Following a few days of retracements and consolidation during the weekend, bitcoin seems to be preparing for another charge toward the coveted $100,000 target.

Many altcoins have also turned green today, with AVAX skyrocketing to almost $50 and XRP reclaiming the $1.5 level.

Is BTC Aiming at $100K Again?

It was a highly positive trading week for BTC as the asset started last Monday at around $90,000 but quickly resumed its bull rally and shot up to a new all-time high at the time on Wednesday of $94,000. After a minor pullback, it went on the offensive again, and broke above $95,000 on Thursday.

The gains continued on Friday when bitcoin came agonizingly close to $100,000. In fact, it was just $200 away from it on Friday evening, but the bears managed to defend that level and didn’t allow it to break.

The weekend went with some retracements, as the cryptocurrency slipped to $98,000 on Saturday and below $96,000 on Sunday evening. Nevertheless, it managed to bounce off and has neared $99,000 once again now. This has put the $100,000 speculations back on the table for today.

For now, BTC’s market cap has risen above $1.950 trillion on CG, but its dominance over the alts is down again, this time to 55.3%.

AVAX Shoots Up

The altcoins also registered some notable price declines on Sunday evening, but most have managed to reverse the trend. ETH is up by 2.5% and now sits above $3,450. SOL has climbed above $250 after a 1.4% daily increase. DOGE, ADA, TON, SHIB, and SUI have marked minor price gains as well.

Ripple has jumped above $1.5 once more after adding 6% since yesterday. LINK, DOT, NEAR, ICP, and BCH have also increased by substantial percentages in a day.

Avalanche’s native token is the top performer today, gaining over 14%. As a result, AVAX now sits close to $50.

The total crypto market cap has recovered most of the Sunday losses and is up to $3.550 trillion on CG.

TL;DR

• While Ripple has secured key partial victories in its lawsuit with the SEC, a complete resolution has yet to be officially announced.
• The company’s CLO, Stuart Alderoty, praised the resilience of the team and the support of the XRP community, hinting at a potential turning point in the battle.

Is the Case Over?

The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) is one of the hottest topics in the cryptocurrency space. It dates back to December 2020 when the watchdog sued the firm, accusing it of raising over $1.3 billion through an unregistered securities offering by selling its native cryptocurrency, XRP.

The case underwent countless developments over the years, with Ripple securing some vital partial court wins. Most recently, the company’s chief legal officer, Stuart Alderoty, shared a post on X, hinting at a complete victory and fueling huge enthusiasm across the XRP community.

He praised the “courage” and “resilience” of Ripple’s team, which “provided the blueprint to defeat Gary Gensler’s inexplicable war on crypto.”

“We kept the door open long enough for the industry to survive and seize this incredible moment. The faith and support of the XRP Army provided much-needed hope in the darkest days. Thank you,” the post reads.

While no official announcement signals that the case has been officially settled, numerous X users assumed that Alderoty could have inside information that the upcoming Trump administration may propel a faster resolution. 

Gensler Has Less Than 2 Months Left

The XRP army had a cause for celebration recently. As CryptoPotato reported last week, the SEC’s Chairman Gary Gensler confirmed he will step down on January 20. During his tenure, the agency filed numerous lawsuits against crypto businesses (such as the aforementioned versus Ripple). 

His departure was somewhat expected since Donald Trump promised to fire him on day 1 after assuming office. We have yet to see who Gensler’s successor will be, and the indications are that the new Chairman might have a pro-crypto stance.

Despite the SEC’s leadership change, the case against Ripple remains ongoing. It will be interesting to see if a potential resolution announcement will follow Alderoty’s mystic post or if we will have to wait until next year to witness more drastic developments. 

TL;DR

• CHILLGUY’s price headed north in the last 24 hours, outperforming DOGE, SHIB, and other leading meme coins.
• While investing in meme coins might sound quite intriguing, it carries high risks, especially for inexperienced traders, and can lead to significant losses.

Pumping Again

The meme coin niche has started recovering from the latest correction, with numerous assets charting mild gains in the past 24 hours. However, there are some whose prices have exploded by double digits for the same period.

One evident example is the recently launched Solana-based meme coin – Just a chill guy (CHILLGUY). Its valuation is up almost 50% on a daily scale, currently trading at around $0.44. Its market cap briefly exceeded $500 million before slightly retracing to $440 million.

The exact reason behind the asset’s rally remains unknown. However, multiple market participants have recently speculated that the token might be listed on Binance. Support from such a major exchange will increase CHILLGUY’s accessibility and boost its liquidity, potentially leading to another price explosion. 

The asset saw the light of day last week, quickly capturing the crypto community’s attention. Among the people touching upon its progress was El Salvador’s BTC-loving president – Nayib Bukele. He posted a picture of the smirking dog (the logo of CHILLGUY) on his official X account, sparking a flurry of reactions.

Still Far Away From the Top

Despite its solid pump as of late, CHILLGUY has yet to catch up with the sector’s leaders. Dogecoin (DOGE) remains the biggest meme coin, with a market capitalization of over $63 billion. Shiba Inu (SHIB) follows next with $15.3 billion, while Pepe (PEPE), Bonk Inu (BONK), and dogwifhat (WIF) are below the $10 billion mark. 

Memes have become one of the highlights of this bull cycle, offering the chance of impressive profits to people who jump on the bandwagon at the right time and cash out before it’s too late.

On the other hand, the niche could be quite dangerous to inexperienced and overleveraged traders and might lead to crucial losses.

Those about to enter the ecosystem should follow some key rules, such as investing only as much as they are ready to lose and conducting proper research beforehand.