XRP Financial News

News of BlackRock registering the iShares Ethereum Trust increased expectations that the asset manager may eventually apply for an Ether (ETH) spot exchange-traded fund. This is a positive sign as it shows that BlackRock’s cryptocurrency aspirations are not limited to Bitcoin (BTC).

Dogecoin, Chainlink, Polygon, Polkadot and Shiba Inu were also trading over 4% higher. Meanwhile, during this rally, the global cryptocurrency market cap increased 3.26% to around $1.37 trillion in the last 24 hours. «Bitcoin is trading above the $36,000 threshold as market participants await word on the Bitcoin Spot ETF applications from the US Securities and Exchange Commission (SEC). The SEC now has an eight-day period starting today, where all 12 spot bitcoin (BTC) ETF applications could be approved. Otherwise, market participants will have to wait till early 2024 for updates from the SEC,» said Edul Patel, CEO of Mudrex. Market sentiment is presently bullish as investors await more information. Notably, Bitcoin’s price has grown by over 115% from the beginning of the year, Edul said.

XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. Bitcoin was up 1.12% at $35,308 as of 12:05 p.m., while Ethereum was below the $1,900 level. Other popular altcoins, including Solana and Toncoin, rose up to 9%. While BNB fell 2.4% and Polkadot dropped 8%. «Bitcoin is currently trading near the $35,300 mark, while altcoins like Solana and Toncoin have surged by more than 6% and 11%, respectively. This recent price action has pushed the total cryptocurrency market's value to a 16-month high of 1.34 trillion dollars. To maintain its momentum, Bitcoin will need to breach the $35,700 threshold; otherwise, it may find support around the $34,200 mark,» said Edul Patel, CEO of Mudrex.

A wave of green has washed across the entire crypto market, and it won’t be long before traders on X (the social platform formerly known as Twitter) begin to explain that a new altcoins season has arrived. 

The Chief Executive Officer of Ripple, Brad Garlinghouse, has voiced his disagreement with the regulatory posture taken by Jay Clayton, who formerly served as Chair of the US Securities and Exchange Commission (SEC). This criticism surfaced in response to statements made by Clayton during an interview with CNBC on June 29, 2023. Clayton was discussing the SEC's more aggressive legal stance against corporations, especially those operating in the cryptocurrency industry.

At $0.692656, XRP is still up by 12% in the past week and by 39% in the last 30 days, with the altcoin having risen by an impressive 100% since the beginning of the year.

cryptocurrency market cap surged nearly 1% to around $1.33 trillion in the last 24 hours. Bitcoin was up 0.16% at $34,930 as of 12:10 p.m., while Ethereum was just below the $1,900 level. Other popular altcoins, including Dogecoin and Toncoin, rose over 6% each. BNB, Cardano, Solana, Polygon, Polkadot, and Litecoin also surged. Meanwhile, XRP advanced 3% amid Ripple’s involvement with noteworthy projects including a newly announced CBDC pilot in Georgia and its inclusion in Dubai’s virtual assets regime.

Bitcoin’s revival. Gauges tracking the bottom half and 30 mid-tier tokens in MarketVector’s index of the largest 100 digital assets are up 16% and 14% respectively so far in November — exceeding the wider measure’s 4% gain and a 1% rise in Bitcoin. As a result, Bitcoin’s share of the $1.38 trillion crypto market is down to about 49% from a peak of 51.5% in October, CoinGecko data shows. Digital-asset investors often view such a drop as a sign of growing risk appetite. “This rally is definitely broader and more sustained than any price action we have seen since January,” said Richard Galvin, co-founder at Digital Asset Capital Management. “In an environment that’s still relatively thin in regards to liquidity, we’re seeing some material moves to the upside.”

Bitcoin’s (BTC) rally stalled near $36,000, but the bulls have not hurried to book profits. According to Glassnode analysis, the Long-Term Holder metric, which are addresses holding Bitcoin for at least 155 days, supply is near an all-time high, while the Short-Term Holder, addresses holding coins for less than 155 days, supply is near an all-time low, indicating tightening Bitcoin supply.

XRP, BNB, Cardano, Dogecoin, Polygon, and Toncoin were trading in the green. Meanwhile, the global cryptocurrency market cap declined 0.14% to around $1.32 trillion in the last 24 hours. Bitcoin was down 0.6% at $34,915 as of 1:10 p.m., while Ethereum was below the $1,900 level. XRP surged over 9%. Edul Patel, CEO of Mudrex, said, «Over the past 24 hours, Bitcoin has been hovering around the $35,000 mark. This fluctuation may be attributed to traders cashing in their Bitcoin profits and reallocating them into altcoins. Another potential factor could be the United States reporting a gain of 150,000 jobs in October, falling short of the 180,000 predicted by economists and a decline from September's 297,000 figure.»

The XRP price has risen by 1% in the past hour, with the altcoin beginning to recover after suffering a 3% loss in the past 24 hours.

Sam Bankman-Fried, the one-time cryptocurrency golden boy accused by US prosecutors of stealing billions of dollars of his customers' money, was found guilty on Thursday on all counts, and now faces up to 110 years behind bars. Following five weeks of trial in New York, the jury reached its decision in just five hours. Sentencing for man widely known as «SBF» will take place at a later date. Meanwhile, following the development, the global cryptocurrency market cap plunged by 1.8% to $1.28 trillion in the last 24 hours.

Bitcoin’s (BTC) marginal rise of about 1.5% last week suggests that traders are cautious at higher levels but they are not rushing to the exit. The bears have been in hibernation for the past few days but if the rally fails to resume, sellers may try to make a comeback.

The US Security and Exchange Commission (SEC)’s losing streak in its ongoing lawsuit versus US fintech company and the creator of the XRP cryptocurrency Ripple Labs continued last week.

The cryptocurrency markets were trading higher in Thursday's trading after the US Federal Reserve kept rates unchanged and Chair Jerome Powell hedged on the possible end of the rate hiking cycle. The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint. After the end of a two-day policy meeting, Powell said the better course of action for now, given the uncertainties, was to maintain the Fed's benchmark overnight interest rate in the current 5.25%-5.50% range, and see how job and price data evolve between now and the next policy meeting in December. Meanwhile, after the Fed's decision, the global cryptocurrency market cap surged by 2.45% to over $1.3 trillion in the last 24 hours.

Enterprise-grade cryptocurrency Ripple spread some cheer among its patrons after its price surged past $0.60 recently. Given the recent trends and Ripple’s current bullish hold over the market, analysts feel that it has the potential to extend this price rally and even cross $1 in the coming months.

Almost exactly a year since FTX collapsed, its founder and former CEO was found guilty on multiple counts of fraud. While this verdict was expected by many, what does it mean for the future of the cryptocurrency markets and more importantly retail investors putting their money in them?

Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move.

The National Bank of Georgia (NBG) has partnered with Ripple as the official technology provider for its Central Bank Digital Currency (CBDC) pushing for a pilot in the near term.

The Dubai Financial Services Authority (DFSA) has expanded its recognition of digital assets, adding Ripple (XRP) and Toncoin (TON) to its list of officially recognized tokens.

The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC).