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XRP Community Blames US SEC For Favoring Bitcoin And Ethereum

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3 months ago

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The XRP community has taken a jab against the US SEC for manipulating the crypto market. In a series of social media posts recently, a flurry of crypto enthusiasts accused the agency of favoring Bitcoin and Ethereum. A flurry of social media investors also highlighted the statements of former director of the agency, William Hinman on Ethereum, further fueling discussions on the long-running controversy in the crypto market.

XRP Community Accuses US SEC For Crypto Manipulation

The XRP community has once again ignited conversation on X, questioning the US SEC’s bias towards Bitcoin and Ethereum. An X user “Digital Asset Investor”, recently shared a video on X featuring a former SEC counsel, Nancy Wojtas. In the video, she emphasized that “Tokens are mutable, you know they can change. That’s what Bill Hinman said. And it’s like, well, we don’t really believe that.”

According to the community, the statement reveals the SEC’s inconsistency, which allowed Ethereum to thrive while keeping other digital assets like Ripple’s native token under scrutiny. Meanwhile, the user further alleged that the agency intentionally created a gray area in the regulatory system to give Bitcoin and Ethereum a competitive edge.

They questioned why Ether founder Vitalik Buterin, who recently admitted to selling ETH to support other projects, has not faced the same legal challenges as Ripple. Buterin, who recently commented on his ETH sales, stated:

All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity, such as biomedical R&D.

XRP community responded critically, likening his actions to a securities transaction and questioning why the agency has not taken similar action against Ethereum.

Ripple Lawsuit Sparks Criticism Amid Ethereum ETF Launch

The legal battle Ripple against US SEC, which saw its conclusion recently, lasted four years without fraud accusations, igniting the community’s frustration. Many argue that the agency’s aggressive approach towards Ripple contrasts with its treatment of Ethereum.

In addition, Digital Asset Investor questioned why the agency halted its investigation into whether Ether is a security, pointing to former director Hinman’s 2018 statement that Ethereum was not a security. This decision, coupled with his involvement in the crypto industry, has long been controversial.

Echoing this sentiment, pro-XRP lawyer Bill Morgan recently cited Elon Musk’s comments on monopolistic behavior by industry regulators. Morgan suggested that the agency’s actions under Hinman and former Chair Jay Clayton displayed clear favoritism.

On the other hand, the XRP community’s concerns have intensified this year, especially after the agency dropped its lawsuit challenging Ethereum’s security status. Besides, it also comes just ahead of the approval of the first Spot Ethereum ETF in the US.

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Rupam Roy

Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC, XRP, & Dogecoin Steal Spotlight

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38 mins ago

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November 17, 2024

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The global crypto realm has closed another week, with remarkable advancements witnessed across the broader sector. Bitcoin (BTC) price pumped to attain a new ATH, whereas the broader market mirrored optimism. Simultaneously, Ripple’s XRP achieved unprecedented levels, sparking market discussions. Moreover, Dogecoin echoed optimism across the broader market amid D.O.G.E-related developments.

Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media in the past seven days.

Bitcoin Hits New ATH Amid Crypto Bull Market

Notably, this week saw BTC price attain a new height of $93,434.36, sparking a tidal wave of optimism among market investors. The coin soared in tandem with increased institutional interest post-U.S. elections, as seen with Bitwise hitting $10 billion in client assets under management.

Further, amid the flagship crypto’s bullish movement, top trader Peter Brandt and investment firm Bernstein predicted BTC price rally to $200K. However, it’s also noteworthy that BTC witnessed slight turbulence this week, attributable to macroeconomic events.

The US CPI inflation rose to 2.6%, raising investor concerns over future movements. Nevertheless, the market closes this week in a bullish state.

XRP Gains Momentum

Simultaneously, XRP price extended weekly gains to 93%, solidifying investor optimism on the asset. Ripple CEO Brad Garlinghouse took the stage to reveal key reasons behind the coin’s strong rally this week, pointing out the post-election environment as a pro-cryptocurrency era.

Also, with speculations of SEC Chair Gary Gansler’s resignation on the rise, market sentiments for Ripple’s coin remain optimistic. Meanwhile, the XRP documentary premiered this week, garnering additional market attention toward the crypto.

