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Sui Network’s Largest DEX and Liquidity Provider Cetus Hacked for $260M

Elendu Benedict
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Sui Network’s Largest DEX and Liquidity Provider Cetus Hacked for $260M

Cetus Protocol, the largest decentralized exchange on the Sui Network, suffered a major hack on Thursday, reportedly losing nine-figure funds.

The prominent Sui-based DEX lost over $260 million to the hack today, the leading on-chain analytical firm Lookonchain confirmed. The hacker gained access and drained Cetus’s liquidity pool, the report disclosed.

Meanwhile, Cetus confirmed it detected abnormal activity on its protocol and has paused its smart contracts for “safety.” While the tweet did not explicitly state the platform was exploited, the team assured users it was investigating the situation.

Remarkably, data from the Cetus pool shows a spike in transaction volume. It has processed $2.9 billion in the past 24 hours, compared to the $320 million recorded a day before, confirming the unusual activity on the Cetus Protocol.

Hacker Drains Liquidity

Further analysis of the exploit shows the hacker drained Cetus’ liquidity pool of millions in SUI and USDC. Notably, the protocol is the largest liquidity provider on the Sui blockchain.

Oleksander Horlan, the CTO of on-chain security firm HackenProof, further elaborated on the hack. He noted that the exploiter swapped on Cetus using spoof tokens like BULLA and leveraged the miscalculated or broken price curve.

With the loophole, he manipulated the internal LP state and withdrew real assets like SUI and USDC while adding liquidity with a near-zero value. He also shared the address of the exploiter, which contained $75 million at the time of writing.

Lookonchain also confirmed that the hacker was moving the stolen funds to Ethereum, first converting them to USDC before bridging them to the smart contract network. The exploiter has already cross-chained $60 million USDC through this method.

Hacker Bridging Funds to Ethereum

Sui-based Tokens Crash

Meanwhile, many SUI-affiliated tokens have reacted adversely to the liquidity pool drain. BULLA crashed 60%, with other meme coins like SLOVE, Uni, and MEMEFI capitulating 93%, 77%, and 51%, respectively.

CETUS, the native token of the Cetus Protocol, also fell 34%, as tension among market investors surged. Nonetheless, SUI remains largely stable, correcting just 2.37% in the past 24 hours.

Crypto Community Rally Around SUI 

Amid the panic, major cryptocurrency players have rallied around the SUI ecosystem to show their support. For instance, Changpeng Zhao, Binance’s co-founder, confirmed in a tweet that the exchange is in contact with SUI and is doing its best to salvage the situation.

He also confirmed that multiple blockchain security entities are already working with SUI and Cetus to provide possible solutions. Furthermore, Bybit also released a statement on the hack, stating its willingness to support the Sui network or Cetus in any feasible capacity.

Here’s How a $5,000 Investment in XRP Today Could Grow in the Future

Abdulkarim Abdulwahab
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Here’s How a $5,000 Investment in XRP Today Could Grow in the Future

Versan Aljarrah, co-founder of Black Swan Capitalist, recently highlighted how a $5,000 investment in XRP today could appreciate over time.

In a tweet, Aljarrah shared a chart simulating various price scenarios for XRP against a $5,000 investment. The most optimistic projection envisions a scenario where the investment multiplies by 15x, potentially growing to nearly $80,000.

Notably, XRP is currently trading at $2.38. Based on this price, an investor could acquire approximately 2,101 XRP tokens for $5,000.

Potential Returns from a $5,000 Investment in XRP

According to Aljarrah’s projections, a 3x price increase from the current level would boost the investment to $15,000, assuming the price of XRP rises to $7.14. Notably, over the past year, XRP’s price has surged by 333%, supporting the possibility of such a move.

Aljarrah also suggested that XRP could experience a 10x rally from its current level. This would raise the token’s price to $23.80, increasing the value of a $5,000 investment to $50,000.

At a price of $23.80, XRP’s market capitalization would reach approximately $1.393 trillion. In a scenario where Ethereum does not see similar growth, especially if it remains below a $1 trillion valuation, XRP could potentially become the second-largest cryptocurrency after Bitcoin.

