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cointelegraph.com Mar 19, 2025 17:08

SEC dropping Ripple case is ‘final exclamation mark’ that XRP is not a security — John Deaton - The US Securities and Exchange Commission dropping its appeal against Ripple is the “final exclamation point that these [XRP] tokens are considered digital commodities, not securities,” crypto lawyer John Deaton told Cointelegraph.Deaton added that there is still a $125-million judgment against Ripple over the improper selling of the XRP (XRP) cryptocurrency, which perhaps the company can negotiate down now that the SEC has dropped its appeal.Deaton is a well-known lawyer who represented XRP holders, arguing that their interests were not being represented in the SEC’s case against Ripple. He’d later run against Elizabeth Warren, a vocal crypto critic, for a senate seat to represent Massachusetts in Washington, DC.Related: Why is the Ripple SEC case still ongoing amid a sea of resolutions?Will Ripple drop its cross-appeal?One factor that will play out going forward is Ripple’s cross-appeal, which was filed in October 2024. Deaton believes the SEC doesn’t want Ripple to proceed with the cross-appeal because a ruling could hurt the commission’s jurisdiction and affect other cases.That gives Ripple some leverage in negotiating the settlement. “Everything’s turned,” Deaton said. “The election’s turned, the industry turned, the SEC [has] completely done a 180 as it relates to the industry. Why should we pay $125 million?”However, there still is the issue of the injunction issued by Judge Analisa Torres, which prevents Ripple from selling XRP to institutional investors to prevent violation of securities laws.“If Ripple obviously wants to be able to issue XRP to banks in America directly, I think the hang-up is that injunction and how do you get past that injunction,” Deaton said.Related: XRP’s role in US Digital Asset Stockpile raises questions on token utility — Does it belong?Ripple case was an attack on the industry“I remember when this case was first filed,” Deaton told Cointelegraph, adding:“I thought it was an assault on the industry, like the boot on the neck of the industry, and I was confident that it wasn’t going to be just a one-off, that it wouldn’t just be Ripple, that it was more of a message that the traditional finance, the banking system, the Elizabeth Warrens and the Gary Genslers of the world, had it in for the industry.”He added that Ripple can appeal to the fact that it never left the US even after the SEC brought the case and that it is an American-made company.“I think it’s to do with Brad Garlinghouse being able to say, ‘Well, look, we got sued by the US government and the Biden administration; we’re an American-made company, you know, [and] we never left.’ And I think that bodes well.”Magazine: Hall of Flame: Crypto Banter’s Ran Neuner says Ripple is ‘despicable,’ tips hat to ZachXBT

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cointelegraph.com Mar 19, 2025 17:32

SEC’s XRP reversal a ‘victory for the industry’: Ripple CEO - The US Securities and Exchange Commission’s dismissal of its years-long lawsuit against Ripple Labs, the developer of the XRP Ledger blockchain network, is a “victory for the industry,” Ripple CEO Brad Garlinghouse said at Blockworks’ 2025 Digital Asset Summit in New York.Earlier on March 19, Garlinghouse revealed that the SEC would dismiss its legal action against Ripple, ending four years of litigation against the blockchain developer for an alleged $1.3-billion unregistered securities offering in 2020.“It feels like a victory for the industry and the beginning of a new chapter,” Garlinghouse said on March 19 at the Summit, which was attended by Cointelegraph. Ripple’s CEO said the SEC is dropping its case against the blockchain developer. Source: Brad GarlinghouseRelated: SEC will drop its appeal against Ripple, CEO Garlinghouse saysMajor reversalThe dismissal is the latest — and arguably most significant — reversal by the SEC under US President Donald Trump. The agency previously dropped charges against other crypto firms, including Coinbase, Kraken and Uniswap, for similar alleged securities law violations. Under former President Joe Biden, the SEC brought upward of 100 enforcement actions against crypto firms, typically alleging failure to properly register products that former SEC Chair Gary Gensler said fell under the securities regulators’ jurisdiction. Trump has taken a friendlier stance toward the burgeoning industry, promising to make America the “world’s crypto capital” and appointing industry-friendly leaders to key regulatory posts. “The new chapter started with the reset at both the Congress and the executive branch […] when Trump came in and nominated Paul Atkins, Scott Bessent, [and] brought on David Sacks,” Garlinghouse said. Trump nominated Atkins and Bessent to head the SEC and Treasury Department, respectively. Sacks is Trump’s artificial intelligence and “crypto czar,” a newly created White House advisory role. “I really deeply believed that we were going to be on the right side of the law and on the right side of history,” Garlinghouse said of his company’s protracted legal fight with US regulators, adding that, in his view, the SEC was “just […] trying to bully” the crypto industry. Now that regulatory headwinds have subsided, Ripple is focusing on expansion, Garlinghouse added. “Ripple has invested over $2 billion in investments and acquisitions across the crypto landscape, and some of those have nothing to do with XRP because if crypto does well, I fundamentally believe Ripple will do well,” he said. Magazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 Gamer

