Latest news with #Ripple
Business Insider
2 hours ago
- Business
- Business Insider
XRP's $5+ Explosion Is Loading, Here's 3 Reasons Why It Could Detonate Any Day
XRP's prolonged sideways movement might just be the calm before the storm. Here's why bulls should be paying close attention. Confident Investing Starts Here: After four months of frustrating consolidation between $2.00 and $2.60, XRP may finally be gearing up for a decisive breakout. A confluence of bullish fundamentals, surging institutional interest, and key technical patterns is giving traders a strong case to keep their eyes on higher targets—possibly even in the $5 to $14 range. Let's unpack the three major signals pointing to a potential XRP surge. 1. Ripple's Aggressive Expansion Strategy Ripple is not just sitting back during XRP's sideways grind, it's building aggressively. The $1.25 billion acquisition of prime brokerage Hidden Road is a game-changer. The move reinforces Ripple's ambitions to become a major liquidity hub for institutions. What's even more notable is Ripple's plan to integrate its upcoming RLUSD stablecoin directly into Hidden Road's services, effectively tying ecosystem utility directly to XRP infrastructure. Ripple CTO David Schwartz confirmed that the M&A pipeline is active: 'We have multiple potential acquisitions in various stages, from early stages to late stages.' These aren't just vanity acquisitions either. Ripple's ongoing efforts with Metaco, Standard Custody, and now Wormhole integration signal an intent to turn the XRP Ledger into a cross-chain DeFi powerhouse. XRPL's upcoming upgrades, especially around programmability and a new lending protocol, mirror Ethereum's evolution and lay the groundwork for native DeFi use cases. Combined, these moves could significantly expand demand for XRP as a base asset. 2. CME Futures Volume Signals Growing Institutional Appetite XRP is now playing in the big leagues. Since their launch on May 19, CME Group's XRP futures have already clocked over $542.8 million in trading volume. On day one alone, trading reached $19.3 million, spanning 15 firms and four major retail platforms. Importantly, nearly half of these participants are non-U.S. traders, a key signal of global appetite. 'The introduction of XRP futures has rapidly demonstrated significant market interest and widespread participation,' noted CME Group. High derivatives volume often precedes large spot price movements, especially when accompanied by expectations of a spot ETF. And right now, XRP is among the leading candidates. Polymarket betting odds put the chance of an XRP ETF approval before year-end at 76%. An ETF approval would unlock new flows from institutional allocators—many of whom won't touch crypto until it's wrapped in an ETF wrapper. 3. Technicals Align for a Classic Bull Breakout Crypto analyst XForceGlobal has flagged a compelling technical setup. According to his analysis, XRP recently bounced from the 0.618 Fibonacci level near $2.00, a textbook retracement that often precedes a new leg higher. He sees this as part of a larger Elliott Wave structure targeting $5 in the short term, and $20-$30 over the cycle. Meanwhile, analyst Egrag Crypto points to a bullish symmetrical triangle pattern, with Fibonacci extensions pointing to targets between $8 and $27. Even conservative measures from the bull pennant structure project a breakout target of $14—a 564% upside from current levels. But there's a catch: XRP must first break cleanly above $2.65, which has capped every rally since March. If that level falls, we're likely in for an aggressive move toward $3 and beyond. It's evident that Ripple is expanding aggressively, institutional money is flowing in through CME futures, and bullish technicals are all aligning, XRP may be approaching its breakout moment. The question isn't if XRP will break out of its consolidation range, but how far it will run once it does. XRP is sitting at $2.0852.
The Sun
9 hours ago
- Business
- The Sun
Ripple to withdraw appeal in XRP case against SEC
RIPPLE LABS will withdraw its cross appeal against the U.S. Securities and Exchange Commission in a prolonged legal battle tied to the sale of its XRP tokens, the crypto firm's CEO said on Friday. "We're closing this chapter once and for all," Ripple Labs CEO Brad Garlinghouse said in a post on X, adding that the SEC was also expected to drop its appeal. The move could bring the dispute closer to resolution after years of back-and-forth between the company and the regulator over the token's status as a security. The SEC had sued Ripple for allegedly violating securities laws through the sale of its XRP tokens. In 2023, a judge ruled that XRP sales on public exchanges were legal, but the $728 million of sales to institutional investors broke the rules. Both sides appealed, but later agreed to settle if the judge set aside her injunction and approved lowering the $125 million fine she had imposed on Ripple. However, the judge rejected their request on Thursday. The SEC did not immediately respond to a request for comment.
