Bitcoin Strengthens Above $68K; Meme Coins Steal the Show Amidst Ripple Lawsuit Updates
The cryptocurrency market has witnessed remarkable developments this week, with Bitcoin (BTC) closing the week at the $68K level and meme coins sector grabbing attention. Simultaneously, new updates in the XRP lawsuit sparked investor speculations over Ripple’s native token’s price. Here are some of the top headlines from CoinGape Media:
1. Bitcoin Holds $68K Sparking Optimism: BTC price remained above $68K due to bullish market dynamics, including spot Bitcoin ETFs recording $2.13 billion in inflows over seven days. Additionally, Robinhood announced plans for Bitcoin and Ethereum futures trading, further fueling optimism surrounding these assets. Japan’s massive stimulus package announcement also added to market sentiment for BTC price movements.
2. XRP Lawsuit Sees New Developments: The U.S SEC filed Form C as part of its appeals against Ripple recently, but did not appeal the XRP status as a non-security, which reinvigorated the XRP community. Furthermore, attorney Fred Rispoli criticized Ripple executives for questioning some SEC charges instead of pursuing a full trial defense. Meanwhile, Ripple partnered with Uphold and Bitstamp for RLUSD stablecoin launch and experienced continued whale dumping on exchanges – raising market speculations about XRP prices closing at $0.54 level this week.
3. Meme-themed Crypto Echo Frenzy: Dogecoin (DOGE) gained amid Elon Musk’s donation worth $75 million to elect Donald Trump while DOGE whales accumulated heavily, adding to optimism about DOGE price movements closing at $0.14 level this week. Grayscale hinted at a potential listing for DOGE soon. On the other hand, Shiba Inu (SHIB) experienced remarkable ecosystem developments with SHIB burns soaring remarkably over seven days alongside game-changing partnerships revealed by Shytoshi Kusama for SHIB financial layer. Goatseus Maximus (GOAT) also saw significant gains amid a major listing this week. Overall, meme coins have been making waves across the crypto space this week amidst noteworthy developments in the broader market landscape.
