XRP Price Soars: Whales Buying Up As Ripple-SEC Case Nears End

• XRP has dropped by 3% in 24 hours, yet it is up 16% in the week and 10% in the month.
• Rumors of a positive outcome for Ripple have caused a big rally earlier this week.
• The judge has recently upheld Ripple’s motion to exclude one of the SEC’s key expert witnesses.

XRP Price Prediction

The XRP price has dropped by 3% in the past 24 hours, falling to $0.428988 as the cryptocurrency market responds to news of yet another rate hike from the Federal Reserve. Despite today’s dip, the altcoin remains up by 16% in a week and by 10% in the last month, while it has also risen by 26% since the start of 2023.

Rumors Spread Online

XRP did enjoy a massive rally earlier this week as rumors spread online that the Ripple-SEC case was very close to ending, and most likely with a positive outcome for Ripple. However, while a decision is yet to arrive, there’s little doubt that one will come in the next few months, and if it is positive, XRP will surge.

Relative Strength Index (RSI)

After reaching 70 and higher a couple of days ago, XRP’s relative strength index (purple) has climbed down to just under 60, indicating a loss of momentum. On the other hand, the coin’s 30-day moving average (red) has begun rising up towards its 200-day average (blue), suggesting that the coin hasn’t been overbought and still has space left to rise in the coming days.

End Of The Case Is Near

Based on what we know, such an end isn’t likely to be very far away, given that everything has been briefed in the case and that all that’s left is for Judge Analisa Torres to reach a judgment. Indeed, Ripple CEO Brad Garlinghouse has said on numerous occasions in recent weeks that he expects an end tothe case this year and perhaps by summertime.

Positive Developments For Ripple

Not only is there hope for an end soon but there also remain good chances of Ripple winning due to several recent positive decisions or rulings made such as excluding one of SEC’s key expert witnesses which was called upon argue whether purchasers hada reasonable expectation of profit when they bought XRP tokens from Ripple originally..

BNB Coin Pumps 17% – Is it Time to Buy?

• Binance Coin (BNB) has seen a 17% surge in the past week, partially due to the news that Uniswap, the largest Decentralized Exchange, has deployed on the BNB Chain.
• Technicians expect that if BNB breaks through current annual highs of $330s, it could rally back to November highs near $400.
• With the crypto market stabilizing and RSI on the verge of hitting overbought territory, a further 20% surge may take some time.

What’s Going On with Binance Coin?

Binance Coin (BNB) has seen a stunning rebound after tumbling to two-month lows late last week in the mid-$260s amid generalized risk-off across asset classes amid concerns about US bank failures. At current levels around $330, BNB/USD is changing hands close to 25% up versus last week’s lows. Part of this rally can be explained by optimism in the crypto market about US authorities’ response to bank troubles and crypto as a safe haven against trouble in traditional finance systems.

Uniswap Deployment Driving Price Surge

The price surge for BNB has been further driven by news that Uniswap, the largest Decentralized Exchange, has deployed on the BNB Chain which adds to its utility substantially. Analysts expect this will bring substantially more on-chain activity and increase demand for BNB even further.

Price Prediction

Things are looking very good for BNB from a technical perspective as it is trading above all major moving averages and breaking out of an established downtrend that had been capping it since early February. A test of February’s annual highs in the $330s seems likely at this point with potential for extending gains up to November highs near $400 if broken through those levels.

RSI Close To Overbought Territory

However investors should note that with Bitcoin consolidating and 14-day Relative Strength Index (RSI) on the verge of hitting overbought territory, any further 20% surge is likely to take some time before materializing.

Time To Buy?

With macroeconomic conditions buoying crypto markets combined with increasing utility for BNB driving prices higher, now may be an opportune time for investors looking to get into the cryptocurrency market or add exposure to their portfolios.

Russian Crypto Leaders Ask Putin for Talks: What’s at Stake?

• The Russian Association of the Crypto Industry and Blockchain (RACIB) and a software developers’ union named Russoft have called on President Vladimir Putin to head a “workshop” to discuss the foundations of crypto regulation in Russia.
• Parties behind the call argue that there is a “serious risk” that the Russian economy will end up “lagging behind” its international counterparts, with both political enemies and friendly countries threatening to surpass Russia in this sector.
• The current policy proposals are not allowing Russian businesses to fully explore the potential of new financial instruments, meaning Moscow could miss out on becoming a global leader in digital payments space.

Call for Talks with Putin

Leaders of Russia’s cryptoasset and blockchain industry say they want to meet President Vladimir Putin for face-to-face talks about crypto regulation. The media outlet RBC reported that the request was made by the Russian Association of the Crypto Industry and Blockchain (RACIB) and a software developers’ union named Russoft. The parties co-authored a letter, which they submitted to Putin’s office and shared online.