Interestingly, at that valuation, XRP would be more valuable than major corporations like Tesla, Berkshire Hathaway, Walmart, and JPMorgan.

However, Aljarrah’s projections do not stop at 10x. He emphasized that XRP could climb even further, possibly reaching 11x, 13x, and even 15x gains. In these hypothetical scenarios, XRP’s price would rise to around $26.18, $30.94, and $35.70, respectively.

The most ambitious projection of $35.70 would boost the $5,000 investment to approximately $75,000, yielding a $70,000 profit.

Notably, an XRP price of $35.70 would imply a market capitalization of around $2 trillion. This would bring XRP close to Bitcoin’s current market cap of $2.12 trillion. It also suggests a scenario where XRP rivals tech giants like Google and Amazon in valuation.

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Aljarrah spreadsheet for XRP potential scenarios

“That’s Not Happening”

Essentially, Aljarrah’s post outlines a range of hypothetical scenarios that could unfold if XRP’s price rises to trillion-dollar levels. However, he did not specify a timeline for when these projections might materialize.

Meanwhile, some proponents expressed skepticism about these predictions. While some laughed at them as numerical speculation, others pointed to market cap constraints as limiting factors.

Despite the skepticism, several technical analysts continue to express confidence that XRP could surpass $40 in the near future. One such analyst is South Korea’s Elliott Wave expert XForceGlobal, who previously stated he would mock those who doubted XRP’s potential to reach $20 once it eventually happens.

Meanwhile, analysts like Chad Steingraber and Rob Cunningham have used fundamental analysis to support high price targets for XRP, ranging from $15 to $75.

However, industry research from prominent firms like Bitwise suggests that it could take several years, possibly until the end of this decade, for XRP to reach prices between $12 and $30.

XRP Army Uncovers Ripple’s Hidden Road Link to $11T US Treasury Clearing Network

Abdulkarim Abdulwahab
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XRP Army Uncovers Ripple’s Hidden Road Link to $11T US Treasury Clearing Network

A recent discovery by XRP community members has shed new light on Hidden Road, the prime brokerage firm Ripple acquired in April.

Specifically, it revealed that Hidden Road joined the Government Securities Division (GSD) of the Fixed Income Clearing Corporation (FICC), part of the DTCC, as a member in March 2025, just weeks before Ripple officially announced the acquisition.

The membership grants Hidden Road access to a clearing system that processes over $11 trillion in daily U.S. Treasury trades. XRP community member Matthew called attention to this development in a tweet.

DTCC’s GSD Clears Over $11 Trillion Daily

According to a DTCC notice dated March 11, 2025, Hidden Road’s membership became effective on March 14, under participant number #9388. 

This allows the firm to participate in netting (buy/sell), repo netting, and GCF Repo transactions, key components of how large-scale Treasury operations are cleared in the U.S.

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DTCC notice for Hidden Road membership

GSD’s recent performance highlights the significance of this membership. Notably, it hit a record $9.2 trillion in daily volume on September 3, 2024, surpassing the previous high of $8.8 trillion in July.

More recently, FICC confirmed clearing over $11 trillion in U.S. Treasury trades as of April 9, 2025, a new all-time high.

The surge in activity comes in the wake of the SEC’s 2023 mandate requiring expanded central clearing for U.S. Treasury transactions. Before the rule’s finalization in December 2023, FICC’s average daily volumes hovered around $4.5 trillion. By the end of that year, they rose to $7.2 trillion, and in 2024, they breached $10.4 trillion on peak days.

Firms like Hidden Road are capitalizing on this trend. Ripple disclosed that Hidden Road clears over $3 trillion annually for more than 300 institutional clients. However, before the acquisition, settlement delays were a pain point.

XRP’s Place in Hidden Road’s Trillion-Dollar Market

Ripple aims to resolve this through integration with the XRP Ledger, which will handle post-trade operations. Specifically, XRPL will enable five-second settlements and greater transparency.

Expectedly, this has sparked renewed speculation in the XRP community. Some enthusiasts believe that if the system adopts XRP for settlement, even for $1.5 billion daily, the token’s price would jump to $30. However, Ripple’s latest blog post clarified that XRP will not be for settlement.

RLUSD Takes the Lead as Collateral Asset

Instead, Ripple confirmed that its stablecoin RLUSD will be collateral on Hidden Road’s platform. Since the XRP Ledger will be for infrastructure and post-trade processing, XRP’s place will be in transaction fees.

However, this revelation sparked debate within the XRP community. Some argue that RLUSD may be overtaking XRP as Ripple’s flagship asset in enterprise use cases.

Analyst Says the Secrets are Now Revealed, Identifies Condition for XRP to Claim $37

Sam Wisdom Raphael
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Analyst Says the Secrets are Now Revealed, Identifies Condition for XRP to Claim $37

Market analyst EGRAG recently discussed the next price direction for XRP from the current position, identifying the indicators to watch.

His recent analysis, which considered XRP’s price action on the weekly timeframe, comes as XRP faces a mild downturn despite the Bitcoin (BTC) push toward its all-time high. Particularly, XRP is down 2.87% this week, while BTC has gained 0.51% within the same period.

According to EGRAG, XRP’s price action depends heavily on the relationship between the 21-week exponential moving average (EMA) and the 33-week simple moving average (SMA). 

EGRAG Reveals When He Will Offload His XRP Bag

He then revealed when he plans to sell off his XRP bag, citing the relative positions of these moving averages. Specifically, the analyst plans to start offloading his XRP holdings when 21 EMA crosses below the 33 SMA, leading to what EGRAG calls a death cross.

He argued that this cross typically signals the top for XRP, suggesting the market is slipping into bearish territory. EGRAG believes several other analysts will expect the XRP price to push higher at that point. However, he is confident that the cross would mark a shift in trend from bullish to bearish.

Potential XRP Bearish Cross EGRAG Crypto
Potential XRP Bearish Cross | EGRAG Crypto

Notably, to determine the potential extent of the collapse following this cross, he called attention to historical data. The market watcher confirmed that when this same bearish cross occurred in May 2018, XRP dropped 87%, and when it materialized in November 2021, the asset slumped 72%.

He expects the next bearish cross to result in a crash of around 79.5% for XRP. This figure represents the average of the past two corrections. 

Potential XRP Price Targets from the Bullish Cross

However, EGRAG also called attention to the bullish side of his recent analysis, particularly the impact of a bullish cross between the 21 EMA and the 33 SMA. It bears mentioning that these moving averages observed a bullish cross in September 2024, when the 21 EMA crossed above the 33 SMA.

Following this bullish cross, XRP witnessed an impressive rally, soaring 520% above the $3 mark between November 2024 and January 2025. Nonetheless, EGRAG expects further upside from this cross, citing historical data from previous crosses. 

XRP Bullish Cross EGRAG Crypto
XRP Bullish Cross | EGRAG Crypto

The data shows that XRP soared 6,500% from March to May 2017 when the cross occurred in early 2017 and then rallied by another 1,600% from December 2017 to January 2018 when the bullish cross materialized in late 2017. The bullish cross occurred again in July 2020, leading to an 855% rise to $1.96 by April 2021.

From these previous upticks, EGRAG highlights price targets around $5.7, $9.5, and $37. However, the analyst suggests the most likely outcome for XRP would be a rally to $27. Notably, this represents a 1,600% increase from the value it traded for during the latest September 2024 bullish cross.

Historically, after hitting its target following a bullish cross, XRP has observed bearish crosses, leading to the downtrend earlier identified. Data from his chart suggests that EGRAG expects XRP to observe a bearish cross after reaching its $27 target, leading to the proposed 79.5% drop. Currently, XRP trades for $2.37.

VeChain Breaks 200-Day EMA: Is an 88% Rally to $0.061 Next?

Albert Brown
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VeChain Breaks 200-Day EMA: Is an 88% Rally to $0.061 Next?

VET price reclaims $0.030 and signals a potential breakout rally to the $0.060 level. Derivatives data shows a bullish bias, with a 5.75% rise in open interest.

