XRP Price To Hit ATH In 2024 As SEC Plans No Appeal On XRP’s Status Ruling

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9 Mar 2024

XRP price to hit ATH in 2024, as pro-XRP lawyer offers optimistic forecasts amid legal clarity, market sentiment, and Bitcoin's influence.
Amid the volatile landscape of cryptocurrency, XRP has once again taken center stage as pro-XRP lawyer Bill Morgan predicts a surge in its value to all-time highs (ATH) in 2024. Meanwhile, as the Bitcoin price has recently touched its all-time high breaching the $70,000 level, Morgan’s optimistic forecast has captured the attention of investors.
So, let’s look at the key factors that have triggered the bullish outlook of the XRP lawyer.

Pro-XRP Lawyer Unveils Optimistic Outlook For XRP

Pro-XRP lawyer Bill Morgan recently hinted at a bullish trajectory for XRP price, foreseeing a potential surge to ATH in 2024. Drawing from historical data and market trends, Morgan emphasized the robust returns XRP typically experiences in the second and fourth quarters of the year.
Source: Bill Morgan, X
Meanwhile, in a recent X post, Morgan highlighted several key factors driving XRP’s potential growth. He stated that while the Securities and Exchange Commission’s (SEC) decision not to appeal the ruling declaring XRP not a security was significant, the market still awaits the resolution of the ongoing Ripple Vs. SEC lawsuit.
Besides, Morgan outlined four crucial factors necessary for XRP price’s full potential to be realized: legal clarity on XRP’s status, the conclusion of the lawsuit, XRP trading on US crypto exchanges, and Ripple’s ability to continue using XRP for its solutions without restrictive injunctions. Notably, he noted that only two of these conditions have been met so far.
However, the remaining factors are crucial for unlocking the asset’s full potential of the crypto, Bill Morgan said, underscoring ongoing uncertainty. But, despite the looming uncertainty his optimism persists, with expectations of XRP price reaching all-time highs this year, indicating resilience amid legal complexities and regulatory challenges.

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Market Sentiment and Bitcoin’s Influence

Morgan’s sentiments align with those of XRP influencer Moon Lambo, who emphasized the SEC’s stance on XRP’s status. Lambo suggested that the market remains largely indifferent to the ongoing Ripple Vs. SEC lawsuit, focusing instead on regulatory clarity and XRP’s utility.
Meanwhile, against the backdrop of Bitcoin’s recent ATH, Morgan urged investors to consider buying XRP, pointing out its low value compared to Bitcoin. With Bitcoin’s resurgence and XRP’s potential, Morgan’s advice resonates with those eyeing opportunities in the cryptocurrency market.

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In addition, he also suggests that XRP generally shows robust performance in the second and final quarter of the year, citing historical data. Notably, as of writing, the XRP price was up 1.44% to $0.6308, with its trading volume staying near the flatline from yesterday.
XRP Chart
Meanwhile, the crypto has touched a high of $0.6318 and a low of $0.6048 in the last 24 hours, suggesting the highly volatile condition of the crypto.
Also Read: Bitcoin (BTC) Bulls and Bears In Tight Fight, Altcoins to Lead Next Rally?

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Bitcoin (BTC) Bulls And Bears In Tight Fight, Altcoins To Lead Next Rally?

Bitcoin (BTC) Bulls and Bears In Tight Fight, Altcoins to Lead Next Rally?

Bitcoin News: Low Bitcoin funding rates signal a stable trading climate. With flat open interest, spot traders dominate while leveraged traders are cautious
By Bhushan Akolkar1 hour ago
Updated 59 mins ago

In conclusion, CrediBULL crypto emphasizes the overarching trend of Bitcoin’s price appreciation over time and advises investors to view dips as buying opportunities, anticipating eventual upward movement in the market.

Bitcoin Growth Cycle Can End in 150 Days

On-chain platform CryptoQuant throws light on the Bitcoin trends using the aSOPR metric. The Adjusted Output Profit Ratio (aSOPR) represents the ratio of spent outputs (those existing for more than an hour) in profit at a specific time window. This adjustment is achieved by excluding the movements of coins that existed for less than an hour.
When the value of aSOPR is above ‘1’, it suggests that more investors are selling their assets at a profit. Conversely, values below ‘1’ indicate that more investors are selling at a loss.
Examining data from past cycles, CryptoQuant notes that growth phases typically span between approximately 83 to 387 days. Taking the midpoint of this range, the average duration stands at approximately 235 days. Based on the current trend, with the ongoing growth period having lasted 138 days, it suggests a potential scenario where the Bitcoin growth cycle might conclude within the next 100-150 days.
Other market analysts predict that once the Bitcoin growth cycle takes a halt, the altcoins will lead the show of the next leg in the broader market rally.

