The regulator claims that Coinbase's document discovery requests are overly broad and disproportionate to the needs of the case.
The Crypto Fear and Greed Index recorded a score of 17 out of 100 on Aug. 5 — the lowest it has been since July 12, 2022.
Bitcoin is falling. Earlier today, the coin crashed to as low as $49,000, a 30% dip from July highs. Even though the coin has briefly retraced, peeling off some losses, the downtrend remains, at least from the candlestick formation in the daily chart. The sharp sell-off of Bitcoin is weighing on the altcoin and crypto […]
Lawyers for the SEC say Coinbase is “overreaching” in its efforts to subpoena emails from its chairman as the exchange continues its fight.
After experiencing the worst crash in 2024 during the past 48 hours, the crypto market – led by Bitcoin (BTC) and Ethereum (ETH) rebounded significantly today. According to the latest crypto data, the total crypto market cap rallied around 5 percent to regain above $2 trillion on Tuesday during the early Asian session. Ethereum price …
The cryptocurrency market has started the week on a strong bearish note amid increased speculations of a global recession. This further resulted in the top tokens breaking down their respective support levels. On the other hand, the altcoin leader, Ethereum price recorded a 24-hour low of $2,162.23, highlighting a bear power. Planning on investing during …
The cryptocurrency market has been rocked by a seismic sell-off over the past 24 hours, with the two largest digital assets, Bitcoin (BTC) and Ethereum (ETH), plummeting over 20% in value. At the epicenter of the chaos is one of the industry’s biggest names – Justin Sun, the founder of the TRON blockchain. On-chain data suggests that Sun may have used the pullback to scoop up millions of dollars worth of Ethereum at discounted prices. Market Meltdown Wipes Out $600 Billion According to a Fortune report, this market upheaval unfolded against a backdrop of widespread stock market sell-offs triggered by a disappointing jobs report and perceived inaction by the Federal Reserve (Fed). Despite recent positive developments in the crypto sector, such as the launch of Ethereum ETFs in the US in July, digital assets mirrored the stock market downturn. The total crypto market cap tumbled from over $2.5 trillion on July 28 to approximately $1.9 trillion on Monday, marking the most substantial loss since 2022. Related Reading: Bitcoin RSI Goes Bearish For The First Time Since August 2023, Will It Crash Below $40,000? Crypto market maker Wintermute, described the crypto plunge to Fortune as “unexpected,” and attributed it to the US jobs report. The firm noted liquidations surpassing $1 billion in digital asset positions overnight, along with a $57 billion decline in altcoin market capitalization. Noteworthy was a selloff from Jump Trading, a Chicago-based trading firm that had played a significant role in the crypto industry before scaling back amid collapses and regulatory scrutiny. On-chain data by Spot On Chain indicate Jump moving $47 million worth of Ethereum to centralized exchanges (CEXs), though Wintermute cautioned against oversimplifying market movements by attributing them solely to Jump’s actions. Sun’s Ethereum Shopping Spree Amid this market turmoil, attention turned to Justin Sun, the founder of the TRON blockchain. Reports surfaced of a suspicious address linked to Sun buying 16,236 ETH with 37 million USDT stablecoin, as ETH plummeted to $2,112 on Monday, with an average purchase price of $2,279. The address, created three hours prior, allegedly withdrew 38 million USDT from the HTX exchange before acquiring the ETH tokens. It is further alleged that this address belongs to Sun due to its behavior mirroring previous ETH purchases by him. Related Reading: Why Is The Shiba Inu Price Crashing Today? Notably, Sun reportedly holds over 700,000 ETH, with recent data showing a substantial loss of around $280 million as Ethereum’s value dropped by 20%. Since February 8, 2024, Sun allegedly accumulated 377,590 ETH across three wallets, costing an estimated $1.15 billion. Despite Ethereum trading well below his average buying price of $3,051, Sun has denied rumors of liquidation. In a social media post, Sun stated: The rumors about our positions being liquidated are false. We rarely engage in leveraged trading strategies because we believe such trades do not significantly benefit the industry. Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, working on projects, and helping project teams provide liquidity. At the time of writing, ETH has managed to bounce back to the $2,460 level, with a 346% increase in trading volume over the past 24 hours, amounting to $76 billion, according to CoinGecko data. Featured image from Shutterstock, chart from TradingView.com
