some commentators, the protocol team attempted to misrepresent the asset allocation by using an incorrect chart.

Renzo Protocol really tweeted a distribution chart like this and thought we wouldn't notice. pic.twitter.com/KpGBVRoRGT

— Steven (@Dogetoshi) April 23, 2024

On April 24, the LRT token of the Renzo protocol, ezETH, also lost its connection to Ethereum (ETH). Its current ratio to the underlying asset fell to 1 to 0.5.

$ezETH depegged briefly to 0.5 $ETH or $1600RIP leveraged points farmers pic.twitter.com/wbgwqpmxh7

— Wazz (@WazzCrypto) April 24, 2024

The Renzo project has become the 53rd project in the Binance Launchpool. Binance will be the first platform to list the REZ token, and trading will begin on April 30.

You might also like: Glassnode: Restaking brings new yield opportunities for Ethereum community

Michael Blank, chief operating officer at Polygon Labs since March 2022, is stepping down.

“The [chief operating officer] position is being eliminated,” a company spokesperson told DL News.

Marc Boiron, president at Polygon Labs, announced Blank’s departure on the company’s Slack last Thursday, according to the spokesperson. Blank will remain at the company, which supports the Polygon family of blockchains and related products, over the next few months as he transitions out of the role.

The elimination of Blank’s role comes almost three months after the company let go of 60 employees, approximately 19% of its staff, per a post from Boiron announcing the layoffs in February. It also follows a series of departures of key leaders at the company over the past year, including two co-founders, a former chief financial officer, and former president.

A spokesperson for Polygon Labs declined to comment further on its chief operating officer’s departure.

Blank, who oversaw both the operations of Polygon Labs as well as its business development unit, did not respond to a request for comment on LinkedIn.

Polygon’s problems

Polygon is among the most visible blockchains. The company behind the blockchain promoted tie-ups with Starbucks, Mastercard, Meta, Disney, and Reddit, as the market capitalisation of the blockchain’s native token, MATIC, peaked at almost $20 billion in December 2021, according to data from CoinGecko.

As the crypto market crashed, Polygon Labs showed signs of instability. In February 2023, it eliminated 20% of its staff, about 100 employees. Shortly afterwards, co-founder Anurag Arjun announced a plan to step away from the project.

Then, former chief financial officer Young Ko, former president Ryan Wyatt, and co-founder Jayanti Kanani all announced plans to depart or step back from Polygon Labs.

Meanwhile, MATIC, which Polygon Labs plans to transition to a new cryptocurrency called POL, nosedived from its $20 billion high to a total market value of less than $5 billion in September, per CoinGecko.

Polygon Labs has since consolidated.

It spun off Polygon Ventures, its venture firm, into a separate company in December. It will also cleave off the team behind Polygon ID, a blockchain-based identity toolkit, over the next few months, as it looks to focus on its zero-knowledge technology — a cryptographic method that lets blockchains process more data more quickly.

Buoyed by the greater crypto resurgence, MATIC’s market value is now near $7 billion.

“The [f]ounders and I are proud of everyone for all the work you’ve done to adapt and rise to the challenge ahead,” wrote Boiron in the February post.

“However, to move as ambitiously and nimbly as possible where everyone is able to take ownership of what they’re doing, we must create an efficient surgical team, with significantly less bureaucracy.”

A recent Bloomberg News article suggests that optimistic Bitcoin traders are dialing back their bets on the leading cryptocurrency as two significant driving forces – robust inflows into U.S. spot Bitcoin ETFs and the hype surrounding the Bitcoin halving event – lose steam.

As reported by Bloomberg, the Bitcoin funding rate, which represents the premium traders pay to open new long positions in the perpetual futures market, dipped into negative territory on April 19, marking the first such occurrence since October 2023. This shift implies a cooling of demand for Bitcoin following a period of all-time highs propelled by the launch of ten US-listed spot Bitcoin ETFs on January 11.

Source: Coinalyze

The article notes that net inflows into these ETFs have decreased in recent weeks, while the long-awaited Bitcoin halving event, which took place last week and cut the supply of new coins, had a limited effect on the cryptocurrency’s price.

Bloomberg says that Bitcoin hit a peak of $73,798 in March but has since experienced a nearly 13% correction, trading at $64,214 as of Thursday morning in London.

Source: TradingView

The waning enthusiasm for Bitcoin among buyers is partly attributed to increasing risk aversion stemming from tensions in the Middle East and expected delays in Federal Reserve rate cuts, according to the article. Julio Moreno, Head of Research at CryptoQuant, is quoted saying that the negative funding rate indicates a decreased desire among traders to open long positions.

Bloomberg also cites Vetle Lunde, an analyst at K33 Research, who pointed out that the current 11-day streak of neutral-to-below-neutral funding rates is uncommon, as previous dips were quickly followed by an influx of leveraged bets. Lunde suggests that this prolonged period of discounted perpetual futures could signal further price consolidation.

The article highlights that the decrease in the Bitcoin funding rate coincides with a decline in daily inflows into the US-based spot Bitcoin ETFs. Bloomberg’s data shows that these ETFs have attracted a net inflow of $170 million so far this month, a significant drop compared to the $4 billion they garnered during the same number of trading days in March.

Source: Farside Investors

Moreover, Bloomberg reports that open interest in Bitcoin futures at the Chicago-based CME Group has fallen 18% from its record high, signaling a diminishing interest in crypto-related exposure and hedging among U.S. institutions. As the crypto market looks for new driving forces, the article states that attention is turning to Hong Kong, which is set to launch its own batch of spot Bitcoin ETFs and spot Ethereum ETFs on April 30. However, it is uncertain whether these new products can attract even a small portion of the demand seen by U.S. issuers.

