Important ripple and SEC Case Updates, Bitcoin (BTC) Price Volatility, solana Price Predictions
TL;DR
- BTC has been hovering between $59,000 and $65,000 over the past few days, settling at $61,700. Optimistic forecasts suggest a potential rise to $74,000 due to technical models and recent halving effects.
- The legal battle between Ripple and the SEC continues, focusing on whether XRP is an unregistered security.
- Solana‘s SOL rose 12% last week. Analysts are bullish, predicting new highs in 2024 and highlighting the asset’s strong market performance.
The primary cryptocurrency has experienced another serious turbulence in the past few days. Last weekend, its price fell below the $60,000 level, but the negative trend changed There was a significant revival at the beginning of the week.
BTC surpassed $65,000 on May 6 before heading south again. Currently valued stands At around $61,700 (according to CoinGecko data), it represents a 1% decline on a 24-hour scale.
Despite the recent decline, many industry participants are optimistic that the asset is yet to reach significant highs. Crypto’s X user Titan observed BTC’s latest price chart predicts that the “falling wedge” could lead to a rally towards $74,000 “sooner than many expected.” Adrian Zduńczyk was also on the rise claims He says $70,000+ is a possible target in May.
One factor that indicates BTC’s resurgence is on the horizon is its halving this happened last month. The event, in which the rewards distributed to miners for verifying blocks on the blockchain are halved, has historically resulted in a bull run for the asset and the entire cryptocurrency market. If you want to learn more about this, take a look at our exclusive video below:
Volatility and the SEC
The case between the two parties intensified at the end of April, when the trial phase began. Both parties have submitted essential documents, such as letters and motions, to the respective judges and are now awaiting the judge’s decision.
Recall that the legal dispute between Ripple and the SEC began in December 2020 and was related to the status of XRP. The regulator alleged that the company illegally raised more than $1.3 billion from an unregistered securities offering by selling XRPduring The firm insists that its native token should not fall under the agency’s jurisdiction.
Recently, there was another conflict between the parties. Like CryptoPotato reportedThe SEC criticized Ripple’s upcoming stablecoin, calling it a “new unregistered crypto asset.” The financial product has not yet seen the light of day and to be fixed to the American dollar.
SOL Predictions
load but at leastWe will talk about Solana’s native cryptocurrency, which has experienced a significant revival in recent days. LEFT increased by 12% on a weekly scaleIt is pumping above the $150 level for a short time.
Analysts such as Crypto Jack and Inmortal think the rally will continue in the coming months, setting impressive price targets. The first one admitted to taking a long position in SOL, to wait It will reach an all-time high before the end of 2024.
Negative described the token as “the fastest horse of the cycle” and envisioned A new peak was reached as early as this summer.
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