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As XRP outpaces most altcoins against Bitcoin, a new Cointelegraph video explores what is driving its price action and whether the momentum can last.
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XRP Crypto News
Founded in 2012 as OpenCoin, Ripple Labs is the software company developing the XRP (XRP) cryptocurrency and distributed ledger technology alongside a suite of payment protocols for streamlined cross-border settlement for financial institutions.
On the Ripple Network, any currency or asset can be used for transactions without relying on XRP, though XRP acts as a bridge between currencies when needed. Ripple’s On-Demand Liquidity service utilizes XRP for cross-border transactions, eliminating the need for pre-funded accounts. This approach facilitated partnerships with major entities like Santander, Bank of America and American Express. However, XRP’s role led to legal issues with the United States Securities and Exchange Commission (SEC), which filed a lawsuit in December 2020, accusing Ripple and its executives of illegally selling XRP to investors without proper security registration.
On July 13, 2023, a court ruled that Ripple’s $728.9 million XRP sales to institutional clients constituted unregistered securities sales, giving the SEC a partial victory. Ripple targeted institutional investors, endorsing a speculative value thesis for XRP contingent on blockchain improvements. Further legal proceedings are likely, with Ripple possibly appealing or presenting new arguments against the court’s decision.
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XRP price is down 4% today, and continued rejection from a resistance level at $2.17 suggests that a deeper correction toward $1.60 is increasingly likely.
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XRP’s latest pullback to $1.61 could be part of a classic chart pattern, according to one analyst, with an ambitious target of $20 if the bulls regain their footing.
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3650 - Price Analysis
Bitcoin remains strong and on target to break above a stiff overhead resistance zone, signaling a possible short-term bottom. Will altcoins follow?
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The SEC and Ripple have paused XRP lawsuit appeals amid ongoing settlement talks and speculation that incoming SEC chair Paul Atkins may drop the case.
17217 - Altcoin Watch
XRP’s failure to break above $2.20 could be a sign that the downside is not over for the altcoin.
3639 - Market Analysis
A majority of XRP supply is in profit, but rising sell pressure at Upbit could be a sign that a growing number of investors are turning bearish.
8094 - Market Analysis
XRP rallies 13% to reclaim the $2 level after the successful launch of the XXRP ETF and a surprise 90-day US tariff pause announcement from President Trump.
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Bitcoin price shows strength despite persistent weakness in global stock markets. Will altcoins follow?
5196 - News
Following the acquisition, the XRP Ledger could become a major venue for tokenized real-world assets, said David Schwartz.
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Ripple is acquiring Hidden Road in a $1.25 billion deal to become the world’s largest non-bank prime broker and expand its stablecoin and XRP services.
5451 - News
Asset manager Teucrium will launch a 2x leveraged XRP ETF on NYSE Arca on April 8 under the ticker XXRP.
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Bitcoin made a sharp comeback from $74,500, but rallying to higher levels could be challenging in the near term.
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