News
Hidden Road’s clients in the US can now trade cash-settled OTC swaps across major crypto assets, marking one of the first product launches following its acquisition by Ripple.
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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.
- Price Analysis
Investor profit-taking eroded Bitcoin’s bullish momentum and opened the doors to a price consolidation phase. Will traders buy altcoins at a discount?
7447 - Market Analysis
XRP traders say it has the potential to rebound to $3.40 as the SEC begins a formal review of WisdomTree’s spot XRP ETF application.
12096 - News
Ripple argued in a letter to the SEC that fungible cryptocurrencies are not securities in secondary transactions.
4124 - Altcoin Watch
XRP price risks a possible 16% plunge to $1.96 if the support at $2.31, provided by the 200-day SMA, does not hold.
5806 - Price Analysis
Bitcoin continues to be bought at each dip, but overcoming a critical overhead resistance could determine the next steps for many altcoins.
8153 - Altcoin Watch
Chart patterns and onchain trends align to suggest a 25% downside risk for XRP price in the near term.
12558 - Price Analysis
Bitcoin price may have reached a short-term top, but this could open the door to a long-awaited altcoin season.
8847 - Altcoin Watch
An increase in leverage use and favorable regulatory changes could trigger an XRP rally to $3.50 and above.
22056 - Altcoin Watch
XRP’s price action is painting a classic bullish continuation pattern on the chart, with a profit target at around $14.
6071 - Price Analysis
Bitcoin price rallied to a new all-time high and if it holds, select altcoins look ready to follow.
10227 - Price Analysis
Bitcoin’s quick recovery from its Asia-trading session trade-off shows bulls are viewing every dip as a buying opportunity as BTC approaches new all-time highs.
8056 - Altcoin Watch
XRP futures' open interest has dropped sharply in the past five days, creating downside prospects for XRP price and a potential retest of the important $2 level.
6183 - Price Analysis
Bitcoin price breakouts have been capped at $104,000, but a rally through the resistance could open the door for a run to $130,000.
15228 - News
Ripple’s Stuart Alderoty said “procedural concerns” are at the heart of a court’s denial of a joint motion by Ripple and the SEC to settle the regulator’s case against it.
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