Dogecoin Gains Traction Amid D.O.G.E. Saga

Simultaneously, DOGE price extended weekly gains to 54% over the past seven days, primarily attributable to Elon Musk’s D.O.G.E’s saga post-U.S. elections. The American entrepreneur was appointed as the Department of Government Efficiency head alongside V. Ramaswamy under Trump’s cabinet, bringing significant attention to Dogecoin.

On the other hand, with the Dogecoin lawsuit against Elon Musk withdrawn, market sentiments orbiting the meme token remain bullish. Simultaneously, CoinGape Media reported DOGE whale accumulations to have burgeoned substantially this week. Also, the leading DOGE wallet, MyDoge, announced the launch of DogeOS shortly afterward.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Slips to $90K, XRP Rally, Meme Coins Fall

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4 hours ago

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November 17, 2024

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Cryptocurrency Prices Today: Bitcoin fell below $90K, trading within the range of $87,500 to $93,000 for the past four days. Meanwhile, XRP price broke above $1 after a more than 25% upside in a day, hitting a two-year high. The Meme coins sector saw massive selloffs, with PNUT price dropping by 15%. NEIRO, MOG and POPCAT, PEPE prices tumbled 6-13%.

The global crypto market cap jumped 0.28% to $3.04 trillion, but total crypto market volume dropped by 10% amid selling by traders.

Here’s a brief overview of some of the top cryptocurrencies by market cap and their price movements on November 17.

Cryptocurrency Prices Today: BTC and XRP Hold Market Gains

Bitcoin is trading at $90,416, maintaining its recent strength, While Ethereum (ETH) has declined by 1.81% from yesterday, Solana (SOL) surged, gaining 5.27% and diverging from ETH’s movement.

XRP became the top performer among the leading cryptocurrencies, rising by 12.43%. This boost added to the overall bullish market sentiment.

Bitcoin Price Today

Bitcoin (BTC) is trading at $90,416, reflecting a 0.80% decrease from the previous day. Over the past 24 hours, BTC low and high ranged between $89,417 and $91,763, respectively. Bitcoin market cap stands at $1.79 trillion, with a market dominance of 59.19% and a trading volume of $44 billion.

In an interesting development, a Satoshi-era Bitcoin whale has earned $180 million after holding BTC for 14 years. This impressive gain underscores the remarkable returns that early adopters of Bitcoin have achieved over time.

Ethereum Price Today

Ethereum (ETH) has declined by 1% and is currently trading at $3,122. Its 24-hour low and high ranged between $3,039 and $3,218. Ethereum’s market cap now stands at $371 billion, with a market dominance of 12.31%, and a trading volume of $28 billion in the past 24 hours.

Analysts expect Ethereum price to break through the $4,000 mark, as it remains tightly bound below this critical resistance level.

Solana Price Today

Solana (SOL) has increased by 5.61% over the last 24 hours, with its price now at $233. The coin’s daily low and high have been $212 and $235, respectively. With a current market cap of $110 billion, Solana ranks as the fourth-largest cryptocurrency by market capitalization.

Technical indicators suggest a positive outlook for Solana, with many analysts forecasting a potential rise toward the $1,000 mark in the near future. The coin’s strong performance is seen as a signal of growing investor confidence and interest in Solana’s long-term potential.

XRP Price Today

XRP has rallied impressively, surging 12.3% in the past 24 hours and currently trading at $1.02. The token’s daily low and high were $0.94 and $1.256, respectively, with a substantial 24-hour trading volume reaching $24.05 billion. The price jump today has ranked it as the sixth-largest cryptocurrency by market cap, holding a 2.3% market dominance.

This surge in XRP value comes as the U.S. embraces a more crypto-friendly stance, with plans to support American-origin cryptocurrencies. Additionally, Ripple whales are actively buying after a strong breakout amid a favorable outlook.

Meme Crypto Prices Today

Dogecoin (DOGE) is down by 6.95% and trading at $0.351 with a 24-hour range of $0.341 to $0.389. DOGE has surged 54% over the past week and has gained an impressive 164% over the past month, making it the seventh-largest cryptocurrency by market cap. This surge is reflective of increased investor interest, with meme coins seeing a resurgence in popularity.

