Ripple partner MoneyGram gave bad news!

The first hearing of the securities case against Ripple took place today. One of the most striking statements in the hearing is undoubtedly the allegation that Ripple directed to the US Securities and Exchange Commission (SEC).

First Hearing in Ripple Case

Ripple lawyers stated that the SEC met with many cryptocurrency exchanges and cryptocurrency companies regarding XRP in 2019 and before. The critical point of these negotiations was that the SEC did not warn the relevant companies about this, although the Ripple investigation continued at that time.

The SEC argues in the case file that XRP is a security and Ripple has been generating revenue from the sale of it for years. Ripple, on the other hand, emphasized that there is uncertainty about this and that even the SEC is aware of this and does not tell the exchanges that it is actually discussing that XRP is a security.

MoneyGram Abandons Ripple

While this news seems relatively positive for Ripple, there was some pretty bad news from one of the company's biggest partnerships. MoneyGram, where Ripple even bought millions of dollars of shares, will no longer work with Ripple because of the lawsuit.

In the report, which announced the financial balance for 2020 by MoneyGram, it was emphasized that there are no plans to work with Ripple for 2021. MoneyGram emphasized that Ripple will not receive the XRP payments it makes to the payment giant as a market development fee. MoneyGram cited the reason for this as the uncertainty created by the SEC lawsuit.

Partnership Racked Up?

Ripple pays a certain amount of XRP to MoneyGram each period, emphasizing that this is the market development fee. It is among the allegations that MoneyGram even established the partnership in question for this reason. Now, the fact that this income will not be paid and accepted by MoneyGram shows that Ripple's partnership is in theory shelved.

In the statement made by the company, it was also stated that Ripple has received a market development payment of $ 12.1 million so far. It is also unknown whether MoneyGram will be penalized for these in a possible bad result.

The XRP price, on the other hand, rose with relatively good news from the hearing before this development, and is up 3.8% as of the time of this writing. It is seen that XRP price has increased by 10% on the chart of the last 24 hours. How the MoneyGram news will affect Ripple will be clear in the long run.

Last Minute: XRP Price Soared With News From Ripple Case!

Ripple started suppressing the SEC.

Today was a very important day for XRP , one of the projects with the largest investor base in the crypto money industry . The pre-hearing of the securities case filed against Ripple by the US Securities and Exchange Commission (SEC) was officially held today.

First News from Ripple and SEC Case

Although there is no news from official sources about the hearing yet, people attending the hearing report the developments instantly. Not only the Ripple and SEC team, but also the lawyers of the exchanges that listed XRP were present at the pre-hearing, which started on February 22 and at 18:00.

Crypto money investor Jesse Hynes, who attended the hearing held in the form of a teleconference, shared a very important information. Although Hynes did not give general information about the pre-hearing, he explained the development that marked it. According to the information quoted by Hynes, the biggest incident was a statement from Ripple to the SEC.

SEC's Vulnerability Found

According to the reported information, Ripple has evidence that the SEC did not contact the exchanges in 2019 and inform them that XRP was suspected of securities. Ripple lawyers claim that the US financial regulator contacted exchanges in 2019 and before, but did not tell any of them that XRP could be a security.

The SEC was normally supposed to warn exchanges and state that they are selling securities. However, according to Ripple lawyers, the fact that this was not done at that time creates indecision and uncertainty in the case now opened.

After this development, the XRP price rose by 3% as of the time the article was written, reaching up to $ 0.58. The XRP price has been reddered again since this news was updated. Ripple's recent statements may also have contributed to this.

Ripple CEO's Defense

Attorney Matthew Solomon, representing Ripple CEO Garlinghouse, stated that the CEO has already made a request for the case to be dropped. Solomon stated that as the case continued, the SEC was at fault and, although he knew the securities risk of XRP, he did not declare it. According to the famous lawyer, as the case continues, it will be proven that XRP cannot be a security and the lawsuit will be dropped.

In addition, Garlinghouse's claims that he manipulated the market with XRP sales were also denied by his lawyer. The lawyer emphasized that XRP is viewed as an investment contract and Garlinghouse is not selling knowing that it is XRP.

Ripple's Big Step: Revolutionizing XRP Network Feature Introduced

 

Ripple's Big Step: Revolutionizing XRP Network Feature Introduc

A new development announcement for #XRP has arrived from Ripple developers!

XRP investors encountered the term "IOU" with the #FLR airdrop event to be held by the Flare Network. #IOU means "I own You" actually represents the ownership right of tokens that have not been released yet. The XRP team changed this and announced that it will now be used directly instead of the IOU. As might be expected, this is not the real step the team behind XRP has taken.

