Sign Up on MEXCCrypto Headlines Of The Week: Ripple Counters SEC While Bitcoin & ETH Battle Market Volatility
Highlights
- A collection of some of the top headlines for this week.
- Ripple's reply to SEC echoes a frenzy.
- Bitcoin continues to battle market conditions to gain a significant upside momentum.
- Ethereum and altcoins mimic BTC's turbulency.
The crypto world wraps up another week with eye-catching developments across the broader market. The XRP lawsuit took a new turn as Ripple Labs countered the SEC’s opposition to sealing key remedies-related documents. However, a common concern for many crypto investors persisted as Bitcoin (BTC) and Ethereum (ETH) continued to struggle to gain significant upside momentum. This struggle, along with a mixed trading session for other cryptocurrencies, marked the last seven days in the crypto market.
Here’s a collective overview of some of the top headlines:
XRP Lawsuit
The Ripple Labs vs. U.S. SEC lawsuit has taken an exciting turn this week. Ripple countered the SEC’s motion to oppose sealing key remedies-related documents. In its ‘reply letter’ to the SEC, Ripple Labs ruled out two primary reasons why sealing documents remains crucial.
On the other hand, pro-XRP lawyer Bill Morgan has stepped in to address the FUD surrounding XRP ODL sales this week, also disregarding the implications of Ripple’s lawsuit and escrow on XRP’s price. Meanwhile, XRP whales have become notably active, accumulating coins despite the asset’s sluggish market performance and uncertainty caused by the lawsuit.
Bitcoin (BTC)
The flagship crypto, on the other hand, experienced a tough week, as the token’s price continued to struggle to break significantly above the $70K mark. However, BTC briefly topped $70K, but the token soon witnessed a waning price trajectory back to the $67K level. This primarily aligns with crypto options expiry on Friday, May 31.
Additionally, the amount of BTC withdrawn from exchanges noted a phenomenal spike, worth $2.5 billion, per recent market data. This, collectively, has garnered significant attention toward Bitcoin this week.
Also Read: Hong Kong Hint Green Light For 11 New Crypto Exchanges, What’s Next?
Ethereum & Other Crypto Developments
Whereas, similar to Bitcoin, Ethereum and other altcoins have mimicked a turbulent price action this week. Despite the ETH ETF buzz, Ethereum struggled to maintain a break above $3,800, aligning with options expiry on May 31. Moreover, top altcoins SOL, XRP, and DOGE witnessed a sluggish movement over the past week.
Dogecoin(DOGE), Pepe coin (PEPE), and FLOKI whale activity have spiked considerably, whereas LUNC emerged as the new topic of discussion, making noteworthy advancements.
Also Read: Top Meme Coins To Buy Now After This Move By Binance
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
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