DeFI News by Thebittimes.Com

A New York District Judge approved a request by Ripple Labs to pause the $125 million penalty imposed in the company’s ongoing lawsuit with the US Securities and Exchange Commission (SEC). The order, signed by Judge Analisa Torres of the Southern District of New York, grants both Ripple and the SEC additional time to appeal the recent ruling. Despite the pause, Ripple executives, including CEO Brad Garlinghouse, have indicated they have no plans to appeal the decision. Garlinghouse hailed the ruling as a “victory for Ripple,” while the company’s legal officer, Stuart Alderoty, confirmed that Ripple would “respect the $125 million fine.” The stay in the Ripple SEC case will last for 30 days after the time the appeal expires or the resolution of any appeal in the case.  The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to co...

The CRYPTOCURRENCY realm is abuzz with a staggering PRICE PREDICTION for $ XRP , the native token of the XRP Ledger . The forecast points to an eye-catching 1,160% price increase, potentially elevating the CRYPTOCURRENCY ’s value to $6.7. This bullish sentiment is especially notable given XRP ’s consistent performance, maintaining its stance above a decade-long trendline support visible on its monthly chart. Egrag Crypto, a renowned crypto analyst, fueled this optimism. Taking to the microblogging platform X (previously known as Twitter), Egrag enlightened followers on significant percentage leaps during major price rallies. A central thesis in this Analysis hinges on the belief that significant “candle pumps” should manifest a 300% growth, if not more. Analyzing these movements with precision, Egrag extrapolates a potential 1,160% surge in XRP’s price. This recent analysis augments Egrag’s prior insights, which probed a 4-month timeframe, offer...

CoinMarketCap ranks XRP as the sixth-largest cryptocurrency by market capitlization. It was created in 2012 by Jed McCaleb and David Schwartz to serve as the native currency for the XRP Ledger. The XRP Ledger is an open-source, permissionless technology. It stands out for its low cost, scalability, speed, and carbon neutrality. After increasing from $0.43 to $0.53 last month, and before declining to $0.45, the token showed a bullish sentiment. Since May 2022, the cryptocurrency has been repeatedly rejected at $0.50 levels and is unable to cross that threshold. In new interest data collected from CoinMarketCap, the trading volume of XRP skyrocketed by over 1520%. Let us look at what triggered the soar in trading volume. XRP trading volume soars, price remains stable As per the recent data, the 24-hour trading volume hit $19,140,768,909 before dropping back to the current trading volume of $1,391,815,949 . The CEX trading volume during that period also stood at $19.66 billio...

Ripple has announced the second lineup of its $250 million Creator Fund recipients. The announcement follows the recent vote that would eliminate the bug barring NFTs (Non-fungible tokens) on the XRP ledger (XRPL). As previously reported, NFTs on Ripple was pushed due to a bug that could be exploited by malicious players. The vote to eliminate the feature already has the 80% necessary votes. However, voting does not end till the 27th of October. As per the vote, NFTs on the XRP ledger might just show up as soon as voting concluded. Ripple announcing the second list of recipients of its Creator Fund further adds weight to the possibility of NFTs appearing on XRPL sooner than previously anticipated. Among the new recipients is the metaverse platform 9LEVEL9, which will sell tickets to virtual events as NFTs. Fan-focused Japanese NFT marketplace Anifie, NFT sports platform Capital Block, XRP NFT marketplace NFT Master, NFT IP company SYFR Projects, NFT membership project Th...