In the ongoing case of SEC vs Coinbase, the U.S. SEC recently complained to a federal judge, asserting that Coinbase’s efforts to obtain records from SEC Chair Gary Gensler were excessively broad. The latest development is where the SEC is prosecuting Coinbase for alleged securities law violations. Coinbase’s Demand for Transparency Paul Grewal, Coinbase’s Chief …
BNB price is recovering higher from the $400 support zone. The price is now facing hurdles at $490 and might remain at risk of another decline. BNB price started a recovery wave from the $400 support zone. The price is now trading below $500 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $490 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could start another decline if it fails to clear the $490-$500 resistance zone. BNB Price Faces Key Hurdles In the past few days, BNB price gained bearish momentum below $500 like Ethereum and Bitcoin. The price declined below the $450 and $435 support levels before the bulls emerged. A low was formed at $403 and recently started a recovery wave. The price climbed above the $435 and $440 resistance levels. There was a move above the 23.6% Fib retracement level of the downward move from the $576 swing high to the $403 low. It even cleared the $465 resistance. The price is now trading below $500 and the 100-hourly simple moving average. It is now consolidating near the 50% Fib retracement level of the downward move from the $576 swing high to the $403 low. On the upside, the price could face resistance near the $490 level. There is also a key bearish trend line forming with resistance at $490 on the hourly chart of the BNB/USD pair. The next resistance sits near the $500 level. A clear move above the $500 zone could send the price higher. In the stated case, BNB price could test $515. A close above the $515 resistance might set the pace for a larger increase toward the $540 resistance. Any more gains might call for a test of the $550 level in the near term. Another Decline? If BNB fails to clear the $500 resistance, it could start another decline. Initial support on the downside is near the $465 level. The next major support is near the $450 level. The main support sits at $435. If there is a downside break below the $435 support, the price could drop toward the $420 support. Any more losses could initiate a larger decline toward the $400 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $465 and $450. Major Resistance Levels – $490 and $500.
With the rising FUD for a global recession around the world, the cross-border markets have experienced a significant correction in their respective portfolios. Moreover, market leader Bitcoin price has recorded a 24-hour low of $49,121.29. Following this, top altcoins have recorded a similar price action and have plunged below their important support levels. Ripple’s XRP …
The shift in ETF investments highlights changing investor sentiment and potential long-term impacts on the cryptocurrency market landscape.
The post US Bitcoin spot ETFs bleed $168 million amid market chaos, Ether ETFs gain appeared first on Crypto Briefing.
Why did the crypto market lose 15% of its value in one weekend? Thank the Bank of Japan for playing a starring role.
Bitcoin declined by a very similar amount following the halving in 2016 and before the 2017 bull run.
XRP price started a recovery wave from the $0.4320 support. The price is up over 8% and now faces hurdles near the $0.5120 zone. XRP price traded below the $0.500 and $0.4550 support levels. The price is now trading below $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to recover higher if it clears the $0.5150 resistance zone. XRP Price Starts Recovery Wave XRP price extended losses below the $0.500 support like Ethereum and Bitcoin. The bears even pushed the price below the $0.4550 support zone. The price tested the $0.4320 zone. A low was formed at $0.4320 and the price recently started a recovery wave. There was a move above the $0.4550 and $0.480 resistance levels. The price climbed above the 50% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The price is still trading below $0.550 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair. The bulls are now facing a major hurdle near the trend line and $0.5150. The first major resistance is near the $0.540 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The next key resistance could be $0.550. A clear move above the $0.550 resistance might send the price toward the $0.5550 resistance. The next major resistance is near the $0.5680 level. Any more gains might send the price toward the $0.580 resistance or even $0.5880 in the near term. Another Decline? If XRP fails to clear the $0.5120 resistance zone, it could start another decline. Initial support on the downside is near the $0.4880 level. The next major support is at $0.4750. If there is a downside break and a close below the $0.4750 level, the price might continue to decline toward the $0.4500 support in the near term. The next major support sits at $0.4320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4880 and $0.4750. Major Resistance Levels – $0.5120 and $0.5400.
