Million

Coin

<![CDATA[<figure class="image"><img src="https://cimg.co/news/125028/330301/xrp.jpg" srcset="https://cimg.co/news/125028/330301/responsive-images/xrp___media_library_original_1129_669.jpg 1129w, https://cimg.co/news/125028/330301/responsive-images/xrp___media_library_original_900_533.jpg 900w, https://cimg.co/news/125028/330301/responsive-images/xrp___media_library_original_720_427.jpg 720w, https://cimg.co/news/125028/330301/responsive-images/xrp___media_library_original_600_356.jpg 600w, https://cimg.co/news/125028/330301/responsive-images/xrp___media_library_original_300_178.jpg 300w" width="1129" class="content-img" alt=""></figure>The ever-evolving cryptocurrency landscape has lately been abuzz with talk surrounding <a href="https://www.tradingview.com/symbols/XRPUSD/">Ripple</a> (XRP), currently the fifth-largest crypto by market capitalization.&nbsp;As of now, XRP's trading price hovers tantalizingly close to the $0.50 mark, registering at $0.497194. This figure comes alongside a significant 24-hour trading volume of $502 million.&nbsp;Even though XRP has noted a marginal decline of around 0.50% in the past day, it boasts a robust market cap of $26 billion.&nbsp;From its maximum supply of 100 billion XRP coins, over 53 billion are already in circulation.&nbsp;As we deep-dive into the latest <a href="https://cryptonews.com/news/xrp-price-prediction-as-xrp-drops-12-24-hours-time-buy-dip.htm">price predictions for XRP</a> in this piece, a pressing query surfaces: Are crypto whales leaning more towards buying or selling XRP?&nbsp;Amidst these considerations, the Torres Ruling emerges as a beacon of optimism for XRP enthusiasts.&nbsp;However, Bill Morgan cautions that while this ruling is favorable, it doesn't necessarily bestow "final clarity" on every maneuver Ripple makes with XRP.<h2 id="strong-sec-vs-ripple-labs-key-developments-strong">SEC vs. Ripple Labs - Key Developments</h2>Date &amp; Ruling: On July 13, 2023, District Judge Analisa Torres <a href="https://cryptonews.com/news/judge-approves-investment-banker-as-declarant-sec-vs-ripple-legal-battle-heres-latest.htm">delivered a nuanced verdict</a> concerning Ripple Labs and its leadership.<ul><li>Background: The <a href="https://cryptonews.com/news/ripple-lawsuit-summary-judgement-pepe-outperforms-doge-spct-nears-end-of-stage-1-presale.htm">lawsuit</a>, initiated in December 2020, centered on Ripple Labs, Bradley Garlinghouse, and Christian A. Larsen's alleged unlawful sales of XRP as unregistered securities.</li></ul><h3 id="strong-court-s-decision-highlights-strong">Court's Decision Highlights</h3><ul><li>For SEC: The court favored the SEC concerning Institutional Sales but declined support for other matters.</li><li>For Ripple: The <a href="https://www.reuters.com/legal/us-judge-says-sec-lawsuit-vs-ripple-labs-can-proceed-trial-some-claims-2023-07-13/#:~:text=WHEN%20CRYPTO%20IS%20NOT%20A,Ripple's%20founders%20created%20in%202012.">court sided with Ripple</a> on Programmatic Sales, Other Distributions, and sales by Larsen and Garlinghouse, but not regarding Institutional Sales.</li><li>Critical Clarification: Judge Torres specified that XRP sales by Larsen and Garlinghouse were programmatic and didn't meet the criteria for investment contracts under the Howey Test. XRP, in itself, did not inherently qualify as an investment contract.</li></ul><h3 id="strong-insights-from-bill-morgan-september-16-2023-strong">Insights from Bill Morgan (September 16, 2023)</h3><ul><li>Platform: Shared on X, formerly known as <a href="https://twitter.com/Belisarius2020/status/1702873126999380477?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1702873129037746198%7Ctwgr%5E19796b23f35aff65abb63b0cee1af281cc383d2b%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fwww.cryptoglobe.com%2Flatest%2F2023%2F09%2Ftorres-ruling-is-good-news-for-xrp-but-doesnt-mean-what-ripple-does-with-it-has-final-clarity%2F">Twitter</a>.</li><li>Regulatory Uncertainty: Despite the ruling, the SEC's intent to appeal leaves Ripple's XRP actions in a regulatory gray area.</li></ul><figure class="media"><oembed url="https://twitter.com/Belisarius2020/status/1702873126999380477?