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cointelegraph.com Mar 19, 2025 17:56

Cardano (ADA) on verge of 20% breakout as social sentiment indicator hits 4 month high - Cardano’s (ADA) price has managed a steady 13.5% in March after experiencing a 32% dip in February. The altcoin is still down 15% in Q1, but technical data is beginning to point to the continuation of the recent positive price action.Cardano 1-day chart. Source: Cointelegraph/TradingViewDespite ADA price moving sideways between $0.78 and $0.70 over the past 10 days, social sentiment related to the altcoin has hit a new year-to-date high.Cardano’s “bullish” sentiment soars to 4-month highAccording to Santiment, an onchain intelligence platform, Cardano’s social sentiment exhibited its highest positive measurement in four months. ADA investors received a boost from the US Securities and Exchange Commission’s (SEC) recent comments, which classified Cardano’s use case as “smart contracts for government services.” The SEC statement was followed by ADA’s highest ratio of positive comments since the first week of November 2024.Cardano’s crowd sentiment score by Santiment. Source: X.comA rise in social sentiment is often aligned with increased trading activity and, at times, higher prices. In Q4 2024, a rise in positive social sentiment and active transactions went hand in hand for ADA. However, the environment is slightly different right now. Data from Cardanoscan.io showed a stark difference between the number of active transaction counts from early November 2024 and now. In Q4, the average transaction count remained above 100,000 for most of November and December, but currently, it is roughly down 70%, with the number of transactions coming in at 26,437 on March 18.Daily transaction count and fees chart. Source: cardanoscan.ioRegardless of the weak onchain activity, Michael Heinrich, CEO of 0G Labs, told Cointelegraph that Cardano’s strength lies in “lobbying” its community. Speaking on ADA and XRP’s inclusion in a US Digital Asset Stockpile, Heinrich said, “They have time in the game: these tokens have been around for a while, they’re liquid, and they’re unlikely to spring any sudden surprises.”Related: Cardano’s ADA lands spot in US Digital Asset Stockpile — Will it generate value?ADA to rally 20% before the end of March?Irrespective of the underwhelming onchain data, ADA price has been receptive to positive news in the past. The altcoin has maintained a position above the 0.50 Fibonacci retracement line despite ADA being in a downtrend since its 2024 high of $1.32. This indicates that ADA’s high-time frame (HTF) chart remains on a technical uptrend. ADA/USDT 1-day chart. Source: TradingViewCardano retained support from the ascending trendline (black line) while oscillating between its parallel channel. Currently, the immediate resistance lies at the upper range of the channel at $0.78, which is supported by the 200-day exponential moving average (200-DEMA, orange line). A positive candle close above the 200-DEMA on the daily chart indicates a bullish shift, potentially triggering a move above $0.78. The immediate target above $0.78 lies between 0.84 and $0.88, where a daily fair value gap (FVG) is present. A retest of $0.88 marks a 20% return from its current price. However, historically, Cardano has exhibited prolonged sideways movement, which could limit immediate gains. A break above $0.78 validates further confirmation for a rally, but until then, the altcoin may continue to range between $0.78 and $0.70.Related: Bitcoin is just seeing a ‘normal correction,’ cycle peak is yet to come: AnalystsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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