Ripple

Ripple IPO May Be Delayed, Crypto Pundit Gives Reasons Why

Crypto Pundit, Dushyant Shahrawat has suggested that the decline in the global financial technology companies may result in a delay in the highly anticipated Ripple IPO.  FinTech Challenges May Push Back Ripple IPO Timeline An XRP community member, Crypto Eri has shared details about Ripple IPO’s timeline in a post on X (formerly Twitter). The X post briefly shed light on a recent interview on NASDAQ Trade Talks, between global markets Reporter, Jill Malandrino and investment banker at Rosenblatt Securities, Dushyant Shahrawat. Related Reading: Road To $1: Why Did Terra Classic (USTC) Rise 300% In One Day? When asked about his views on the current state of the financial technology industry, Shahrawat emphasized the declining performance of some major fintech companies. He mentioned companies like Block which had experienced major declines this year and saw its shares dropping more than 80% from its all-time high. Shahrawat has stated that the underperformance of these fintech companies could result in a delay for cryptocurrencies scheduled to go public. He mentioned prominent names like Circle and Ripple, which had declared its intentions to initiate an IPO by 2024.  “You can walk the hallways here, you’ve got Circle, Ripple, all the private fintech companies, unicorns, that were waiting in the wings to go public. That time frame (to IPO) got pushed back a little bit, quite a bit,” Shahrawat stated in the interview.  Despite financial specialists predicting an early 2024 launch for the Ripple IPO, Shahrawat has hinted that a minor delay might be in store, at least until the bearish trend in the fintech sector shows signs of recovery.  IPO Delay Amidst Regulatory Actions A blockchain researcher and XRP community member, Collin Brown has also highlighted reasons contributing to Ripple’s IPO delay. Brown has disclosed that the present market conditions and the intensified regulatory scrutiny on Binance are the driving forces behind the postponement of Ripple’s IPO.  “The Ripple IPO is being delayed due to market circumstances, as well as the need for the SEC and BlackRock to crack down on Binance. Now that the path is clear, they will likely prepare for another correction. This will allow Wall Street giants to buy Bitcoin and XRP at lower prices,” Brown said.  Related Reading: Whales Move $30 Million Worth Of XRP To Exchanges – Time To Sell? The researcher has also stated that the price of XRP could be pushed toward $50 soon. This prediction is based on the potential approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC).  “Former NYSE President believes a Bitcoin ETF will attract a flood of money into the industry. Easier access to BTC will likely drive adoption and investment. Once the bitcoin ETF is approved, the XRP ETF will follow suit, pushing the price to $50 per XRP,” Brown said. XRP price drops to $0.6 | Source: XRPUSD on Tradingview.com Featured image from Inside Bitcoins, chart from Tradingview.com
Cryptocurrency

