Latest news with #Ripple
Yahoo
3 hours ago
- Business
- Yahoo
XRP Down 4% as Global Economic Tensions Trigger Market Selloff
XRP fell as much as 6% over the past 24 hours as global economic tensions rattled financial markets, triggering a wave of liquidations and pushing prices below key support levels. The token dropped from $2.20 to $2.14 as the broader crypto market shed 3.81% of its value, settling at a total market cap of $3.3 trillion. The volatility comes in the wake of the U.S. Court of International Trade's decision to overturn Trump's trade tariffs, reigniting trade policy concerns and sending ripples across risk assets. XRP wasn't immune, with over $29.68 million in long positions liquidated as traders scrambled to adjust their exposure. China-based Webus International said Friday it plans to raise up to $300 million through non-equity financing to support its global chauffeur payment network with an XRP reserve. The initiative aims to integrate XRP's cross-border settlement capabilities into Webus' ecosystem, including on-chain booking records and a Web3-based loyalty program. Webus is renewing its partnership with Tongcheng Travel Holdings to use the XRP Ledger to settle cross-border rides and driver payouts. Bitget listed Ripple's RLUSD stablecoin late Thusday. Ripple published a cross-border payments report on Friday. Cross-border payments underpin the $31.6 trillion B2B market, projected to hit $50 trillion by 2032. Traditional multi-intermediary rails are slow, costly and opaque, facing regulatory and transparency hurdles. Blockchain-based solutions like Ripple's stablecoin network promise near-instant, cheaper, visible settlement, enhancing liquidity, global expansion, talent payments and customer trust, while reducing failed transfers, the report said. XRP found strong selling pressure at the $2.21 resistance level, failing to mount a sustained recovery, according to CoinDesk Research's technical analysis model. A notable support zone emerged near $2.11, with high-volume buying during the 03:00 hour preventing further downside. Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though the pattern of lower highs indicates sellers remain in control. In the final trading hour, XRP formed a higher-low pattern around $2.135, signaling potential short-term support. However, the token also faced resistance at $2.144-$2.145, forming a tight range that traders will be watching closely for the next breakout or breakdown. XRP dropped 5.7% from $2.20 to $2.14 over the past 24 hours. A price range of $0.13 (5.9%) was observed between a high of $2.22 and a low of $2.09. Significant resistance formed at $2.21 during the 16:00 and 22:00 hours, triggering heavy selling. Strong buying at $2.11 during the 03:00 hour prevented further downside. Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though lower highs persist. A higher low at $2.135 formed in the last hour, with resistance at $2.144-$2.145 capping any rebound. XRP closed the session at $2.137, indicating consolidation after a volatile day. As XRP navigates the crosswinds of macroeconomic tensions and technical headwinds, traders will be closely watching for any signs of sustained support or further breakdown. Sign in to access your portfolio
Yahoo
19 hours ago
- Business
- Yahoo
Senator Cynthia Lummis' son-in-law is not a fan of Ripple
Senator Cynthia Lummis' son-in-law is not a fan of Ripple originally appeared on TheStreet. Brad Garlinghouse, the billionaire CEO of the blockchain and payments firm Ripple, recently decried Sen. Cynthia Lummis (R-WY) cancelling a meeting with him. As previously reported, Garlinghouse claimed on May 19 that Sen. Lummis — who chairs the Digital Assets Subcommittee — cancelled a meeting with him, which she won't reschedule. Even though President Donald Trump has included XRP among the cryptocurrencies that will make up the U.S. digital assets stockpile, Sen. Lummis is a Bitcoin maximalist. In fact, the BITCOIN Act introduced by Lummis aims to legislate Trump's executive order to establish a strategic Bitcoin reserve. However, it seems there is more to the senator reportedly cancelling the meeting than meets the eye. Sen. Lummis's son-in-law, Will Cole, is also a Bitcoin maximalist like her. Not only that, he frequently criticizes Ripple, underlined a popular crypto account on X called The user pointed out to Garlinghouse that Cole has been sharing Catholic Bitcoin CEO Pierre Rochard's posts criticizing Ripple for the company's alleged anti-Bitcoin and pro-CBDC stances. Garlinghouse responded to the post, saying it was "enlightening" to know that Cole is related to Sen. Lummis. "I really have to wonder if this was Sen. Lummis or someone on her staff making this decision," he added. Crypto lawyer Bill Morgan also shared screenshots of Cole's posts from 2021 and 2022 criticizing Ripple and XRP for its alleged centralized model. Bitcoin vs. XRP