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Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely to attract buyers as the bulls will want to maintain the momentum going into the final month of the year. The bears are likely to have other plans as they will attempt to deepen the correction. That could boost volatility in the last few days of November as both the bulls and the bears try for a monthly closing in their favor. Daily cryptocurrency market performance. Source: Coin360 While near-term uncertainty remains, Rich Dad Poor Dad author Robert Kiyosaki reiterated his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twit...

The legal back-and-forth between the U.S. Securities and Exchange Commission (SEC) and Ripple (XRP) continues. The agency filed a petition late Friday, Aug. 18, asking Judge Analisa Torres, of the U.S. District Court for the Southern District of New York, to certify an interlocutory appeal . Recall how the SEC wasn’t happy with Torres’s previous ruling that XRP wasn’t a security . The ruling was celebrated by the cryptocurrency community. The market responded with a rally, led by XRP, while altcoins surged, sparking speculation of an impending altcoin season. The SEC, left with egg on its face, is now hoping to rectify the embarrassment. The agency is seeking permission to appeal Torres’s ruling that the XRP token is not a security when sold to the public, or retail traders. You might also like: Former SEC official: Bitcoin ETF approval won’t happen any time soon The stakes are especially high for the SEC since the decision could affect a slew of othe...

Also Read: Crypto Exchange Gemini Teases Hint Of XRP Relisting Soon advertisement Earlier, CoinGape reported that the SEC should be acting fast if it were to go for an appeal of the Summary Judgment. It remains to be seen how long the court takes to decide whether or not to accept the agency’s appeal. US SEC Seeking To Review XRP Ruling In the context of Terraform Labs cofounder Do Kwon trying to use the XRP ruling as a precedent in his ongoing lawsuit that involved fraud allegations. Kwon cited Judge Torres’ ruling that the sale of XRP is not a security to prevent the agency from charging him. In response, the US SEC had on Friday filed a pleading in the Terraform Labs case saying the court should not consider the Ripple judgment as the SEC is seeking to review it. “Respectfully, those portions of Ripple were wrongfully decided, and this court should not follow them. SEC staff is considering the various available avenues for furthe...

Read XRP Lawsuit News: SEC Chair Says He’s ‘Disappointed’ at Non-Security Tag advertisement Will SEC Engage With Congress Over Crypto Rule Making? U.S. Congressman French Hill along with Rep. Dusty Johnson sent a letter to the US SEC Chair, Gary Gensler stressing the cruciality of being productive in rules formation for digital assets. It is important to establish clear rules of the road for all market participants, it added. The letter mentioned that it is a priority for the House Committee on Financial Services and House Committee on Agriculture to make comprehensive rules. It is important for the country to push innovation and growth in markets. It highlighted that the committees did more than 15 hearings around digital asset policy over the past four years. This included a joint hearing of both committees where it discussed existing regulatory gaps. However, where Congress is working to fix the regulatory gaps steadily, the SEC is ...

The Ripple Vs SEC lawsuit came to a partial end last when the judge declared that XRP is not a security. The move was a win for the cryptocurrency industry and it kept the SEC’s intrusive nature in check. XRP jumped nearly 75% after the judgment going from a low of $0.46 to a high of $0.81. Also Read: Ripple XRP Claims Top Spot, Outshines Bitcoin in Trading Activity XRP/USD Chart by TradingView All eyes are on XRP as investors believe it could spike further as it no longer remains under the purview of the SEC. XRP broke away from the shackles of the lawsuit and it is now free to move up in the charts. Ripple: XRP Could Climb Above $6 This Year, Predicts Analyst Source – CryptoSlate Leading cryptocurrency analyst and YouTuber CoinsKid predicted that XRP could reach $6 by the end of 2023. The YouTuber explained the technical Analysis behind his prediction comparing the current situation to that in 2020. CoinsKid noted that XRP is making an ascending triang...

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing. A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.  Another bullish catalyst for the cryptocurrency markets could be a filing by asset manager Fidelity Investments to launch its Bitcoin spot ETF. CoinShares Chief Strategy Officer Meltem Demirors said that firms managing $27 trillion of assets are “actively” pursuing efforts to allow their clients exposure in the crypto space. Daily cryptocurrency market performance. Source: Coin360 Most of the focus in recent days has been on institutional money but the retail trader’s power should not be underestimated....