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The XRP price is up almost 3% to trade for $0.6488 as of 06:44 EST time, with a 65% surge in trading volume.
This follows news that the US Securities and Exchange Commission (SEC) has requested up to almost $2 billion in fines for Ripple Labs. Attorney James Filan shared the redacted version of the motion that was made public earlier today.
#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has filed its Motion for Remedies and Entry of Final Judgment, its Memorandum of Law in Support of that Motion, and its "Proposed" Judgment.https://t.co/uPlpJ7Tmon
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) March 26, 2024
XRP Price Still Northbound As Ripple Faces Up To $2 Billion In Penalties
The SEC accuses Ripple of unlawfully selling $1.3 billion in unregistered securities through the sale of XRP tokens to both retail and institutional investors.
Ripple’s Chief Legal Officer Stuart Alderoty indicates that the firm will file its response next month.
As you will see when the SEC’s brief is made public tomorrow, they ask the Judge for $2B in fines and penalties. 1/4 https://t.co/HM8dBbn7lp
— Stuart Alderoty (@s_alderoty) March 25, 2024
Alderoty criticized the SEC, and expressed his trust in the court to approach the remedies phase fairly.
Ripple CEO Brad Garlinghouse also weighed in on the matter, saying the SEC is involved in “gross abuse of the power entrusted to it by the Congress.”
Gensler’s SEC has repeatedly acted outside the law – not going unnoticed by Judges admonishing the agency for a "gross abuse of the power entrusted to it by Congress" (DEBT Box case) and for acting without "faithful allegiance to the law" (Ripple case). Let’s not also forget… https://t.co/vay6WDBfJc
— Brad Garlinghouse (@bgarlinghouse) March 25, 2024
XRP Price Outlook
The XRP price continues to consolidate within an ascending parallel channel on the three-day timeframe. If XRP token holders can keep their profit-booking appetite in check, the Ripple price could extend the gains into the supply zone extending from $0.7312 to $0.7942. A break and close above the midline or mean threshold of this order block at $0.7620 would confirm the continuation of the uptrend.
In a highly bullish case where the Ripple price flips this supply zone into a bullish breaker, it could extend a neck higher to the second order block between $0.8200 and $0.8667.
Based on the technical indicators, the upside potential remains alive, with the Relative Strength Index (RSI) rising. This signifies growing momentum as buying pressure continues to increase. The presence of both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) in positive territory also tilts the odds further in favor of the upside.
More closely, the MACD is still moving above the orange band of its signal indicator, suggesting the bullish sentiment remains intact.
TradingView: XRP/USDT 3-day chart
On the other hand, if the bears recover the market, the XRP price could retract. This could see Ripple price lose support offered by the midline of the channel, or lower to test the support offered by the lower boundary of the channel.
For the prevailing bullish thesis to be invalidated, however, the XRP price must break and close below the $0.5000 psychological level. This would constitute a fall about 20% below current levels.
Another token that is benefiting from bullish sentiment is GBTC, a new ICO and Bitcoin derivative that experts say might be the best crypto to buy now.
Promising Alternative To XRP
Green Bitcoin is a gamified version of Bitcoin currently available in a presale and poised to launch in the second quarter. This blockchain project takes a unique approach to staking by aligning it with a game of predicting Bitcoin’s price. It is an ERC-20 token, with the ticker symbol GBTC.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
An integral aspect of this project is its green feature, having been built atop the Ethereum Blockchain. With this, it consumes 10,000 times less energy than Bitcoin. Extending its “green” philosophy, Green Bitcoin rewards users who actively participate in staking and accurately predict Bitcoin’s price within the “green zone,” incentivizing environmentally conscious engagement with the platform.
🌱💰 Bitcoin hits $70K fueled by MicroStrategy and others. Meanwhile, Green Bitcoin (GBTC) on Ethereum offers eco-friendly crypto investment with staking rewards and prediction perks. Raised $3.2M in presale, eyeing Q2 2024 growth after $3M+ launch success. #Crypto… pic.twitter.com/zFX85v75tE
— ChameleonPlays (@Chameleon_Plays) March 13, 2024
This innovative project has come to the crypto space with a unique utility: gamification of crypto. With this, it has introduced a novel “Gamified Green Staking” mechanism that helps investors earn and enhance their passive income. The fundamentals of this mode of operation are set to foster long-term engagement in the Green Bitcoin ecosystem.
Green Bitcoin’s Predict To Earn Function
The project’s evolution advances further with the introduction of Predict to Earn 2.0. It promises to revolutionize staking predictions through enhanced features that elevate the experience via gamification and increased engagement.
Nothing can stop the GREEN REVOLUTION!
Join the Green Bitcoin presale TODAY pic.twitter.com/YgwUk11Ay8
— GreenBitcoin (@GreenBTCtoken) March 11, 2024
The Predict to Earn 2.0 function is such that participants predict price movement trends, and earn rewards. It is a fun way to engage with the market and boost your earnings.
Green Bitcoin (GBTC) Lets You Earn Huge Rewards With Its Predict-To-Earn Mechanism https://t.co/4zZNr7OPqB pic.twitter.com/wus4RvQQdQ
— J.M. Marquez (@CEOjmmarquez) January 8, 2024
Each GBTC token is selling for $1.1062 right now. It is likely to sell out imminently, so act soon if you are interested.
Visit and buy Green Bitcoin here.
Also Read:
- How To Buy Green Bitcoin (GBTC) – Presale Review
- Green Bitcoin Price Prediction – $GBTC Token Potential In 2024
- How To Buy Green Bitcoin On Presale – Alessandro De Crypto Video Review
- Which Crypto Coin Will Pump Next? Strategic Investors Have Their Bet on Green Bitcoin ($GBTC)
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