As top coins rally, boosting the total crypto market capitalization to $3.44 trillion, VeChain records a massive surge of 8.58%, surpassing the 200-day EMA. With this bullish comeback, VeChain hints at a potential inverted head-and-shoulders pattern, targeting a surge above $0.060.

VeChain Price Analysis

On the daily chart, VeChain’s price action showcases a bullish inverted head-and-shoulders pattern, with the neckline near $0.0327. This key resistance level coincides with the 23.60% Fibonacci level.

VET Price Chart
VET Price Chart

VeChain forms its third consecutive bullish candle following the 200-day EMA breakout. Currently, the VET token trades at $0.030, reclaiming this psychological level.

As the uptrend gains momentum, the daily RSI line bounces off the halfway mark and surpasses the 14-day SMA.

With the RSI line pointing higher, the distance from the overbought zone indicates significant room for growth in VeChain. Additionally, the 200-day EMA breakout increases the likelihood of an uptrend in the 50- and 100-day EMA lines, potentially leading to a positive crossover.

According to Fibonacci levels, a potential pattern breakout will likely surpass the 61.80% Fibonacci level at $0.055. This estimate is derived by adding the pattern’s depth to the breakout point, suggesting an 88% rally to $0.061.

On the flip side, if the altcoin fails to break above the 23.60% Fibonacci level, a potential retest of the 50-day EMA at $0.027 could occur.

VET Derivatives Supports Bullish Bias

Amid the sudden surge in bullish pressure, the VeChain derivatives market witnesses a significant boost. Open interest has surged by 5.75%, reaching $86.47 million. Notably, the funding rate remains steady at around 0.010%, signaling consistent bullish intent.

VET Derivatives
VET Derivatives

Surprisingly, the recent price surge has increased optimism among Binance traders betting on VeChain. According to CoinGlass data, 64% of Binance accounts trading VET-USDT perpetual contracts are bullish on the altcoin.

Coinglass
Coinglass

This reflects a long-to-short ratio of 1.82 based on the accounts. With this overall bullish bias, a potential leverage-driven rally for VeChain is possible.

However, traders should remain cautious, as 35% of short positions could command greater capital, which might undermine the long bias.

Ethereum Builds Rounding Bottom, Targets 50% Breakout Rally to $4,000

Albert Brown
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Ethereum Builds Rounding Bottom, Targets 50% Breakout Rally to $4,000

Ethereum holds above $2,400 with a potential breakout at $2,700, aiming for a 50% rally toward the $4,000 mark. 

As Bitcoin rises 1% to record a new all-time high, Ethereum outperforms with a 3% surge and is currently trading at $2,632. The leading altcoin is forming a rounding bottom pattern, hinting at a potential breakout and a 50% rally ahead.

Ethereum Price Analysis

On the daily chart, Ethereum has maintained a sideways trend between $2,400 and $2,700 over the past week. However, the short-term consolidation remains above the 200-day EMA at $2,443, indicating underlying strength.

Ethereum price chart
Ethereum price chart

In the broader picture, Ethereum appears to be completing a rounding bottom pattern, with the neckline aligned with the 50% Fibonacci retracement level near $2,700. A breakout above this neckline could trigger a 50% rally.

This potential rally is calculated by adding the depth of the pattern to the breakout point. Based on Fibonacci analysis, the upside target aligns with the 100% Fibonacci level near $4,000.

Supporting this bullish scenario, the RSI has spiked into the overbought zone, reflecting growing bullish momentum. Additionally, the 50- and 100-day EMAs are approaching a bullish crossover, reinforcing the upward outlook.

On the downside, a breakdown below the 200-day EMA would invalidate the bullish setup and could push Ethereum down to the 50-day EMA near $2,154.

Rising Optimism Boosts Ethereum Derivatives

As Ethereum approaches a potential breakout, the derivatives market reflects rising bullish sentiment. Open interest has surged nearly 20%, reaching $32.44 billion, indicating growing trader participation.

Ethereum Derivatives
Ethereum Derivatives

This bullish sentiment is further confirmed by a positive funding rate of 0.0041% and $32 million in short liquidations over the past 12 hours, compared to just $10 million in long liquidations. According to CoinGlass data, this reflects a bullish narrative that could fuel a leverage-driven rally.