What Do They Want?

The parties called on Putin to head a “workshop” that would “agree on the foundations” of policy “in the field of” crypto regulation. The authors asked Putin to “allow representatives” of the “organized” crypto community” to attend the meeting. They argued that there was a “serious risk” that if Moscow fails to introduce “new financial technologies,” then it would potentially lose pace with global digital economic development.

Current Policy Proposals

Russian crypto regulation is stuck in limbo, with Moscow deeply divided over how best to approach this issue. The nation’s finance and commerce ministries favor regulating crypto firms, issuing licenses to domestic exchanges, obliging industrial miners pay tax on their earnings; however Central Bank – headed by key Putin ally Elvira Nabiullina – wants an almost total ban like China has implemented instead and championing their own digital ruble currency instead.

Consequences of Too Much Conservatism

The letter’s authors claimed that current policy proposals would not allow Russian businesses enough freedom or opportunity explore potential new financial instruments without relocating abroad, leading to direct financial losses for Treasury coffers over time as well as missed opportunities at becoming world leaders in digital payments space overall due too much conservatism from officials around this sector currently proposed regulations .

Conclusion

This impasse between different state bodies has led industry groups such as RACIB calling for compromise solutions which could be discussed during face-to-face meetings with President Vladimir Putin himself if he approves such talks taking place soon

1 Million Bitcoin Wallets: Could It Impact BTC Price?

• The number of Bitcoin wallets with at least 1 BTC has skyrocketed from 800,000 to 980,000 in the past 15 months.
• The FTX collapse accelerated the trend towards crypto self-custody and high-conviction retail investors buying the dip.
• If the current pace of growth continues, it is likely that this number will reach 1 million soon.

Bitcoin Wallets With At Least 1 BTC On The Rise

The world’s largest cryptocurrency by market capitalization, Bitcoin (BTC), has seen its number of wallets with a balance of at least one token increase rapidly over the past 15 months. From slightly more than 800,000 wallets when Bitcoin hit its record highs at $69,000 in November 2021, this figure has now risen to over 980,000.

FTX Collapse Accelerates Shift Towards Self-Custody

The recent collapse of formerly one of the world’s largest cryptocurrency exchanges FTX resulted in customers losing access to billions worth of crypto deposits. This dealt a severe blow to investor confidence in depositing their assets in centralized entities and led to a rapid shift towards crypto self-custody. Additionally, high-conviction retail investors have used this bear market as an opportunity to own at least one BTC for the first time – further increasing the number of wallets holding at least 1 BTC token.

1 Million Wallets Could Be Reached Soon

If the current pace of growth continues, it is likely that this figure will soon surpass one million wallets with at least one BTC token each. This could occur before Bitcoin’s price reaches its all-time high once again due to growth being independent from price appreciation during 2022’s bear market.

Impacts On The Price Of Bitcoin

Recent history suggests that an increase in wallets holding 1 BTC does not necessarily go hand in hand with upside movements on its price chart – meaning that if it keeps growing like this then it could be reached even if prices continue falling instead or going sideways from hereon out.

Conclusion

As more and more retail investors opt for self-custody solutions and buy up coins during dips – such as what we’ve seen since late 2021 – it looks like we are heading for a future where there are over a million wallets holding at least one BTC token soon enough!

Bitcoin Price Soars 14% in 7 Days: Where is BTC Heading Now?

• Bitcoin’s price has seen a significant increase of 14% over the past seven days.
• Bitcoin’s hashrate is expected to experience the biggest increase of the year, reaching 300 EH/s by 2023.
• The expected difficulty adjustment will make it more difficult for miners to discover new blocks and could potentially cause an increase in its price due to its scarcity.

Bitcoin Price Increase

Bitcoin’s price has seen a significant increase of 14% over the past seven days, leading many to wonder where the cryptocurrency is headed in the near future.

Network Difficulty Adjustment

Bitcoin’s hashrate stayed above 200 exahash-per-second (EH/s) throughout 2022. Nonetheless, it appears that 300 EH/s will be the new normal by 2023. According to recent statistics, Bitcoin’s hashrate has averaged roughly 310.5 EH/s over the last 2,016 blocks, with block timings ranging from 8 minutes and 55 seconds to 8 minutes and 68 seconds. These indicators point to a considerable rise in difficulty, which is expected on February 24.The following are the results of a survey conducted by the National Institute of Standards and Technology (NIST). The predicted increase for this modification will be between 10.78% and 11.5%. The present difficulty is around 39.16 trillion hashes, and the next adjustment will very certainly increase it to 40 trillion. A 10.78% increase would yield a difficulty rating of around 43.35 trillion hashes. Whatever the decision, a rise in difficulty will make it more difficult for Bitcoin miners to discover new blocks.