Featured Image via Pixabay

Bouncebit, a Bitcoin restaking platform recently Annouced Airdrop for everyone who stake Bitcoin in their platform. The protocol went viral After Binance Labs invests on it. And its now getting more attention Because Binance announced MegaDrop with Bouncebit.
🅃🄴🄲🄷🄰🄽🄳🅃🄸🄿🅂123
🔆 How To Participate in Bouncebit 
To participate in the Megadrop, ensure you have a Binance Web3 Wallet & Locked some BNB in Binance BNB Vault. All activities will be carried out on the BNB Chain. The tokens required are BNB for gas fees and 0.0001 BTCB in your Binance Web3 Wallet to complete the task.
So, Simply 
1. Have to Lock some $BNB in Binance ( Like Launchpool) 
2. Do Web3 Quest Here Stake 0.0001 BTCB in Web3 Wallet 
☄️ How to create a Binance Web3 Wallet?
1. Download the Binance app, if you haven't already.
2. Log in to your Binance app.
3. Tap on "Wallets".

4. Navigate to the "Web3" tab at the top.

5. Tap "Create Wallet" and make sure you have backup verified. / If You already have one You ready to Go.
⚡ What is BTCB?
BTCB is a BEP2/BEP20 asset on the BNB Chain, pegged 1:1 to BTC. It operates on a centralized, trust-based model, meaning the amount of BTCB is equivalent to the amount of BTC locked in a public address.
🦠 How to get BTCB?
1. Head to the Home page of your Binance Web3 Wallet.

2. Click on "Transfer".
3. Choose "BTC".
4. Select "BNB Chain (BEP20)" as the network.

5. Proceed to "Transfer".
6. Enter the withdrawal amount.

7. Confirm Withdrawal.

💈 Rewards Calculation: Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus
🔸Locked BNB Score (based on hourly snapshots during the BNB Locked Products Snapshot Period) = (Average 120-day BNB Locked Amount x 130) + (Average 90-day BNB Locked Amount x 120) + (Average 60-day BNB Locked Amount x 110) + (Average 30-day BNB Locked Amount x 100) 
🔹Web3 Quest Multiplier: 1.5
🔸Web3 Quest Bonus: 1,000
⚡ MegaDrop Detail 
🔸Token Name: BounceBit ($BB)
🔹Max Token Supply: 2,100,000,000 BB 
🔸Megadrop Token Rewards: 168,000,000 BB (8% of max token supply)
🔹Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply
🔸Smart Contract Details: BounceBit
🔹User Eligibility: KYC required in eligible jurisdictions
🔸Hard Cap per User: 1,344,000 BB

🔥 Massive Shoutout To Bouncebit Team For a Simple Guide for Web3 Quest 🔥
©𝑻𝒉𝒊𝒔 𝒂𝒓𝒕𝒊𝒄𝒍𝒆 𝒊𝒔 𝒇𝒐𝒓 𝒊𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 𝒐𝒏𝒍𝒚 𝒂𝒏𝒅 𝒏𝒐𝒕 𝒂𝒏 𝒆𝒏𝒅𝒐𝒓𝒔𝒆𝒎𝒆𝒏𝒕 𝒐𝒇 𝒂𝒏𝒚 𝒑𝒓𝒐𝒋𝒆𝒄𝒕 𝒐𝒓 𝒆𝒏𝒕𝒊𝒕𝒚. 𝑻𝒉𝒆 𝒏𝒂𝒎𝒆𝒔 𝒎𝒆𝒏𝒕𝒊𝒐𝒏𝒆𝒅 𝒂𝒓𝒆 𝒏𝒐𝒕 𝒓𝒆𝒍𝒂𝒕𝒆𝒅 𝒕𝒐 𝒖𝒔. 𝑾𝒆 𝒂𝒓𝒆 𝒏𝒐𝒕 𝒍𝒊𝒂𝒃𝒍𝒆 𝒇𝒐𝒓 𝒂𝒏𝒚 𝒍𝒐𝒔𝒔𝒆𝒔 𝒇𝒓𝒐𝒎 𝒊𝒏𝒗𝒆𝒔𝒕𝒊𝒏𝒈 𝒃𝒂𝒔𝒆𝒅 𝒐𝒏 𝒕𝒉𝒊𝒔 𝒂𝒓𝒕𝒊𝒄𝒍𝒆. 𝑻𝒉𝒊𝒔 𝒊𝒔 𝒏𝒐𝒕 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝒂𝒅𝒗𝒊𝒄𝒆. 𝑻𝒉𝒊𝒔 𝒅𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓 𝒑𝒓𝒐𝒕𝒆𝒄𝒕𝒔 𝒃𝒐𝒕𝒉 𝒚𝒐𝒖 𝒂𝒏𝒅 𝒖𝒔.
⚡ 𝗠𝗼𝗿𝗲 𝗔𝗹𝗽𝗵𝗮, 𝗝𝗼𝗶𝗻 𝗨𝘀, 𝗙𝗼𝗹𝗹𝗼𝘄  𝗨𝘀, 𝗦𝗵𝗮𝗿𝗲 𝗨𝘀 ⚡ @Techandtips123
#megadrop #Binancemegadrop #bitcoin

BNB Chain said it will enable native liquid staking on its BNB Smart Chain (BSC) as part of its shift to migrate the BNB Beacon Chain’s functions to BSC as the former is wound down. 

In an announcement sent to Cointelegraph, BNB Chain noted that the BNB Beacon Chain will be completely shut down by June 2024. However, the company said it will transfer its features to the BSC before it closes.

BNB Chain’s road map for transitioning from the Beacon Chain to the Smart Chain. Source: BNB Chain 

BNB Chain said that enabling liquid staking on BSC will allow ecosystem participants to secure the network while keeping the liquidity of their assets.

While the organization did not give a specific date for the rollout of the liquid staking feature, BNB Chain said it will happen in April or May.

The BNB Chain core development team told Cointelegraph that the move to BSC is the organization’s attempt to streamline the network. They said:

“The implementation aligns with the sunset of the BNB Chain Fusion, streamlining the network, improving efficiency, reducing security risks and matching current technological demands.” 

The team added that the move is also a part of the company’s growth plans to make the BNB Chain “more attractive to users.”

BNB Chain explained that with the feature, users can engage in decentralized finance activities without sacrificing the asset’s utility because they will have liquid staking tokens representing their staked crypto assets. 

The BNB Chain core development team also told Cointelegraph in a statement that holders can delegate their BNB (BNB) to a liquidity pool or directly to the validator. They said:

“Liquidity staking not only rewards BNB stakers but also enhances security for the BNB Chain network. It offers BNB holders increased flexibility in staking their assets and more options for staking BNB.”

