Cryptocurrency
Ripple (XRP) News: May 13th

The past few weeks have been quite eventful for Ripple and its native token, XRP. In this article, we’ll review the most recent updates and analyze the asset’s price dynamics.
Is the Legal Battle Against the SEC Over?
The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has been among the hottest topics in the crypto industry for years. Over the past several months there were numerous developments which brought the case closer to its long-anticipated final.
Long story short, in March, Ripple’s CEO claimed that the SEC had dropped the appeal against the company. Earlier this month, the two sides shook hands on a $50 million settlement, which would mean the official end of the tussle if the judge on the case approves it.
This represents a significant reduction from the $125 million fine that Ripple was previously ordered to pay for allegedly breaking certain securities laws.
The XRP Army celebrated the latest move, but some members of the agency seemed unhappy. SEC Commissioner Caroline Crenshaw, for instance, argued that this ruling undermines the previous one and discredits the watchdog’s enforcement program.
“The settlement joins a line of dismissals that collectively erode the credibility of our lawyers in court who are being asked to take legal positions today contrary to the ones taken just months ago. And it stands in defiant contravention of the doctrine of (the) regularity of government affairs,” she added.
XRP ETF on the Way?
The introduction of the first spot XRP exchange-traded fund (ETF) in the United States has been a mission for multiple well-known companies, including Grayscale, 21Shares, Bitwise, WisdomTree, and others.
Not long ago, the SEC delayed its decision on Bitwise’s application, extending the period to June 17. The community has now shifted its attention toward July 2, which marks the final deadline for the SEC’s decision on Grayscale’s proposal to convert its Digital Large Cap Fund (GDLC), which includes XRP, among other cryptocurrencies, into a spot ETF.
The launch of such a financial vehicle will give investors additional options to gain exposure to Ripple’s cross-border token, which might positively impact its price. According to Polymarket, the odds of the product seeing the light of day before the end of the year are close to 80%.
While a spot version is still not live in the US, Teucrium and ProShares recently received the green light to launch futures-based XRP ETFs in the world’s biggest economy. Those curious to check all developments on that front can take a look at our detailed article here.
RLUSD Gains Traction
Ripple made the headlines last year when it announced its plans to design a stablecoin pegged 1:1 to the American dollar. The product, dubbed RLUSD, went live in mid-December and was initially embraced by leading crypto exchanges such as Uphold, Bitso, Bitstamp, Moonpay, and more.
In the following months, other popular industry players followed suit. For instance, Kraken allowed trading services with RLUSD in April.
Most recently, the US-based Gemini also hopped on the bandwagon. The exchange, led by the Winklevoss twins, enabled deposits and withdrawals approximately a week ago.
While RLUSD has made some serious progress in recent months, it still lags behind the big names in the niche. As of this writing, it has a market capitalization of just north of $315 million, while the leaders, USDT and USDC, have $150 billion and $60 billion, respectively.
XRP Price Outlook
Ripple’s native cryptocurrency was at the forefront of gains yesterday (May 12), with its price soaring to a two-month peak of almost $2.70. In the following hours, it retraced to the current $2.54 (per CoinGecko’s data).
Its impressive surge caught the eye of multiple analysts, some of whom envisioned a further upswing in the short term. The X user, Captain Faibik, predicted a pump to $5, citing a falling wedge pattern breakout.
Crypto Patel reminded that XRP has surpassed the $2 support zone. “If price holds above this level, we could see a move toward $3.28 and eventually $10+,” they added.
Meanwhile, Ali Martinez estimated that “on-chain data shows XRP has no major resistance clusters ahead,” suggesting the “up only” path could be in play.
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Cryptocurrency
VeChain Kicksoff $15M StarGate Staking Program After SEC’s Staking Clarity

Layer 1 blockchain platform, VeChain, is set to launch its $15 million StarGate staking program on July 1. The latest rollout is expected to be one of its largest incentive initiatives amid broader industry interest in staking adoption following SEC guidance.
According to the official press release shared with CryptoPotato, the new program arrives days after the SEC clarified that protocol staking does not constitute a securities offering.
$15M StarGate Staking Program
StarGate introduces direct-from-protocol staking on the VeChainThor blockchain, utilizing NFT technology, which enables holders with as few as 10,000 VET to participate while earning higher rewards under the network’s upgraded Weighted Delegated Proof of Stake system.
The program forms a core part of the VeChain Renaissance roadmap, which is the blockchain’s most significant technical overhaul to date, and features enhanced tokenomics, EVM equivalence, and a reworked staking structure. The primary goal of these features is to make VeChainThor more appealing to developers and institutional participants.
In an effort to drive early adoption, the VeChain Foundation has allocated 5.48 billion VTHO tokens, which are valued at approximately $15 million. This will provide a six-month bonus rewards pool that will boost APY for participants who migrate their nodes or stake VET during the program’s initial phase.
Approved staking tiers will range from the Dawn tier, requiring 10,000 VET, to the Mjolnir X tier, requiring 15.6 million VET. The structure also offers higher yields for larger commitments, while smaller holders will still earn rewards within the new system.
VeChain Applauds SEC Ruling on Staking
The launch comes as ETF issuers and banks weigh staking integrations following the SEC’s landmark decision wherein the agency ruled that protocol staking does not constitute a securities offering, and removed registration requirements for solo, self-custodial, and custodial staking. Applying the Howey test, the SEC found that staking rewards stem from participants’ actions, not others’ efforts.
Responding to this clarification, VeChain CEO and Founder, Sunny Lu, said,
“The SEC’s recent guidance validates what we’ve been building toward: a fully compliant, accessible staking model that treats rewards as compensation for network services rather than investment returns. Our innovative approach of leveraging NFTs to represent participation ensures both simplicity for users and full regulatory alignment.”
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Cryptocurrency
Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH

An on-chain analytics firm analyzes the losses from a fraudulent wallet.
The beauty of trading on-chain lies in the fact that every transaction is 100% public – that goes for both professional traders, beginners, and, believe it or not – even hackers.
This is the story of a supposed fraudster who lost millions in a bad trade.
Hackers Are Not Savvy Traders
Lookonchain, a popular blockchain analysis firm, noted the activity early this morning on its account on the social media platform X.
The wallet in question, which, according to the analysts is linked to illicit hacking activities, received 12,282 Ethereum (ETH) three months ago, valued at around $23.72 million at that time, and sold it at $1,932 per coin.
Earlier today, the same culprit purchased 4,958 ETH at $2,495, totaling $ 12.37 million.
This results in a de-facto loss of around $6.9 million, as noted by Lookonchain.
It’s Not Just Cybercriminals Out Of Luck
As CryptoPotato reported yesterday, it’s not just bad actors that wind up out of pocket.
We noted two separate instances in which two traders, cumulatively, lost multiple millions on very high-risk, overleveraged trades.
Both were testing their luck with 40x and even 50x leverage, only to see their positions shrink as the markets did not turn in their favor.
One tried one too many times to come on top, and the other one failed to realize a significant profit.
This just goes to show that testing fate can quickly lead to an enormous shortfall, regardless of the trader’s intention and the manner in which the funds used for the transactions were obtained.
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Cryptocurrency
Shiba Inu-Themed Meme Coin Tanks After OKX Says Goodbye: Details

TL;DR
- A popular meme coin within SHIB’s ecosystem nosedived by double digits after OKX withdrew its support.
- Team member LUCIE addressed the panic, urging users to embrace DeFi over centralized platforms and warning that even major exchanges aren’t immune to collapse.
BONE Heads South
Shiba Inu (SHIB) is a meme coin that has evolved into a robust ecosystem over the past few years. One of the most popular tokens within the network is Bone ShibaSwap (BONE).
The asset has not been in its best shape lately, posting a 32% decline on a monthly scale and plunging by 12% in the past 24 hours alone.
The main reason triggering the latest downfall is OKX’s decision to withdraw its support from the meme coin. The well-known cryptocurrency exchange announced that it will delist several digital assets on July 7, with BONE included in the list.
OKX has already suspended deposits involving the token, while withdrawals will be terminated by the end of September.
“We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary,” the company concluded.
OKX boasts over 50 million users globally and is among the behemoths in its field. When it withdraws support for a token, it often leads to negative price impacts driven by reduced liquidity, limited access, and potential reputational concerns.
BONE saw the light of day in the summer of 2021 alongside the debut of ShibaSwap – Shiba Inu’s decentralized exchange. It enables holders to vote on development proposals and influence protocol decisions, serves as a reward for liquidity providers, and functions as a gas token for Shibarium. During its early days, its price skyrocketed above $15, while currently, it trades at a mere $0.18.
The Community’s Reaction
One person who gave their two cents on the delisting effort is the X user LUCIE, who serves as Shibarium’s marketing strategist. The team member thinks there’s much panic over two (unnamed) “manipulative” exchanges that have withdrawn their support from the token.
LUCIE said they don’t want to be involved in the drama, putting their trust in DeFi and highlighting its advantages over centralized platforms:
“I trust DeFi. Use good exchanges only to exchange. We’re here to build and embrace DeFi – and simplify it so even beginners can onboard without needing 2FA, KYC, and a blood sample just to get started.”
Shibarium’s executive also noted that SHIB and other cryptocurrencies, like XRP, have faced similar FUD (Fear, Uncertainty, and Doubt) but have survived the backlash over the years. At the same time, LUCIE reminded about the demise of former giants like FTX and WazirX, hinting that centralized exchanges are not immune to another collapse of that type.
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