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Ripple (XRP) v. SEC Lawsuit: The Most Important Developments in 2023

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TL;DR

  • Ripple had several partial legal victories against the SEC in 2023, including a ruling favoring its XRP sales and the clearing of its executives from allegations.
  • The court’s decisions led to positive market reactions for XRP, with major cryptocurrency exchanges re-listing the token.
  • The final trial in the Ripple-SEC lawsuit is set for April 2024, with outcomes eagerly awaited by the cryptocurrency sector, as they could significantly influence the market and regulatory environment.

Ripple’s Winning Streak in 2023

The whole fiasco between Ripple and the United States Securities and Exchange Commission (SEC) started in December 2020. Back then, the watchdog fired the first shot, accusing the blockchain enterprise of selling XRP (the native token of the entity) in an unregistered security offering.

That action caused a heated battle, with both sides showing no signs of stepping back. Years passed by until one of the organizations took the upper hand. This happened in July 2023 when US Federal Judge Analisa Torres ruled that Ripple’s XRP sales to retail investors did not constitute an offer of investment contracts. Unsurprisingly, the court’s decision positively affected the price of the token, which briefly surpassed $0.80.

It also triggered a wave of support from leading cryptocurrency exchanges, such as Coinbase, Crypto.com, and Kraken, which re-listed XRP on their platforms.

Unhappy with the ruling, the SEC, under the regimen of Gary Gensler, attempted to appeal. However, the US magistrates dismissed that option, finding no substantial ground for a difference of opinion from the initial decision, giving Ripple a second partial victory.

The regulator had to endure a third setback at the end of October when Ripple’s CEO – Brad Garlinghouse – and Executive Chairman – Chris Larsen – were cleared of all accusations brought by the SEC. 

The Battle is Not Over

Besides granting Ripple three major (yet partial) wins, the US magistrates have not said their final word on the case. At the beginning of October, they set April 23, 2024, as the date of the grand trial between the entities. 

A month later, Judge Torres required both parties to comply with all necessary procedures before meeting in court. The SEC must file its brief with respect to remedies by March 13, 2024, whereas Ripple must file its opposition by April 12, 2024.

The outcome of the lengthy battle is anticipated by numerous cryptocurrency participants since a decisive victory for the blockchain firm could lead to an overall market boom and increase the legitimacy of the whole industry.

On the other hand, a potential win for the SEC might negatively impact the digital asset sector and prompt the implementation of stringent rules that could hamper investors’ interest.

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XRP Price Outlook: XRP Headed For $5 but Some Analysts Think BTC Bull Token Might Pump More

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XRP is rallying again, and some traders believe it could continue to rise to $5.

However, the new BTC Bull Token project is also gaining momentum in its presale – with one top analyst predicting it could deliver even bigger returns than XRP this year.

XRP Rebounds as Expert Predicts $5 Could Finally Be in Reach

XRP’s jump back to $2.30 has drawn plenty of attention, but what’s interesting is how the rebound started.

After dipping to the crucial $2 support level, the token reacted aggressively.

It bounced off support for the third time since February 3 and is now among the top five most-traded cryptos globally, thanks to retail traders jumping back in after seeing the token’s bullishness.

Popular analyst Ali Martinez thinks this momentum could carry XRP a lot higher.

He recently pointed out on X (Twitter) that XRP’s price chart had formed a head-and-shoulders pattern – usually bad news.

But Martinez claimed that if XRP avoids dipping below that pattern’s neckline and instead breaks above the right shoulder (around $2.90), it could trigger a more extended rally.

And that move might propel XRP towards $5 for the first time.

Legal Wins, Institutional Interest, and Whales – Why XRP Could Keep Climbing

While XRP’s technicals are starting to look promising, there might be even more positivity ahead, especially considering the bullish factors accumulating behind the scenes.

First, according to experts, XRP’s long legal battle with the SEC could finally be resolved by mid-April.

If Ripple wins, that alone could send XRP soaring by removing the uncertainty that has hung over the project for years.

But it’s not just about the legal drama – big money could soon be pouring in, too.

Institutional investors seem increasingly confident with Ripple, which is now licensed to expand XRP payments across the Middle East and Southeast Asia.

The success of spot BTC ETFs last year showed us just how explosive institutional inflows can be, and that sort of money could flow XRP’s way if it gets the green light.

Whale activity also indicates that XRP might be gearing up for another big move.

Transactions exceeding $1 million have risen in recent weeks, suggesting that whales are preparing for more upside.

This sets the stage for a rally to $5 like Ali Martinez predicted.

BTC Bull Token Gains Momentum in Presale – Could This Bitcoin Rewards Coin Outpace XRP?

While XRP’s bullish outlook is exciting, another coin is catching crypto traders’ attention this week.