🚨XRP Labs Changes IOU System🚨

In the latest post shared by XRPL Labs , it was signaled that IOUs will now be called tokens and that too many new tokens could be produced on the XRP Ledger. Stating that assets, once known as IOUs, are traded on exchanges such as Bitstamp and GateHub, they form a bridge between the fiat world and XRP Ledger, emphasizing that the definition is actually token. The good news of the team was the NFTs that will come with smart contracts.

#NFTs, which entered the crypto money market with the Ethereum ecosystem, are on the agenda of all crypto money investors recently. These collection-oriented tokens, with millions of dollars in purchases, are seen as the new trend of the industry. The XRPL Labs team, on the other hand, stated that with the IOU, the token system, NFTs can now come to the XRP network.

🚨Different From Ethereum Network🚨

The statement admitted that the method may actually be a little different than on the Ethereum network. Despite this, the team stated that this is definitely possible and signaled that someone is already working on this issue. NFTs have attracted the attention of not only the cryptocurrency industry, but also many outside the industry, and they are definitely promising.

Dan Kelly, CEO of the #NonFungible platform, recently made an important NFT announcement. Kelly stated that 2020 is a historic year for NFTs, and the real development will be in 2021. NFT sales increased by 2,800% in 2020. Some products sold at record prices of $ 100 million fueled this interest.

🚨A Key Milestone For XRP🚨

If the XRP network has such a function, it can be very critical for the Ripple price . XRP, which was pegged in place with the tension before the trial and could not go above $ 1, can take important steps with this development. Of course, it is important that this is implemented and not stay with work.

XRP Price Continues Blood Loss: $ 4 Billion Flew!

The blood loss experienced by the XRP price continues at full speed.

XRP, the third largest cryptocurrency by total market cap, saw the bottom with news from the US. It seems that XRP price has declined more than 17% in the last 24 hours and has declined to $ 0.46. XRP, which has experienced a slight recovery in the last 7 hours, has reached the point of $ 0.48, but the loss is very, very big.

XRP Loses $ 4 Billion With Lawsuit News

XRP has lost nearly $ 4 billion in total market value in the last 24 hours alone, with the news of a possible lawsuit from the US. With a total market cap loss of $ 4 billion, Tether, right behind XRP, seems to have fallen very close to the total market value. As can be expected, this poses a great risk for XRP.

The fact that XRP is very close to Tether, the fourth largest cryptocurrency by total market cap, increases the risk of it being retaken. When something similar happened in mid-2020, and XRP fell to fourth place in terms of total market capitalization, Tether took third place for months.

Does Ripple Have a Plan B?

So what can Ripple do in such a situation and how can it survive? In fact, it is known that Ripple does not have a large user base in the USA. CEO Garlinghouse previously stated that only 5% of XRP investors are in the US.

In the continuation of this statement, Garlinghouse signaled that they could move to other countries due to the regulation uncertainty in the USA. As can be guessed, Japan was the closest to Ripple among these countries. Japan's financial regulator even made a decision that XRP is not a security.

Moving Ripple Could Work

If Ripple decides to leave the US and move to Japan after a SEC lawsuit, this could minimize the damage for XRP. Still, there is a chance that the XRP price could be adversely affected by a possible SEC lawsuit.

Although there are not many XRP users actively in the US, a significant portion of the corporate names that Ripple has partnered with have transactions related to the USA. This indicates that the decision of the SEC is becoming more important than ever.

Although no lawsuits have yet been filed against XRP and Ripple by the SEC, it is considered certain that the lawsuit will be filed, and its finalization could lead to a sharp decline for the XRP price .

Last Minute For XRP: Ripple CEO Announces, XRP Price Crashed!

SEC case is coming to Ripple!

Ripple (XRP), the third largest cryptocurrency by total market cap, has dropped 16% as of the time of this writing and continues to decline. Behind this drop in the XRP price are both Bitcoin's general correction and the Ripple CEO's lawsuit statement.

Lawsuit against XRP and Ripple

According to the information provided by Fortune, Ripple CEO Brad Garlinghouse and other co-founder Chris Larsen will be sued directly by the US securities regulator SEC. Ripple CEO Garlinghouse said in a statement on the matter that SEC Chairman Jay Clayton was "shamefully prepared to sue them."

Garlinghouse emphasizes that the SEC will sue Ripple prior to the presidents' transition and will leave all paperwork to the new president. Making a statement on the subject on Twitter, Ripple's CEO stated that this will be the last move of Jay Clayton, who is still SEC Chairman.

SEC Wages War on Innovation

The famous CEO stated that the US is trying to "choose winning projects and restrict innovation", adding that this is exactly the purpose of the SEC. Emphasizing that Ripple will continue to use XRP, Garlinghouse stated that it is the best digital asset for payments, thanks to its speed, transaction fee and scalability.

It is known that the SEC has always won against the crypto money projects that it has sued before and came out as the winning party in the lawsuits. So what exactly does the SEC's lawsuit against Ripple mean?