The team explained that when BNB holders stake their tokens in the liquidity pool, they can receive liquidity provider tokens, which they can use in many activities within the ecosystem.

Related: New crypto users shouldn’t ‘rush into DeFi’ — Security firms

According to the development team, liquid staking and the maximum extractable value (MEV) optimization for the BNB Chain will be rolled out together.

“Validators with MEV enabled will have the opportunity to boost their staking returns through MEV revenue, which will ultimately be factored into Liquidity Staking rewards,” the team added.

Magazine: 7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more

Runes — a new token standard on Bitcoin — has made up more than two-thirds of transactions on Bitcoin since it was launched following the network’s halving event on April 20.

More than 2.38 million Runes transactions have been processed — accounting for 68% of all Bitcoin transactions made since it launched on April 20, according to a Dune Analytics dashboard shared by blockchain research firm Crypto Koryo.

Ordinary Bitcoin peer-to-peer transactions, BRC-20s, Ordinals and Runes were included in the total transaction count.

Share of Bitcoin transactions between various token standards. Source: Dune Analytics

Runes had its biggest day on April 23 with more than 750,000 transactions, though the count more than halved the next day at 312,000 transactions.

Much of the initial demand at block 840,000 came from memecoin and nonfungible token enthusiasts competing to inscribe and etch “rare satoshis” via the Runes protocol.

As a result, Runes transactions contributed to nearly 70% of miner fees on the halving day. Since then, the daily figure fluctuated between 33% and 69%.

However, industry pundits are also split on whether Runes will provide a sustainable revenue stream for Bitcoin miners, and there’s already a disparity between the numbers of Rune transactions and miner fees earned from Runes.

The new protocol, launched by Ordinals inventor Casey Rodarmor, has been marketed as a more efficient way to create new tokens on the Bitcoin network when compared to the BRC-20 token standard — an Ordinals-based method for creating Bitcoin-based tokens.

Related: Bitcoin fees crash after record daily average of $128 on halving day

However, not everyone is happy with the amount of block space that has been taken up by Runes transactions in recent days.

Among those critics is Nikita Zhavoronkov, a lead developer at blockchain search engine Blockchair, who believes Bitcoin has “completely ceased” becoming a peer-to-peer electronic cash system — what its pseudonymous creator Satoshi Nakamoto originally envisioned.

Source: Nikita Zhavoronkov

Magazine: Get Bitcoin or die tryin’: Why hip hop stars love crypto

Reported by Cointelegraph, Hong Kong spot Bitcoin and Ether exchange-traded funds (ETFs) will be remarkably different from their United States counterparts, with the city’s regulator having greenlit them for an April 30 launch.

According to a report by one of the issuers, ChinaAMC, its spot Bitcoin and Ether

ETFs will track the performance of the Chicago Mercantile Exchange’s crypto indexes. Redemptions will be available in both fiat money and crypto funds. In addition, ChinaAMC’s crypto ETFs will be denominated in three currencies: the U.S. dollar, Hong Kong dollar and Chinese yuan. Investment asset manager BOCI-Prudential and crypto exchange OSL will act as the custodians for the ETFs.

The aforementioned two firms will also custody spot Bitcoin and Ether ETF assets for issuer Harvest Global. BOCI and OSL "effectively solves problems such as excessive margin requirements, price premiums caused by missing short positions, and roll losses, thereby more accurately reflecting the real-time value of Bitcoin and Ethereum,” said Harvest Global staff in a statement.

Meanwhile, Hong Kong-based HashKey Capital will jointly launch its spot Bitcoin and Ether ETFs with Bosera Asset Management. Regarding the future of the crypto ETFs, its staff wrote:

“The approval of the virtual asset spot ETF and the innovative introduction of a currency-holding subscription mechanism (which allows investors to directly use Bitcoin and Ethereum to subscribe for corresponding ETF shares) are expected to further promote the development of the virtual asset market in Hong Kong and even Asia., attracting more global capital inflows.”

On April 24, Bloomberg senior ETF analyst Eric Balchunas mentioned that Hong Kong Bitcoin ETF management fees will range from 0.3% to 0.99%. This is much higher than U.S. spot Bitcoin ETFs, where some issuers charge less than 0.25% per annum. “A potential fee war could break out in Hong Kong over these Bitcoin & Ethereum ETFs,” commented Bloomberg analyst James Seyffart.

All three ETF issuers will create and redeem ETF shares on Hong Kong's regulated crypto exchanges, OSL and HashKey. Each day, investors will have until 11:00 am local time to redeem their shares for cash or until 4:00 pm for crypto withdrawals. BOCI Prudential will serve as the custodian for all issuers, while market makers include Vivienne Court, Virtu Financial and others.

According to renowned crypto analyst Immortal, 50 projects in the Real World Assets (RWA) sector are set to experience a 20-100x price appreciation during this upcoming bull market.

In this article, we will explore the various sectors within the RWA space and highlight the projects that Immortal believes have the greatest potential for growth.

DeFi Sector

The Decentralized Finance (DeFi) sector has been a major driving force behind the growth of the cryptocurrency market in recent years. Within the RWA space, several DeFi projects are poised for significant gains, including:

$HIFI

$HTR

$SCLP

$REQ

$XVS

$RSR

$SNX

$MKR

$OMAX

These projects aim to revolutionize traditional financial services by providing decentralized alternatives that offer greater accessibility, transparency, and security.

Web 3 Sector

The Web 3 sector, which focuses on the development of a decentralized internet, is another area where RWA projects are expected to thrive. Some of the most promising projects in this sector include:

$ERN

$DEXTF

$LCD

$OGY

$EKTA

$ACQ

$VEXT

$OPUL

$WAG

These projects are working towards building a more open, collaborative, and user-centric web, where individuals have greater control over their data and online experiences.

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Show more +Show less – Layers Sector

The Layers sector encompasses projects that are building infrastructure and scaling solutions for blockchain networks. According to Immortal, the following projects in this sector have the potential for significant growth:

$LTO

$SCPT

$COREUM

$LSK

$XEP

$XDC

$AZERO

$XCH

These projects are focused on improving the scalability, interoperability, and efficiency of blockchain networks, enabling them to support a wider range of applications and use cases.

Networks Sector

The Networks sector includes projects that are building decentralized networks and protocols for various purposes, such as data storage, communication, and computation. Some of the most promising projects in this sector include:

$NXRA

$LMR

$CANTO

$DUSK

$CHEX

$POLYX

$OM

$RIO

$HASH

These projects aim to create more resilient, secure, and censorship-resistant networks that can support a wide range of decentralized applications and services.

Real Estate Sector

The Real Estate sector is a particularly exciting area within the RWA space, as it seeks to tokenize and democratize access to real estate investments. According to Immortal, the following projects in this sector are set for significant growth:

$HIFI

$PRO

$PRCL

$UBXS

$ELAND

$LABS

$CRE

$PROPC

These projects are leveraging blockchain technology to create more efficient, transparent, and accessible real estate markets, enabling investors to participate in a wider range of opportunities with lower barriers to entry.

Other Notable Projects

In addition to the sectors mentioned above, Immortal has identified several other RWA projects that have the potential for significant growth in the upcoming bull run cycle. These include:

$BTM

$UNO

$HZN

$P3D

$RBN

$NPT

$APE

$CGO

These projects span a wide range of use cases and industries, showcasing the diversity and potential of the RWA space.

As the cryptocurrency market prepares for the 2024 bull run cycle, the Real World Assets sector is poised for explosive growth. With 50 projects identified by analyst Immortal as having the potential for 20-100x price appreciation, investors have a unique opportunity to capitalize on the emerging trends and innovations within the RWA space.

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The post 50 RWA Projects Poised for 20-100x Growth in the 2024 Bull Run Cycle appeared first on CaptainAltcoin.

Worldcoin (WLD) could be the victim of a significant downtrend in the coming weeks. The team plans to sell as many as 1.5 million WLD tokens over the next six months, which could bring about massive selling pressure and affect the token’s price. 

Details About The Proposed WLD Token Sale

Worldcoin revealed in a blog post that World Assets (a subsidiary of the Worldcoin Foundation) will sell between 500,000 and 1.5 million Worldcoin tokens weekly to a group of institutional trading firms outside the United States. This token sale will be done through private placements and is expected to last up to six months. 

Therefore, as many as 36 million WLD tokens could be sold under this arrangement. Interestingly, these tokens do not form part of the current circulating supply, as Worldcoin stated that “the circulating supply of WLD will thus increase correspondingly” as the token sales progress. That means Worldcoin’s circulating supply could see an 18.6% increase to over 229 million WLD tokens once the private sale is done. 

This development is undoubtedly a cause for concern for WLD holders, given the impact it could have on the crypto token’s price action. However, Worldcoin tried to downplay the effect of this token sale, noting that a weekly sale of between 500,000 and 1.5 million WLD tokens represents “less than 0.1% to 0.4% of the current weekly trading volume.

Meanwhile, World Assets “may seek to include a 40-day lock-up period restricting the resale of WLD by trading firms,” Worldcoin remarked. This could also help reduce the high volatility that could arise from an immediate sell-off by these trading firms. 

The Worldcoin Ecosystem

WLD is the native token of Worldcoin, a project that focuses on the digital verification of humans. Users in the Worldcoin ecosystem get verified through a device called the “Orb.” Since launching last year, the project, co-founded by Open AI’s CEO Sam Altman, has drawn criticism, with many, including Ethereum’s co-founder Vitalik Buterin, raising privacy and legal concerns. 

Authorities in different countries have investigated the project as they believe its data collection method may have breached certain privacy laws. NewsBTC also recently reported that Worldcoin faces a potential fine of $1.2 million in Argentina for violating the country’s National Consumer Protection Law.

Despite the regulatory scrutiny, the team is still looking to expand. In the blog post, they hinted that the proceeds from this token sale will be directed towards meeting the “increasing demand for orb-verified World IDs around the world.”

At the time of writing, Worldcoin is trading at around $5.4, down over 6% in the last 24 hours, according to data from CoinMarketCap. 

WLD price falls to bearish pressure | Source: WLDUSDT on Tradingview.com

Featured image from The Block, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months appeared first on Crypto Breaking News.

The post Will Binance Burn Fuel The BNB Price To Achieve $700? appeared first on Coinpedia Fintech News

The Binance Foundation on 24th April completed its 27th quarterly BNB token burn by the BNB Chain. During this process, a total of 1,944,452.51 BNB tokens were burned which were valued at approximately $1.17 Billion at the time of burn.

The Binance burn is a quarterly process and is completed automatically with the help of the Auto-Burn formula. The ultimate goal of this process is to reduce the total supply of BNB tokens to 100 Million. Currently, the total supply stands at 149,532,856 BNB tokens.

Impact Of The BNB Burn On Binance Price:

The BNB coin price displayed a neutral trend by trading in a closed range between $278 and $345.5 until mid-February. As the volatility in the market grew, this altcoin jumped approximately 110%, before facing rejection at $635. Since then, the price has been trading in a consolidated range between $506.5 and $635.

TradingView: BNB/USDT

Positively, the Binance token has added 11.43% within the past seven days and 10.12% over the past 30 days. Moreover, its Year-to-Date (YTD) stands at 94.58%, indicating a strong bullish price action for the Binance coin price during the upcoming months.

The technical indicator, MACD, shows a rising green histogram, indicating increased buying pressure in the crypto market. Furthermore, the averages display a bullish convergence, suggesting a positive outlook for the BNB price in the coming time.

Will Binance Coin Price Rise Back Up?

If the bulls continue gaining momentum, the BNB coin price will test its resistance level of $635 by the upcoming weekend. Moreover, if the market holds the price at that level, the Binance token will attempt to test its previous all-time high (ATH) of $690.9.

Conversely, if a trend reversal occurs, the BNB token will lose momentum and fall to test its support level of $569.5. Further, if the bears continue to dominate the market, the Binance token will plunge and prepare to test its lower support level of $506.5 during the upcoming weeks.

A popular cryptocurrency analyst known in the space for accurately predicting the cryptocurrency market bottom during the 2018 bear market has recently said the price of Solana ($SOL ) is “gearing up for a violent breakout.”