The Shiba Inu community has launched a petition urging Binance, the world’s largest crypto exchange, to burn SHIB tokens. The petition, which has received an overwhelming response from SHIB supporters, has successfully crossed its first milestone, amassing over 1,000 votes. Shiba Inu Petition Crosses 1,000 Votes The Shiba Inu community has taken significant bold steps […]
Jan van Eck, the Chief Executive Officer (CEO) of VanEck, an American investment management firm, has maintained an extremely bullish stance on Bitcoin (BTC), the world’s largest cryptocurrency. According to the popular CEO, Bitcoin is set to witness an exponential surge to $350,000, driven by an adoption rate on par with gold. Bitcoin Set To Hit Ambitious $350,000 Target In an exclusive interview with Fox Business on August 2, Van Eck predicted that the price of Bitcoin could surge as high as $350,000. As one of the issuers of Spot Bitcoin ETFs, Van Eck is keenly aware of the volatility in the Bitcoin market and the cryptocurrency’s propensity for unexpected price fluctuations. Related Reading: Can XRP Rally 1,000X Despite The Drop Below $0.6? Despite these challenges, the CEO remains highly optimistic about the future value of Bitcoin. He highlights that other crypto bulls have an even more bullish perspective, with some forecasting that the price of one Bitcoin could soar to an astonishing price target of $2.9 million. While a $2.9 million price prediction might seem highly ambitious, Van Eck acknowledges that it could potentially be achieved within a few decades, specifically by 2050. The CEO has rooted his bullish expectations on the rapid adoption rate of Bitcoin in the financial sector. As the first and largest cryptocurrency, Bitcoin has shown remarkable growth over the years. It reached an all-time high of about $69,000 in 2021 and surpassed this milestone in 2024, surging above $73,000 following the launch of Spot Bitcoin ETFs. The cryptocurrency has also had an impressive adoption rate, with the number of BTC wallets reaching hundreds of millions globally. Van Eck has revealed that “Bitcoin is becoming adopted the way gold is.” The CEO projects that Bitcoin is poised to reach 50% of the total market capitalization of gold. According to reports, gold’s current market capitalization is about $16.6 trillion, while Bitcoin’s stands at $1.04 trillion. Based on Van Eck’s predictions, Bitcoin is set to reach a substantial market capitalization of approximately $8.3 trillion. This massive increase in market value would significantly boost the price of the cryptocurrency, allowing it to potentially reach the aforementioned $350,000 price target. BTC Could Be In Its Worst Performing Month This Year Despite witnessing impressive gains earlier in July, Bitcoin has experienced a major pullback in its price. Previously, the cryptocurrency surged as high as $70,000 but experienced a strong rejection before dropping in value. Related Reading: Ethereum Crash A Buying Opportunity? This Whale Thinks So According to CoinMarketCap, BTC has crashed by a whopping 23.95% over the past seven days. The cryptocurrency is still on a significantly downward trend, experiencing another 12.32% decrease in the last 24 hours. In light of this bearish trend, crypto analyst, Ali Martinez revealed in an X (formerly Twitter) post that historically, Bitcoin’s price tends to witness the worst performance between the months of August and September. With the recent downturn and a price crash to $52,859 this August, it seems history might be repeating itself. However, Martinez has indicated that Bitcoin’s TD sequential is presenting a buy signal, suggesting a potential rebound could be in sight. Featured image created with Dall.E, chart from Tradingview.com
The complainants and Coinbase disagree on whether a government contract to custody seized crypto breaches campaign finance laws or not.
