XRP Financial News

The XRP price has risen by 1% in the past 24 hours, recovering to $0.516186 after a weekend in which the exit of market makers from Binance caused altcoin prices to fall by more than 25%.

Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67.

In the midst of the SEC's crypto crackdown and the growing uncertainty in the cryptocurrency market, Cardano has caught the attention of investors. 

This article originally appeared on coincierge.de .

As the legal battle between Ripple and the Securities and Exchange Commission (SEC) nears its conclusion, the XRP community eagerly awaits the outcome and its potential impact on the price of XRP. 

cryptocurrency markets were trading mixed on Friday. Bitcoin, XRP, and Polygon were trading with gains, while Ethereum, BNB, and Cardano were trading with cuts. Bitcoin (BTC) rose 0.58% to $26,532, whereas Ethereum (ETH) was below the $1,850 level. The global cryptocurrency market cap was trading higher around $1.1 trillion, rising 0.53% in the last 24 hours. «Crypto markets have traded sideways in the last 24 hours. The crypto fear and greed index continues to maintain yesterday’s position right in the middle of the scale with 50 points. BTC’s hold around $26.5k remains firm despite events pertaining to the SEC lawsuits and the upcoming monetary policy decision by the Feds due next week,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. The total volume in DeFi stood at $1.91 billion, 7.38% of the total crypto market 24-hour volume. The volume of all stablecoins is at $24.7 billion, which is 95.36% of the total crypto market 24-hour volume.

Bitcoin (BTC) remains well above the crucial support at $25,250, indicating that market participants have shrugged off the news of the lawsuit by the United States Securities and Exchange Commission (SEC) against Binance and Coinbase. When markets do not stay lower for long after negative news, it is a sign that traders are looking to buy the dips rather than panic and dump their holdings.

Amid a turbulent week for crypto markets, which has seen the industry come under serial assault from SEC enforcement actions, all eyes are on Ripple and the upcoming June 13 Hinman-document release date.

cryptocurrency markets were trading in the red on Thursday. Bitcoin (BTC) fell 2% to $26,432, whereas Ethereum (ETH) was below the $1,850 level. «Bitcoin experienced a drop below the US$26,500 mark amidst SEC filing lawsuit against Binance and Coinbase. Despite attempts, BTC failed to surpass the US$27,000 level again. The current support for BTC rests at US$26,200, with resistance at US$26,600. If the immediate resistance is successfully overcome, it could propel the price even higher,» Edul Patel, CEO and Co-Founder of Mudrex, said. Other top crypto tokens were also trading lower. BNB and Solana fell by over 6%. Meanwhile, XRP, Cardano, Polygon and Polkadot also traded with cuts. Vikram Subburaj, CEO of Giottus Crypto Platform said, «US SEC's recent crackdown on Binance and Coinbase has reinstated fear in the markets with top altcoins like ADA, BNB, SOL and MATIC declining by more than 10% in the last week. Bitcoin and Ethereum continue to hold their levels as a safer hedge for investors. We anticipate more volatility in the upcoming week as the US Fed decides on interest rate hikes.»

The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph.

The XRP price has dipped today to $0.521650, representing a drop of 1% as the cryptocurrency market as a whole also falls in the past 24 hours.

cryptocurrency markets were trading higher on Wednesday. Bitcoin (BTC) surged 5% to $26,936, whereas Ethereum (ETH) was above the $1,850 level. BTC volume stood at approximately $23.77 billion, rising 17% in the last 24 hours. «Crypto markets have showcased resilience by trading in the green over the last 24 hours. The crypto fear and greed index has also regained its position in the neutral zone by climbing 9 points since yesterday. This could be attributed to a strong resilience shown by the industry, despite the SEC serving a lawsuit to Coinbase, similar to Binance from the day before,» said Shubham Hudda, Senior Manager at CoinSwitch Markets Desk. Other top crypto tokens were also trading higher on Wednesday. Dogecoin and Litecoin rose by over 4%. Meanwhile, BNB, XRP, Solana and Polkadot also traded with gains. The global cryptocurrency market cap was trading lower around $1.13 trillion, rising 3.14% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $522 billion. Bitcoin’s dominance is currently 46.38%, an increase of 0.61% over the day, according to CoinMarketCap.

The trial of the Terraform Labs Co-founder Daniel Shin is set to begin in South Korea – with prosecutors determined to prove that Terra Classic (LUNC) is a security.

Bitcoin (BTC) and altcoins have been volatile in the past two days as the cryptocurrency markets come to terms with the actions of the United States Securities and Exchange Commission (SEC) against two of the biggest crypto exchanges, Binance and Coinbase.

The price of Cardano (ADA) has slipped by 3% in the past 24 hours, following the commencement of SEC legal actions which name the altcoin as a security. 

The XRP price has risen by 3% in the past 24 hours, with its move to $0.529440 outperforming many rival altcoins which have fallen in the wake of the SEC's legal actions against Coinbase and Binance.

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cryptocurrency markets were trading higher on Friday ahead of US unemployment and non-farm payroll data. Bitcoin (BTC) rose 1.03% to $27,099, whereas Ethereum (ETH) was just below the $1,900 level. BTC volume stood at approximately $14.58 billion, falling 3.55% in the last 24 hours. «Bitcoin traded close to the US$27,000 level as the market awaits the release of the US non-farm payroll data today. The immediate support level for BTC is now at US$26,500, while resistance is at US$27,200,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Litecoin and Tron surged by over 2%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.14 trillion, rising 1.17% in the last 24 hours.

cryptocurrency markets were trading in the red on Tuesday after the U.S. Securities and Exchange Commission (SEC) filed suit against Binance, accusing the exchange giant of violating securities laws. Bitcoin (BTC) declined 4% to $25,764, whereas Ethereum (ETH) was below the $1,850 level. BTC volume stood at approximately $20.32 billion, rising 76% in the last 24 hours. «The latest development between Binance and SEC has spooked the global crypto market resulting in a bloodbath across digital assets. The market will respond sharply as the Binance-SEC saga unfolds; we should brace ourselves for a choppy market in the coming weeks. Regulatory clarity is the need of the hour for the global crypto ecosystem,» Shivam Thakral, CEO of BuyUcoin, said. The world's biggest cryptocurrency exchange Binance and its CEO Changpeng Zhao have been sued by the US Securities and Exchange Commission (SEC), which alleged in a June 5 court filing that the firm operated a «web of deception» that included artificially inflating its trading volumes and commingling customer funds.

The cryptocurrency market has oscillated between support and resistance levels in the past few months. While it appears that Bitcoin now can consistently remain above $20,000, the market’s biggest asset has had trouble breaking past the $30,000 mark.However, other crypto assets are showing consistent growth over the past few weeks.

Bitcoin (BTC) and altcoins witnessed a sharp sell-off on the news that the United States Securities and Exchange Commission (SEC) had filed a suit against Binance in U.S. courts for unregistered securities operations.