In a post shared on the microblogging platform X (formerly known as Twitter) with over 250,000 followers, the popular pseudonymous cryptocurrency analyst that goes by Bluntz Capital on the platform showed a Solana price chart showing the cryptocurrency making higher lows after forming three corrective waves.

$sol gearing up for a violent breakout here imo pic.twitter.com/QcJVY0FIm4

— Bluntz (@Bluntz_Capital) April 22, 2024

Bluntz utilizes the Elliott Wave Theory, a technical analysis framework that suggests an asset’s price movement unfolds in a specific, five-wave pattern. Elliott Wave Theory, a popular form of technical analysis, postulates that market trends unfold in repetitive cycles driven by investor psychology. These cycles typically consist of a five-wave progression in the direction of the prevailing trend, followed by a three-wave corrective phase.

Ralph Nelson Elliott developed the Elliott Wave theory in the 1920s after he observed and identified “recurring, fractal wave patterns.” These fractal wave patterns are based on the psychology of the masses.

The popular analyst has recently revealed he believes the price of Bitcoin will reach a new all-time high “within the next 1-2 weeks,” after predicting Bitcoin’s “max pain scenario,” which would occur before the “real run up.” On the microblogging platform, the analyst revealed the scenario would be for BTC to lose its recent high and while doing so see investors buy the dip expecting it to keep on rising as they “think its some kind of triangle breakout.”

It’s worth noting Bluntz is famous for, in June 2018, predicting the bear market that was seeing the price of bitcoin drop from a then all-time high near $20,000 would end with the coin trading at $3,200. The prediction was nearly accurate, as BTC hit the target in December of that year.

Featured image via Unsplash.

Ripple, the San Francisco-based blockchain company behind the cryptocurrency XRP, filed its opposition to the Securities and Exchange Commission’s (SEC) demand that the company pay nearly $2 billion in fines and penalties in a late Monday court filing.

In its rebuttal, Ripple said the court should levy a civil penalty of not more than $10 million. 

XRP Lawsuit: $2 Billion Or $10 Million?

Ripple has countered the Securities and Exchange Commission’s proposal seeking close to $2 billion from the fintech company.

Last month, the SEC said it wanted Ripple to fork out $2 billion, including $876 million in disgorgement, a civil penalty of $876 million, and $198 million in prejudgement interest, in its proposed final judgment.

In a 186-page court response on April 22, Ripple argued that the finance watchdog has the burden to prove that the firm will violate federal securities laws in the future. Moreover, the company’s legal team contends that its institutional sales did not show “reckless disregard” for the law, mentioning its interactions with other American regulators.

“Our opposition to the SEC’s request for $2B in penalties for legacy institutional sales is now public,” Ripple’s legal head Stuart Alderoty posited in an X post. “In a case that had no allegations (or findings) of recklessness or fraud, and in which Ripple won on significant issues, the SEC’s ask is just more evidence of its ongoing intimidation against all of crypto in the U.S.”

“We remain confident that the Judge will approach this final remedies phase fairly,” Alderoty concluded.

Addressing the SEC’s demand for disgorgement, Ripple claims that the request is unwarranted because the regulator did not demonstrate that the company’s institutional sales caused any “pecuniary harm” to investors. Regarding the civil penalty, Ripple asserts that it should be closer to $10 million.

“The Court should deny the SEC’s requests for an injunction, for disgorgement, and for pre-judgment interest, and should impose a civil penalty of no more than $10 million,” Ripple said in the opposition motion.

Ripple revealed that it has changed the way it sells XRP after July 2023’s court ruling.

“Ripple has publicly acknowledged that ruling, and does so again now. It has changed the way it sells XRP and changed its contracts to avoid the problems identified by this Court,” the company said Monday.

Is XRP Lawsuit Nearing End?

Ripple and the SEC have been embroiled in a courtroom showdown since December 2020, when the regulator slapped the fintech company with a $1.3 billion lawsuit for allegedly selling unregistered securities in the form of XRP.

But last year, Ripple notched a groundbreaking victory in the courts against the SEC when Judge Analisa Torres ruled that programmatic sales of XRP to retail investors did not qualify as securities.

Ripple’s response to the SEC’s penalty demand comes at an opportune time. According to a recent report from Bloomberg, Michael Welsh and Joseph Watkins, two SEC lawyers, have been forced to resign following a federal judge’s sanctions against the Commission for committing “gross abuse of power” in the Debt Box case.

The attorneys presented “materially false and misleading representations” in order to obtain the temporary restraining order against the Utah-based crypto company.

U.S. lawyer James “MetaLawMan” Murphy highlighted what investors can expect next. In his opinion, Judge Torres has not set a deadline to give her decision. “But, I would expect that this decision will come substantially quicker than the summary judgment rulings. Best guess would be 60 to 90 days after the last brief (May 6).”

At the time of writing, the XRP price is up 2.3% over the last 24 hours, hovering around $0.55.

In my first bull run, I lost 90% of my net worth because I was stupid and didn't take profits...

Many can tell you when to buy, but nobody says when to sell.

I spent months studying how to sell crypto at its ATH.

Here's my ultimate strategy
👇🧵

Every crypto bull run tends to follow the same pattern: 99% of people either lose everything or simply leave the market at break-even.

This happens because the crypto market is a prime example of human emotions at play, driven by FEAR, GREED, and our "dear" friend called FOMO.

While predicting every crypto move with precision is impossible, having a solid understanding of market structure and some rules can help you secure profits and close positions at the best possible times.

Today, we will delve into the following topics:

👉Market cycle model

👉When to sell BTC/ETH/altcoins/memes

👉Important rules to keep in mind

How Market Cycles Work:

The price of BTC, like any other asset, moves following specific patterns.

This cycle repeats due to human emotions, particularly FOMO.

The diagram below illustrates the emotions traders go through at different time intervals.

While minor variations may occur with each token, the underlying emotions remain consistent.

It's crucial to recognize when alts are starting to really skyrocketing.

During a bullish phase for altcoins, you could potentially earn 100x times more than with BTC or ETH, as they have the potential to yield not just 2x but up to a 1000x return.

You may know how things work in the market and in this world, but if you don't have a system and you can't manage your emotions...

