Author: dfmines

Following a favorable partial verdict in the long-drawn SEC court battle, the XRP token surged over 90% on July 13 reaching a new yearly high of $0.90.

The price of Stellar (XLM) has experienced a similar meteoric rise to the XRP token in the last 24 hours. This rise was triggered by news that Ripple, the company behind XRP, had won its long-running case against the US Securities and Exchange Commission SEC. The SEC’s case that XRP is a security was the focus of the court trial. To the delight of the crypto community, Judge Annalisa Torres of the US District Court for the Southern District of New York ruled in Ripple’s favor, declaring the XRP token not to be a security. Stellar Looks To Enter The Top 20 Crypto Ranking The altcoin market had been dominated by bearish pressure in recent weeks due partly to the SEC’s declaration of tokens tied to Solana, Polygon, and Cardano as securities. This declaration formed the foundation of the regulator’s case against prominent crypto exchanges Coinbase and Binance. Related Reading: Optimism (OP) Rides The Wave Of Today’s Crypto Surge With 15% Rally That said, the market was jolted back to life yesterday following the announcement of Ripple’s court victory, with most tokens basking in green. Stellar also reacted swiftly to positive market sentiment, going on an almost 90% price rally within a few hours. The token’s price has since steadied, with Stellar currently trading with a 52.4 % gain. With this, XLM’s price rise places it amongst the top daily gainers in the cryptocurrency market today. As of this writing, XLM is valued at $0.147189, with a 3.9% price decrease in the past hour. The token has a 24-hour trading volume of over $1.26 billion, representing a 3,386% surge in the past day. According to CoinGecko data, the Stellar token is closing in on a spot in the top 20 largest cryptocurrencies, with a market cap of nearly $4 billion. Is $0.8 Within Reach For XLM? A look at the broader market shows that XLM has been underwhelming in recent days. Although the token scored some significant gains last month, it appears to have also been affected by the dour market conditions in July. Following the positive price movement of yesterday, investors are hoping to see the XLM price visit the $0.8 again. However, after hitting its all-time high of $0.875563 in 2018, the coin has only ever reached the $0.8 level once. Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips? On the weekly chart, the XLM token must overcome resistance at $0.2 and $ 0.4 price levels. So, it would take extraordinary bullish pressure for Stellar to reach $0.8 again.  XLMUSD trading at $0.146982 | Source: chart from TradingView That said, the Relative Strength Index (RSI), an indicator that tracks the balance between the buying pressure and selling pressure of a token, suggests that the current bullish momentum might be waning. The daily RSI has crossed above the 70-mark, which represents the overbought zone. This indicates that the buying pressure is at its peak, and a reversal might be on the horizon. Featured image from Shutterstock, chart from TradingView

Virtually everything we have seen out of the SEC is them claiming crypto to be securities and claiming exchanges are then securities exchanges and need to register with the SEC. However, exchange after platform after exchange has complained that SEC is unwilling to provide any regulatory clarity or guidance in how to comply with laws.…
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XRP price almost doubled after Ripple’s legal win against the U.S. SEC. But can its rally continue after nearly reaching $1?

Following Ripple (XRP)’s victory in court yesterday, there is a general bullish wave currently sweeping across the crypto market. According to data from CoinMarketCap, Cardano (ADA) has gained by 28.43% in the last 24 hours, with several other altcoins also posting double digits gains. Cardano (ADA) Price Action And Analysis Prior to its price boost yesterday, ADA had shown little to no movement all week, hovering around the $0.29 price mark. However, the token’s price spiked yesterday afternoon, reaching as high as $0.37 for the first time since early June. Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips? Looking at its broader performance, Cardano has had a mixed-price action since the start of 2023. The altcoin began the year in style, gaining over 70% to trade at $0.41 as of February 16. This price surge was, however,  followed by a bearish trend bringing the token’s price as low as $0.30 on March 10. Thereafter, ADA would resume its bullish trajectory, rising to its highest price so far in 2023 at $0.45 on April 16.  Over the next two months, Cardano’s price slumped once again before showing sideways movement over the last three weeks. Analyzing its 4-Hour Chart, ADA has encountered resistance at the $0.38 price zone and appears to be experiencing a recorrection. However, a rise in selling pressure could result in the token trading as low as $0.28, which marks its imminent support level. On the other hand, if the bulls retake control and manage to push past the $0.38 resistance price level, ADA is likely to rise to $0.42, which represents the next major resistance level.  At the time of writing, ADA is trading at $0.35 with a 2.30% loss in the last hour. The token’s trading volume is up by a stunning 808.08% and is valued at $1.4 billion. With a market cap of $12.3 billion, Cardano is ranked as the 7th biggest cryptocurrency in the world. ADA Trading At $0.35 On The 4-Hour Chart| Source: ADAUSD Chart On Tradingview.com Ripple’s Victory Sparks Altcoin Rally Yesterday afternoon,  U.S. Judge Analisa Torres ruled that XRP is not a security in the ongoing Ripple vs. SEC case. On the emergence of this news, the crypto market experienced a price boost, with mainly altcoins notching significant gains. Asides from Cardano (ADA), coins such as Solana (SOL), Avalanche (AVAX), and Polygon (MATIC), are also on the rise, recording profits at 31.98%, 14.50%, and 17.76%, respectively, in the last 24 hours. Related Reading: Optimism (OP) Rides The Wave Of Today’s Crypto Surge With 15% Rally That said, the premier cryptocurrency was not left out of the current market surge. Bitcoin has gained by 2.81% in the last day to trade above $31,000 again. At the time of writing, the total crypto market cap is valued at $1.26 trillion, with a 6.39% increase in a single day.  Featured Image From Forbes, Chart From Tradingview.

The Multichain team said that the team’s funds and access to servers are currently with their CEO Zhaojun who is under Chinese police custody.

The AI proposal suggested that background performers should undergo scanning, receive payment for a single day and grant their companies complete ownership over the scan, image and likeness.