XRP Price Manipulated? Crypto Pundits Alarmed By Market Patterns

The XRP community is abuzz with discussions of potential price manipulation. This debate is fueled by observations from key figures from the XRP army, who are raising concerns over unusual price patterns despite significant developments. XRP Price Manipulation: The Initial Spark Edward Farina, XRP Healthcare’s Head of Social Adoption, first brought this issue to light. He pointed out that despite Ripple’s consistent flow of positive news and developments over the past year, the price of XRP has remained relatively unmoved. Farina compared this stagnancy to the price behaviors of other cryptocurrencies, which he notes often experience price surges on the back of less impactful news. His statement via X was unequivocal: “So Ripple has [had] major excellent news for the past 12 months and the price of XRP hasn’t budged an inch. Any useless coin as soon as it has a crappy partnership goes up in price. And you still believe the price of XRP isn’t manipulated?” Related Reading: Whales Move $30 Million Worth Of XRP To Exchanges – Time To Sell? The influencer known as WallStreetBulls added to the debate by highlighting recent abrupt changes in the XRP price. He specifically referred to a rapid increase and subsequent decline yesterday, which he alleges was a manipulative pump-and-dump scheme, leading to significant profits for certain players. He stated, “[Yesterday’s] rapid pump and dump of XRP, which resulted in a minimum profit of around $5 million for some, highlights the effectiveness of quick market movements and manipulation for substantial gains.” The crypto pundit further alleges a systematic suppression of XRP’s price. He pointed to an incident where a rumor about a Blackrock ETP correlated with a sudden rise in the XRP price to $0.75, followed by a drop to $0.58, and then a stabilization at $0.60 to $0.62, NewsBTC reported. He interprets this as evidence of deliberate market manipulation by entities with significant financial resources. Related Reading: XRP Price Could Hit $10,000 If It Overtakes SWIFT, Pundit Suggests Previously, in an October 9 post, WallStreetBulls had raised similar concerns, suggesting that a small fraction of “wealthy elites” and “major bankers” were manipulating the market. He claimed that these groups, known for manipulating markets like gold, are now targeting XRP. “There’s a significant market manipulation underway, and it appears that the 0.01% wealthy elite and major bankers are at the helm of it!” the analyst claimed. Despite XRP’s regulatory clarity, especially following a court victory against the SEC, he believes it’s facing undue negative pressure in the market. He also accused several media outlets of launching attacks on XRP, presumably to diminish its value and credibility. Dissenting Voices And The Need For Proof It is important to note that not everyone in the XRP community is agreeing with this view. Crypto analyst Jaydee offered a different perspective in October, suggesting that recent price movements were part of a predictable short-term technical correction rather than evidence of manipulation. “Manipulation? Brotha, we knew this short term correction was coming weeks ago? how does he have all these followers,” he remarked. Moreover, it is crucial to underline that, to date, there is no concrete evidence to substantiate these claims of market manipulation. The inherent volatility of the crypto market leads to price fluctuations, which various factors such as investor sentiment, market trends, and global economic conditions directly influence. As the debate continues, it’s imperative for investors and observers to critically evaluate these claims. At press time, XRP traded at $0.6024. Featured image from Shutterstock, chart from TradingView.com
Cryptocurrency

Ripple CEO Offers Perspective On Legal Fallout With The SEC

Brad Garlinghouse, the CEO of Ripple, expressed his views on the aftermath of their legal battle with the US Securities and Exchange Commission (SEC). Ripple CEO Insights On The SEC’s Stand In The Legal Battle The Ripple CEO spoke about the case between the crypto company and the SEC in an interview at the 2023 DC Tech Week. Garlinghouse highlighted the SEC’s several setbacks since the case started. According to the CEO, “the SEC has lost on everything that matters” when he was asked if the case is “done and dusted.” He further highlighted that the case’s conclusion rests on the SEC’s decision to pursue an appeal or not. Related Reading: Ripple Introduces AMMs To XRPL, But Is This Good Or Bad For XRP Price Nonetheless, Garlinghouse asserted that whether or not the SEC files an appeal on the case, which seems over for the regulator. This is due to the SEC’s “losing about three times to the crypto firm.”   In addition, the CEO also brought up the SEC’s losses in the Grayscale case. In a court ruling, a trial judge declared the agency was behaving “arbitrarily and capriciously” towards Grayscales’s Spot Bitcoin ETF application.  Notably, this legal wording suggests intentional and unreasonable activities done carelessly, ignoring relevant circumstances, facts, and other parties’ rights. With this incident, Garlinghouse emphasized that the SEC should reevaluate its course toward cryptocurrency regulation. The CEO stated: I mean this is damning language from a federal judge to the SEC. At some point when you keep trying the same thing and having the same outcome, you need to change your approach. I hope the SEC’s change will be magical. Nonetheless, Garlinghouse noted that the SEC losses will be amplified if they decide to take the appeal process higher.  Furthermore, Garlinghouse “reaffirmed” that Ripple stands prepared to pursue the matter further with the US Supreme Court should the situation demand it. Given that the Supreme Court has typically ruled against regulators, he firmly believes that the SEC would fail in the Supreme Court. Regulatory Framework For the Cryptocurrency Industry The Ripple CEO also spoke about the ambiguous regulatory framework for the cryptocurrency industry in the United States. According to Garlinghouse, other nations are increasing their market influence by implementing open rules and luring capital into the industry. On the other hand, the US continues to view cryptocurrencies with “skepticism.” Related Reading: Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court Garlinghouse conveyed that the US lacks a conducive regulatory framework. This causes the United States to “forfeit” its prospective position as a leader in the cryptocurrency space. So far, the Ripple CEO believes the US will create a crypto-friendly legal environment in the next ten years. Feature image from iShock, chart by Tradingview.com
Cryptocurrency