Implications for Miners & Price

The expected increase in Bitcoin’s network difficulty, combined with a high hashrate and shorter block times, means that it will become more difficult for miners to discover new blocks. This could result in a slowdown in the rate at which new Bitcoin is produced, and potentially cause an increase in its price due to its scarcity.

Centralization & Security Risks

The high hashrate and concentration of mining power in few major mining pools may raise concerns about centralization and security risks.

Overall Security Enhancing

Nonetheless, this same concentration may enhance overall security making it more resilient against potential attacks.

Explore the Metaverse: Create, Trade & Operate Your Own World with RobotEra!

• RobotEra is a new metaverse crypto project and sandbox-like world-building game.
• Players can create and explore a vast, immersive metaverse with their own unique land, robots, and resources.
• Set in the alpha galaxy, Taro is now ruled by 10,000 robots with human-like emotions who are tasked with restoring the planet to its former glory.

What is RobotEra?

RobotEra is an upcoming new metaverse crypto project and sandbox-like world-building game that will invite players to create, share, operate, explore, and trade within a world that is entirely their own. As a robot in this metaverse, players will acquire resources from the planet, manage their own land, create robot companions, and participate in the creation of a new world. With the freedom to create anything you can imagine and collaborate with other robots, RobotEra is paving the way for a new era of interactive experiences.

Features of RobotEra

RobotEra offers a shared world that connects players’ unique lands together, opening up endless possibilities for theme parks, concerts, museums, and more. Players will be able to use their creativity and strategic thinking in exciting ways as they explore this vast virtual universe full of hidden spaces with incredible rewards. The Central City acts as a hub where players can complete quests to earn rewards while also visiting museums showcasing works created by talented players.

The Story of RobotEra

Set in the alpha galaxy of Taro Planet lies an intense story following a great cataclysm between aborigines and robots which leaves Taro desolate at its end. The humanoid scientist Prosius achieved his research breakthrough on “robot singularity” just before all was lost activating “new life.” His plan is detailed in “The Last Chance” document leaving behind 10 thousand robots with human-like thoughts ruling this new world tasked by restoring Taro to its former glory – bringing forth a new civilization for brighter future ahead!

NFTs: Robots Land & Robot Companions

RobotEra introduces Non Fungible Tokens (NFTs) – digital assets secured through blockchain technology which allow users to customize their individualized creations such as land plots & robotic companions! These additions offer further aspects & opportunities for users when playing within this expansive virtual universe!

Conclusion

RobotEra offers an intriguing experience blending cryptocurrency & interactive gaming into one unique platform set against an intense & captivating storyline! With NFTs adding even more customization & features – it’s truly an expansive virtual universe waiting to be explored by gamers around the globe!

Binance Shocks Crypto World: USD Bank Transfers Temporarily Halted

• Binance announced that it is suspending US dollar withdrawals and deposits for international customers beginning February 8.
• The move only applies to non-U.S. customers who transfer money to or from bank accounts in dollars and not those who use other methods of buying and selling crypto.
• Signature Bank and Silvergate are the two biggest crypto banks, both of which have received billions in loans from the Federal Home Loan Banks following the collapse of FTX.

Binance Announces Temporary Halt On US Bank Transfers

Binance has announced that it is temporarily suspending US dollar withdrawals and deposits for international customers beginning February 8th. Other transfer methods will not be affected, however, this impacts a small proportion of users. The exchange did not provide additional details but said they “are working hard to restart the service as soon as possible.”

Impact on Non-US Customers

The suspension applies only to non-U.S. customers who transfer money to or from bank accounts in dollars, while other methods of buying and selling crypto remain unaffected. As such, this move does not affect Binance US which is regulated by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).

Reason Behind Suspension

Binance has been facing banking challenges in the United States since last month when its banking partner Signature Bank raised transaction minimums for dollar transfers to $100,000 for users with USD bank accounts. In response, Binance said it was “actively seeking” a new partner to process its SWIFT payments instead.

Signature Bank & Silvergate Crypto Banks Impacted

Signature Bank and Silvergate are two of the largest crypto banks operating today however; they were hit hard by last year’s crypto meltdown resulting in around $2 trillion worth of value being wiped out from the market altogether. To cope with these losses each bank have received billions in loans from the Federal Home Loan Banks designed originally to support housing finance and community investment following FTX’s collapse.