discourse isn't new. While the former is the largest cryptocurrency, the latter is the fourth-largest cryptocurrency. While Ripple is criticized for its centralized leadership, Bitcoin is criticized for its adverse environmental impact. In 2023, a Canadian artist Benjamin Von Wong teamed up with Greenpeace USA to create an art installation called the "Skull of Satoshi" to raise awareness about Bitcoin's energy usage. Guess who else turned up to support the initiative? Ripple co-founder Chris Larsen. Though the Bitcoin community embraced the installation soon enough, the Ripple CEO recently made an effort to bridge the gap between different crypto communities by donating the installation to the community. BTC, XRP, and other crypto communities have "more in common than we think," Garlinghouse said. There is a political overture to the Bitcoin vs. XRP discourse as well. Ripple has made significant political donations to Trump — including the firm's chief legal officer Stuart Alderoty personally donating $300,000 in XRP to Trump's 2024 presidential campaign and Ripple Labs donating $5 million in XRP to his inaugural committee. Ripple, which had been battling a years-long securities violations case with the Securities and Exchange Commission (SEC), saw the regulator attempting to settle with it following Trump's election victory. But the Democratic presidential candidate Kamala Harris's campaign also found support at Ripple. Co-founder Chris Larsen donated $10 million worth of XRP to Harris during the campaign. It is, however, not uncommon for companies to make donations to both parties during election campaigns. Since Trump's inauguration, XRP has declined 25% in value to trade at $2.20 at press time, as per Kraken. Though Bitcoin's value has declined 4% since Trump's inauguration, his coming to power has only led to the king coin's surge. BTC first hit its record high of $109,241 on Jan. 20, ahead of his inauguration ceremony. It then recently hit another record high of $111,970.17 on May 22. As per Kraken, it was trading at $104,759.32 at press time. Senator Cynthia Lummis' son-in-law is not a fan of Ripple first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Sign in to access your portfolio
Business Upturn
20 hours ago
- Business
- Business Upturn
How to make over $10,000 a day: XRP enthusiasts realize their dreams on the SAVVY MINING platform.
By GlobeNewswire Published on May 31, 2025, 03:00 IST New York City, USA, May 30, 2025 (GLOBE NEWSWIRE) — XRP is back in the spotlight—and this time, it's not just the price driver. With strong trading volume, an efficient ETF structure, and growing regulatory clarity, Ripple (XRP) is poised to lead the next wave of cryptocurrency popularity. While the market is still speculating whether XRP will be the next altcoin to receive spot ETF approval in the U.S., savvy investors are already jumping in to earn a steady daily passive income by joining SAVVY MINING, the world's top cloud mining platform service provider. Welcome to SAVVY MINING, a UK Financial Conduct Authority (FCA)-regulated platform designed to turn XRP holders into high-income cloud XRP Enthusiasts Choose SAVVY MINING Cloud Mining Platform Bitcoin and Ethereum have dominated the ETF space, and XRP is showing signs of becoming the next leader. But savvy investors know that the hype of ETFs doesn't necessarily translate into daily returns. That's why more and more XRP holders are choosing SAVVY MINING for cloud mining to earn stable returns with zero trading risk. With cloud mining, you can remotely access high-performance mining equipment without having to purchase or maintain local mining machines, and easily obtain daily cryptocurrency income. SAVVY MINING combines artificial intelligence scheduling systems and clean energy solutions to provide XRP users with a one-stop efficient mining experience, making mining smarter, greener, and more sustainable. Start earning a stable income in just three steps:Step 1: Register an AccountIt only takes less than a minute to sign up, you can open an account for free and receive a new user bonus worth $15. 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(Click to download mobile APP) SAVVY MINING 7 major advantages:1: Professional customer service team provides 7×24 hours online service, answering any questions of customers within 1-5 minutes.2: The platform supports multiple currencies for recharge and withdrawal: such as USDT-TRC20, BTC, ETH, LTC, USDC, XRP, USDT-ERC20, BCH, DOGE, SOL, etc.3: Environmental protection concept: Use energy to generate electricity, and use the free and recyclable electricity provided by nature (wind, water, solar, etc.) to provide a stable power supply for mining machines.4: National-level security guarantee: Fund SSL encryption + data encryption to ensure the security of each user's account and funds.5: Strong platform strength: 8 years of safe operation, 