Bitcoin: ‘Stink Ball’ or ‘Exponential Gold’? Munger and Fidelity Director at Odds on BTC — Week in Review

Berkshire Hathaway billionaire Charlie Munger may think Bitcoin is a “stink ball,” but director of global macro at financial giant Fidelity, Jurrien Timmer, says the asset is “exponential gold.” Find out why, just below, in the latest Bitcoin.com News Week in Review. Berkshire Vice Chair Charlie Munger Compares Bitcoin to a ‘Stink Ball’ Among Traditional […]
Cryptocurrency

Boom! Cronos Unleashes 57% Weekend Explosion, Beating All In The Top 100 Crypto Ranking

Cronos has experienced a robust and sustained bullish trajectory over the recent weeks. Over the course of the past seven days, it has consistently surged, reaching a solid pinnacle, a level not witnessed in months. At the time of writing, Cronos (CRO) showcased its impressive strength, outperforming some of the most prominent names in the top 100 cryptocurrency ranking over the weekend. With a remarkable 7% surge in the last 24 hours and a commanding 57% rally within the seven-day timeframe, as reported by Coingecko, Cronos is not just making waves but also setting itself apart as a standout performer in the current market dynamics. Source: Coingecko Cronos’ Outstanding Performance In The Crypto Market Notably, the CRO token has surpassed the descending trendline, which links the highest points observed since February. This positive momentum underscores the current strength and upward momentum of Cronos, indicating a significant shift in its market dynamics. Related Reading: Solana Breaks Past $54 On Steady Price Momentum – Will SOL Hit $60 This Month? The market’s perception of the asset as overvalued at its current levels is suggested by the notably high Relative Strength Index (RSI) at 97.45, firmly placing it within the overbought zone. This could lead to a potential retracement or consolidation in the near future. However, in the short term, the cryptocurrency exhibits a robust bullish trend, as indicated by the 50-day Exponential Moving Average positioned at $0.0630, with the current trading price of approximately $0.1033 surpassing previous resistance levels. Targeting the key resistance point at $0.10, buyers are likely to drive the coin’s outlook to continue soaring. The ADX indicator has been consistently rising, and the Stochastic Oscillator has reached the overbought point. Total crypto market cap currently at $1.38 trillion. Chart: TradingView.com This, coupled with the increased volume, is a positive signal. Additionally, the CRO price has surged above all moving averages, indicating strong momentum in the market. Market Dynamics And Potential Scenarios The future course of cryptocurrencies is contingent upon the distribution of power between bulls and bears. In the case of Cronos, if the bulls are able to successfully move the price above $0.08352, we may expect more upward momentum, which would be good. CRO weekly price action. Source: Coingecko Furthermore, the coin’s ability to sustain its current level could potentially act as a catalyst for a robust push towards testing the resistance at $0.0900 before the month concludes. On the contrary, if the bears seize control and initiate a trend reversal, causing the price to lose momentum, a test of the $0.07390 support level becomes probable. Related Reading: Kaspa Rules The Weekend Top 100 Coin Roster With 63% Rally – Details Looking ahead, a continued decline might prompt the coin to challenge the lower support level of $0.06696 in the upcoming days, emphasizing the importance of monitoring market dynamics for potential shifts in sentiment and price action. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Vauld
Cryptocurrency

Ripple CEO criticizes SEC for stifling crypto innovation with aggressive enforcement

Ripple CEO Brad Garlinghouse said the U.S. SEC’s actions toward the crypto industry have failed in protecting investors and needs to reassess its regulatory strategy. Speaking to CNBC’s Dan Murphy at the Ripple Swell conference in Dubai, Garlinghouse expressed concern about the SEC’s focus and questioned: “Who are they protecting in this journey?” The CEO […]
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Cryptocurrency

Best Place to Buy Binance Coin

Today, there are more than 19,000 crypto assets listed on CoinMarketCap that are traded across more than 500 exchanges. While Bitcoin and Ethereum represent upwards of 60% of the market...
The post Best Place to Buy Binance Coin appeared first on PKT Cash Blog.
Cryptocurrency

Best Place to Buy Tron

What Is Tron?   Tron (TRX) is a fully decentralized platform that incorporates entertainment and content sharing capabilities through the use of blockchain and peer-to-peer (P2P) technologies. It aims at...
The post Best Place to Buy Tron appeared first on PKT Cash Blog.
Cryptocurrency