BTC Bull Token isn’t your typical meme coin; it’s designed to benefit from Bitcoin’s momentum by rewarding holders every step of the way.

Think of it as a way to cheer Bitcoin on without holding BTC.

When Bitcoin reaches key milestones (like $150,000), BTCBULL’s team distributes Bitcoin rewards, giving the community passive exposure.

They’ll also burn some of the BTCBULL supply every time Bitcoin rises by $25,000.

And if Bitcoin reaches the $250,000 mark, a massive 10% of BTCBULL’s supply will drop directly into holders’ wallets.

Several top influencers have already backed the project, and analysts like Crypto Scholar believe BTCBULL might have a bright future.

He even suggested the coin could pump once it’s live on exchanges.

Crypto Scholar is adamant that Bitcoin will hit $250,000 this year, and if it does, it’ll be great news for the BTC Bull Token community.

Right now, BTCBULL is still in presale and has raised $3.5 million in early funding.

Interested investors can secure BTCBULL tokens at a discount using crypto, a bank card, or through the Best Wallet mobile app.

So, even though XRP might be on its way to $5, BTC Bull Token might have all the ingredients to pump more.

Visit BTC Bull Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Crypto Market Faces More Trouble as Traders See Few Signs of Recovery

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There has been a significant decline in crypto-wide trading volume following its peak on February 27th. Back then, traders were optimistically purchasing tokens as prices dipped.

However, in the two weeks that followed, market cap declines have contributed to a noticeable shift in trader sentiment.

Exhaustion, Hopelessness, And Capitulation

According to Santiment’s analysis, this shift can be characterized by exhaustion, hopelessness, and capitulation. The drop in trading volume has continued, even amid brief price recoveries such as the one observed on Wednesday.

This declining volume suggests a growing sense of caution among traders, indicating that many remain unconvinced that recent upward price movements will sustain. This lack of confidence is reflective of uncertainty, with fewer investors willing to buy at current levels due to concerns about potential losses.

Additionally, declining trading volume during minor price rebounds can serve as an early warning of weakening market momentum. Without significant buying interest to support price gains, any recovery may prove temporary, leaving prices vulnerable to another downturn. While falling volume during brief rebounds is not inherently bearish, it does reflect hesitation from both retail and institutional traders.

If both groups hold back, waiting for the other to re-enter the market and boost prices, this indecision may lead to stagnation with a slight downward bias.

For a stronger and more sustainable recovery, Santiment said that traders typically look for rising prices accompanied by increased trading volume. Until this occurs, prevailing market sentiment is expected to remain cautious, and hesitant investor behavior will likely dominate crypto trading patterns in the short term.

Stablecoin Activity Surges

On a positive note, the total amount of tokens transferred for all stablecoins is surging, which points to a potential accumulation by large investors. Historically, such spikes occur during consolidation phases rather than price declines. Such a trend could mean that major investors are likely absorbing market shocks through over-the-counter (OTC) transactions.

Increased active addresses further indicate increased network activity. With extreme fear sentiment dominating, this accumulation may point to a potential recovery phase. Once accumulation stabilizes, a futures market rebound is expected. Given the current “subdued” sentiment, any rise in futures prices is unlikely to overheat, but a short squeeze could accelerate recovery significantly.

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Ourbit Distributes 85% of $BITCH Memecoin to Community Alongside SuperCEX Debut with DEX Integration

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[PRESS RELEASE – Singapore, Singapore, March 13th, 2025]

Ourbit, one of the fastest-growing memecoin-focused exchanges of 2024, today announced the launch of Phase 3 of its $BITCH memecoin airdrop campaign. With Phase 1 continuing through March 31 and Phase 2 now completed, Ourbit is allocating 85% of the token’s 1 billion supply directly to community members through this multi-phase airdrop. This airdrop campaign coincides with Ourbit’s debut of the world’s first “SuperCEX,” a hybrid trading model that integrates DEX capabilities with centralized exchange functionality, poised to transcend the boundaries of CeFi and DeFi and reshape how crypto assets are traded.

Prophetic Listings Meets Degen DNA: The Memecoin SuperCEX

While traditional centralized exchanges have kept memecoins at arm’s length, Ourbit has consistently embraced them as a true cultural phenomena that drive expressions of community identity and crypto-native culture. The platform has established itself as a leading hub for memecoin trading because of its comprehensive selection of memecoin trading pairs, industry-leading memecoin liquidity, and its strategic approach – listing tokens like $SPX (up 96x), $VIRTUAL (up 56x), $KOMA (up 49x), and $ACT (up 46x) before their rise.