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Crypto Prices Today March 9: Bitcoin At $68K, Ethereum Nears $4K, PEPE Gains 20% As FLOKI Rallies 50%

Crypto Prices Today March 9: Bitcoin At $68K, Ethereum Nears $4K, PEPE Gains 20% As FLOKI Rallies 50%

The crypto prices today registered a significant surge as Bitcoin inched closer to $69,000 and Ethereum held the $3,900 level.
By Coingape Staff2 hours ago

STORY HIGHLIGHTS

Bitcoin traded significantly above the $68,000 mark today, bracing for a new all-time high.
Ethereum inched closer to the $4,000 level, which is a massive milestone in more than two years.
Floki broke all records as it emerged as the top crypto gainer for the second consecutive day with about 50% gains.

The top crypto prices today witnessed a positive shift as the Bitcoin (BTC) price neared a new all-time high at $69,000 while other altcoins gained notably. In addition, the Ethereum price approached the $3,900 mark. Meanwhile, other top altcoins, such as Solana (SOL) and XRP witnessed a substantial price hike while Cardano (ADA) dipped

Major Crypto Prices Today

The Bitcoin price held firmly above $68,000 amid the bullish run. The Bitcoin price was up by 1.89%, reaching $68,434.94 at the time of writing on Saturday, March 9. On the other hand, it’s trading volume surged by 31.39% to $58.22 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.34 trillion.
Turning to altcoins, the Ethereum price gained 0.83% to $3,931.55 at press time with a market valuation of $472.14 billion. Whilst, ETH saw its trading volume increase by 14.71%, reaching $24.76 billion. Meanwhile, the Binance Coin (BNB) price surged by 4.30%, reaching $489.40. In addition, its 24-hour trade volume rose by 0.11% to $3.52 billion.
The Solana price sustained above the $140 level. The Solana price was up by 1.85%, settling at $146.83 On the contrary, SOL witnessed a 9.77% dip in trade volume to $5.36 billion in the last 24 hours. Whilst, the XRP price traded beyond $0.62 amid the gains. The XRP price recorded a gain of 0.48%, reaching $0.6277. However, XRP’s trading volume dipped by 3.41% to $2.08 billion.
Meanwhile, the Cardano price defied the gaining trend by dropping 0.38% to $0.7323 today. Whilst, ADA recorded a 7.03% hike in its 24-hour trading volume, settling at $899.59 million. As the top crypto prices witnessed a hike, popular meme coins also followed. The Dogecoin price gained 5.45% to $0.1714 while its rival, Shiba Inu price surged by 6.85% in value and traded at $0.00003561.
Also Read: Shiba Inu Aiming For The Second Peak Of The Week

Top Crypto Prices Today Are

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Bitcoin (BTC) Price Bull Rally To Continue Till November As Per Historical Data

Bitcoin (BTC) Price Bull Rally To Continue Till November As Per Historical Data

Bitcoin price faces some retracement after hitting a new all-time high above $70,000. Excessive FOMO and greed conditions yet not peaked out.
By Bhushan Akolkar2 hours ago

STORY HIGHLIGHTS

Historical trends show Bitcoin hits new market top 8-11 months after crossing previous ATH.
Bitcoin FOMO stage yet not peaked out suggesting the bull cycle to continue.
Bitcoin inactive coins are once again getting back into circulation.

The world’s largest cryptocurrency Bitcoin (BTC) rallied all the way past $70,000 on Friday hitting its new all-time high. Bitcoin has been on an unstoppable journey over the last month with net inflows skyrocketing in the newly launched spot ETFs.

Bitcoin (BTC) Price Bull Run

Renowned crypto analyst Ali Martinez has unveiled insights into Bitcoin’s market trajectory, drawing from historical patterns to forecast the timing of the next market peak.
According to Martinez, Bitcoin has exhibited a consistent trend in past cycles, taking approximately 8 to 11 months from surpassing its previous all-time highs to reach a market top. With Bitcoin currently surging to unprecedented highs, Martinez’s analysis further suggests that the next peak in the Bitcoin market could occur between November 2024 and February 2025.
Courtesy: Ali Martinez

What Happens to BTC Next After $70,000?