The Sun
9 hours ago
- Business
- The Sun
Ripple to drop cross appeal against US SEC in crypto lawsuit, CEO says
RIPPLE LABS will withdraw its cross appeal against the U.S. Securities and Exchange Commission in a prolonged legal battle tied to the sale of its XRP tokens, the crypto firm's CEO said on Friday. "We're closing this chapter once and for all," Ripple Labs CEO Brad Garlinghouse said in a post on X, adding that the SEC was also expected to drop its appeal. The move could bring the dispute closer to resolution after years of back-and-forth between the company and the regulator over the token's status as a security. The SEC had sued Ripple for allegedly violating securities laws through the sale of its XRP tokens. In 2023, a judge ruled that XRP sales on public exchanges were legal, but the $728 million of sales to institutional investors broke the rules. Both sides appealed, but later agreed to settle if the judge set aside her injunction and approved lowering the $125 million fine she had imposed on Ripple. However, the judge rejected their request on Thursday.
Yahoo
10 hours ago
- Business
- Yahoo
NY Judge Slaps Down SEC, Ripple's Second Request for an Indicative Ruling on Proposed $50M Settlement
A New York judge has rejected a joint request from the U.S. Securities and Exchange Commission (SEC) and Ripple Labs for her to approve a proposed settlement agreement that would slash Ripple's civil penalty to $50 million and dissolve the permanent injunction against the firm. It is the proposed removal of the permanent injunction, and not the $50 million civil penalty — discounted from the original $125 million imposed by the court last year — that appears to be the sticking point for District Judge Analisa Torres of the Southern District of New York (SDNY), who wrote in her Thursday ruling that a permanent injunction against further violations of federal securities laws was, as the SEC suggested at the time, 'warranted because of the enormous sums of money Ripple made in violating the law and Ripple's incentives to continue doing so.' 'Indeed, if the Court should not be concerned about Ripple violating the law, why do the parties want to eliminate the injunction that tells Ripple, 'Follow the law'?,' Torres wrote. 'When the Court imposed the injunction, it did so because it found a 'reasonable probability' that Ripple would continue violating federal securities laws. This has not changed, nor do the parties claim that it has.' The request comes amid sweeping changes at the SEC following the election of U.S. President Donald Trump in January and the subsequent departure of former SEC Chair Gary Gensler. Under the SEC's new leadership, the regulator has adopted a more crypto-friendly regulatory posture, creating a Crypto Task Force spearheaded by Commissioner Hester Peirce and dropping a host of investigations and litigation against crypto companies. However, as Torres pointed out in her ruling, most of those cases were dismissed by the SEC 'before a court found a violation of federal securities laws.' 'Regardless of leadership changes, the SEC has avoided whipsawing between arguments in ongoing litigation in order to protect the agency's credibility,' said Corey Frayer, director of investor protection at the Consumer Federation of America. 'In granting favors to crypto companies, SEC leadership has chosen to tarnish a 90 year reputation the agency carefully built.' This is the SEC's second request for an indicative ruling — essentially, a preview of what a lower court will do if a higher court sends the case back down to the lower court for a final decision — that Torres has rejected. In May, she slapped down the first such attempt, citing both jurisdictional and procedural flaws. Earlier this month, the parties tried again, filing a new, expanded request with the court arguing that 'exceptional circumstances' warranted the modification of Torres' final judgement. Torres was completely unmoved by SEC and Ripple's arguments, writing: 'The Court respects the freedom of parties to amicably resolve their disputes. It is also true that the SEC, like any other law enforcement agency, has discretion to change course after an enforcement action is initiated. But the parties do not have the authority to agree not to be bound by a court's final judgment that a party violated an Act of Congress in such a manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again. For that, the parties must show exceptional circumstances that outweigh the public interest or the administration of justice. They have not come close to doing so here.' If the parties 'genuinely wish to end this litigation today,' Torres wrote, they have two other choices: they can either withdraw their ongoing appeals in the case, or they can take an appeal. 'Neither option involves requiring this Court to absolve Ripple of its obligations under the law,' Torres said. Sign in to access your portfolio
CNA
10 hours ago
- Business
- CNA
Ripple to drop cross appeal against US SEC in crypto lawsuit, CEO says
Ripple Labs will withdraw its cross appeal against the U.S. Securities and Exchange Commission in a prolonged legal battle tied to the sale of its XRP tokens, the crypto firm's CEO said on Friday. "We're closing this chapter once and for all," Ripple Labs CEO Brad Garlinghouse said in a post on X, adding that the SEC was also expected to drop its appeal. The move could bring the dispute closer to resolution after years of back-and-forth between the company and the regulator over the token's status as a security. The SEC had sued Ripple for allegedly violating securities laws through the sale of its XRP tokens. In 2023, a judge ruled that XRP sales on public exchanges were legal, but the $728 million of sales to institutional investors broke the rules. Both sides appealed, but later agreed to settle if the judge set aside her injunction and approved lowering the $125 million fine she had imposed on Ripple. However, the judge rejected their request on Thursday.
