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Ripple has reached an agreement with the US Securities and Exchange Commission (SEC) to end their four-year legal dispute, as announced by Ripple’s chief legal officer Stuart Alderoty. Under the terms, Ripple will withdraw its cross-appeal, while the SEC retains $50 million of a previously imposed $125 million fine, with the remainder returned to Ripple. The SEC has also requested the court to lift the current injunction, pending formal procedures.
Ripple executives criticized the SEC for refusing to delay its appeal filing, despite a leadership change set for January 20. Chief legal officer Stuart Alderoty expressed confidence in Ripple's position, while CEO Brad Garlinghouse suggested potential shifts in the SEC's crypto enforcement under new leadership. The ongoing case, stemming from a 2020 lawsuit, will head to appellate court following a judge's ruling that XRP does not necessarily qualify as a security.
XRP has emerged as a safe haven asset amidst the volatility of Ethereum, Dogecoin, and Solana, showing a 6% increase over the past month while its peers faced declines of 15-20%. Analysts highlight XRP's significant outperformance, including a 30% gain against Solana and notable strength against Ethereum and Dogecoin. As the Ripple vs. SEC lawsuit approaches its conclusion, the cryptocurrency is gaining traction, with potential support from upcoming crypto policies under President-elect Donald Trump.
Dogecoin surged nearly 11% to $0.357 on Tuesday, recovering from Monday's dip amid high interest rate concerns. XRP also rebounded, reaching $2.66, fueled by optimism over potential ETF approvals and a meeting between Ripple executives and President-elect Trump. Bitcoin climbed to $96,475, up nearly 5%, while Ethereum rose 6%.
A US Court of Appeals ruling on January 13 granted Coinbase a partial victory against the SEC, finding the agency's denial of Coinbase's petition for clearer rules on digital assets insufficiently reasoned. The court has remanded the case, requiring the SEC to provide a more detailed explanation without mandating formal rulemaking. This decision may also influence Ripple's ongoing legal battle with the SEC, as industry advocates call for greater regulatory clarity.
BYDFi has enhanced its perpetual contract system for XRP trading with features like using unrealized profits as margin, a hedging option for simultaneous long and short positions, and cross margin mode for better fund stability. The platform ensures compliance and security with dual MSB licenses, cold wallet storage, and two-factor authentication. As XRP surges in value, BYDFi stands out for its low trading fees and robust liquidity, making it a preferred choice for investors navigating the evolving crypto landscape.
Coinbase has achieved a significant legal victory against the SEC, with the U.S. Court of Appeals for the Third Circuit granting a writ of mandamus in favor of Coinbase’s 2022 petition. The court criticized the SEC's refusal to establish a distinct regulatory framework for cryptocurrencies as "arbitrary and capricious," undermining the agency's regulatory stance under Chair Gary Gensler. This ruling adds to a series of legal setbacks for the SEC, raising expectations for a shift towards clearer regulations in the crypto industry.
A federal court has compelled the SEC to justify its denial of Coinbase’s rulemaking petition, marking a significant moment in cryptocurrency regulation. The Third Circuit Court of Appeals criticized the SEC's reasoning as "arbitrary and capricious," prompting a demand for a more thorough explanation. While some legal experts view this as a minor victory for Coinbase, others highlight the potential implications for outdated regulations in the evolving crypto landscape.
The cryptocurrency market faced a significant sell-off, with Bitcoin dropping to around $93,000, marking a 4.5% decline over the week. Despite the downturn, interest in AI agents remains strong, and Bitcoin's dominance increased by 2%. Long-term holders of Ethereum have surged to 74.7%, indicating a growing confidence in the asset.
Analysts predict XRP could reach new highs between $4 and $9, despite a recent market downturn that saw its price drop to around $2.27. Optimism remains strong, fueled by influential endorsements and a meeting between Ripple executives and the US president, while some warn of a potential crash if XRP fails to close above $4 by March 10.
Stuart Alderoty
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