Ripple president Monica Long on stablecoins, Trump and tokenization
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Yahoo
28 minutes ago
- Yahoo
XRP price jumps 11% as SEC and Ripple formally dismiss appeals
After nearly five years of courtroom combat, the US Securities and Exchange Commission and Ripple Labs are putting away their swords. The two sides jointly agreed to dismiss their respective appeals in the XRP securities case, officially ending one of crypto's largest legal battles and sending the token up 11% on Thursday. 'Following the Commission's vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,' Ripple chief legal officer Stuart Alderoty wrote on X, 'The end, and now back to business.' According to the SEC, the joint stipulation covers Ripple Labs, CEO Brad Garlinghouse, and co-founder Christian Larsen. The dismissal resolves the agency's civil enforcement action, leaving in place a final judgment imposing a $125,035,150 penalty on Ripple and a permanent injunction against violating the registration provisions of the Securities Act of 1933. Ripple had sought to cut that figure to $50 million as part of a conditional settlement, but Judge Analisa Torres rejected the proposal in June, ruling that neither side had 'come close' to justifying a change to her final judgment. ETFStore president Nate Geraci said the truce 'clears the way' for spot XRP exchange-traded funds, with Bloomberg analysts putting approval odds at 95% ahead of an October deadline. 'I think BlackRock was waiting to see this before filing for iShares XRP ETF,' Geraci added, arguing it makes 'zero sense' for issuers to ignore crypto assets beyond Bitcoin and Ethereum. XRP is currently trading for $3.31. Crypto market movers Bitcoin has gained 1.7% in the past 24 hours and is trading at $116,525. Ethereum is up 5.7% in the same period to $3,905. What we're reading Polymarket slammed for 'disrespectful' dildo throwing bets after second man is arrested at WNBA game — DL News What you missed this week — Milk Road New Battle Pits Crypto Against Banks in Battle for Customer Data. But Can Everyone Win? — Unchained Solana's $6bn 'dark' exchanges make trading more efficient — but at a cost — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Ripple-SEC Settlement Rally Cools as XRP Drops 5% on Profit-Taking
XRP slides through key levels in a high-volume selloff before stabilizing at major support, with regulatory clarity now in place after the Ripple-SEC settlement. Technical Analysis Overview XRP falls 5% in the 24-hour period ending August 9, dropping from $3.34 to $3.20 before recovering to $3.30. The move spans a $0.17 range, marking 5.24% volatility. Selling pressure peaks between 14:00-15:00, when price collapses from $3.36 to $3.20 on 209.67 million volume — the largest single-hour print of the session. Buyers defend the $3.20 zone, triggering a rebound to $3.33 by 19:00. Resistance forms at $3.31-$3.33, with support locked at $3.20. News Background The Securities and Exchange Commission and Ripple Labs have officially ended their five-year legal battle, jointly dismissing their appeals in the XRP case. The Second Circuit Appeals Court recognized the filing, with both parties bearing their own costs. 'Following the Commission's vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,' Ripple's chief legal officer Stuart Alderoty said on X. Price Action Summary • XRP drops from $3.34 to $3.20 between August 8 14:00-15:00 in a high-volume selloff, printing 209.67 million tokens traded• Buyers defend $3.20 support, sparking recovery to $3.33 by 19:00• Resistance builds at $3.31-$3.33 as profit-taking caps upside momentum Technical Indicators Analysis • $3.20 confirmed as key support with volume validation at 209.67 million• Resistance established at $3.31-$3.33 during recovery phase• Bull flag structure forming above $3.28, suggesting potential upside continuation if $3.33 breaks• Volume spike to 1.86 million at 01:52 indicates targeted accumulation attempts• 5.24% intraday volatility highlights defined range-bound trade between $3.20 and $3.33 What Traders Are Watching • Whether $3.20 holds on the next retest amid continued institutional positioning• Breakout confirmation above $3.33 to signal end of profit-taking phase• Follow-through buying linked to post-settlement regulatory clarity• ETF-related flows from Japan's SBI filing and potential spillover into U.S. markets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 hours ago
- Business Insider
Sam Altman Says OpenAI Will Continue to Prioritize Growth over Profitability
OpenAI CEO Sam Altman said on Friday that the company plans to keep focusing on growth and investing in training and computing power, even if that means it won't be profitable for a while. In an interview with CNBC following the launch of GPT-5, he explained that the Microsoft-backed (MSFT) AI firm is still improving its models quickly, so it makes sense to keep spending during this phase. Altman believes it's worth running at a loss as long as the AI keeps getting significantly better. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Last year, OpenAI expected to make $3.7 billion in revenue but also projected about $5 billion in losses. Now, the company is on track to reach over $20 billion in yearly recurring revenue, but it's still losing money. GPT-5, its newest and most advanced model, was released on Thursday and is now available to all ChatGPT users, including those on the free plan. OpenAI says that this version is smarter, faster, and more useful, especially for tasks like writing, coding, and healthcare. OpenAI also introduced two new open-weight models earlier this week, which are more affordable and flexible for developers and businesses to customize. Even though building these models is expensive, investors are still confident in OpenAI's future. In fact, the company is in talks for a new round of funding that could value it at around $500 billion, which may be led by Thrive Capital. Altman said that OpenAI could choose to be profitable sooner if it wanted to, but for now, staying private gives it the freedom to keep investing heavily. Is MSFT Stock a Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 33 Buys and one Hold assigned in the last three months. In addition, the average MSFT price target of $623.25 per share implies 19.5% upside potential.
