Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»XRP Bulls and Bears Clash Amid Regulatory Uncertainty: What Will Happen in 2024?
EXCHANGE NEWS

XRP Bulls and Bears Clash Amid Regulatory Uncertainty: What Will Happen in 2024?

By Crypto FlexsDecember 31, 20234 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
XRP Bulls and Bears Clash Amid Regulatory Uncertainty: What Will Happen in 2024?
Share
Facebook Twitter LinkedIn Pinterest Email

XRP appears to be stagnating as the price of XRP fluctuates around $0.63. Will the bullish momentum return?

Ripple (XRP) started the week with a promising surge, rising from $0.62 to $0.65. However, the cryptocurrency struggled to maintain its bullish momentum, falling 5% and falling below $0.62 just after Christmas. At the time of writing, XRP is trading around $0.63 and has seen some recovery over the past 24 hours.

XRP Bulls vs Bears

In December 2023, Ripple reportedly transferred 240 million XRP from escrow accounts, leaving more than 96 million XRP in primary spending wallets. This equates to approximately $60 million at press time. Cryptocurrency observers were worried that there would be a sell-off by the end of 2023. In contrast, some analysts have suggested that the remaining XRP may not be released immediately.

According to Ali Martinez, BeInCrypto’s Global News Director, whales have amassed significant amounts of XRP worth millions of dollars over the past week. This buying activity, totaling $223 million, suggests whales may be positioning themselves for a potential rebound.

XRP faces uncertainty due to political and regulatory factors.

Ripple lawyer John E. Deaton commented on X’s post highlighting two articles from The New York Times. The first report, in 1995, addressed concerns that government surveillance was violating civil liberties and privacy. Meanwhile, a 2023 article discussed the need for increased surveillance measures.

John questioned the purpose of Senator Elizabeth Warren’s bill, suggesting the possibility of the Federal Reserve working with major banks to launch a CBDC. He said Elizabeth’s re-election campaign could aim to shape and dominate the anti-cryptocurrency discourse.

in other words,

“All of this is being coordinated by Senator Warren and her anti-cryptocurrency army, co-chaired by Jamie Dimon. They want to introduce a CBDC managed by the Federal Reserve in conjunction with the big banks. “She is using her re-election campaign as a way to create and control the anti-crypto narrative.”

John further commented on the US presidential election and the potential for the bill to become law. He said the dismissal of Warren’s bill based solely on the current composition of the House should be modified. He emphasized that a shift in political dynamics in 2024 would likely pave the way for the bill to pass if Democrats regain control of the House.

More legal nonsense from America

Deaton acknowledges the possibility of Democrats winning the presidential election outright, but remains skeptical about passage of the Warren bill in 2024.

Ripple’s lawyers went on to discuss the potential impact of the upcoming 2024 U.S. election on the future of cryptocurrency regulation in the United States. John presented two scenarios depending on the outcome of the election. A Democratic victory could lead to passage of Senator Warren’s anti-cryptocurrency bill, which would likely limit the digital asset space.

On the other hand, a landslide Republican defeat would be beneficial for the US digital asset sector.

The Warren Bill aims to severely limit cryptocurrencies, while the RFI Act aims to support innovation while protecting investors. The RFI Act also seeks to reduce the SEC’s influence on cryptocurrency regulation by giving the Commodity Futures Trading Commission (CFTC) more power.

This is potentially positive for cryptocurrencies in the U.S., as the CFTC is generally considered more cryptocurrency-friendly than the SEC.

Ripple CLO Discloses Proposal to Settle SEC Lawsuit

Stuart Alderoty, Ripple’s Chief Legal Officer, recently revealed details of the US financial watchdog’s 2020 settlement proposal. The SEC proposed publicly declaring XRP a security before starting litigation, giving market participants a short period of time to comply. classification.

Ripple rejected this proposal for two main reasons. First, Ripple firmly believes that XRP does not belong to the category of securities. Second, the SEC must provide a comprehensive regulatory framework for cryptocurrency compliance.

Despite differing views from past SEC representatives, Ripple remains steadfast in its mission to establish that XRP is not a security. Of course, XRP can be used anywhere. A U.S.-centric focus may therefore appear short-sighted over time.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) -It is not damaged, but there is no fireworks that can be moved yet.

July 2, 2025

Etherrium price behavior is weakened-danger of short-term modifications

June 29, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025
Add A Comment

Comments are closed.

Recent Posts

The Open Platform Is First Unicorn In Web3 Ecosystem In Telegram At $1bn Valuation

July 3, 2025

The mindset of Retail Investors

July 3, 2025

Cooking.City Bringing Back Value Redistribution To Solana Fair Launches

July 3, 2025

XRP rebounds are interested in APT miners cloud mining.

July 3, 2025

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025

Best Crypto PR Agency Packages : What to Look For & Where to Start

July 3, 2025

Looking for an Affordable Crypto PR Agency? Here’s What to Know Before You Spend

July 3, 2025

Crypto PR Packages for Startups: What You Need & How to Choose the Right One

July 3, 2025

Cheap Crypto Press Release: How to Promote Your Project Without Overpaying

July 2, 2025

The Ultimate Guide to Crypto Public Relations Packages

July 2, 2025

Submit Your Website to Crypto Directories and Boost Your Visibility Instantly

July 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The Open Platform Is First Unicorn In Web3 Ecosystem In Telegram At $1bn Valuation

July 3, 2025

The mindset of Retail Investors

July 3, 2025

Cooking.City Bringing Back Value Redistribution To Solana Fair Launches

July 3, 2025
Most Popular

U.S. government grants $162 million to microchip technology to increase semiconductor production

January 5, 2024

Shiba Inu (SHIB) price appears likely to fall

January 26, 2024

Custodia Bank’s access to the Federal Reserve

April 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.