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

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 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

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

Unlocking the Power of NFTs in Bitcoin: Exploring Digital Art on the Blockchain Using Ordinal Numbers – The Defi Info

February 29, 2024

Cardano Price Prediction: How Whales Could Change ADA’s July Forecast

July 14, 2024

Grayscale Bitcoin ETF sees $579 million in daily net outflows

January 16, 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.