Analyst Targets $3,000 With Bullish Pattern Breakout

Crypto analyst Ali Martinez shares an optimistic post on the Ethereum price rally, targeting a potential surge towards $3,000. The analyst highlights a breakout of an inverted head-and-shoulders pattern in the hourly time frame. 

Martinez expects a move above the 1.78 Fibonacci level, with the $3,000 mark as a likely target. However, Ethereum must maintain support above the $2,585 neckline to confirm and sustain this bullish breakout.

Dogecoin Bull Pennant Breakout Targets 29% Rally to $0.31: Market Expert

Elendu Benedict
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Dogecoin Bull Pennant Breakout Targets 29% Rally to $0.31: Market Expert

An analytical insight has suggested that Dogecoin would sustain its current upward trajectory, with a rally to a 3-month high as its next near-term target.

The early Thursday commentary comes from Ali Martinez, a prominent market analyst. He highlighted a recent bullish price development on Dogecoin’s lower timeframe chart, which targets higher prices.

The market insight follows Dogecoin’s renewed bullishness. For context, Bitcoin’s recent northward drive to unprecedented prices has spilled over to the meme coin, which is up 4.75% and 41% in the past week and month, respectively.

Furthermore, renewed whale traction and growing network activity have also contributed to Dogecoin’s upward momentum. A recent report from The Crypto Basic highlighted these statistics, which have escalated the bullish expectations for the largest meme coin by market cap.

DOGE Eyes a 3-Month Price High

Martinez identified a positive price action on the DOGE/USDT 1H chart today. He shared that the token appears to be breaking free from a major hurdle, releasing the momentum for a bullish continuation.

An accompanying chart highlights Dogecoin’s trend above a bullish pennant, within which the token has made lower highs and lower lows. The structure’s formation dates back to May 11, when DOGE rallied to $0.26, with several attempts to break out proving futile.

Dogecoin’s Breakout/Ali Martinez

Meanwhile, the meme coin broke from the bullish pennant with its push past $0.23 and has extended its trend above the pattern’s upper boundary to trade at $0.24 at the time of writing.

With the breakout, Martinez predicts a rally to the 1.414 Fibonacci extension at $0.31. Notably, the surge culminates in a 29% uptick from the current market price and a surge to a price mark last seen in early February.

Nonetheless, Martinez had earlier identified the area between $0.25 and $0.26 as significant resistance that Dogecoin needs to overcome. The analysis emphasized that DOGE must break the supply zone for a sustained uptrend to higher prices.

Analysis Confirms Dogecoin’s Bullishness

Meanwhile, in a parallel tweet, market watcher Chad confirmed the predominant bullishness in Dogecoin’s chart. He insisted that the meme coin does not in any way look bearish, citing its price action on the weekly timeframe.

The accompanying chart shows Dogecoin’s higher high and higher low formation, with its April low of $0.13 marking the end of its price correction. From here, Chad predicts that DOGE would see higher prices, with the next stop at the 0.618 Fibonacci level at $0.26.

Dogecoin Analysis/Chad

Furthermore, the token will rally 72% from the current price to $0.41 at the 0.786 Fibonacci level before ultimately reaching $0.74, an impressive 207% upsurge.

Meanwhile, prominent market watchers expect DOGE to reach new all-time highs this cycle. Trader Tardigarde recently identified a recurring pattern on the asset’s 6-month chart that could push prices to $6.

Expert Predicts Timeline for Ethereum to Reach $10,000

Mark Brennan
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Expert Predicts Timeline for Ethereum to Reach $10,000

Altcoin Daily has projected the timeline for Ethereum to reach $10,000, citing a second Fed rate cut and easing tariff tensions.

Ethereum (ETH) experienced notable price swings over the past week, marked by sharp dips and quick recoveries. On May 19, ETH briefly dropped to around $2,370 before rebounding strongly.

From May 20, the asset gained upward momentum, eventually closing in on $2,630, its highest point during the period. Despite this volatility, multiple market analysts continue to project a substantial long-term price increase for Ethereum.

