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XRP's Market Indicators Turn Bearish Despite Recent Price Increase and Popularity on LunarCrush

XRP has recently become the fourth largest cryptocurrency by market cap, surpassing BNB. However, its price has turned bearish, causing concern about its ability to maintain its position. Despite this, XRP remains a popular topic in the crypto community and is trending at number one on LunarCrush. However, its metrics and indicators have turned bearish, with its MVRV Ratio and network growth both declining. 

ICBLA Forms Task Force to Promote Legal Clarity and Fair Practices in the Digital Asset Industry

The International Congress of Blockchain Legal Advisors (ICBLA) has been closely following the SEC v. Ripple Labs et al. case and believes the split decision provides legal clarity for XRP and other tokens to power projects without the risk of enforcement action. ICBLA's Society of Fellows has created a task force to draft proposals for blockchain and crypto entrepreneurs to navigate the changing regulatory environment. These proposals include guidelines for token classification, compliance standards, consumer protection measures, taxation guidelines, AML and CTF rules, data security and privacy regulations, interoperability and standards, and a regulatory sandbox. ICBLA aims to promote legal clarity, innovation, and fair practices in the digital asset industry while protecting businesses and consumers.

XRP Price Outlook: Bulls Eyeing $1 Amid Positive Catalysts and High Trading Volumes

XRP has been trading around $0.80 for the past week, failing to hit the $1 level despite Ripple's win against the SEC. However, rising open interest in futures contracts and high spot trading volumes suggest a new leg up is possible. Positive sentiment has also been boosted by Ripple's investment in an AI and metaverse-focused project. While a move higher is likely, a negative flip in sentiment could risk a bearish retest with primary support below $0.70.

XRP Price Surges 100% After Landmark Ruling, But Network Growth Stalls

XRP experienced a 100% price increase following a court ruling that XRP sales to retail investors do not qualify as securities in the SEC's case against Ripple. However, technical and network usage data suggest a short-term pullback. While XRP's trading interest is increasing, the number of transactions on the XRP Ledger has remained consistent for over a year, indicating a scarcity of new entities actively participating in the network. Despite this, Ripple is ramping up efforts for XRP Ledger adoption, with plans to re-establish ties with banks and participate in a $54 million investment in a metaverse project.

XRP, XLM, and LINK Lead Cryptocurrency Market Surge as Bitcoin Dominance Drops Below 50%

XRP, XLM, and LINK have outperformed other top 50 cryptocurrencies by market cap in the past week, causing Bitcoin's market dominance to fall below 50%. This has led to speculation about the possibility of an altcoin season. XRP has seen a 70% increase this month due to a favourable ruling in the Ripple vs. SEC case, while XLM has rallied by over 50% and LINK has added more than 20% to its value following the release of its CCIP protocol. Shiba Memu, a meme coin project that combines AI and blockchain technology, has raised over $1 million in its presale and could potentially see its SHMU token rally higher in the future. It is important to conduct your own research and understand the risks before making any investment decisions.

Crypto.com Offers Up to $20,000 in XRP Rewards for Trading Campaign Celebrating Ripple's SEC Victory

Crypto.com is offering up to $20,000 in XRP as rewards for its ongoing XRP trading campaign. The campaign, called the "XRP App Campaign", has two categories: Net Buy Challenge and Trading Competition, each with a $10,000 prize pool. To participate in the Net Buy Challenge, users must perform at least $5 worth of XRP net buys on the Crypto.com exchange, while the trading competition requires users to trade at least $5 worth of XRP during the campaign period. Winners will receive their rewards in XRP tokens within 30 days after the campaign ends.

Ripple Applies for Licenses in UK and Ireland After Landmark Win Against SEC

Following the recent ruling by Judge Torres that XRP is not a security, Ripple is seeking to expand further in Europe and has applied for registration as a crypto asset firm with the UK's Financial Conduct Authority and for a payment institution license in Ireland. The company announced plans to expand to other European countries last year, and the recent ruling has given them confidence to seek approval for licenses in the UK and Ireland.

XRP Caps Two-Day Run with Highest Daily Close This Year, Futures Contracts Remain Elevated

XRP, the fourth most valuable cryptocurrency, had its highest daily close this year after a two-day run. The token briefly surged to an intraday high of $0.94 before correcting 28%. XRP's derivatives have also seen a significant spike in open interest, with futures contracts remaining elevated at levels not seen since November 2021. Despite other major digital assets remaining muted, XRP remains up 71% over the last seven days following a legal decision on its status as a security.

Regulatory Decisions and Altcoins: A Look at the Impact on Crypto Market Movement

The recent ruling by a US judge that XRP is not a security and the acceptance of BlackRock's bitcoin ETF application by the SEC has caused a 25% surge in XRP's price and increased volatility in digital assets. According to Greg Magadini from Amberdata, regulatory events have a significant impact on prices and movement in the crypto market.

XRP Community Corrects Politician For Calling XRP A Security

XRP community members, including lawyer John Deaton, corrected House Republican Jane Adams after she referred to XRP as a security. Deaton explained that while XRP may be used in securities transactions, it is not itself a security. XRP's price has risen by 5% in the past 24 hours and by 75% in the past week. Analysts predict that XRP's price will continue to rise and may surpass $1.