Ripple Denies Charges
The SEC said it would dismiss the case against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen over whether they were liable for their participation in illegal securities sales. Ripple Labs Chief Legal Officer Stuart Alderoty celebrated the dismissal of all charges against its executives in an ongoing case by the Securities and Exchange Commission. He then said on X (formerly Twitter), “The SEC made a serious mistake by going after Brad and Chris, and now they have surrendered. They have denied all charges against our executives. This is not a settlement. This is a capitulation by the SEC. ” he said. XRP rose 3.7% to $0.51 on the news.
France May Get Support from Ripple for Its Digital Currency
Backed by references from Banque de France, there is talk that France could use XRP for the digital euro. Previously, Bhutan and Montenegro partnered with Ripple for CBDC. The Royal Monetary Authority (RMA), Bhutan’s central bank, partnered with Ripple in 2021 to launch a digital version of its official currency, develop digital and cross-border payments, and expand financial inclusion efforts. Earlier this year, the Central Bank of Montenegro also collaborated with Ripple to develop a strategy for its CBDC.
FTX Uses Client Funds to Buy Back Binance Shares
Bankrupt crypto exchange FTX used customer funds to buy back all of its shares in rival exchange Binance, a hearing revealed on Wednesday. Binance CEO CZ said in a statement in 2022 that as part of the buyback, the company received over $2.1 billion worth of BUSD stablecoins and FTT tokens.
Morgan Stanley Says “Crypto Winter May Be a Thing of the Past”
According to a new report by Morgan Stanley, the cyclical bear market, dubbed the “crypto winter”, may be coming to an end. “Based on current data, signs suggest that crypto winter may be a thing of the past and crypto spring is likely on the horizon,” said Denny Galindo, Director at Morgan Stanley. The investment bank analyzed several metrics that have historically marked the bottom for Bitcoin, including the time since the last peak and the magnitude of the decline.
BlackRock Says New ETF Application Lacks Transparency
The cryptocurrency market is unregulated and opaque, BlackRock said in a new Bitcoin ETF filing with the US Securities and Exchange Commission (SEC). In its application, BlackRock stated that the Bitcoin market is not yet fully mature and therefore poses risks for investors. The company highlighted risks such as market volatility, lack of order and the risk of fraud. Despite these risks, BlackRock believes that Bitcoin ETFs can be a viable investment vehicle for investors. The company stated that Bitcoin ETFs provide investors with access to the cryptocurrency market and the opportunity to benefit from this market.
Chainalytics Says Cryptocurrency’s Role in Terrorism Financing Overstated
Blockchain analytics firm Chainalytics has debunked media reports and analysis that exaggerate the role of cryptocurrencies in terrorism financing. In a recent report aimed at correcting false rumors about terrorists using cryptocurrency to fund their operations, Chainalytics data revealed that digital assets play a minor role in this activity.
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BITCOIN(BTC)
Bitcoin is priced at $ 29,300 with a 2% gain in value as of today morning hours. After being repeatedly rejected at 29,000, it now seems to have broken this level. Our next resistance is 29,500, and after exceeding this in volume, we have the possibility of going up to $ 30,000. In any movement below 29,000, 28,600 may work as new support.
ETHEREUM(ETH)
ETH, which gained 1.12% as of morning hours, is priced at $ 1583. Yesterday we mentioned that there is a strong demand zone. With the reaction it received from there, it has broken above $1582, a critical level. Its next target is to achieve persistence above $1600. 1600 dollars is likely to work as resistance, but slowly, volume is starting to enter cryptocurrencies. If there is a loss of the $ 1582 level, there may be a retreat to $ 1570 again.
RIPPLE(XRP)
XRP is priced at $0.5136 with a 1.15% loss in value as of morning hours. It rose by 8% after the news in the evening. It broke above its most critical level of $0.50 and is now correcting. It may correct first at $0.51 and then at $0.50. In case the movement continues upwards, 0.5384 seems to be the first resistance zone.
AVALANCHE(AVAX)
AVAX is priced at $ 9.22 with a 1.77% gain as of morning hours. We were also in a very strong demand area in AVAX. AVAX broke above $ 9.20, a critical level, with the reaction it received from here. If the movement continues upwards, it may want to go up to $ 9.40 first and then $ 9.60. In case of a downward correction, $ 9 can work as support.
SOLANA(SOL)
SOL is priced at $ 26.42 with a 5.94% gain in value as of morning hours. SOL, which broke the 24.33 resistance we mentioned earlier, continues its upward movement by breaking the resistance zone at 25.60. The first resistance level to follow after this point seems to be 27.15. If we can see persistence above the 27.15 level, it may be possible to see an increase up to the $ 29 level. In downward pullbacks, the support points to follow are 25.60 and 25 dollars.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 7.448 with a gain of 2.01%. LINK, which has been moving horizontally since the beginning of the month, continues to move within a band with an upper level of 7.732 and a lower level of 7.125. Inside this zone, the 7.40 level appears as intermediate resistance. If LINK, which is momentarily trading above the intermediate resistance level, can maintain this level, it may be possible to see an increase up to the upper band of 7.70. The support levels are 7.30 and 7.125.
TOMO
TOMO is pricing at 1.5163 with a gain of 1.08% as of morning hours. When we examine the 4-hour chart, we observe a horizontal movement between 1.3450 and 1.53 levels. With the break of the resistance level of 1.53 dollars, it may be possible to see an increase up to 1.61. 1.48 can be followed as support levels. With the loss of this level, it seems that there may be a retreat to 1.42 levels.
