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The XRP price has jumped by 2.5% in the past 24 hours, rising to $0.54 after Ripple filed a cross appeal against the SEC yesterday.
After suffering a 16.84% drop in the past week, XRP lost its key support level at $0.54 and almost became a sub-50-cent token. However, buyers took the risk and managed to restore the value of the token to almost this important price level.
For close to four years, the price of XRP has faced an almost unending drawdown. This is because of the U.S. Securities and Exchange Commission (SEC) lawsuit, which has triggered bearish sentiment for the coin.
Lawsuit could establish a precedent for classifying digital assets in the future.
Bitnomial challenges SEC's classification of XRP as a security. The SEC filed a notice of appeal in the Ripple case last week.
Ripple files a cross-appeal against the SEC, sparking a 2% XRP price surge amid ongoing cryptocurrency regulatory battles.
In an interesting development in the SEC lawsuit, Ripple announced yesterday it had filed a cross-appeal of Judge Torres's final judgment, which was entered on Aug. 7, 2024.
The crypto market has witnessed mixed price actions over the past few sessions, leading to considerable investor speculation. Bitcoin (BTC) continued to trade below $61,000 and registered a marginal drop over the past 24 hours.
Crypto derivatives exchange Bitnomial has sued the United States Securities and Exchange Commission over the agency's attempt to “overextend its jurisdiction” to crypto derivatives. In the lawsuit filed on October 10, Bitnomial accused the SEC of trying to claim regulatory authority over the crypto exchange's planned offering of XRP Futures contract.
The SEC had warned Bitnomial that offering XRP Futures could violate securities laws without additional compliance.
Bitnomial Exchange, LLC has filed a lawsuit against the US Securities and Exchange Commission (SEC) and its commissioners on October 10, contesting the SEC's claim that XRP is a security.
The US SEC has refused to back down on the security status of XRP, despite a court ruling finding that the crypto is “not a security.” Recently, the leading crypto derivatives exchange, Bitnomial has sued the agency over its claims that the crypto's futures are “security futures”.
XRP faces key resistance at $0.56, but will bulls spark a recovery now?
Bitnomial, a digital asset derivatives exchange, has filed a lawsuit against the US SEC over its attempt to assert jurisdiction over the planned XRP Futures contract. It claims that this product is regulated by the CFTC and not the SEC.
In the latest update in the Ripple vs SEC lawsuit, the company is about to file a cross-appeal much before the SEC's filing an appeal in the last week. The Ripple CLO ensure that with this move, nothing should be left on the table.
This week, we examine Ethereum, Ripple, Binance Coin, Toncoin, and Shiba Inu in greater detail. Ethereum (ETH) While Ethereum had a volatile week, its price held well and closed it with a 1% gain.
In the lawsuit, Bitnomial has challenged the SEC's assertion that XRP futures contracts fall under its jurisdiction as “security futures”.
XRP whales nabbed significant investor attention on Friday, moving millions of coins after Ripple filed a cross-appeal against the U.S. SEC in the XRP lawsuit. Recent on-chain data suggests that nearly 81 million coins were sent to crypto exchanges over the past day, raising market concerns despite the recent filing that supports the American blockchain
Ripple's Chief Legal Officer recently announced that the company has filed a cross-appeal, aiming to close any remaining issues.
Among the novelties, there is the integration of XRPL for the tokenization of RWA.
Here's the latest update on the Ripple v. SEC front.
Ripple announced several updates to its Ripple Custody platform on 10 October 2024, aimed at enhancing the infrastructure used by fintechs and crypto businesses to manage digital assets.
The SEC said that XRP is a financial security and requested Bitnomial to register as a national securities exchange, according to the filing.
On 10 October 2024, Bitnomial Exchange LLC filed a complaint in the United States District Court for the Northern District of Illinois, seeking declaratory and injunctive relief against the U.S. Securities and Exchange Commission (SEC).