As the Bitcoin price challenges its previous all-time highs, it continues to face rejection as soon as it enters the new discovery phase. After hitting a new all-time high of $70,000, the BTC price has retraced partially and currently trading at $68,423 levels with a market cap of $1.350 trillion.
One of the biggest doubts within the community is whether fresh investments could be made at this point in time. Bitcoin has given a strong run-up ahead of its next halving, a month from now. Some investors speculate that the BTC price could rally to $100,000 around the halving time.
On-chain data provider Santiment explains that Bitcoin has surged to a new all-time high, hitting a remarkable market value of $70,199. Despite this significant milestone, traders are showing signs of both exhaustion and distraction towards alternative coins aka altcoins.
Currently, discussions regarding $BTC compared to other assets stand at a healthy 27.5%, indicating a balanced sentiment. However, it falls short of the overwhelming enthusiasm observed when Bitcoin surpassed $60K just nine days ago—an encouraging sign as excessive FOMO and greed often precede market corrections.
Furthermore, the Mean Dollar Invested Age metric reveals a rapid movement of previously inactive coins back into circulation, a common phenomenon seen in bull markets. Until sentiments of widespread excitement and coin dormancy resurface within the Bitcoin network, the potential for further market cap growth remains promising.
Courtesy: Santiment

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Shiba Inu Lead Spotlights Key Upgrades For SHEboshi & Burn

Shiba Inu Lead Spotlights Key Upgrades For SHEboshi & Burn

Shytoshi Kusama, Shiba Inu's lead developer, recently shed light on vital upgrades within the meme coin's ecosystem.
By Coingape Staff2 hours ago

STORY HIGHLIGHTS

Shytoshi Kusama, Shiba Inu's lead developer, unveils key upgrades.
Shiba Inu ecosystem tokens and SHEboshi witness remarkable events.
Shiba Inu price soars along with Bone and Leash.

Amidst a flurry of advancements witnessed across the cryptocurrency realm recently, Shiba Inu, a renowned meme coin, showcased a cyclone of breakthroughs with notable developments across its ecosystem, nabbing significant attention among crypto market enthusiasts. Among these developments illustrated by the meme coin’s community, Shytoshi Kusama, Shiba Inu’s lead developer, spotlighted key upgrades for the ecosystem’s tokens’ burn mechanism and the recently launched NFT initiative, SHEboshi.
Meanwhile, Shiba Inu traded in the green today, mirroring optimism aligning with the community’s recent developmental endeavors. Bone and Leash prices simultaneously noted an uptick, falling in line with Kusama’s upgrades announcement.

Kusama Spotlights “Token Torches & SHE Salute”

In a post shared by Shiba Inu’s lead developer on X, Kusama drew attention to remarkable new upgrades in the Shiba Inu ecosystem. According to this post, Kusama stated, “Today we torched a woof of SHIB, Bone and Leash while adding liquidity to SHEB!” sparking immense curiosity among crypto market traders and investors globally.

There you have it. 👇❤️‍🔥https://t.co/4KinbMCyjc
— Shytoshi Kusama™ (@ShytoshiKusama) March 9, 2024

Intriguingly, in what the developer calls Shiba Inu’s best week so far, the meme coin surpassed some of the most renowned altcoins, paving its way for a potential entry into the top 10 coins by global market cap. Although the coin currently stands at the eleventh position, the community hopes to move strongly into the top 10.
The recent launch of SHEboshi, an ERC-20 token, further added to the wave of optimism for Shiba Inu this week, coming as a remarkable achievement spotlighted by Kusama.
Aligning with all this, the developer listed vital details on Shibarium burns and recently added SHEB (Sheboshi) to the liquidity pool in ShibaSwap.
The developer’s post claimed that the community eyes burning 92 ETH in SHIB while successfully mitigating any losses while moving from Bone to ETH. Moreover, keeping in mind International Women’s Day, the community stated that it “took care” of SHEboshis, purchasing $38,894 worth of SHEB and then adding $69,280 worth of ETH and $38,000 in SHEB to the liquidity pool in ShibaSwap.
Notably, the lead developer’s post also shed light on the community’s operating income. With a total income of approx 600ETH, split in half (300 ETH) since a certain amount is dedicated to the community, a share of 10% is allotted to non-profits and burns ((6% Shib, 1% Bone, 1% Leash, 1% Treat, 1% Shi), whereas 15% is allotted to the ecosystem’s Foundation and Team, per the post. Intriguingly, this also marks the first Leash burn ever.
With these abovementioned developments and revelations weighing in, Shiba Inu rode a tidal wave of optimism today. In the interim, a hint towards an imminent Shib Token Torch product was also spotlighted in Kusama’s post, adding up to the optimism orbiting the meme coin.
Also Read: Ripple Labs Bags 2 Executives Amid Growing IPO Rumors

