TL;DR

• Ripple is disputing a $2 billion SEC penalty over XRP sales, advocating for a reduction to $10 million, with predictions suggesting a possible $100 million settlement.
• The company has gained partial court victories that bolster its position in the lawsuit.

$100 Million Instead of $2 Billion?

The lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), which has been ongoing since December 2020, recently heated up with actions coming from both parties.

Last month, the regulator sought a $2 billion penalty on the firm, alleging XRP sales violations. Earlier this week, Ripple’s chief legal officer – Stuart Alderoty – said the company had filed its official opposition to the agency’s request. The entity outlined several important reasons why the fine should not exceed $10 million.

The battle’s future outcome remains uncertain, with numerous industry participants speculating about the next move. One such person who recently gave his two cents is the popular lawyer Jeremy Hogan. He envisioned that the legal spat may be resolved via a $100 million settlement:

“I’m saying that the Judge will order 0 disgorgement but throws the SEC a bone and orders Ripple to pay a $100 million penalty.”

Hogan also believes that “based on what he’s seen so far,” the case might be closed in July or August this year. Recall that it recently entered its final phase, with a trial starting on April 23.

Not long ago, ChatGPT also estimated that a final judgment on the lawsuit may occur this summer. However, the chatbot predicted that potential delays and appeals from both parties could drag the conclusion to 2026.

Ripple Seems to Have the Edge

Crypto X is full of users who believe that Ripple has the better chance to emerge victorious due to the three vital (yet partial) court wins secured last year. The first one occurred in July when Federal Judge Torres ruled that the company’s programmatic sales to secondary trading platforms did not constitute offers of investment contracts.

Shortly after, the magistrates rejected the SEC’s intentions to appeal the initial decision, while a few months later, Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges brought by the Commission.

A decisive win for the firm may trigger an XRP rally, while the opposite scenario could negatively impact the token and the entire digital asset market. Those willing to learn more about the lawsuit and its impact on Ripple’s native cryptocurrency, feel free to take a look at our dedicated video below:

Pepe has displayed immense strength over the past 24 hours, pumping 15%.

Meanwhile, the new meme coin Dogeverse looks primed to explode next as its presale surges past $10 million.

Coinbase PERP Listing Explodes Pepe Price

Coinbase’s institutional-focused arm, Coinbase International Exchange, has launched Pepe perpetual futures contracts trading, enabling clients outside the United States to leverage trade the asset.

The move sparked widespread excitement, and its launch on Tuesday was well-received by the market, with Pepe dominating the meme coin sector since.

It is currently trading at $0.000007907, up 15% today, 47% this week, and 4.5% this month. Currently, Pepe holds a $3.3 billion market cap and a $1.6 billion 24-hour trading volume, up 62% today.

It is the 37th largest crypto by market cap but the 9th largest by trading volume. This reflects the market’s immense interest.

Coinbase’s futures listing has also ignited anticipation that a spot listing on the main platform may follow.

“Coinbase added PEPE perpetual for institutional investors. Spot is next,” tweeted prominent market commentator Plazma recently.

The analyst also noted Pepe’s relative strength, highlighting that it has broken out on its price chart and is “pumping towards a new ATH.”

Other traders are also bullish on Pepe, with Max Schwartzman, CEO of Because Bitcoin, underscoring the significance of its recent bounce:

“You can learn just as much (if not more) from a rejection at a key level as you can from a breakout. After breaking out of a multi-month re-accumulation, Pepe tagged the 1.618 Fibonacci extension level.”

He continued, “The good news here is that since the 1.618 is now officially confirmed as valid and in play, that means that the 2.618 and 3.618 are also valid and in play. I’m very bullish. I expect multiples to be accomplished over the next couple of quarters.”

Based on the analyst’s chart, Pepe could soar to $0.00016 this year, over a 1,900% gain from its current price.

However, Pepe is not the only meme coin expected to return outsized gains in the upcoming bull rally. Another is the newly launched presale Dogeverse, which has raised over $10 million in its opening weeks.

Next Cryptocurrency To Explode

Amid the recent market pullback, Dogeverse has pushed ahead unfazed and has now surpassed the $10 million mark at presale.

Dogeverse’s relentless strength is a sign of things to come, but its use case supercharges this potential.

The project unleashes a new paradigm of meme coin innovation, launching on six blockchains to ensure seamless and ubiquitous accessibility.

The presale is already live on Ethereum, Base, Polygon, BSC, and Avalanche, and the token is also set to launch on Solana.

This negates the risk of users migrating from one blockchain to another, bolstering Dogeverse’s stability and long-term potential.

Another advantage is its staking mechanism, which encourages users to lock up tokens for passive rewards. They can garner a 107% APY, but this will fall as the staking pool grows.

Analysts are overwhelmingly bullish, with Micheal Wrubel recently notifying his 311K YouTube subscribers he has gone “all in” on the presale.

Meanwhile, prominent low-cap trader Jacob Bury dubbed it a “new 100x potential meme coin.”

The presale price will rise throughout the campaign, with the next uptick coming in one day or when the total raise hits $11.2 million.

Visit Dogeverse Presale

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DeGods, the NFT project that once held the highest market value on Solana, is contemplating a return to its original blockchain.

Founder Rohan Vohra, who goes by the pseudonym ‘Frank’ recently shared a test picture of bridging NFTs back to Solana, indicating a potential shift back to the platform where it first gained prominence.

• When DeGods debuted in late 2021, Solana was approaching its peak price, and its NFT ecosystem was growing rapidly.
• However, by the time it became Solana’s most valuable large-scale NFT project, SOL had significantly depreciated, and the broader NFT market was experiencing a downturn.
• DeGods first announced its departure from Solana in December 2022 and revealed that it would be migrating to Ethereum.
• This decision followed a tumultuous year for Solana, marked not only by prolonged outages but also by the Layer 1 blockchain’s entanglement in the turmoil surrounding the collapsed crypto exchange FTX. Vohra then said,

“There’s an argument to be made that [DeGods] has capped out on Solana. It’s hard to accept, but it’s been tough to grow at the rate we want to grow. If Ethereum is where we have to go to keep growing, it’s what we have to do.”

• Now, with the landscape potentially shifting once again, the project is exploring the possibility of returning to its roots in Solana, where its journey began.
• The news has sparked a range of reactions, with some expressing skepticism and criticism towards the idea of moving back and forth between blockchains.