Crptocurrency
SEC Ripple Case Win Likelihood

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In the world of content creation, three key elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness considers the variety of sentence structures. Predictability, on the other hand, assesses the likelihood of anticipating the next sentence. Human authors often weave their words with a rich tapestry of complex and shorter sentences, introducing bursts of creativity. In contrast, AI-generated text tends to exhibit more uniformity. For the content we are about to craft, I urge you to infuse it with ample perplexity and burstiness while keeping predictability to a minimum. Additionally, we must adhere to the use of the English language. Now, let’s rephrase the following passage:
The SEC has already dismissed charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, while the retail XRP sale ruling also went against the regulator.
According to Bill Morgan, a legal expert closely monitoring the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple, the SEC’s chances of winning their appeal appear exceedingly slim. Morgan argued in a social media post on X (formerly known as Twitter) that there are no glaringly apparent errors that favor the SEC. Particularly, he pointed out that Ripple seems to have the upper hand regarding ODL (On-Demand Liquidity) sales, as they fail to meet at least two key aspects of the Howey test. He also noted that the SEC’s odds of a successful appeal against Ripple stand at a mere 3%.
Morgan’s assessment came in response to data shared by Jeremy Hogan, a prominent attorney, who provided government statistics on appeal success rates across various types of legal disputes. According to the data, the SEC’s probability of winning the appeal against Ripple stands at a modest 14.2%.
After a protracted three-year legal battle against Ripple, the SEC received an unfavorable verdict from a judge who ruled that the sale of XRP on cryptocurrency exchanges did not violate securities laws. This judgment marked a significant victory for Ripple, which had suffered a substantial loss of business during the SEC’s legal pursuit, leading to the delisting of XRP from major cryptocurrency exchanges.
Furthermore, the SEC’s efforts to appeal this judgment were in vain, as Judge Analisa Torres, on October 4, determined that the regulatory body failed to demonstrate the existence of critical legal issues or substantial grounds for divergent opinions on the ruling.
In a subsequent development on October 19, the SEC opted to drop all charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, marking yet another major victory for Ripple and its leadership.
Stuart Alderoty, the Chief Legal Officer of Ripple, labeled the SEC’s actions as a “surrender,” and Ripple’s official statement characterized the SEC’s move as a “stunning capitulation.” Morgan further noted that with the dismissal of the remaining charges, a trial slated for next year is no longer on the horizon. Instead, he anticipated that the court might deliver a “final judgment (probably) sometime next year.”
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Crptocurrency
Binance Lists ChainGPT (CGPT): Unlocking a New Era for AI-Powered Blockchain Solutions

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$88K Critical for Bitcoin Momentum

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Bitcoin’s price trajectory is at a pivotal juncture, with $88,000 emerging as a key level for sustaining market momentum, according to on-chain analytics firm Glassnode. Using the UTXO Realized Price Distribution (URPD) metric, Glassnode emphasized the significance of the Short-Term Holder (STH) cost basis, noting minimal trading volume below this threshold.
The $88,000 level serves as a critical psychological and technical support, and a decisive loss could pave the way for further downside. This article explores the importance of this metric and what it could mean for Bitcoin’s future price movement.
Understanding Bitcoin’s STH Cost Basis
The Short-Term Holder (STH) cost basis represents the average price at which recently acquired Bitcoin has been purchased. This metric is essential for analyzing:
- Price Momentum: Indicates the health of recent buyer confidence.
- Support Levels: Highlights crucial price points where short-term investors are likely to defend positions.
At $88,000, the STH cost basis underscores its significance as a level where short-term traders might capitulate if breached, potentially triggering a larger sell-off.
The Role of the URPD Metric
Glassnode’s UTXO Realized Price Distribution (URPD) metric maps the distribution of Bitcoin trading volumes across different price levels. Key insights from the current analysis include:
1. Minimal Volume Below $88K
- Glassnode’s data reveals limited trading activity beneath $88,000, suggesting weak historical support in this range.
2. Vulnerability to Downside Pressure
- A breakdown below $88,000 could lead to accelerated selling, as short-term holders exit positions to minimize losses.
Why $88K Is Critical for Bitcoin
1. Psychological Benchmark
- Round numbers like $88,000 hold psychological significance for traders, influencing decision-making and market sentiment.
2. Technical Relevance
- The STH cost basis aligns closely with support and resistance levels derived from historical price action, making it a reliable marker.
3. Momentum Indicator
- Holding above $88,000 would demonstrate resilience, while a breach could signal a shift in momentum toward bearish conditions.
Potential Scenarios Based on $88K Level
1. Holding Above $88K
- Sustaining this level could reaffirm Bitcoin’s bullish momentum, encouraging accumulation by both short-term and long-term holders.
- Positive macroeconomic news or institutional support could bolster price stability.
2. Breaching $88K
- A decisive loss of $88,000 might lead to panic selling, increasing volatility and pushing Bitcoin toward lower support levels.
- Traders may target $85,000 or lower as the next critical support zone.
Market Sentiment and Influences
1. Institutional Activity
- Institutional investors closely monitor key levels like $88,000, adjusting strategies based on market strength or weakness.
2. Broader Economic Factors
- Macroeconomic elements, including interest rate policies and inflation data, continue to impact risk assets like Bitcoin.
3. Short-Term Trader Behavior
- As the primary holders at this cost basis, short-term traders play a pivotal role in determining Bitcoin’s near-term price movements.
How Traders Can Respond
1. Monitor Key Levels
- Keep a close watch on Bitcoin’s behavior around $88,000, as this level is crucial for gauging momentum.
2. Set Stop Losses and Alerts
- Traders should establish clear stop-loss levels to minimize risk in case of a breakdown.
3. Consider Accumulation Opportunities
- If Bitcoin holds above $88,000, it could present a buying opportunity for those confident in a bullish continuation.
FAQs
1. Why is $88,000 significant for Bitcoin?
The $88,000 level represents the Short-Term Holder (STH) cost basis, a critical indicator of price momentum and market confidence.
2. What happens if Bitcoin drops below $88,000?
A loss of this level could trigger selling pressure, as short-term holders exit positions, potentially leading to further downside.
3. What is the URPD metric?
The UTXO Realized Price Distribution (URPD) metric tracks Bitcoin’s trading volume at different price levels, highlighting key areas of support and resistance.
4. How does $88K influence market sentiment?
Maintaining this level reinforces confidence in the market’s bullish momentum, while losing it could shift sentiment toward bearish expectations.
5. What should traders do at this level?
Traders should monitor Bitcoin’s performance around $88,000, set stop-loss levels, and consider accumulation if the level holds.
Conclusion
The $88,000 level is more than just a price point; it’s a pivotal marker for Bitcoin’s momentum and market sentiment. Glassnode’s analysis underscores its significance as the Short-Term Holder cost basis, with the potential to dictate Bitcoin’s next move.
Whether Bitcoin sustains this critical level or breaches it will determine its trajectory in the coming weeks. For traders and investors, staying vigilant and adapting strategies to this key metric will be essential in navigating Bitcoin’s dynamic market.
To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Mantra Partners with UAE Real Estate Giant Damac to Tokenize $1B in Assets

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