TL;DR
Ripple has won two significant legal battles against the US Securities and Exchange Commission (SEC), with a trial set for April 23, 2024. Despite the departure of Ripple’s CFO, experts predict a likely win for Ripple in the lawsuit. Major finance firms are awaiting SEC approval to launch Bitcoin ETFs in the US, which could lead to a surge in Bitcoin’s price. Large investors have acquired significant amounts of Shiba Inu despite its price drop, anticipating a potential price rally with the development of its scaling solution, Shibarium.
What’s New Around Ripple?
Ripple and its native token XRP have been making waves in the cryptocurrency space following the company’s two major victories in its legal battle against the SEC. The first victory occurred in mid-July when a federal judge ruled that XRP sales by Ripple did not constitute investment contracts. Recently, the SEC’s appeal against this ruling was dismissed by relevant magistrates.
A trial date has been set for April 23, 2024, between Ripple and the SEC. The outcome of this dispute is significant as a win for Ripple could lead to a bull run for XRP, excitement in the crypto sector, and the establishment of appropriate regulations in the US. Despite the departure of Ripple’s CFO, many analysts and experts believe that Ripple will come out victorious in the lawsuit.
BTC’s Possible Explosion
Bitcoin remains a hot topic in the crypto space. While it has consolidated below $27,000 recently, there are several pending developments that could lead to better days for BTC. Finance giants like BlackRock and Fidelity have expressed their interest in launching spot Bitcoin ETFs in the US, pending SEC approval.
There is speculation that the SEC’s decision on these ETFs could be near, with some suggesting that the regulator may approve them all if they do not appeal a recent court decision. The launch of a Bitcoin ETF in the US could significantly boost Bitcoin’s price and the entire crypto market, as seen in October 2021 when the first futures-backed Bitcoin ETF was approved.
SHIB Whales are on the Move
Despite its recent price decline, Shiba Inu has attracted the attention of large investors who have accumulated over 4.6 trillion SHIB (worth over $31 million) in recent days. These investors stand to make substantial profits if SHIB’s valuation starts to rally. Analysts believe that this uptrend may occur with the development of Shiba Inu’s layer-2 scaling solution, Shibarium, which has recently achieved key milestones.
Hot Take: Ripple Set for Victory Against SEC, BTC ETF Approval Could Boost Price, SHIB Whales Accumulate
Ripple’s legal victories against the SEC have positioned the company for a potential win in their upcoming trial. The approval of Bitcoin ETFs by the SEC could lead to a surge in Bitcoin’s price and overall market excitement. Additionally, large investors accumulating Shiba Inu suggest a potential price rally as its scaling solution progresses. These developments highlight the ongoing evolution and growth of the cryptocurrency industry.
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