Ripple CEO’s Optimistic Remarks to Keep XRP Supported
On Wednesday at Ripple Swell, Ripple’s annual conference, Ripple Labs CEO Brad Garlinghouse discussed the cryptocurrency industry’s rebound since the FTX collapse.
Recently, FTX initiated bankruptcy proceedings under Chapter 11.
As I said on stage – I firmly believe that crypto will be stronger because of this if we keep focusing on transparency and trust. Ripple has and will continue to lead in this regard.— Brad Garlinghouse (@bgarlinghouse) November 16, 2022
The following is a tweet from Garlinghouse that is essentially a repeat of his conference speech:
I firmly believe that crypto will be stronger because of this if we keep focusing on transparency and trust. Ripple has and will continue to lead in this regard.
In a subsequent tweet, he elaborated on the need to meet in person to discuss how to apply blockchain and cryptocurrency technology to real-world issues.
“With all that’s happening in the past few weeks (and over the course of this year’s ups and downs), it feels even more imperative that we’ve gathered together in person to have honest conversations about solving real-world problems with crypto and blockchain,”
To CNBC on Wednesday, Garlinghouse said that the concept that crypto is not regulated is “overstated,” adding:
Crypto has never just been sunshine and roses and as an industry, it needs to mature … Transparency builds trust.
Ripple’s chief counsel, Stuart Alderoty, told the press source on Friday that the business is actively seeking a license in Ireland to fuel EU expansion.
SEC Proponent Fails To File Amicus Brief In Ripple Lawsuit
Accredify, now known as InvestReady, an SEC supporter, missed the deadline for filing an official amicus brief in the ongoing dispute. This was brought up by attorney Jeremy Hogan when he relayed information from James K. Filan regarding the status of the amicus briefs. Groups filed 14 separate amicus filings in support of Ripple, like the Chamber of Digital Commerce, TapJets, and I-Remit.
Accredify failed to file its Amicus Brief on behalf of the SEC by the deadline last night.— Jeremy Hogan (@attorneyjeremy1) November 19, 2022
So that leaves the final tally at 14 for Ripple and 1 for the SEC.
For you Americans: Ripple scored 2 touchdowns and the SEC got a...one point safety? https://t.co/wGFfn4GNWR
Accredify, a company that helps verify investors’ eligibility for digital equity investments, asked the court for leave to write an amicus brief in support of the SEC’s move for summary judgment the day before the deadline for such requests.
The arguments put forth by Ripple, according to InvestReady’s proposed brief, “are a house of cards that is crumbling faster than Luna’s price.” Since XRP was promoted by a single organization, InvestReady said, it too was a security.
There was only one amicus brief filed in support of the SEC’s position because InvestReady (Accredify) missed the deadline of November 18.
The New Sports Economy Institute, in an amicus brief supporting the SEC, argued that the Howey test is still the “gold standard” before the deadline of November 18.
By this point, all briefing should be finalized, and Judge Torres’ ruling will be awaited.
XRP Price Prediction
The current XRP price is $0.3725, and the 24-hour trading volume is $873 million. In the last 24 hours, XRP has dropped over 2%. CoinMarketCap currently ranks #7, with a live market cap of $18 billion. There are 50,298,735,565 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins.
The XRP/USD pair is trading sideways on the daily chart, with immediate support near $0.3650. The 50-day moving average is near $0.3785, and a bearish crossover below this level will likely send XRP to $0.3650 and $03400.
On the bullish side, a double-top pattern is extending resistance at $0.400, and a bullish crossover above this level could expose XRP to $0.4265 or $0.4540.
On the downside, XRP is probable to gain immediate support near $0.3650, and a break below this level may open the door to further selling until $0.3410.
New Crypto Presales
In addition to Ripple, new presale coins are performing well and gaining traction. Let’s take a look at them one by one.
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides traders of all skill levels with real-time analytics and social data, allowing them to make more informed decisions.
It began its token sale three weeks ago and has raised over $6.6 million. It also announced the launch of its first CEX listing on LBank exchange.
1 D2T is currently worth 0.0513 USDT, but this is expected to rise to $0.0533 in the next stage of sales and $0.0662 in the final stage.
Calvaria is a brand-new cryptocurrency gaming project with the potential to dominate the play-to-earn market. According to Calvaria developers, one of the main barriers to widespread Web3 gaming adoption is that games require users to have technical knowledge of crypto. As a result, a large number of users are excluded.
Calvaria allows users who do not own cryptocurrency to participate in the game, distinguishing it from the competition and opening up the game to a whole new audience. RIA’s resale is picking up steam, with the project already in stage 4 of 10 and nearly $1.8 million in funding.
At the moment, 1 RIA token costs $0.025, but this will increase incrementally with each subsequent stage of the presale, which is currently in Stage 4.
Another project with the potential to change the gaming community and the virtual world is RobotEra (TARO). Although the asset’s presale has only recently begun, there is already a lot of interest from potential buyers.
The platform’s native token is TARO, and it is a blockchain-based Metaverse where users can create avatars and explore a digital world. Players in RobotEra can buy land, build on it, and expand their regions with various assets.
RobotEra also has a shared metaverse where users can participate in a variety of activities such as sports, concerts, and other competitive events. The first stage of TARO’s presale is now live, and it is quickly selling out.