80+ mining farms worldwide, serving more than 8 million users.6: Recommend friends to join and get a permanent 3%+1.5% referral reward, up to $100,000. (For example: you can get a $30 bonus if someone you invite buys a $1,000 contract) 7: High returns, daily fees, no other service fees and management fees. Safe and reliableSAVVY MINING is fully regulated by the UK Financial Conduct Authority (FCA) to ensure compliance, transparency and legal protection for every investor. With national-level security, smart contracts and cold wallet asset protection, your funds are safe and unofficial platforms or short-term schemes, SAVVY MINING has earned a solid reputation for consistent returns, honest performance, and real-time transparency. Whether you are an early investor in XRP or a cryptocurrency newbie, this is your chance to turn your holdings into a daily source of income while contributing to a sustainable AI-driven blockchain infrastructure. For more information about SAVVY MINING, visit the official website: explore and start your investment income journey with one click. Contact us: [email protected] Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
a day ago
- Business
- Yahoo
SEC drops Binance lawsuit
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Securities and Exchange Commission dropped its 2023 lawsuit against Binance, its U.S. affiliate and its founder Changpeng Zhao Thursday, continuing its trend of vacating lawsuits against cryptocurrency firms filed by the SEC of yesteryear. This brings to an end a nearly two-year legal battle, in which the SEC accused the crypto exchange of illegally serving high-value U.S. customers and commingling and diverting customer funds. Under the leadership of then-Chair Gary Gensler, the SEC filed numerous lawsuits against crypto firms such as Binance, accusing them of, among other things, offering unregistered securities. But the SEC of today, led by Chair Paul Atkins, has done an about-face, dropping cases against Coinbase, Kraken, Ripple and Robinhood, and hosting industry roundtables with its new crypto task force. 'The dismissal of the SEC's case against Binance is a landmark moment. We're deeply grateful to Chairman Paul Atkins and the Trump administration for recognizing that innovation can't thrive under regulation by enforcement. The U.S. is back - leading from the front in the future of blockchain,' a Binance spokesperson told Banking Dive via email. A spokesperson for the exchange's U.S. affiliate, said the dismissal 'confirm[s] what we have always known—that the company did not violate U.S. securities laws.' The dismissal, a major milestone, allows to 'work on restoring our relationships that were impacted by the SEC,' the spokesperson said. The SEC had no further comment beyond its litigation release. Prior to the SEC lawsuit, Binance and Zhao were sued by the Commodity Futures Trading Commission over compliance 'evasion,' and in late 2023 the Justice Department charged Zhao with violating the Bank Secrecy Act. He pleaded guilty to the charge, paid a $50 million fine and was sentenced to four months in federal prison in 2024. The abandonment of the SEC's lawsuit against Binance comes one week after the international crypto exchange, the world's largest by trading volume, announced it would list World Liberty Financial USD on May 22. WLF is owned by the family of President Donald Trump, and was created two months before Trump won the presidential election. Trump, a former crypto skeptic, is involved in the crypto sector through WLF and the more recent launch of his meme coin. He has laid out his intentions to make the U.S. 'the crypto capital of the planet' through executive orders and the nomination of several crypto-friendly regulators, including Atkins. Amanda Fischer, policy director and chief operations officer of financial policy group Better Markets, said that the SEC ending its legal pursuit of Binance 'marks a new low in the SEC's already disgraceful recent history of surrendering in crypto cases, regardless of the merits and even when the agency is winning in court.' 'By dropping all charges notwithstanding prevailing in the early stages of the litigation, the SEC is dangerously sullying its own reputation,' Fischer said. 'In an almost comical admission, Binance's own Chief Compliance Officer confessed in private chats that the firm was 'operating as a fking unlicensed securities exchange in the USA bro.' And while the Department of Justice's previous case against Binance and CZ resulted in a minimalist charge not nearly commensurate with the harm caused, it is even more shocking that the SEC has surrendered even though the Binance founder has already admitted to myriad violations and spent time in jail for those crimes.' 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
Yahoo
a day ago
- Business
- Yahoo
XRP Price Prediction - What could affect XRP's future price?
