Ripple Destroys SEC, XRP Price Blasts Off

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• Market Pulse
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• Expert’s Stance

Market Pulse ??

???? A lot can change in the cryptocurrency space within 24 hours! Just a day ago, everything was quiet, with most assets trading sideways. ?? However, Judge Torres' decision to rule in favor of Ripple in its case against the SEC has completely turned the tables! ????

?? Somewhat expectedly, XRP is stealing the show today, skyrocketing to a 19-month high at $0.95 at one point! ?? Though it has retraced a bit and currently sits below $0.77, XRP is still up over 66% for the day! ????

???? Other tokens targeted by the SEC in its lawsuits against Binance and Coinbase have also seen mind-blowing gains today! Here are some of the highlights: Solana (27%), Cardano (20%), Polygon (11%), Stellar (51%), and Avalanche (17%)! ??????

?? Ethereum made a strong move and reached $1,995 earlier today, marking a more modest price increase of 6%. ?? BNB, while outpaced by XRP as the fourth-largest cryptocurrency, is still up 4.5% and holding its ground! ????

?? In just one day, the crypto market cap has surged by a staggering 4.97% and currently stands at $1.25 trillion! ???? Bitcoin had been experiencing a lull lately, with a tight trading range between $30,000 and $31,000, but the excitement from Ripple's victory over the SEC has propelled it higher! ?? As a result, Bitcoin surged to $31,1880.? ?? Despite a minor dip, BTC is still up approximately 2% for the day, and its market capitalization has hit $605 billion! ????

The cryptocurrency Fear & Greed Index currently stands at 56, indicating a sentiment of Greed in the market. This suggests that despite the recent price drops, there is still a notable level of optimism and enthusiasm among investors. ????

Biggest Web3 Stories

XRP Blasts Towards $1 as Ripple Wins Against SEC

• Ripple Labs has finally secured a win against the SEC in its two-and-a-half-year-long battle for XRP against the regulator
• However, it's not a complete win.
• In the ruling by NY Southern District Court, Judge Analisa Torres ruled that Ripple’s original coin sale to the public was not in contravention to rules as it was not a security.
• However, the sale of XRP to institutional investors might have been a security offering. Read more

Microstrategy, Saylor To Make Billions In Profits from BTC: Find Out How?

• The next Bitcoin halving is expected to happen in April or May 2024.
• The halving will reduce the amount of Bitcoin awarded to miners, which could lead to some miners becoming unprofitable.
• MicroStrategy has been buying Bitcoin heavily and could make billions of dollars from the halving.
• The halving could also lead to an increase in the price of Bitcoin, which would benefit MicroStrategy and other investors. Read more

24 New CBDCs Could Exist By 2030: Exploring the Future of Digital Currencies

• A Bank for International Settlements (BIS) survey showed that 93% of central banks are interested in central bank digital currencies (CBDCs)
• It reflected the study carried out between October and December 2022 on 86 central banks and their increased demand for it.
• The report showed that most banks prefer retail CBDCs over wholesale due to the former’s distinct attributes and possible extra features
• The more extensive adoption of these digital currencies could positively influence crypto. Read more

Litecoin Dips 13%: Is a $300 LTC Price a Distant Dream?

• Litecoin has been through some rough weather over the last two weeks, with a 13% dip over the last 7 days.
• The cryptocurrency is still one of the best-performing altcoins of the year, with a 75% year-to-date gain.
• The next Litecoin halving is less than a month away, which is expected to drive the price up.
• If LTC bounces off the $95 support level, it has a great chance of rallying further upwards to $138, $168, $198, $236, and finally $295. Read more

Expert's Opinions?

Navodaya Singh Rajpurohit: Legal DAO, Coinque Consulting?

The United States District Court Southern District of New York has given a very balanced summary judgment of granting SEC's motion for summary judgment as to Institutional Sales holding that the sales made pursuant to the contracts signed between Ripple and institutional investors as an investment contract concluding that institutional sales of XRP constituted the unregistered offer and sale of investment contracts in violation of Section 5 of Securities Act and on the other hand denying SEC's motion for summary judgment in terms of Programmatic Sales, Other Distributions, Larsen's and Garlinghouse's sales and their aiding & abetting of Ripple's violations. However, whats interesting here is to see that Ripple's defence of fair notice has been rejected in light of various case laws explaining what constitutes an investment contract against institutional sales which would have wider repercussions for the industry.

Chandan Goswami, Web3 Advocate?

The court ruling brings regulatory clarity to crypto assets/currencies, fostering innovation and investor confidence. It sets a precedent for other jurisdictions, providing legal protection against arbitrary actions. In the US, it will impact securities regulations, prompting compliance adjustments. Furthermore, Ripple's legal position strengthens, potentially influencing the SEC's approach to classifying cryptocurrencies as securities.

US House Majority Whip Tom Emmer?

The Ripple case is a monumental development in establishing that a token is separate and distinct from an investment contract it may or may not be part of. Let’s make it law.

VOC Top Video of the Week

Mastering Wealth Creation: Unlocking the Power of Crypto, Stocks, and Web3 with NinjaTea!

In this video renowned expert NinjaTea presents an engaging and informative video that explores the world of finance and its three major pillars: cryptocurrencies, stocks, and Web3 technologies.? With a focus on wealth creation, NinjaTea reveals invaluable insights and strategies to help viewers navigate these exciting realms. From the volatile yet lucrative crypto market to the time-tested strategies for investing in stocks, NinjaTea shares his expertise to maximize returns and mitigate risks.? ?Watch to know more

VOC Featured Web3 Event

TOKEN2049 Singapore Set to Be World’s Largest Web3 Event With Over 10,000 Attendees

TOKEN2049 is a premier Web3 event, organised annually in Singapore, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry. Read more

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