Conclusion

As mentioned above this suspension affects only a small minority of Binance’s users while they work towards restoring their services as soon as possible via their search for a new banking partner that can provide quality services at an affordable cost without compromising customer experience or security standards set forth by FinCEN regulations

Fed Meeting Could Trigger ‘Bloodbath’ Across Risk Assets, Including Crypto

• A market strategist has warned of a “bloodbath” across risk assets, including crypto, in the run-up to the February 1 Federal Reserve meeting.
• The strategist believes that Fed Chair Jerome Powell will come out more forcefully and hawkish than expected, leading to a sharp sell-off in all risk assets.
• The analyst referred to statements from Powell in which he indicated that ‘overtightening’ is less of a risk for the economy than not doing enough to get inflation down to its target.

As the Federal Reserve prepares to meet on Wednesday, February 1, one market strategist has predicted a “bloodbath” across risk assets, including crypto, ahead of the meeting. According to the strategist, who goes by the Twitter username The Carter, Fed Chair Jerome Powell will come out in a more forceful and hawkish way than the market currently expects, leading to a sharp sell-off across all risk assets, including bitcoin (BTC) and most other digital assets.

The Carter defended his view by citing Powell’s transparency as a central bank leader. “He plays with a wide open hand,” the strategist wrote in a Twitter thread posted on Friday. Additionally, the analyst referred to earlier statements from Powell, where he indicated that ‘overtightening’ is less of a risk for the economy than not doing enough to get inflation down to its target. “We can support economic activity strongly if that happens,” Powell was quoted as saying.

The strategist believes that this scenario could bring about a “bloodbath” in risk assets, including the crypto market. If the Fed Chair’s statements come out more forcefully and hawkish than expected, it would lead to a sharp sell-off in all risk assets, including digital currencies.

The Fed meeting on February 1 has already been identified as a possible turning point in the global markets, and the strategist believes that this could be the moment when the markets turn bearish. The Fed Chair’s statement could be the catalyst for a sharp sell-off across risk assets, and the crypto market could be particularly vulnerable.

The markets have been on a bull run for the past few months, and the strategist believes that the current optimism could be misplaced. The Fed meeting could be the moment when the markets turn bearish, leading to a “bloodbath” across risk assets.

The markets will be watching closely to see how the Fed Chair responds to the current economic situation. If Powell comes out more hawkish than expected, it could be the trigger for a sharp sell-off in risk assets, including crypto. Investors should be prepared for the possibility of a “bloodbath” in the markets as the Fed meeting approaches.

XRP Price Soars as Ripple’s SEC Lawsuit Nears Resolution

• XRP has seen a 10% gain in the past week and 20% rise in the last 30 days, pushed upwards by investor optimism that the SEC lawsuit against Ripple may reach a favorable conclusion soon.
• XRP’s relative strength index has risen close to 70 and its 30-day moving average has turned up towards its 200-day, signaling a potential breakout.
• Ripple CEO Brad Garlinghouse predicted that the firm’s lawsuit with the SEC will end by the end of this year at the very latest, if not by the end of the first half of 2023.

The XRP cryptocurrency has seen a surge in its price in the last week, with its value rising by 10% to reach $0.425152. This follows Ripple CEO Brad Garlinghouse’s announcement that he expects the firm’s two-year long lawsuit with the US Securities and Exchange Commission (SEC) to reach its conclusion by the end of this year at the very latest, if not by the end of the first half of 2023.

The current price of XRP represents a 20% rise in the last 30 days, pushed upwards by investor optimism that the SEC’s case against Ripple is entering its end phase. Indeed, with all existing briefs having now been filed, it seems that XRP holders (as well as Ripple and the SEC) are mostly waiting for the judge to reach a decision.

The chart of XRP also points to some positive momentum. The altcoin’s relative strength index (RSI) has risen very close to 70 in the past few days, an indicator that the optimism surrounding the Ripple case has injected some extra buying pressure into its market. At the same time, XRP’s 30-day moving average (MA) has turned up towards its 200-day MA, something which signals a potential breakout, especially if the shorter-term average overtakes its longer-term counterpart.

The outcome of the Ripple case will be crucial for XRP holders, as a favorable decision from the judge could potentially see the cryptocurrency rise to new heights, surpassing its current all-time high of $3.40 and possibly even reaching an unprecedented $10 mark.

Analysts have pointed out that the recent rise in XRP’s price could be a sign of investors expecting an imminent favorable resolution to the case. With the SEC’s deadline to submit its closing arguments at the end of May, the next few weeks could be decisive for investors in the cryptocurrency.

In the meantime, Ripple and XRP holders will be eagerly awaiting the judge’s decision, hoping that the case reaches a favorable conclusion and that XRP continues to rise in value.