$BITCH: 85% to the Community, 100% to Degen Energy

From Ourbit’s perspective, memecoins are not simply speculative assets. With $BITCH, Ourbit is acknowledging the central role that memecoins play in onboarding new users to crypto and driving trading volume across the ecosystem. The $BITCH ticker represents the evolution of Ourbit’s beloved iconic “Queen” mascot – the fierce, commanding female figure who has become synonymous with the platform’s degen-first approach to crypto trading. While some centralized exchanges might remain detached observers of memecoin culture, Ourbit understands the unique psychology and motivations of degen traders.

[https://www.youtube.com/watch?v=u-cnFxSQkhI]

With the total supply of $BITCH being 1 billion, Ourbit is distributing 85% of $BITCH total supply to the community, demonstrating its maximum degen energy. $BITCH represents more than just a token—it serves as a cultural symbol that acknowledges and engages the degen community, which has played a key role in Ourbit’s expansion. This strategic move further solidifies Ourbit’s ambition in forging a new breed of exchange, for the next generation of degen traders.

3-Phase Airdrop: The Ultimate Degen Reward System

The $BITCH airdrop mechanics retroactively reward Ourbit’s early users while incentivizing new user acquisition and high-frequency trading activity for its DEX platform:

Phase 1: February 26th – March 31st, 2025 (ACTIVE)

  • Retroactive airdrops for Ourbit’s early supporters and users
  • Existing Ourbit users can visit Ourbit’s dedicated airdrop page at www.ourbit.com/activity/airdrop to check for eligibility for Phase 1 airdrops

Phase 2: March 3rd – March 10th, 2025 (COMPLETED)

  • Invite & Earn – Users can complete daily tasks and invite others to sign up on Ourbit DEX to accumulate points, with $BITCH distribution determined based on the points earned.

Phase 3: March 13th, 12PM EST (March 14th, 4PM UTC) until all mystery boxes are distributed

  • Invite & Trade – Mystery box fragments can be obtained through Futures trading, DEX trading, or inviting others to join. These fragments can be used to open mystery boxes, which may contain $BITCH rewards.
  • Crypto enthusiasts and traders interested in participating in the $BITCH Airdrop Phase 3 can visit www.ourbit.com/activity/airdrop to register for Ourbit’s DEX platform

Redefining Centralized Exchange (CEX) Architecture

Ourbit isn’t stopping with the memecoin launch. The siloed nature of CeFi and DeFi has been a significant barrier to mainstream adoption. Today’s traders shouldn’t have to choose between the speed of centralized platforms and the sovereignty of decentralized protocols. Ourbit has engineered a solution to one of crypto’s most persistent pain points. Its SuperCEX hybrid model is the industry’s first true integration of decentralized exchange (DEX) capabilities into a centralized platform. Ourbit has created the ultimate hassle-free trading experience where it handles all the complexity, so users can focus solely on capitalizing on opportunities.

SuperCEX: Trading Everything On One App

Ourbit’s SuperCEX delivers seamless access to both on-chain and off-chain assets through a single interface, fundamentally transforming how traders discover and access new assets:

  • No more juggling multiple wallets, exchanges, or Telegram trading bots
  • AI-curated trading feed for high-potential on-chain asset discovery
  • Real-time data and smart money tracking

*Currently, Ourbit’s DEX product is in the beta testing phase and only the website version is available, users can expect more upgrades and the app version to be on the way.

With Ourbit – The Future of Trading Is Hybrid

Ourbit is launching more than just a token and a new feature. By combining the $BITCH memecoin with the SuperCEX model, Ourbit creates a practical solution for traders who want access to all types of crypto opportunities in one place. The SuperCEX approach breaks down the walls between centralized and decentralized systems, giving traders what they actually need: maximum degen trading potential unlocked with institutional-grade trading tools.

About OURBIT

Ourbit is the world’s 1st SuperCEX integrating CEX and DEX in one platform, allowing users to trade all on-chain and off-chain assets in just one app. Ourbit delivers the most comprehensive memecoin trading pairs, industry-leading memecoin liquidity, and prophetic listing strategy with a proven track record of identifying explosive gems before other exchanges ($SPX 96X, $VIRTUAL 56X, $KOMA 49X since listed on Ourbit). Founded by ex-founding teams of top-tier exchanges with authentic roots in memecoin ecosystems, Ourbit has earned official endorsements from memecoin projects such as Retardio, HarryPotterObamaSonic10Inu and more. With its $BITCH memecoin launch in 2025 Q1, Ourbit SuperCEX combines institutional expertise with degen DNA to empower traders in pursuit of “meme-ionaire” dreams.

Website: https://www.ourbit.com/

X: https://x.com/Ourbit_Official

Telegram: https://t.me/Ourbitglobal

YouTube: https://www.youtube.com/@ourbitexchange

Contact: marketing@ourbit.com

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