You will get rekt!

Check out my list of rules that help me sell close to ATH and make consistent profits:

① ➬ Think of market profits as your paycheck, not as a lottery win.

Respect your money.

Don't treat it like you're in Las Vegas or some strip club where you can throw money around left and right.

There are no get-rich-quick schemes in this world.

Only slow and steady wins the race.

② ➬ Buy on expectations, sell on the news.

Don't be the person who shows up after the party's over.

When news breaks, it's time to sell, not buy.

By buying late, you're just feeding those who got in early and are now laughing in their new Lambos.

③ ➬ Would you buy a token from your portfolio right now if you weren't already holding it?

As humans, we don't like losses or realizing we've made poor investments, even when they're truly bad.

We often come up with countless justifications for why we're holding onto particular tokens.

You might be astonished by the amount of sh*t assets in your portfolio if you simply pose this question to yourself.

✪ ➬ BONUS

To hit the real jackpot, consider these factors when analyzing a promising token:

· What is the upside potential?
(compare the token with others in the sector)

· Who are the big holders and top VCs involved?

· What is the roadmap, partnerships, team, etc?

· Are there upcoming listings on CEXs for the token?
(listings usually lead to liquidity and price increases, especially upon announcement)

Thank you for reading this article, so please like and follow if you found it helpful

#BinanceLaunchpool #bitcoinhalving #Memecoins #InvestmentStrategies #HotTrends

The post Ripple vs SEC: Ripple To File Response on SEC’s $2Bn Penalty Demand Today, on April 22 appeared first on Coinpedia Fintech News

Ripple’s long-standing legal battle with the United States Securities and Exchange Commission is entering its final phase. The outcomes from this case could have a significant impact on the cryptocurrency industry, with potential ramifications for the price of XRP, Ripple’s native token. 

This week, especially today, April 22, 2024, is of high importance in the case as defendants – Ripple Inc. will submit its response to the SEC’s demand for fines and penalties totalling $2 billion, a demand of US regulators that has attracted significant criticism from the crypto community.

Ripple’s Opposition Brief and Key Legal Arguments

Ripple’s opposition brief, due to be filed on April 22, 2024, is expected to address the SEC’s claims from its opening brief of the remedies-related filing, where the SEC demanded nearly $2 billion in fines and penalties for alleged securities violations involving institutional sales of XRP. 

We’ll still have 2 days to wait to know Ripple’s official response to it as the opposition’s brief will remain sealed until April 24, when a redacted version will be made public. 

After filing the brief, Ripple and the SEC shall meet to discuss necessary redactions before the document becomes publicly accessible. As per the revised Court order, the SEC is given time until May 6 to file its reply.

SEC’s Stance and Ripple’s Response

The SEC’s demand for substantial penalties, even in a case without allegations of fraud or recklessness, has drawn criticism from Ripple’s executives. 

Ripple’s Chief Legal Officer, Stuart Alderoty, criticised the US regulators last month on X, stating, “Rather than faithfully apply the law, the SEC remains bent on wanting to punish and intimidate Ripple – and the industry at large.” He continued, “We trust the Court will approach the remedies phase fairly.”

We trust the Court will approach the remedies phase fairly. 4/4

— Stuart Alderoty (@s_alderoty) March 25, 2024

Ripple’s CEO, Brad Garlinghouse, voiced similar sentiments noting that the SEC’s demand of nearly $2 billion is unprecedented, especially in a case devoid of fraud. He wrote, “Gensler’s SEC has repeatedly acted outside the law.” 

Garlinghouse emphasized that the SEC’s actions are a “gross abuse of the power entrusted to it by Congress,” and that Ripple would continue to challenge the SEC’s approach.

Gensler’s SEC has repeatedly acted outside the law – not going unnoticed by Judges admonishing the agency for a "gross abuse of the power entrusted to it by Congress" (DEBT Box case) and for acting without "faithful allegiance to the law" (Ripple case). Let’s not also forget… https://t.co/vay6WDBfJc

— Brad Garlinghouse (@bgarlinghouse) March 25, 2024

Impact on XRP Price

The outcome of the Ripple vs. SEC case could significantly affect the cryptocurrency industry, especially Ripple’s native token XRP. 

XRP’s price has shown volatility, with a recent rally past $0.50, driven by expectations surrounding Ripple’s response to the SEC’s demand for $2 billion in fines.

If Ripple is successful in its opposition brief, it could lead to a reduction in the fines and penalties, potentially boosting XRP’s price. Ripple’s partial victories in 2023 led to notable increases in the price of XRP, and a favourable outcome could have a similar effect.

Conversely, if the SEC’s penalty demands are upheld, it could lead to stricter regulations across the industry, dampening investor confidence and slowing the advancement of cryptocurrencies. 

As the remedies stage approaches, Ripple’s response to the SEC’s penalty demand on April 22, today, will be crucial in determining the case’s outcome. All eyes are on the court’s decision and its potential impact on the future of XRP and the broader cryptocurrency market. 

Community pundit Jack argued XRP’s potential to attain $100 and $10,000 after the SEC lawsuit ends.

Previously, he asserted that $1,000 per XRP is “peanuts” considering the tokenization market.

Ripple is challenging the SEC’s proposal for nearly $2 billion in fines today.

Members of the XRP community continue to speculate about XRP’s outlook upon the conclusion of the multi-year legal battle involving Ripple and the SEC. Community member Jack, with 212.6K followers on X, recently weighed in on this discussion. 

Jack emphasized that the Ripple-SEC lawsuit’s conclusion means XRP has complete regulatory clarity to function as the first cross-border payment asset in the US. Accordingly, he argued that a three to five-digit value for XRP upon the termination of a protracted legal battle with the US regulator “is inevitable.” 

The SEC v. RIPPLE case will come to an End and #XRP will become the first digital asset with FULL regulatory clarity in the United States of America for cross-border settlements!3-5 digits per XRP is inevitable. pic.twitter.com/BmSf6jxTg6

— JackTheRippler ©️ (@RippleXrpie) April 22, 2024

Notably, the outlook suggests the community pundit expects XRP to be between $100 and $10,000 sometime in the future. Jack’s latest commentary on XRP’s potential value expanded upon his earlier assertive claim that XRP trading at $1,000 would be “peanuts.” At the time, he grounded the forecast on XRP Ledger’s utility in the tokenization market.

Jack speculated a scenario wherein $50 trillion in tokenized value passes through XRPL. As a result, he concluded that $1,000 per XRP is a trivial target in light of the immense potential within tokenization. 

Now, this XRP enthusiast has issued an even bolder outlook for XRP when Ripple’s regulatory hurdle concludes. One of the most recent updates in the SEC vs Ripple case involves Ripple’s Chief Legal Officer Stuart Alderoty announcing plans to file an opposition to the SEC’s request for nearly $2 billion in penalties from the company. This opposition filing will occur today, April 22.

Last month, the SEC proposed a judgment requiring Ripple to pay $1,950,768,364 in fines and penalties for its alleged violation of federal securities laws. Should the court adopt this proposed judgment, Ripple must settle the $1.95 billion amount within 30 days of the ruling.

However, Ripple’s team is not receptive to this proposal and plans to challenge it today with a counter-filing.

The post Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends appeared first on Coin Edition.

Martti Malmi, also known as Sirius, an early student of pseudonymous Bitcoin creator Satoshi Nakamoto, recently disclosed over 250 emails with Satoshi, providing valuable insights into the early days of Bitcoin and Satoshi’s vision for the cryptocurrency.

According to the emails, Satoshi emphasized that Bitcoin is not meant to be an investment or a way to make money. Instead, its true purpose is to create a peer-to-peer electronic cash system that allows for secure and decentralized transactions.

Notably, in an email dated May 3, 2009, Satoshi wrote, “Bitcoin is a peer-to-peer network based anonymous digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or to keep track of the transactions. Instead, those tasks are managed collectively by the nodes of the network.”

Satoshi also highlighted the energy efficiency of Bitcoin’s proof-of-work (PoW) consensus algorithm, stating that it consumes less energy than traditional banking systems. He noted that the PoW algorithm is the only solution to make a peer-to-peer electronic cash system work without a trusted third party.

Satoshi also emphasized the importance of creating a user-friendly interface and a clear explanation of how Bitcoin works to attract new users. He suggested creating a website with a FAQ section and a clear explanation of how to use Bitcoin.

In an email dated August 24, 2009, Satoshi wrote, “It would be sweet if there was some way to horn in on a market like that as the official virtual currency gets clamped down on with limitations.”

The emails also reveal Satoshi’s support for creating a currency exchange service that allows users to buy and sell Bitcoins for Euros and other currencies. He noted that this would make it easier for users to exchange their Bitcoins for other currencies, making it more accessible and user-friendly.

“That’s great, I could probably get a donor to send currency to you which you convert to euros and pay out through methods that are convenient for users. I don’t want to do an exchange business myself, but it can be done independently of me.” Satoshi wrote on an August 24, 2009, response to Malmi’s proposition for an exchange.

Notably, Satoshi’s vision has since evolved, with various Bitcoin exchanges established, paving the way for broader adoption and usability. One such exchange, Bitcoinexchange.com, was initially conceived with Nakamoto’s input and later led by Martti Malmi. Nakamoto served as an advisor for the exchange’s inception, advocating for practical strategies such as fixed exchange rates over auction-based systems.

Malmi’s revelations highlight Nakamoto’s unwavering commitment to Bitcoin’s foundational principles of decentralization, accessibility, and utility as electronic cash. This commitment underscores the enduring relevance of Satoshi’s vision, even as Bitcoin continues to evolve and adapt to new circumstances.

Bitcoin transaction fees have significantly come down post-halving

The floor price for the Runes NFT collection has also come down. Runes was supposed to be the tool that maintained fee revenue post-halving

Bitcoin {{BTC}} started the week stable, changing hands above $65,800, as transaction fees have significantly lowered following the halving.

On-chain data from Mempool.space shows that medium-priority transactions are now costing $8.48 while high-priority transactions cost $9.32.

In the initial aftermath of the halving, these fees spiked to over $146 for a medium-priority transaction and $170 for a high-priority transaction.

The hashprice index, a metric created by Luxor to quantify how much a miner can expect to earn from a specific quantity of hashrate, has also dropped from $182.98 per hash/day to $81, a level below where it was at pre-halving.

While bitcoin miners anticipated that the halving would significantly cut revenue, the introduction of Casey Rodarmor’s Runes protocol – designed to create fungible tokens on Bitcoin – which went live at the halving, was supposed to be the antidote to this, given the level of activity it would create on-chain.

Instead, in the initial days after the event, floor prices for the runestone NFT collection have dropped by almost 50% in the last 24 hours with a floor price of nearly 0.037 BTC, according to Magic Eden, while ordinal collections like Bitcoin Pullets and NodeMonkes are up 11% and 8% respectively according to CoinGecko data.

It should be noted that these ordinal collections also generate considerable transaction fees but don’t appear to be the same revenue source as many hoped Runes would be.

XRP’s market value has surged recently, buoyed by positive market sentiments and Bitcoin’s fourth block reward halving.

Bullish predictions based on Fibonacci levels and a surge in Open Interest in XRP derivatives indicate growing investor confidence.

Despite a rise in XRP’s price, trading volume has diminished.

XRP has recently witnessed a significant surge in its market value. This upward trajectory comes on the heels of Bitcoin’s fourth block reward halving, which has also positively influenced certain segments of the altcoin market. 

Investor enthusiasm has been buoyed by bullish market forecasts for XRP. Notable among these is a bullish projection from a respected cryptocurrency analyst, who has outlined ambitious target prices for XRP based on Fibonacci levels. These projections align with XRP’s current positioning within a historically significant support zone, reminiscent of its past market cycles. The analyst’s predictions have sparked lively discussions within the investment community, with many suggesting that XRP could soon surpass significant price thresholds.

Further evidence of anticipation for a substantial price movement in XRP comes from a surge in Open Interest in XRP derivatives. This surge in market participation serves as a strong indicator of investor confidence and could potentially foreshadow impending market movements.

