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Legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has become a significant focal point in the cryptocurrency world. Recent developments hint at the possibility of a settlement between the two parties in the next two weeks, particularly after the SEC filed a notice of appeal on October 2, 2024.
The XRP price has kept to the $0.5298 level today, marking a very slight 0.2% gain in 24 hours as the cryptocurrency market as a whole falls by 1%.
It has drawn the attention of traders that XRP has seen a significant $85 million volume spike recently. Following weeks of sideways trading, this spike in volume may be a precursor to a big move in XRP's price, possibly indicating an attempt at a trend reversal.
XRP whales have been making strategic moves today. While such moves do not really impact price movements, it is crucial to read the minds of these large investors.
Canary Capital, founded by alternative asset manager Valkyrie, has joined the XRP ETF race by filing its own application, as was recently revealed.
In a recent discussion on X (formerly Twitter), David Schwartz, Ripple CTO and one of the key architects behind XRP Ledger, addressed long-standing speculations about his involvement with Bitcoin's mysterious creator, Satoshi Nakamoto.
The SEC filed a notice of appeal on October 2, challenging Judge Analisa Torres's ruling that XRP is not a security. This appeal saw the XRP price tumble sharply, forcing Ripple traders to migrate to alternative investments.
Canary Capital has submitted a filing to the SEC to launch a spot XRP ETF, making it the second proposal in the past week.
Ripple's chief technology officer (CTO), David Schwartz, has criticized a popular AI-powered online platform for the wording it chose to talk about victims of Bitcoin scammers. He does not believe it was a mere typo since, he said, AI is trained not to make typos.
The prospect of an XRP ETF in the U.S. is gaining traction, fueled by optimism from experts and the recent filing by Canary Capital. Despite the U.S. SEC's ongoing appeal in the Ripple case, confidence in XRP's future remains strong among market players.
Bitcoin (BTC) remained muted, registering a marginal decline over the past 24 hours. It continues to hover just under the $62,500 mark.
Canary Capital has filed for spot XRP ETF with the U.S. SEC. The firm became the second to pursue the product after Bitwise.
The price of Ripple (XRP) has dipped below the moving average lines as the altcoin maintains its sideways trend.
According to the latest report from CryptoQuant, stablecoin liquidity has crossed new records, largely due to Tether and Circle. Ripple entered the space with its new RLUSD token.
Canary Capital has filed for a spot XRP ETF with the SEC, marking the second such application in the US, amid ongoing regulatory uncertainty surrounding XRP's status.
"We're pleased to announce that Ripple has been named a Platinum Winner in Best Cross-Border Payments Platform," the company stated.
In the latest developments surrounding the Ripple case, the SEC has announced it will challenge its partial loss in court against the XRP issuer. The regulator filed a notice of appeal, more than a year after a federal judge ruled that the sale of Ripple's XRP on public exchanges does not qualify as a security.
The Canary XRP ETF would track the XRP price by using the Chicago Mercantile Exchange (CME) CF Ripple index and would avoid derivatives product for tracking.
Crypto analysts are projecting significant growth potential for XRP, with predictions ranging from $2.3 to $200, though the asset currently trades at $0.53 amidst market uncertainty.
Ripple's XRP is currently trading at just $0.53, leaving many traders wondering: could it skyrocket by 2x to 5x after the launch of its RLUSD stablecoin? This speculation comes as XRP has struggled to move beyond the $0.50 mark, causing frustration among holders.
The second filing for XRP ETF by Canary Capital has sparked optimism in the market, with many experts revealing potential approval chances for the investment instrument. Meanwhile, this comes just after Bitwise made the first filing for such an ETF in the United States.
According to a report by Isabelle Lee for Bloomberg, crypto investment firm Canary Capital filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on October 8 for a spot XRP exchange-traded fund (ETF), marking the firm's first attempt at launching an ETF.
Canary Capital has applied with the US Securities and Exchange Commission (SEC) to launch a spot XRP ETF (exchange-traded fund). If approved, the cryptocurrency investment firm will offer investors access to XRP without them having to purchase the asset directly.
The second filing for an exchange-traded fund based on the Ripple token has been made in the United States.