Ethereum price started a recovery wave from the $1,910 zone. ETH is up over 10% and is now consolidating near the $2,500 zone. Ethereum started a recovery wave above the $2,250 and $2,400 levels. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to clear the $2,680 resistance zone. Ethereum Price Rebound 10% Ethereum price gained bearish momentum below the $2,500 support. ETH dragged Bitcoin lower and traded below the $2,200 support. It even spiked below the $2,000 level before the bulls appeared. A low was formed at $1,911 and the price recently started a recovery wave. There was a recovery wave above the $2,250 level. The price broke the 50% Fib retracement level of the downward move from the $2,920 swing high to the $1,910 swing low. Besides, there was a break above a key bearish trend line with resistance at $2,400 on the hourly chart of ETH/USD. Ethereum price is still trading below $2,650 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $2,550 level and the 61.8% Fib retracement level of the downward move from the $2,920 swing high to the $1,910 swing low. The first major resistance is near the $2,680 level. The next major hurdle is near the $2,650 level. A close above the $2,650 level might send Ether toward the $2,850 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,365. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward $2,050. Any more losses might send the price toward the $2,000 support level in the near term. The next key support sits at $1,920. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,365 Major Resistance Level – $2,550
Bitcoin is under immense selling pressure at spot rates, crashing below critical multi-month support at around the $53,500 to $56,000 zone. As bears take over, there are concerns that the coin could, after all, slip even lower, plunging towards the $50,000 and even $40,000 level in a bear trend continuation formation. Bitcoin Sellers Testing Resolve Of Determined Active Investors Despite the prevailing doubts, several on-chain indicators point to strength. Notably, one analyst observed that Bitcoin prices have dipped below the “moderate risk lower boundary of 9% from the average purchase price of active investors” for the fifth time in eighteen months. If history guides, prices are likely to bounce from spot rates, peeling back sharp losses posted over the weekend and into early Monday, August 5. Looking at price data, the average purchase price for these active investors (or addresses that bought BTC within the last 155 days) currently stands at $48,000. Related Reading: Chainlink: Market Panic Shaves 23% Off LINK Price – Details Earlier today, August 5, when prices crashed, BTC tumbled to as low as $49,000 before bouncing higher. Therefore, even with the drop, most active investors are not yet in full panic mode. Challenges will emerge once the $48,000 level is breached, testing the resolve of these investors. For now, looking at how intense the dump was and the accompanying trading volume, it is clear that bulls are not out of the woods yet. Should BTC fall again in the coming session, breaching $50,000 and $48,000, weak hands might choose to exit, fueling the sell-off. BTC In A Bearish Formation After Drop: Time To Take A Contrarian Approach And Buy? Technically, Bitcoin is now within a bearish breakout formation after the close below the consolidation. With July gains sharply reversed, losses spilling over throughout this week are highly likely. From this outlook, Bitcoin may slip to $40,000 in a bear trend continuation formation. Currently, from price active, one analyst also noted that the Bitcoin market value to realized value (MVRV) ratio is at levels last seen when FTX collapsed in November 2022. The MVRV ratio gauges whether the coin is available for a discount or not. Related Reading: Ethereum ETFs Struggles To Have a Positive Impact On Price, Whilst Investors Purchase Now Crypto at $0.00107 Though the coin briefly tanked to as low as $15,800, the recovery afterwards anchored the bull run of 2023 through to early 2024. Accordingly, if the August 5 events mirror the panic selling of late Q4 2022, Bitcoin could be available for a discount. Feature image from DALLE, chart from TradingView
Bitcoin price started a recovery wave after it crashed below $50,000. BTC is back above $55,000 and faces many hurdles near the $58,000 zone. Bitcoin started a recovery wave above the $52,500 and $55,000 levels. The price is trading below $58,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $55,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to clear the $58,000 resistance zone. Bitcoin Price Starts Recovery Wave Bitcoin price extended losses below the $52,500 support zone. BTC even traded below the $51,100 and $50,000 levels. A low was formed near $49,111 and the price recently started a recovery wave. It recovered above the $52,500 level and tested the 50% Fib retracement level of the downward move from the $61,040 swing high to the $49,111 low. There