Altcoin Buzz reports that Ripple’s XRP is facing renewed scrutiny from the US Securities and Exchange Commission (SEC). However, this development has not dampened the enthusiasm of XRP holders, who are instead focused on the cryptocurrency’s resurgence towards its record high of 2018. Meanwhile,, is also gaining traction as it inches closer to securing approval for its own exchange-traded fund (ETF).
Bitcoin is commonly seen as a key indicator of the market’s direction and has shown signs of bouncing back in accordance with favorable Consumer Price Index (CPI) data. The CPI rose to 2.9%, aligning with expectations, while the core CPI slightly exceeded forecasts at 3.2%. These figures boosted market sentiment, alleviating concerns about a bleaker economic outlook.
Despite its recent price spike, Bitcoin is facing resistance as it approaches the $100,000 mark. According to Altcoin Buzz’s market experts, a period of consolidation above $98,000 could pave the way for a significant upward move, particularly in light of upcoming events such as the inauguration, which may influence market trends.
XRP and Litecoin are seeing an increase in activity due to legal updates and progress in ETFs.
The ongoing legal battle between XRP and the SEC is evolving. Ripple’s Chief Legal Officer has characterized the SEC’s appeal brief as a reassessment of previously unsuccessful allegations. Despite the legal uncertainty, XRP’s price has increased to $3.18, approaching its peak of $3.31 in 2018, indicating that the legal issues have not negatively impacted the coin’s value.
XRP’s market value has surpassed that of Disney and BlackRock, as indicated by recent reports, leading to a boost in momentum. U.S. Representative Guy Reschenthaler disclosed that he acquired XRP tokens worth up to $155,000, a sign of growing institutional interest in the digital currency.
Notably, Litecoin is also making significant strides, with its value surging in response to rumors of a potential ETF greenlight. According to Bloomberg analyst Eric Balchunas, the SEC’s engagement with the Litecoin ETF proposal suggests that it may be next in line to receive regulatory clearance, following in the footsteps of Bitcoin and Ethereum.
Whale wallets have amassed a substantial amount of Litecoin, holding approximately 250,000 coins since the beginning of the year. This accumulation highlights the growing anticipation surrounding the potential future of Litecoin as an asset backed by an ETF.
Sui and Cardano stand out as blockchain adoption increases.
At the same time, there has been a growing interest from the public, particularly in Turkey, towards Sui, a newer cryptocurrency. Over the last month, the number of active accounts has increased by 20%, and reports indicate that the decentralized exchange (DEX) volume for Sui has reached $50 billion. This trend highlights the global recognition of blockchain technology and the increasing influence of newly created alternative cryptocurrencies.
Notably, Cardano (ADA) has recently garnered significant interest, with large-scale investors accumulating 100 million ADA in the past day. Furthermore, Grayscale’s continued investment in such as XRP, Solana, and Litecoin, underscores its growing potential for securing an exchange-traded fund (ETF) listing.
The surge in Cardano’s value from $0.33 to $1 has revitalized investor optimism, sparking renewed discussions about the cryptocurrency’s potential for long-term growth and success.
Have shed light on his stake in several prominent cryptocurrencies, including Solana, sparked conversation about the increasing adoption of digital currencies among high-profile individuals and organizations.
In particular, his project World Liberty Finance recently acquired Ethereum worth $46.4 million, suggesting a deliberate accumulation during periods of low market value.
Experts emphasize that overcoming key resistance levels is crucial for sustained growth as the market adapts to shifting conditions. these levels could signal the cryptocurrencies, potentially ushering in the long-anticipated altcoin season.