Fed Policy and Trade Developments to Influence ETH

Amid this price condition, Altcoin Daily, a digital asset news and opinion platform, recently outlined macroeconomic factors they say could drive Ethereum’s price higher in late Q4 2025.

The group pointed to a potential second interest rate cut by the U.S. Federal Reserve and easing tariff tensions between the U.S. and China. They argued that these developments could boost Ethereum to reach $10,000 in Q4.

Notably, when the Federal Reserve lowers interest rates, borrowing becomes less expensive. This often prompts investors to move capital from low-yield, safer assets into higher-risk investments, including cryptocurrencies like Ethereum

This process can increase liquidity and stimulate demand, particularly among institutional investors and retail participants. Though the January FOMC meeting leaned hawkish, the broader crypto market remained stable at the time, suggesting resilience among risk assets.

Meanwhile, U.S. President Donald Trump has reinstated tariff policies aimed at encouraging domestic consumption. While trade-related equities are directly impacted by these policies, Ethereum often responds to broader risk sentiment. 

Recent developments show the U.S. and China have reached a partial trade truce, although tariffs on Chinese goods remain elevated at 30%. In previous instances, Ethereum has tended to participate in broader market upswings during such “risk-on” climates.

Echoes of Ethereum to $10,000

Interestingly, the $10,000 price target is echoed by several other analysts. In March, market analyst CryptoPatel noted that Ethereum’s previous rallies followed Bitcoin halving events in 2016 and 2020, with post-halving price increases of 228x and 27x, respectively.

Ethereum is currently down 57% from its all-time high, a pattern observed in earlier cycles. Based on this trend, CryptoPatel anticipates Ethereum could reach between $7,000 and $10,000 by late Q4 2025.

He referenced Fibonacci extensions and long-term trend alignments in his analysis. According to his model, the current market movement mirrors the 546-day accumulation phase that occurred after previous halvings. If this pattern holds, a significant price breakout could begin as early as Q3 2025.

Elsewhere, The Crypto Monk, a widely followed figure, also views this price level as a realistic target if current conditions persist. He pointed to Ethereum’s recent traction as a signal that the asset may be entering a new, more active phase in its market cycle.

100% of Bitcoin Holders in Profit as Saylor Declares: ‘No One Ever Lost Money Buying BTC’

Albert Brown
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100% of Bitcoin Holders in Profit as Saylor Declares: ‘No One Ever Lost Money Buying BTC’

Strategy executive chairman Michael Saylor said long-term Bitcoin holders haven’t lost money, as BTC hits a new all-time high.

Bitcoin surged past $111,800 on Thursday, marking a new record as Treasury yields rose following a weak 20-year U.S. bond auction. The price of the leading digital asset rebounded sharply from a brief dip to $106,000 earlier in the week.

It reclaimed its previous peak of $109,200 on Wednesday before setting a new record near $112,000. The broader market responded positively, with crypto sentiment buoyed by the strong price action.

No One Lost Money Buying Bitcoin

This price action notably prompted commentary from Michael Saylor, chairman of Strategy (formerly MicroStrategy). In an X post, he reiterated the view that “no one has ever lost money buying Bitcoin.” 

This sentiment was echoed by popular crypto influencer Altcoin Daily, which noted that, in Bitcoin’s 16-year history, 100% of holders are currently in profit.

All Bitcoin Wallets in Profit

Indeed, on-chain data from IntoTheBlock confirmed that the entire tracked Bitcoin supply is currently held at a profit. Specifically, the “In The Money” wallets, those holding BTC purchased below the current market price, now account for 100% of all holdings, totaling 19.89 million BTC. The value of these profitable holdings is estimated at approximately $2.21 trillion.

Bitcoin Global In/Out of the Money
Bitcoin Global In/Out of the Money

At the same time, no wallets are classified as “Out Of The Money,” meaning there are currently zero tracked BTC holdings at a loss. This reflects that Bitcoin’s market price now exceeds all historical purchase prices among wallets included in the dataset. 

However, it’s important to note that this data reflects only unrealized gains and does not account for any realized losses from those who sold at a dip.

Short Liquidations Intensify

Meanwhile, activity in Bitcoin’s derivatives markets has intensified alongside the price rally. Trading volume rose by over 84%, reaching $221 billion, while open interest climbed 17%, signaling a surge in leveraged positions.

