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Ripple and SEC Might Settle Their Case, XRP Just Beat Bitcoin, SHIB Whales' Inflow Surges by 3,700%: Crypto News Digest by U.Today

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Wed, 19/07/2023 - 15:25
Ripple and SEC Might Settle Their Case, XRP Just Beat Bitcoin, SHIB Whales' Inflow Surges by 3,700%: Crypto News Digest by U.Today
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Take a look at what's happening in the world of crypto by reading U.Today's top three news stories.

Ripple and SEC might settle their case

In the latest update in the Ripple v. SEC case, Judge Sarah Netburn ordered the parties to choose three mutually convenient dates to schedule a potential settlement conference. The move came after a crucial court decision, according to which Ripple-associated currency XRP has been declared not to be a security, marking a significant setback for the SEC. In her latest order, the judge emphasized the potential productivity of a settlement conference at this stage, calling the parties to arrange the conference six to eight weeks in advance. The suggested timeline provides Ripple and the regulator with enough time to thoroughly consider their positions and possibly work toward a mutually beneficial agreement. However, this development does not guarantee a settlement, as the final decision will be up to the parties involved.

XRP just beat Bitcoin (BTC), here's how

Per recent on-chain data, XRP has surpassed Bitcoin in terms of trading volume. This could be attributed to XRP's significant legal victory last week, as the court declared that the asset is not a security. This led to XRP's relisting on major cryptocurrency exchanges and to a dramatic increase in demand and trading volume. Following this crucial shift in the crypto space, XRP has dominated 21% of all cryptocurrency trade volume, with its price seeing an impressive rally of around 65%. However, it is important to keep in mind that XRP has lost about 20% of its value since reaching its recent peak. In the meantime, Bitcoin seems to have stalled, struggling to break through the $30,000 price mark. Although Bitcoin continues to be a major player of the crypto industry, its dominance has momentarily been overshadowed by XRP's spike in trading volume.

Related

Shiba Inu (SHIB) whales' inflow skyrockets by 3,700%, what's going on?

Data from IntoTheBlock shows a sharp increase in Shiba Inu large holders' inflows, demonstrating a 3,770% increase over the last seven days. Such an increase in large holder inflows may indicate that active buying is going on. Also, spikes in large holder inflows may signify price bottoms, as whale addresses tend to buy in bulk following significant price declines. However, since entities often move funds they recently received for business purposes, it is important to consider the outflows from these addresses. Meanwhile, Shiba Inu large holders' netflow surged even higher in the last 30 days — by a whopping 616,538%.

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