XRP price prediction reflects mixed catalysts—bullish momentum from institutional adoption and regulatory clarity, countered by bearish technical signals and short-term profit-taking risks. - Institutional adoption via $300M reserves and ETF filings could drive demand. - Regulatory progress (SEC settlement, ETF approvals) may boost confidence. - Technical indicators signal near-term bearish momentum below $2.37 resistance. - Profit-taking risks loom with 90%+ of XRP supply in profit. Institutional reserves: Webus International's $300M XRP reserve plan and VivoPower's $121M treasury initiative aim to streamline cross-border payments, potentially increasing utility-driven demand. Escrow dynamics: 38B XRP remains locked in escrow (as of October 2024), limiting supply inflation but posing risks if released prematurely. Ripple's stablecoin (RLUSD): Launching in 2025 could complement XRP's role in payments but risks cannibalizing its use case. ETF momentum: Brazil's approved XRP ETF and 10+ U.S. filings (e.g., Franklin Templeton) could mirror Bitcoin's ETF-driven liquidity surge. Delays, however, may dampen sentiment. Regulatory clarity: The SEC's $50M settlement and the bipartisan CLARITY Act may reduce legal uncertainty, though lingering SEC scrutiny remains a headwind. Competition: SWIFT GPI, Stellar (XLM), and CBDCs challenge XRP's cross-border niche despite its 3-5 second settlement advantage. Key levels: Immediate resistance at $2.37 (20-day Bollinger midline); failure to hold $2.14 support could retest $2.00. Momentum: RSI at 40.72 (neutral) and MACD histogram in negative territory signal bearish pressure. A close above $2.59 Fibonacci extension could reignite bullish sentiment. XRP price prediction hinges on whether institutional adoption scales faster than profit-taking and regulatory delays. Watch for ETF approvals, RLUSD integration, and a breakout above $2.59. Will XRP's real-world utility outpace its speculative overhang in 2025? XRP price prediction reflects mixed sentiment, with cautious optimism from ETF momentum and technical setups, yet skepticism remains due to weak on-chain activity and lingering regulatory risks. - Bullish drivers: XRP Futures ETF launch, whale accumulation, and technical breakouts above $2.20 support. - Bearish concerns: On-chain activity (-37% Q1), fading retail interest, and unresolved SEC litigation risks. - Key debate: Whether ETF hype can offset weak utility metrics. The mood leans neutral-to-bullish (CMC Fear & Greed: 61 → 65 → 61 in May 2025) with spikes in optimism around institutional adoption. Positive catalysts include:- Nasdaq's XRP Futures ETF (launched May 23) drove a 24h sentiment surge.- Whale accumulation: Addresses holding 10K+ XRP hit 300K, a record high. Bearish undercurrents stem from on-chain stagnation:- Transactions, new wallets, and fees fell 30–40% Q1 2025.- Active addresses dropped 44% in late May, raising utility concerns. ETF speculation dominates:- Traders anticipate a U.S. spot XRP ETF (SEC decision expected June 2025), with open interest up 152% in May.- Canada's XRP ETF and CME futures launch ($1.5M debut volume) fuel institutional narrative. Technical tug-of-war:- Bulls target $2.50–$2.70 if $2.30 support holds (4h chart consolidation).- Bears warn of a drop to $2.12 if BTC dominance rises (altcoin season index at 19/100). XRP price prediction hinges on whether ETF-driven liquidity can offset weak network fundamentals. Traders are watching the $2.30–$2.50 range for directional get the latest update on XRP, visit our XRP currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice. 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