Funding rates remain positive across major exchanges, indicating that long traders are paying to maintain positions, an indicator of sustained bullish sentiment.

Bitcoin Derivative Data
Bitcoin Derivative Data

Meanwhile, short sellers have faced steep losses. More than $173 million in shorts were liquidated over the past 24 hours, while only $51.61 million in long positions were liquidated.

Options volume also grew significantly, rising 85% as traders positioned for continued volatility or hedged existing bets.

Key Resistance Levels and Market Indicators

As Bitcoin hovered near $112,000, analysts are assessing the next potential resistance. Joe DiPasquale, CEO of BitBull Capital, pointed to $120,000 as the next major technical target. He noted that this level aligns with longer-term Fibonacci extensions, offering a benchmark for continued upward momentum.

Furthermore, DiPasquale emphasized that ETF inflows and funding rate trends remain key indicators in gauging the sustainability of the rally.

According to his outlook, continued strength in these metrics and favorable macroeconomic conditions could support a move toward $120,000 within weeks. He added that price action at these levels is expected to remain volatile, especially as resistance levels break and more capital re-enters the market.

Meanwhile, other veteral analysts like Peter Brandt belive Bitcoin could head go $150K in the next three months.

Expert Reveals How ‘Complete Victory’ in Ripple Case Could Unlock Next Phase of Financial Infrastructure

Lele Jima
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Expert Reveals How ‘Complete Victory’ in Ripple Case Could Unlock Next Phase of Financial Infrastructure

Prominent crypto researcher SMQKE suggests that the conclusion of the Ripple lawsuit could unlock the next phase of financial infrastructure. 

SMQKE made the assertion based on a legal report titled ‘SHAQ, RIPPLE, AND THE FUTURE OF CRYPTO REGULATION.’ Famous American lawyer James C. Spindler published this report for William & Mary Law School. 

A New Blueprint for Financial Institutions 

Referencing the report, SMQKE suggested that a complete victory for Ripple in the lawsuit would effectively provide a blueprint for financial institutions, including banks and asset managers, to migrate core financial infrastructures onto blockchain rails. 

The researcher noted that Judge Analisa Torres held that a part of Ripple’s XRP sales, particularly its programmatic sales and other distributions, did not violate securities laws. However, legal experts suggested that Ripple’s initial distribution of XRP reflects the sale of a component of future corporate value. 

Notably, SMQKE stated that a conclusive ruling favoring Ripple would validate the assertions of these legal scholars, essentially providing a blueprint for financial institutions. The commentator speculated that this blueprint would allow companies to raise funds and move money without subjecting themselves to regulatory hassles. 

Rebuilding the Financial System 

In addition, SMQKE indicated that a favorable ruling validating Ripple’s sales as a component of future corporate value would showcase ways to rebuild the global financial system from the back end. 

This is crucial, especially as financial activities like custody, settlement, trades, and payments increasingly migrate to the blockchain. 

With a judicially approved template, market participants can tokenize shares instantly, while payment networks can connect with blockchain wallets without stress. The commentator indicated that banks and custody providers could also automate their operations using smart contracts. 

Further, SMQKE emphasized that Ripple’s victory in the SEC case will not only support the company’s ambition but also serve as a green light for the entire financial industry. Therefore, financial institutions can follow Ripple’s court-approved playbook to launch tokenized offerings, manage capital, build custody solutions, and facilitate payments. 

Current Status of Ripple Lawsuit 

Although Ripple and the SEC have agreed to settle the multi-year legal tussle, Judge Analisa Torres denied their joint motion for an indicative ruling on the agreement. 

The agreement centers around Ripple paying $50 million as a fine for violating the law through its institutional sales of XRP instead of the court’s $125 million order.

Additionally, the parties agreed to dismiss the permanent injunction imposed on Ripple’s future institutional sales. However, Judge Torres denied the motion for an indicative ruling, noting that the request had a procedural flaw. 

The parties will make another attempt to convince the judge to approve their settlement agreement. However, it remains unclear when this will happen. 

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