was a break above a connecting bearish trend line with resistance at $55,100 on the hourly chart of the BTC/USD pair. Bitcoin price is still trading below $58,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $56,500 level. It is near the 61.8% Fib retracement level of the downward move from the $61,040 swing high to the $49,111 low. The first key resistance is near the $58,250 level. A clear move above the $58,250 resistance might send the price further higher in the coming sessions. The next key resistance could be $58,800. The next major hurdle sits at $60,000. A close above the $60,000 resistance might spark bullish moves. In the stated case, the price could rise and test the $62,000 resistance. Another Decline In BTC? If Bitcoin fails to recover above the $58,000 resistance zone, it could start another decline. Immediate support on the downside is near the $55,000 level. The first major support is $53,500. The next support is now near $52,000. Any more losses might send the price toward the $50,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $55,000, followed by $53,500. Major Resistance Levels – $56,500, and $58,000.
Zoth's $4M funding to tokenize real-world assets could significantly bridge traditional finance with DeFi, enhancing liquidity and investment options.
The post Zoth secures $4M to build DeFi yield infrastructure with real-world assets appeared first on Crypto Briefing.
Both sides say they are open to restarting negotiations, but which actors are protected remains a sticking point.
On-chain data reveals what percentage of the entire Bitcoin userbase is still carrying a profit following the latest crash in the asset’s price. Bitcoin Has This Many Addresses Still Holding Net Gains In a new post on X, the market intelligence platform IntoTheBlock has discussed about the profit-loss status of the Bitcoin investors after the […]
Bitcoin sunk to under $50,000 at the start of US trading on Aug. 5, prompting a huge spike in trading volumes of crypto-related ETFs.
Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, which has taken its price to the $51,500 mark. Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis The below chart shows how the recent trajectory has looked like for the asset: From the graph, it’s visible that the latest sharp plunge in the BTC price is just an acceleration of the trend that the asset had already been witnessing since the last couple of days of July. On the 29th, the cryptocurrency was floating around the $70,000 mark, meaning that it had come down by more than 26% in only a week. Following this drawdown, Bitcoin is now back to the same level as that just before the late February rally, which went on to culminate in a new price all-time high (ATH). While BTC has had it bad during the past day, altcoins have in general had it even worse. Ethereum (ETH), BNB (BNB), and Solana (SOL), the three largest coins next to the original (excluding the stablecoin Tether), have all seen higher losses of 23%, 19%, and 21%, respectively. With prices across the sector crashing down, it’s not surprising to see that long investors have taken a heavy blow over on the derivatives side of the market. Crypto Liquidations Have Crossed $1 Billion, Majority Are Long Contracts The latest volatility in the various assets has meant the derivatives market has gone through chaos over the past 24 hours, as the data from CoinGlass below shows. As is visible in the table, a whopping $1.1 billion in cryptocurrency derivatives contracts have found liquidation in this period. “Liquidation” here naturally refers to the process any contract undergoes after amassing losses of a certain degree, where its platform forcibly closes it up. An extreme majority of these liquidations, around 85% to be more precise, involved the long holders. This is a natural consequence of the market as a whole going through a crash. Interestingly, though, despite the sharp plummet, $173 million in shorts still managed to get liquidated, which isn’t really a small amount. Thus, it would appear that a large amount of investors only put their bearish bets in when the crash was already finished. Related Reading: Bitcoin Price Plunge Deepens: What Could Prevent a Recovery? In terms of the individual symbols, Bitcoin and Ethereum have contributed to the mass liquidation event by nearly the same degrees, witnessing liquidations of $367 million and $350 million, respectively. Clearly, BTC is still ahead, but by only a small amount, which is not usually the case. The reason behind ETH’s high liquidations may be the fact that the recent launch of the spot exchange-traded funds (ETFs) had put more attention on the second largest coin by market cap. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Lawyers for the U.S. Securities and Exchange Commission (SEC) are pushing back against what they describe as Coinbase’s “breathtakingly broad” subpoena requests searching for “essentially all documents that in any way relate to crypto.”
