Analyst Gives Bullish XRP Price Prediction. Another Trader Backs Bitcoin Minetrix New Token
The post Analyst Gives Bullish XRP Price Prediction. Another Trader Backs Bitcoin Minetrix New Token appeared on BitcoinEthereumNews.com.
Major cryptocurrencies are displaying mixed sentiments. While the Bitcoin price continues to trade above the crucial $37,000 level – currently at $37,300 – the altcoins are showing signs of weakness. Tokens such as Solana, Cardano and Avalanche have experienced significant pull-backs today, owing to the US Securities and Exchange Commission labelling them as securities in its lawsuit against Kraken crypto exchange. Despite not being a part of the lawsuit, XRP has also adopted a bearish stance, correcting 2% over the past 24 hours and 6% over the past week. The XRP price is currently trading at $0.612 mark, with a market capitalization of $32.9 billion, CoinMarketCap data reveals. However, analysts believe that the bulls are set to be back in the game, highlighting the possibility of XRP hitting the $1 mark in the coming weeks. Experts are also bullish on a new cryptocurrency Bitcoin Minetrix, thanks to its innovative cloud mining utility. Why SEC’s Lawsuit Against Kraken Could Give A Boost To XRP In its lawsuit against Kraken, the SEC reiterated its stance that cryptocurrencies such as SOL, ADA, and MATIC – along with 13 other tokens – are all securities. The agency had made similar claims in its lawsuit against Binance and Coinbase, which also resulted in major sell offs in these midcaps. However, XRP’s non-security status continues to be the law of the land. Earlier this year, SDNY District Judge Analisa Torres dealt a major blow to the SEC, ruling that while Ripple’s institutional sales did violate the Securities Act, its programmatic sales did not. Furthermore, she struck down the agency’s motion for an interlocutory appeal against her previous ruling, doubling down on her stance. The SEC then proceeded to drop its claims against Ripple co-founders Brad Garlinghouse and Chris Larsen. Ripple’s legal victories against the SEC is…
Filed under: News - @ November 21, 2023 8:16 pm