Ripple (XRP) Price Prediction: Will Trouble End For XRP?

XRP price continues to melt against Bitcoin.

Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.

XRP Price Continues To Fall

Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost 1 week, XRP is unable to test even the all-time record, even the weekly high.

When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.

The Fall of XRP Could Be Very Hard

In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.

XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance not being overcome. Currently, the XRP price seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it can cause $ 0.78 to be seen suddenly.

The Ascension Can Be Fierce

The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.

Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.

Check how many FLR you will receive

Announce: @FlareNetworks Spark (FLR) claim amounts are now available. Look up your XRP wallet address to see the amount of FLR you may receive. Powered by @TowoLabs - https://t.co/Qvet62dMnP https://t.co/9F66thbO8l

Ripple (XRP) Price Prediction: Will Trouble End For XRP?

XRP price continues to melt against Bitcoin.

Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.

XRP Price Continues To Fall

Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost a week, XRP is unable to test even the weekly high, let alone the all-time record.

When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.

The Fall of XRP Could Be Very Hard

In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.

XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance. Currently, the price of XRP seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it may cause $ 0.78 to be seen at a time.

The Ascension Can Be Fierce

The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.

Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.

Altcoin Rally To Begin, XRP To Reach $ 1, According To Master Analyst

A cryptocurrency analyst who predicted the major collapse of Bitcoin (BTC) at around $ 4,000 earlier this year says a major altcoin rally is approaching.

The anonymous analyst, known as il Capo Of Crypto, shared his predictions of Bitcoin 's market dominance to 29,000 Twitter followers . The analyst used the following statements:

“I think Bitcoin dominance will drop to 50% in the coming weeks. That means GREAT altcoin season. "

The analyst sees XRP as one of the main altcoins he is particularly considering. He says that the third largest cryptocurrency experienced a clean break in a symmetrical triangle that formed when it hit a last year's high of $ 0.76. In a few weeks, he predicts that XRP will be at $ 1.00 and experience a return to an all-time high when it breaks the historical resistance of $ 1.18.

The analyst's latest chart shows that XRP returned to its all-time high of $ 2.80 in May of next year.

The trader also continues the bullish sentiment in Bitcoin after the massive rally that hit an all-time high of $ 23,642.

"If BTC continues to follow this path, we will not see under $ 20,000 again."

In the short term, Capo believes BTC can fix the $ 22,000 low region before rising to $ 24,750.

XRP Coin Chart: With Ripple Price Increase, There Was An Explosion In Transaction Volume!

The rise in the price of Ripple has increased the transaction volume and thus the demand for XRP has also increased.

We wouldn't be wrong if we stated that XRP, the third largest cryptocurrency by market value, has revived as of yesterday. XRP, which started its own bull run with Bitcoin's (BTC) rally, is trading at $ 0.58 at the time of writing. However, it rose as high as $ 0.65 before XRP experienced a pullback.

Ripple Price Rising

According to the resulting tables, when the price of XRP rose from $ 20,000 to $ 23,800 a night, it was locked in the price of the leading cryptocurrency and Ripple went up with BTC. In addition to the price increase, Ripple's market value increased, just like Bitcoin, and rose to over $ 29 billion.

In addition to Ripple, there was an increase in almost all altcoins yesterday. However, XRP seems to have the best performance among the top ten cryptocurrencies, especially in terms of market volume. In addition, The Graph (GRT), which Binance and Coinbase listed at the same time, suddenly experienced a serious rise last night . As soon as the GRT was launched, it reached a total market value of $ 175 million, ahead of many cryptocurrencies.

Mixed Price Movements of XRP

In fact, when looking at the table for the last month, it is seen that Ripple did not draw a very clear picture and even has a mixed graphic. Ripple price, which was in the $ 0.27 band on November 15, almost took flight after the upward trend in the market and the Spark airdrop announcement, and the price saw $ 0.78 on November 24.

Then the Spark airdrop excitement faded and a new consolidation process began in the market. Interestingly, XRP declined at the same time as it rose. Although lows of $ 0.27 were not seen, there was a retracement to $ 0.43.

However, as we mentioned above, XRP has locked into BTC with the latest price movements and has started to rise. As XRP moves with Bitcon, it is currently thought that the price of Ripple will be determined by the movements of BTC.

Huge Increase in Ripple Transaction Volume

According to CoinMarketCap, during the recession period before the rally, the 24-hour trading volume of XRP was worth approximately $ 10 billion. However, after the rally, it is seen that this figure almost doubled to $ 19.2 billion. This shows that the demand for XRP has increased with the price movements in the market .

Nevertheless, it should be noted that the volume seen when XRP reached $ 0.78, the peak of 2020, was in the $ 33 billion band, and the current figure is well below this level.