Semler Scientific's Bitcoin strategy could significantly impact its financial stability and influence other healthcare firms to adopt similar approaches.
The post Semler Scientific acquires additional 101 Bitcoin, holdings now at 929 BTC appeared first on Crypto Briefing.
Amid the crypto market slump, rumors emerged that Tron founder Justin Sun’s positions had been liquidated. Sun denied the rumors and criticized the community’s FUD (fear, uncertainty, and doubt), pledging to create a fund to help the industry. Justin Sun Denies Liquidation Rumors Over the weekend, the crypto market saw a significant retrace that dragged […]
It comes as decentralized prediction platform Polymarket has gathered more than $500 million in bets on who will likely win the 2024 United States presidential election.
Ripple’s Q2 2024 market report recently highlighted a decline in a crucial on-chain metric that could significantly impact the the XRP price. This decline in network activity and several other factors threaten to send the crypto token to new lows soon enough. XRP Records Decline In On-chain Transactions According to the report, on-chain transactions on the XRP Ledger (XRPL) declined by 65.6% in the second quarter of 2024. 86.38 million transactions were recorded during this period, compared to 251.39 million in the first quarter of this year. A drop in the network activity is significant as it highlights investors’ sentiment towards the XRP ecosystem. Related Reading: Wondering When To Buy Bitcoin? Here Are The Levels To Watch This decline in network activity can also negatively impact the XRP price, especially if this trend continues in the third quarter of the year. A plausible explanation for the decline in on-chain transactions for the XRPL in the second quarter is XRP’s underperformance in the first quarter of the year. High expectations for XRP heading into the new year may have prompted investors to increase their exposure to the crypto, which led to the highs in network activity recorded in the first quarter. However, these investors may have had a rethink as XRP failed to reach new highs even when Bitcoin hit a new all-time high (ATH), leading to a decline in network activity in the second quarter. The silver lining is that XRP investors have regained their bullish sentiment towards XRP, leading to increased network activity. Bitcoinist recently reported a spike in new addresses and the number of addresses interacting on the XRPL, with these metrics reaching their highest levels since March earlier this year. The revived bullish sentiment among XRP investors is mainly thanks to the belief that the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple could end soon, presenting a bullish outlook for XRP’s price. However, if that doesn’t happen soon enough, XRP is at risk of witnessing a significant price decline as activity on the XRPL drops. Other Factors That Could Contribute To A Crash For The XRP Price The bearish sentiment in the broader crypto market is another factor that could contribute to massive price declines for XRP. Bitcoin is currently struggling to hold above $50,000, and the flagship crypto could send altcoins like XRP crashing if it continues to drop to new lows. XRP is also well-placed to be among the altcoins that will be most affected, seeing how the crypto token has so far reacted to Bitcoin’s recent crash below $60,000. Related Reading: Crypto Market Liquidations Top $197 Million As Bitcoin Price Plunges Below $60,000 The conclusion of the lawsuit between the SEC and Ripple could also negatively impact XRP’s price if the remedies awarded against the crypto firm align with the Commission’s proposed remedies. The SEC has asked Judge Analisa to award a fine of $102.6 million against Ripple, which is way above the $10 million that the crypto firm proposed. At the time of writing, XRP is trading at around $0.46, down over 16% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com