Similarly, Shiba Inu (SHIB) has declined by 5.17% and is currently trading at $0.00002408. Over the past week, SHIB is up by 7%. SHIB’s performance over the last quarter, with an 82.61% increase, signals renewed optimism around this popular token, particularly as interest in meme coins remains high.

Other meme coins have also recorded loss over the past 24 hours. Pepe Coin, WIF and BONK are each down between 3-6%, while SLERF token stands out with a significant 42% increase. These price movements underline the broad interest across meme coins, as they continue to capture the attention of the crypto market.

Top Cryptocurrency Gainers Prices Today

Mantra Price Today

Mantra (OM) token has seen a 35% increase in the past 24 hours, now trading at $2.224. The coin’s 24-hour trading range was between $1.660 and $2.723, showing significant volatility. The continued rise suggests growing demand for Mantra’s platform and services.

Sandbox Price Today

Sandbox (SAND) witnessed a 23% surge in the last 24 hours. The coin is currently trading at $0.3606, with a 24-hour low of $0.2957 and a high of $0.3984. The trading volume saw a 450% jump in the last 24 hours.

Stellar Price Today

Stellar (XLM) is trading at $0.19, reflecting a massive gain with a 24-hour low of $0.133 and a high of $0.2010. The 27% change indicates some volatility, but the coin remained steady.

Top Cryptocurrency Losers Prices Today

Peanut the Squirrel

Peanut the Squirrel (PNUT) has dropped by 15% in the last 24 hours, currently trading at $1.59. Its 24-hour low and high were $1.63 and $1.93, indicating some selling pressure over the past day.

Neiro (First Neiro on Ethereum)

Neiro (NEIRO), the first Neiro coin on Ethereum, is trading at $0.002, down by 2.5% in the last 24 hours. The coin’s range for the day has been between $0.002 and $0.0024.

Dogecoin (DOGE)

Dogecoin (DOGE) has seen a 6% decrease in the last 24 hours, trading at $0.3541. The coin’s 24-hour range is $0.3417 to $0.3899, showing volatility compared to some other assets in the market.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Is Cardano Price Poised To Hit ATH Soon?

Published

10 hours ago

on

November 17, 2024

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Cardano price has been on the investors’ radar lately, as evidenced by the recent ADA rally. Besides, a flurry of developments around Founder Charles Hoskinson has also sparked optimism in the market over further rallies. Amid this, market experts have predicted a strong rally ahead for the crypto.

So, let’s explore the potential reasons that may help ADA price to continue its gain in the coming days.

Reasons Why Cardano Price Poised To Hit ATH Soon

A flurry of recent market developments hints at potential ATH for Cardano price soon. For context, in a recent X post, Cardano founder Charles Hoskinson lauded the ADA community, citing it as the “best community” and said that it has the best entrepreneurs as well. Besides, he also predicted the Voltaire update to make the ecosystem the “finest government ever assembled by humanity.”

This post reveals the founder’s confidence in the community, which could extend the ongoing rally in ADA price. Additionally, Charles Hoskinson visiting Elon Musk’s SpaceX office has also sparked speculations, especially given the individual’s growing influence in the US political landscape.

Besides, Hoskinson has recently said that he would support the Trump Government in shaping crypto legislation. He aims to help the US administration in crafting clear regulatory frameworks for digital assets, which have faced regulatory pressure over the past few years.

ADA Rallies As US Appeal Soars

The recent comments from Ripple CEO Brad Garlinghouse have also sparked market optimism. In a recent FOX Interview, Garlinghouse said that XRP, ADA, SOL, and other crypto issued by the US companies have noted strong rallies in recent days, surpassing other crypto. He said that the anticipation over pro-crypto policies under the Republican government has fueled the rally, while many anticipate the Trump rally to continue to benefit the crypto.

Besides, a flurry of market pundits predicts that crypto to note a strong rally ahead. For context, prominent crypto market analyst Ali Martinez said that Cardano price is poised to hit $6 in 2025, further fueling anticipation over the ADA rally to its new ATH.

Cardano price chartCardano price chart
Source: Ali Martinez, X

Notably, ADA price has recently soared past the $0.78 mark, marking its highest level since March 2024. Besides, Cardano Futures Open Interest also rose more than 20% over the weekend, CoinGlass data showed, indicating the growing confidence of the investors.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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