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Crypto Prices Suddenly Red: Bitcoin at 95,000 USD, XRP Plummets
In a surprising decline, Bitcoin's price dropped to 95,000 USD early in the morning, dragging the entire crypto market down with it. According to BTC-ECHO | Bitcoin & Blockchain since 2014, many altcoins experienced sharper declines, with Ripple (XRP) dropping nearly ten percent to 2.21 USD and Cardano (ADA) losing over twelve percent.
Despite these short-term losses, some investors remain optimistic, as the Fear & Greed Index continues to show "extreme greed." This could indicate that further market movements might be on the horizon.
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XRP Corrects: Ripple CEO Criticizes SEC and Media
Ripple's CEO Brad Garlinghouse once again sharply criticized the SEC in an interview, also targeting media coverage. As reported by BTC-ECHO, the company has so far had to spend over 150 million USD on legal costs in the dispute with the SEC.
Garlinghouse specifically accuses the outgoing SEC Chief Gary Gensler of waging a "war against crypto." Despite the drop in XRP's price, Garlinghouse remains optimistic about positive developments due to political support for cryptocurrencies in the future.
SEC Out of Control? Ripple CEO Criticizes US Regulators!
According to FXStreet's German site, Brad Garlinghouse criticizes the SEC's regulatory practices as hindering innovation within the crypto industry. He emphasizes the enormous costs of the ongoing proceedings and Ripple's commitment to creating clear rules rather than deregulation.
A potential appointment of Paul Atkins as the new chairman is seen as an opportunity to create more leeway for the industry, which could positively impact XRP's price.
Ripple (XRP) to Enable Smart Contracts – Focus on DeFi
Besides current market developments, Ripple is working to further develop its network technologically. Block-Builders.de highlights that the company plans to introduce native smart contracts, thereby expanding its position in the decentralized finance (DeFi) space.
An in-house stablecoin called RLUSD might also be introduced, although regulatory approval from New York is still pending. These developments could open up new use cases in the long term and provide the token with additional liquidity.
Ripple's XRP: USA's Next Strategic Weapon?
According to a report by Coin-Update, potential exists in the US to strategically use XRP. Researcher Anders argues that this is particularly relevant given plans to launch a USD stablecoin that could revolutionize cross-border payments.
During his potential second term, President Donald Trump aims at implementing crypto-friendly policies to help make America the "crypto capital" and support the establishment of national reserve stocks.
Conclusion:
The recent events clearly demonstrate both challenges and opportunities facing not only individual projects but the entire industry as it seeks to offer innovative solutions while complying with regulatory frameworks.
Sources:
- Krypto-Kurse plötzlich rot: Bitcoin bei 95.000 USD, XRP bricht ein
- XRP korrigiert: Ripple-CEO teilt gegen SEC und Medien aus
- SEC außer Kontrolle? Ripple-CEO rechnet mit US-Regulierern ab!
- Ripple (XRP) will Smart Contracts ermöglichen – DeFi im Fokus
- Ripple’s XRP: USAs nächste strategische Waffe?
- XRP-Kurs im freien Fall: Setzt sich die Korrektur fort?
