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Decoding reasons behind XRP’s bullish stint
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Ripple’s native cryptocurrency XRP is finally seeing a return of bullish excitement. This reaction was triggered by a favorable judicial decision in the lengthy legal battle between Ripple and the SEC.
Is your portfolio green? Check out the Ripple Profit Calculator
According to recent announcements, the judge presiding over the case recently shot down the SEC’s motion to seal the Hinman documents.
The latter relates to a speech made by William Hinman in 2018. He was the SEC director of Corporate Finance back then. Hinman stated in the speech that he did not view Ethereum’s ETH as a security.
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BREAKING: $XRP price surges after Judge Torres denies SEC's Motion to Seal the Hinman documents, and holds off on #Ripple vs. #SEC verdict, awaits Congress for a regulatory roadmap. pic.twitter.com/JlS0JGBCVR
— WhaleWire (@WhaleWire) May 16, 2023
So why are investors getting excited about the statement which does not necessarily touch directly on XRP?
Well, that is because the former SEC exec’s opinion on XRP might lend favor to Ripple. This is because the court may use Hinman’s opinion to determine the eventual outcome of the case. Especially, since the SEC has seemingly been undecided about crypto’s categorization.
XRP maxis believe that Judge Torres’ decision to deny the SEC’s motion to seal the documents might offer insights into the case’s potential outcome.
It explains the latest excitement in XRP’s price action. The cryptocurrency rallied by over 9% in the last two days after previously struggling to overcome sideways movement for multiple days.
Source: TradingView
XRP’s MFI indicator showed that there was significant accumulation in the last few days. At press time, the indicator was back above its mid-level.
The cryptocurrency gained relative strength. And the leading indicator RSI was heading towards a 50% level, at the time of publication.
Read about XRP’s price prediction for 2023-2024
On-chain data revealed that XRP’s rally in the last two days was backed by a shift in investors’ sentiment.
The weighted sentiment metric fell to a 4-week low on 14 May but has bounced back slightly since. This bounce back was accompanied by a spike in the number of daily addresses.
Source: Santiment
XRP’s on-chain volume has certainly made a splash after the court blocked the SEC’s filed motion.
The metric bounced to its highest level so far this month. Thus, confirming that the latest news about the Ripple v. SEC legal battle triggered a substantial reaction.
Source: Santiment
On the other hand, XRP’s supply distribution confirmed that whales were involved in the current rally.
Consider this- most addresses holding between 100,000 and 1 billion XRP have been buying in the last two days. However, some addresses within the same category have been contributing to the selling pressure.
The latter was more prominent among whales in the 10 million to 100 million category.
Source: Santiment
The final ruling is yet to be made, which means the current rally may not necessarily extend for long. The latest judicial decision is also not a guarantee that the final outcome will favor Ripple.
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14.10.25 08:46
robertalfred175
CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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15.10.25 18:07
crypto
Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.
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15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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