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1702873129037746198%7Ctwgr%5E19796b23f35aff65abb63b0cee1af281cc383d2b%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fwww.cryptoglobe.com%2Flatest%2F2023%2F09%2Ftorres-ruling-is-good-news-for-xrp-but-doesnt-mean-what-ripple-does-with-it-has-final-clarity%2F"></oembed></figure><ul><li>Ripple's Business Focus: Ripple is likely to prioritize shareholders and customers over XRP holders. Their potential inclusion of XRP in the Liquidity Hub doesn't overlook the emphasis on more liquid cryptocurrencies like Bitcoin, Ether, USDC, and USDT.</li><li>Final Takeaway: Ripple isn't legally bound to XRP holders, reinforcing the verdict that XRP is not a security.</li></ul><h2 style="text-align:justify;" id="strong-xrp-price-prediction-strong">XRP Price Prediction&nbsp;</h2>Upon analyzing the <a href="https://cryptonews.com/coins/ripple/">XRP/USD</a> technicals, we observed a significant resistance level at 0.5040. This resistance has consistently been evident, notably in the first week of September and again on September 15th.&nbsp;Concurrently, a support channel on the hourly chart positions XRP around the 0.4935 mark.Should XRP confidently breach the 0.5048 resistance, the cryptocurrency might target the next resistance at approximately 0.5120.&nbsp;Beyond this, the 0.5200 level will likely serve as a substantial barrier for XRP. On the downside, the 50-day exponential moving average is poised to provide support near the 0.4900 mark.&nbsp;<figure class="image"><img src="https://cimg.co/news/125028/330300/xrp.jpg" srcset="https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_1754_958.jpg 1754w, https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_1200_655.jpg 1200w, https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_900_492.jpg 900w, https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_720_393.jpg 720w, https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_600_328.jpg 600w, https://cimg.co/news/125028/330300/responsive-images/xrp___media_library_original_300_164.jpg 300w" width="1754" class="content-img" alt=""><figcaption>XRP Price Prediction - Source: Tradingview</figcaption></figure>However, should XRP fall below this, it could potentially aim for the subsequent support level of 0.4790.&nbsp;Further down, the 0.4700 mark is set to be a significant challenge for the cryptocurrency.Given these factors, traders should closely monitor the 0.5040 level, as it's expected to act as a pivot for XRP.A move below this level might suggest a bearish trajectory, whereas a move above it could indicate a continuation of its upward trend.<h2 id="strong-wall-street-memes-the-alternative-coin-worth-considering-strong">Wall Street Memes - The Alternative Coin Worth Considering</h2>Currently, crypto aficionados are expanding their investment horizons, with WSM emerging as a key interest. The pre-launch of $WSM, a cryptocurrency influenced by popular memes, has drawn considerable investor interest.This fresh digital asset is rooted in <a href="https://cryptonews.com/ext/wallstreetmemes/en">Wall Street Memes</a>, a renowned online hub known for its strong connections with the investor community.Wall Street Memes' entry into the cryptocurrency sector has sparked immense enthusiasm, amassing over $300,000 on its debut day and subsequently climbing to an impressive $25 million.In its ongoing presale, WSM tokens are available at $0.0337 each.Seize this unmatched opportunity. Given its promising trajectory, now is the moment to invest in Wall Street Memes and be part of this exhilarating journey.<a href="https://cryptonews.com/ext/wallstreetmemes/en">Buy $WSM&nbsp;Here</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
]]>

XRP Price Prediction as $700 Million Sends XRP Near $0.50 – Are Whales Buying?

Table of Contents

Cryptonews.com

Other articles published on Sep 17, 2023

Top Altcoins To Watch Next Week: Worldcoin (WLD), Polygon (MATIC) And Solana (SOL) May Steal The ...

A Beginner’s Guide To Decentralized Derivatives

NET Stock: Keep Cloudflare Stock in Radar; Is Breakout Possible?

Justin Sun Brought New TUSD Worth $815M Into Crypto Space

Top 5 P2E Games by Active Users for September 2023

Ripple Engineer Unveils XRPL’s Groundbreaking Feature: A Game-Changer for DeFi

Join our free newsletter for daily crypto updates!