Several key factors merit consideration. Fibonacci levels suggest considerable potential for XRP’s price to exceed the $1.2 threshold in the near future. The growth in Open Interest in XRP derivatives underscores the increasing market anticipation and readiness for substantial price changes. Additionally, the alignment of XRP’s price with historical support zones may signal a recurring pattern of bullish behavior.

As of now, XRP is trading at $0.5143, marking a notable increase over the past 24 hours. However, it’s worth noting that trading volume for XRP has declined during the same period. 

Read also:

Shiba Inu’s Price Teeters on the Edge: Will Key Levels Hold?

Bitcoin’s Fate: Balancing on the Edge of the U.S. Debt Dilemma

XRP Gains Edge As Ripple Secures 31 US Payment Licenses, Ignites Crypto Debate

Shiba Inu Enthusiast Unveils SHIB’s Competitive Edge on Road to $0.01

Rocket Pool (RPL) Price Prediction 2023: Will RPL Price Hit $95?

The post XRP Rockets Amid Bullish Predictions: Investors on Edge! appeared first on Crypto News Land.

Bitcoin transaction fees are climbing, a sign of heightened interest and activity on the blockchain. The recent halving event, paired with the introduction of the Runes protocol, has significantly influenced this rise. Such events drive up fees as users compete to process transactions quickly, especially since halvings reduce the mining reward, pushing miners to depend more on transaction fees.

The Impact of Runes on Bitcoin

Runes, a new protocol developed by Casey Rodarmor, has revolutionized how fungible tokens are created on Bitcoin’s network. Following its launch at block 840,000, the protocol saw 853 tokens etched in less than an hour, showcasing the high demand and increased activity. This rush has led to a substantial hike in transaction fees, with the fees for the halving block hitting $2.4 million compared to typical fees of $40,000 to $60,000. The urgency to mint new tokens has kept the fees consistently above $1 million for several subsequent blocks.

Runes!

What are Runes, why are they so interesting and why are they causing a huge spike in #bitcoin transaction fees…

Read on….

Runes is a new proposed token standard on Bitcoin that makes it easier and more efficient for users to create fungible tokens on the blockchain.…

— Bill Barhydt (@billbarX) April 20, 2024

Insights from Bitcoin Experts

Prominent developer Jimmy Song remarked during a livestream, “We’ve not had anything like this in the history of Bitcoin. We’re stressing the network in a different way, in ways we’ve never stressed it before.” This surge in fees and network activity highlights the transformative impact of Runes and similar innovations on Bitcoin’s ecosystem.

Fee Surges and Miner Adaptations

The median fee rate, measured in satoshis per byte, soared to 1,805 sats/vByte post-halving from about 100 sats/vByte previously. This dramatic increase means that even medium-priority transactions now cost around $146, with high-priority transactions nearing $170. Miners, facing reduced rewards from block discoveries, are increasingly relying on these higher transaction fees to sustain their operations.

Future Prospects of Bitcoin Fees

Looking forward, Bitcoin fees are expected to continue fluctuating with the network’s growing complexity and utility. The development of protocols like Runes and Ordinals introduces new functionalities but also pressures fees higher during peak activity periods. The challenge for the Bitcoin community will be to balance these innovations with manageable transaction costs to ensure the network remains accessible and efficient for all users.

Balancing Innovation and Cost

As Bitcoin evolves, integrating technologies like Runes brings excitement but also challenges in managing higher transaction costs. The community and developers must collaborate to maintain a balance where Bitcoin’s accessibility is not compromised by increased operational costs. Ensuring that Bitcoin remains a practical choice for users will be crucial as the network navigates through these exciting yet demanding technological advancements.

 

The post Ripple vs. SEC Lawsuit Update: Potential Supreme Court Showdown and $2 Billion Penalty Battle appeared first on Coinpedia Fintech News

The Ripple vs. SEC lawsuit might go to the Supreme Court. In fact, Ladan Stewart, the former SEC litigator has suggested this possibility. Hence, Ripple is getting ready for a major legal battle on April 22nd. 

The key debate is whether crypto tokens like XRP are securities. The SEC plans to appeal the ruling of 2023 in Ripple’s favour. Now, it has made a crucial demand against Ripple Labs as a penalty.

Ripple’s Legal Response to SEC and SEC Panellists’ Request

Ripple Labs is getting prepared to file its opposition against the SEC’s proposed penalties. The SEC is seeking a total of nearly $2 billion from Ripple for alleged violations of the Securities Act of 1933. It specifically focuses on unregistered XRP offerings.

The SEC’s proposed penalty includes disgorgement, prejudgment interest, and civil penalties, totaling almost $2 billion. Ripple executives have expressed disbelief at these penalties, especially without allegations of fraud or discussion on viable contracts. Previous settlement talks in March have failed to resolve disputes. 

Ripple’s Defense Strategy

On April 22, Ripple will be submitting a redacted version of its opposition brief to the SEC. They will include documents and evidence, supporting their cause. Some parts will stay private based on SEC rules, but a public version will come later. Ripple’s defence is likely to challenge the SEC’s penalty request. It would possibly refer to a court decision from the Aron Govil case and Coinbase’s clarity on secondary market sales

Currently, Attorney John E. Deaton wants to help 4,700 Coinbase customers in a case against the SEC. Coinbase is challenging a key rule about digital assets. If Coinbase wins, it could help Ripple in its own case against the SEC.

Read more: Ripple’s John Deaton Rallies Thousands of Coinbase Customers in Battle Against SEC

XRP’s Price and Legal Uncertainties Amid SEC vs XRP Case

Ripple’s legal battle with the SEC continues to impact XRP’s market. Bill Morgan has also highlighted the lawsuit’s damage and Ripple’s silence on XRPL. In spite of this, XRP shows resilience below $0.50. In addition, Brad Garlinghouse has emphasized Ripple’s strategy to merge traditional finance with crypto amidst US regulatory challenges. 

XRP price rose to $0.5030 on Friday. It was influenced by the tensions in the Middle East, and the SEC vs Ripple lawsuit. Price trends show XRP could go up to $0.5739 or drop to $0.45. 

XRP’s price signs are unclear at the moment, but might change soon. People are unsure because of legal issues and are waiting to see what Ripple does next.

Read more: Is the Ripple vs SEC Lawsuit Holding XRP Price Back?