Cryptocurrencies Price Prediction: Ripple, Arbitrum & Bitcoin – European Wrap 14 July
|SEC vs Ripple: Regulator slams Judge Torres' judgement that XRP is not a security
The US Securities and Exchange Commission (SEC) has responded to the ruling by Judge Torres, after the landmark judgement of the US session on July 13. This came after the much-awaited summary judgment in the Ripple versus SEC case. As it happened, the overseeing Judge, Analisa Torres, ruled that XRP was not a security in certain circumstances.
The US SEC took a partial win home and lives to fight another day. After backlash and ridicule from XRP community members, the commission has indicated its stand following the Court’s decision. Based on the remarks reported by Fox Business, the SEC may be taking the case further. Citing a portion of the response.
One of many. Make no mistake: every exchange in the United States should relist XRP IN SOLIDARITY with today’s decision: @coinbase @krakenfx #Crypto.com, @Gemini etc etc https://t.co/q22NJOTsKO
— John E Deaton (@JohnEDeaton1) July 13, 2023
One of many. Make no mistake: every exchange in the United States should relist XRP IN SOLIDARITY with today’s decision: @coinbase @krakenfx #Crypto.com, @Gemini etc etc https://t.co/q22NJOTsKO
— John E Deaton (@JohnEDeaton1) July 13, 2023
Arbitrum unlocks Layer 3 chains as Ethereum Layer 2 wars intensify
Arbitrum and Optimism have long competed for dominance in the Ethereum Layer 2 ecosystem. With Offchain Lab’s release of Arbitrum Orbit, a toolkit for the development of Layer 3 chains, ARB ecosystem expects higher dominance and a large market share in the future.
Arbitrum’s launch in August 2022 stirred similar competition among Layer 2 chains and ARB gained dominance and a high market share post its launch. Experts have weighed in on the intensifying war between scaling solutions, picking Optimism, OP stack as a clear winner with its advantages over Arbitrum.
Bitcoin Weekly Forecast: Can XRP’s win take BTC to $40,000?
Bitcoin (BTC) price got a respite from sideways trading after the United States Securities and Exchange Commission (SEC) vs. Ripple lawsuit reached a conclusion, for now. The announcement caused Ripple (XRP) price to double in a few hours, causing other altcoins to also rally from the hype. BTC was no exception as it ended its 23-day consolidation and swept the second quarter high at $31,500.
Bitcoin price shows that the bulls are back, at least for now. But ‘will the buyers remain optimistic as the XRP hype dissipates?’ is the question that remains. Regardless, let us take a look at the three-day chart of BTC to determine where it will head next.
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