Shiba Inu Price Soars

As of writing, the Shiba Inu price noted a substantial uptick of 6.64% over the past 24 hours and is currently trading at $0.00003615. With a staggering 82,89% weekly surge, the meme coin reflected the lead developer’s best week.
Furthermore, its ecosystem’s tokens, Bone and Leash, also rallied remarkably over the past week, surging nearly 50% and 100%, respectively, falling in line with the abovementioned developments.
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Grayscale, Coinbase Make Headway In Ether ETF Approval Bid

Grayscale, Coinbase Make Headway in Ether ETF Approval Bid

SEC meets with Coinbase and Grayscale to discuss Ethereum ETF, sparking debate among analysts and investor interest.
By Maxwell Mutuma9 hours ago
Updated 2 hours ago

STORY HIGHLIGHTS

The SEC met with Coinbase and Grayscale Ethereum Trust on March 6, 2024, to discuss the potential approval of an Ethereum ETF.
Eric Balchunas expressed concerns over the SEC's silence towards ETF companies and the weak correlation between Ethereum's futures and spot markets.
Nate Geraci highlighted Coinbase's analysis, showing a strong correlation between Ethereum futures and spot markets, similar to Bitcoin.

On March 6, 2024, the US Securities and Exchange Commission (SEC) convened a meeting with representatives from Coinbase and Grayscale Ethereum Trust. This gathering marked a significant step in the ongoing discussions between the SEC’s Trading and Markets Division and the two leading cryptocurrency firms. The dialogue aimed to address the intricacies involved in the potential approval of an Ethereum ETF, a topic of considerable interest within the crypto and investment communities.
Eric Balchunas, a senior ETF analyst, shared insights on the meeting’s implications. He highlighted the absence of direct comments from the SEC to ETF companies as a concerning sign, especially given the timing relative to the commission’s usual schedule for commenting on Bitcoin ETFs. Balchunas pointed out the lack of a court defeat for the SEC on this matter and the weaker correlation between futures and spot markets for Ethereum compared to Bitcoin. These factors contribute to his cautious outlook on the prospects of an Ethereum ETF.

Grayscale Push for Ethereum ETF

Nate Geraci, another ETF analyst, provided a contrasting perspective on the discussions. He emphasized the focus of the meeting on analyzing the correlation between futures and spot markets for Ethereum. Geraci noted that Coinbase’s analysis suggested a strong correlation between Ethereum futures and spot markets, akin to that observed in Bitcoin markets. He also mentioned the SEC’s previous approval of future Ethereum ETFs traded on the CME, questioning the rationale behind any hesitation in approving spot Ethereum ETFs.
The meeting underscored the ongoing efforts by Grayscale and Coinbase to navigate the regulatory landscape and secure approval for an Ethereum ETF. Their engagement with the SEC reflects the broader industry’s desire to expand the range of crypto investment products available to investors.

Market Impact and Investor Interest Surge

The talks between Grayscale, Coinbase, and the SEC occurred two months after the regulatory body approved over a dozen spot bitcoin ETFs. This decision had a profound impact on the cryptocurrency market, driving prices to record highs and fueling investor demand for crypto investment products. Both Bitcoin and ether prices soared, with BTC surpassing $70,000 and Ethereum breaking the $4,000 mark on Friday.
Read Also: US Appeals Court Revives Investor Lawsuit Against Binance

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Just In: Ripple Labs Bags 2 Executives Amid Growing IPO Rumors

Just In: Ripple Labs Bags 2 Executives Amid Growing IPO Rumors

American blockchain payments firm Ripple Labs Inc has promoted two new staff to its Executive Team amid growing IPO rumors
By Godfrey Benjamin9 hours ago

STORY HIGHLIGHTS

Ripple has promoted two in-house staffs to he Executive Team
Ripple uncovered how it rewards contribution among its staffs
The promotion comes at a time when the clamor for Ripple IPO is at its strongest

