1. Blockchain-related projects
The CEO of MasterCard has announced a partnership with central banks for a digital currency project. MasterCard is collaborating with companies like Ripple to research and develop new Central Bank Digital Currencies (CBDCs) with an emphasis on transparency, consumer privacy, and stability. This move represents a significant development where major companies are investing in cryptocurrencies and leveraging technology, which bodes well for the cryptocurrency market’s growth.
2. Ripple SEC Lawsuit News
In the case of Ripple, which issues the virtual currency XRP, the Securities and Exchange Commission (SEC) filed a lawsuit alleging securities law violations in the so-called “REPL case.” The SEC claimed that XRP qualifies as a security. In response to the lawsuit, parties dissatisfied with the legal interpretation sought permission to appeal to a higher court for an intermediate appeal, seeking a reconsideration of the judgment. As it stands, a ruling has been made that XRP is not a security, favoring Ripple’s side. However, the recent filing of the lawsuit has led to confusion among stakeholders due to circulating rumors that the SEC is making contradictory claims compared to its previous stance.
3. ADA Market Analysis
The price of ADA (Cardano) is currently experiencing sideways movement within a triangle pattern, raising the possibility of a bearish market bottom reoccurring. Unless the price surpasses 38 cents, this situation is likely to persist. Further evidence is still needed for a direct upward move, but attention is currently focused on the triangle pattern. The price is within the support area of the D-wave and an upward movement of the E-wave is anticipated shortly. The E-wave typically constitutes the final wave of a triangle, and a breakout in the opposite direction would lead to a new bear market bottom. A breakout below at least 22 cents is expected, but further decline is also possible. It’s advised to observe cautiously until strong evidence is obtained and to monitor whether the price surpasses previous highs to confirm an upward movement.
Quoted URL
https://www.youtube.com/watch?v=hgFQJKW5x1Q
https://www.youtube.com/watch?v=BpknJ-F5AW8
https://www.youtube.com/watch?v=TAGMjEJj4iA
