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- Ripple has won two major legal battles against the US Securities and Exchange Commission; The trial is scheduled for April 23, 2024. Despite the CFO’s departure, experts predict a possible win for Ripple at the SEC.
- Major finance companies aim to launch Bitcoin ETFs in the US, pending the SEC’s decision. If the SEC approves, the price of Bitcoin could rise.
- Big investors have acquired huge amounts of Shiba Inu despite its low price. A potential price rise is expected with the development of its proprietary measurement solution, Shibarium.
What’s new in Ripple?
The hype surrounding Ripple and its native token – XRP – seems to have spread across the cryptocurrency space since the company scored two notable victories in its legal battle against the US Securities and Exchange Commission (SEC).
the first It happened In mid-July when a federal judge ruled that the entity’s XRP sales from years ago did not constitute an offer for investment contracts. Earlier this month, the SEC dealt another blow to the judges involved It was rejected Her desire to appeal the initial ruling.
Judge Analisa Torres set April 23, 2024 as the date for the trial between the two organizations. The outcome of the dispute could be highly significant since a decisive win for Ripple could lead to a rise in the price of XRP, overall excitement in the cryptocurrency sector, and the creation of a favorable regulatory framework in the United States.
It is worth noting that the Blockchain Foundation saw its CFO – Christina Campbell – Departure Earlier this week to take a similar position at a healthcare company.
Despite this, many analysts and experts believe that Ripple will emerge victorious in the lawsuit as the SEC is put under pressure and left without any winning options. These examples include Jeremy Hogan – One of America’s leading lawyers and partner at Hogan & Hogan – W Yassin Mubarak – Founder of Dizer Capital, a private equity firm focused on technology startups.
The latter even assumed that the SEC might withdraw all charges against Ripple and its CEO – Brad Garlinghouse – because it is not in their interest to hold a trial “where their corruption could be exposed.”
Possible BTC explosion
The underlying cryptocurrency also remains a popular topic in the space. While it recently consolidated below the $27K level, bulls are anticipating better days due to multiple pending developments surrounding the asset.
I remember that Black stoneInvesco, Fidelity and several other finance giants have showcased their ambition to launch a spot BTC ETF in the USA and are currently awaiting SEC approval or rejection.
Popular cryptocurrency trader using the handle X (Twitter) Crypto Rover Believes The suspense behind the decision may be coming to an end, suggesting the regulator could say ‘yes’ today (October 13). They stated that this date represents the deadline for the watchdog to appeal the Grayscale Bitcoin Spot ETF decision:
“If they don’t appeal the court’s decision, they will have no other options to reject any other Spot Bitcoin ETFs and, therefore, will have to approve all of them. So, if the SEC doesn’t appeal by the end of Friday, we’re basically guaranteeing that Approval for all spot ETFs,” the trader assumed.
The launch of such a product in America could significantly boost the price of BTC and the entire cryptocurrency market. Such a development was observed in October 2021 when the Securities and Exchange Commission (SEC). consent The first ETF backed by Bitcoin futures contracts, designated BITO. Soon after, the leading digital asset reached an all-time high of nearly $70,000.
SHIB whales are on the move
Last but not least, we will touch on the Dogecoin killer – the Shiba Inu. Although its price has recently dropped, the asset has attracted the attention of many whales Stacked More than 4.6 trillion chips (equivalent to more than $31 million) in the past few days.
These large investors could make big profits if the valuation of the memcoin starts to rise in the near future. Some analysts have speculated that such an uptrend may be on the cards, assuming that the solution to measuring the Shiba Inu’s second layer – Shibarium – continues to advance. network recently Exploited The main landmarks and those who want to learn more about them can watch our video:
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