As many market observers and experts are speculating whether crypto payment platform Ripple Labs will move forward with its IPO plans this year, the firm has promoted two of its employees to executive positions

Ripple Labs Bags New CFO and SVP

According to the announcement from the crypto company, Jon Bilich has been named the new Chief Financial Officer (CFO) of Ripple Labs while Mariel Kelley has equally been upgraded to the position of Senior Vice President (SVP), People and Places. Ripple CEO Brad Garlinghouse acknowledged the contributions that both individuals have made in the Ripple ecosystem.
Garlinghouse stated that their impact was greatly felt during their tenure in the firm, citing that “they both raise the bar on what it means to be a Rippler.”

Jon and Mariel haven’t just had a profound impact during their tenures at Ripple – they both raise the bar on what it means to be a Rippler. Very proud to now have them on our Executive team! https://t.co/hWEvvJRR46
— Brad Garlinghouse (@bgarlinghouse) March 8, 2024

The new appointments suggest that the Ripple ecosystem is expanding significantly and this has been the trend since it gained a partial victory against the United States SEC last year.
Following Judge Analisa Torress’s ruling that the Ripple-associated coin, XRP, is not a security, the firm started gaining attention from top crypto projects and even traditional finance companies.

Restructuring at Play?

Amidst its legal debacle with the U.S. Securities and Exchange Commission, Garlinghouse hinted at the plans of Ripple Labs to explore the possibility of an IPO. Considering the manner in which the Ripple boss made the statement, it appears that the company’s lawsuit with the SEC was the only clog in its IPO wheel.
In a report, Eleanor Terrett, a FOX Business journalist, stated that the IPO was discussed at a private event that Ripple held in April 2023. With all the talks, it was expected that Ripple Labs would conduct the IPO before the year-end, an ample time since the ruling against the SEC came in July.
Ordinarily, a company requires at least 6 months for all the preparation to go public via an IPO.
However, in January Garlinghouse announced suspending plans for the IPO in the United States. He cited the hostile” regulatory environment” in the region as the reason behind the company’s decision to halt its IPO move. Consequently, Ripple Labs confirmed that it was considering exploring alternative markets for the IPO.
The recent addition to its executive team might be part of Ripple’s restructuring plan to push into the IPO landscape again.

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Coinbase Momentum Builds, Stocks Exceed 2021 Listing Price

Coinbase Momentum Builds, Stocks Exceed 2021 Listing Price

Coinbase stock soars past 2021 IPO price, hitting $252 in 2024 amid a booming crypto market and strategic ETF partnerships.
By Kelvin Munene Murithi9 hours ago

STORY HIGHLIGHTS

Coinbase stocks leap 60% in 2024, hitting $252, outpacing 2021 IPO price.
Bitcoin's surge to $70K propels Coinbase's 300% annual stock rally.
Coinbase Custody's ETF partnerships forecast $30M in fees.

Coinbase Global Inc. has seen its stock prices soar, surpassing the initial listing price set during its 2021 direct public offering. This surge marks a significant recovery for the cryptocurrency exchange, which has experienced a tumultuous journey since its debut on the stock market.

Coinbase Record Performance in 2024

Since the year’s start, Coinbase (COIN) shares have rocketed by 60% to exceed $252 by March 2024, as previously reported by Coingape. This event is more remarkable because it is the first occasion in a couple of years that the stock price has exceeded the $250 level. This rebound is a subset of the larger movement that has seen the value of Coinbase stock gain by more than 300% in the past 12 months, compared with the $33 lows observed during the 2023 crypto winter.
The surge in the value of Coinbase’s stock is deeply related to the performance of the entire cryptocurrency market, especially to the new all-time high of Bitcoin. As of March 8, Bitcoin, for a short period, reached $70,000 in response to a mix of factors, including the increased investment flow into Bitcoin exchange-traded funds (ETFs) and the speculation of the forthcoming halving of the cryptocurrency.

Strategic Maneuvers and Market Influences

This success of Coinbase is also due to strategic partnerships and the firm’s increased presence in the growing Bitcoin ETF market. The exchange’s custody division, Coinbase Custody, has partnered with many asset managers that launched Bitcoin ETFs in January 2024. Such partnerships are projected to provide huge income for Coinbase, with estimated fees ranging from $25 million to $30 million