This past week, the crypto market saw a mix of legal battles, exchange updates, and token listings that shaped investor sentiment across the industry. Here’s a summary of the most significant developments.
Ripple Files Cross-Appeal in XRP Lawsuit
Ripple made headlines by filing a cross-appeal in its ongoing legal case with the U.S. Securities and Exchange Commission (SEC). The cross-appeal, submitted to the U.S. Court of Appeals for the Second Circuit, challenges aspects of the final judgment in Ripple’s lawsuit regarding its XRP token. This move follows the SEC’s own appeal, as both parties continue to battle over regulatory issues tied to XRP’s classification as a security.
The XRP price has responded with a slight gain of about 1% over the past week, now trading at $0.537. Large holders, or “whales,” have also been actively moving significant amounts of XRP, likely in reaction to the latest lawsuit developments.
Binance & Robinhood Expand Crypto Trade Offerings
Both Binance and Robinhood made moves to enhance their crypto offerings this week. Binance announced the withdrawal and conversion of ten tokens, including TORN, WAVES, and OMG, among others. The exchange also listed Scroll (SCR) as the 60th project on its Launchpool, further expanding its portfolio of supported assets. Additionally, Binance introduced support for BNSOL (Binance staked SOL), creating a sense of optimism among traders.
Robinhood Crypto EU also made a notable update by adding Render Network (RENDER) to its platform, spurring excitement among investors. Many expect a price rally for RENDER, potentially reaching $10 in the near future.
Market Response and Broader Trends
Amid these updates, the broader crypto market saw minor gains. Bitcoin (BTC) rose by 1%, closing the week around $62,000, while XRP followed suit with similar price increases. The market continues to navigate the impact of the latest U.S. Consumer Price Index (CPI) report, with volatility expected to persist as regulatory and macroeconomic factors influence crypto trading.
Overall, these developments underscore the dynamic nature of the crypto market, with legal, regulatory, and exchange-related events driving investor sentiment and market movements.
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