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Cryptocurrency News Articles
Elon Musk Discusses XRP and Cryptocurrency as JetBolt (JBOLT) Captures Attention of Crypto Whales
Oct 24, 2024 at 09:00 pm
At a recent town hall meeting in Pittsburgh, Elon Musk once again reiterated his belief in the potential of cryptocurrencies as a suitable means
Elon Musk, the CEO of SpaceX and Tesla, has once again voiced his support for cryptocurrencies in a recent town hall meeting held in Pittsburgh. Musk highlighted the role of digital currencies in countering centralized control, a statement that strongly resonates with XRP and its community of supporters.
Musk emphasized the importance of digital currencies in safeguarding individual freedoms, particularly in resisting centralized authorities. “I do think that cryptocurrency is an interesting and probably valuable bulwark against centralized control,” stated Musk. This statement aligns with the core philosophy of cryptocurrencies like Bitcoin, Ethereum, and XRP, which aim to decentralize control and empower users through blockchain technology.
For XRP supporters, Musk’s words came at a pivotal moment, as Ripple continues to navigate a legal dispute with the U.S. Securities and Exchange Commission (SEC). The SEC has accused Ripple of selling XRP as an unregistered security, a claim Ripple strongly disputes. Despite this, Musk’s focus on crypto’s role in promoting freedom and decentralization aligns with Ripple’s broader argument that XRP is a legitimate cryptocurrency and not a security.
'Cryptocurrency Is No Longer Niche': Ripple CEO on Musk's Remarks, XRP Price
Echoing Musk's sentiments and extending them further, Ripple CEO Brad Garlinghouse asserted that cryptocurrency is no longer a niche topic. According to Garlinghouse, the conversations around digital currencies, including XRP, have evolved into significant issues that can sway voters and shape policies in the near future.
"Elon (Musk) is right. Cryptocurrency is no longer niche," stated Garlinghouse. “The conversations around XRP and digital currencies are now the table stakes issues that will decide voter turnout and policy in the next election.”
Garlinghouse has been vocal in criticizing the current regulatory environment in the U.S., arguing that it has stifled innovation in the crypto space. He believes that, unlike countries such as the UK, Japan, and Singapore, where clear regulatory frameworks have been established, the U.S. is falling behind. Ripple’s ongoing legal battle with the SEC is a case in point. The case centers on whether XRP should be classified as a security or a cryptocurrency, with Ripple maintaining that XRP is a digital currency similar to Bitcoin and Ethereum.
XRP Price Analysis: Struggling Amid Legal Challenges
As of late October 2024, XRP is priced at around $0.52, having bounced between $0.49 and $0.60 throughout the month. The token's price volatility is largely due to the uncertainty surrounding Ripple’s legal battle with the SEC. Although there have been occasional rebounds, XRP remains stuck below key resistance levels, with a continuous price drop of 3.9% over the past week.
Technical indicators suggest a bearish trend in the short term, with XRP’s Relative Strength Index (RSI) sitting at 46. This neutral territory implies that while the token is not currently oversold, it lacks strong upward momentum. Recent data shows that XRP is fighting to hold above $0.57, with its 100-day moving average teetering on a crucial point. If sellers continue to apply pressure and XRP fails to close above this level, it could lead to further declines, potentially pushing the token toward $0.50 or even $0.46—a critical support zone identified by analysts. Technical indicators also highlight a bearish outlook, as the RSI has dipped below 50, signaling rising selling momentum.
Market analysts predict that XRP could see small gains if favorable legal developments occur, but for now, the regulatory cloud hanging over Ripple remains a major barrier to significant growth.
JetBolt (JBOLT) Captures Attention as Crypto Whales Take Notice
While XRP continues to face legal headwinds, the spotlight is beginning to shift toward new altcoins with the potential to shake up the market. One of these is JetBolt (JBOLT), an innovative next-generation cryptocurrency that is quickly gaining traction among crypto whales and early investors.
JetBolt's Zero-Gas technology sets it apart from many of its competitors, as it eliminates the high gas fees that have long been a pain point for users on other networks. By leveraging the Skale Network, JetBolt ensures that transactions remain seamless, even during periods of heavy network congestion. This feature has made JetBolt particularly attractive to developers, blockchain gamers, and SocialFi users looking for scalable, efficient solutions.
"JetBolt is quickly becoming a favorite among crypto whales, and for good reason," stated a crypto whale who recently acquired a large stash of JBOLT tokens. “Its Zero-Gas technology and AI-powered market tool are game-changers in the crypto world.”
Beyond its Zero-Gas technology, JetBolt also offers an AI-powered crypto market tool that curates daily updates, allowing users to stay ahead of market trends and news. This tool simplifies the process of navigating the often overwhelming world of cryptocurrency, offering users actionable insights rather than a flood of irrelevant information.
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- Oct 25, 2024 at 12:25 am
- No matter who wins the upcoming election, the overall outlook for the crypto market remains optimistic. However, the direction for Bitcoin and altcoins could vary depending on the leadership.
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- Dogen Presale Breaks Records, Eyeing Solana and Dogecoin Traders — Could This Be the Next 5000% Gainer?
- Oct 25, 2024 at 12:25 am
- A new cryptocurrency called Dogen is breaking presale records and catching the eye of Solana and Dogecoin traders. Its rapid success is stirring excitement about its potential for huge returns. Could Dogen be the next coin to soar by 5000%? Find out which digital currencies are showing signs of significant growth in the current market.
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- IntelMarkets (INTL): Securing the Future of Crypto With AI
- Oct 25, 2024 at 12:25 am
- IntelMarkets (INTL) is not some typical altcoin launched to benefit from the speculative bubble of the market. Claiming to protect the future of blockchain from emerging quantum attacks through its Route X21 protocol, IntelMarkets is set to be the future protection for blockchain as quantum computing continues to evolve.
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- Avalanche (AVAX), Ripple (XRP), and BlockDAG (BDAG) Are Gaining Momentum, Offering Promising Opportunities Amid Market Shifts
- Oct 25, 2024 at 12:25 am
- Avalanche, trading at $28.80, could reach $100 by 2024, supported by its $11 billion market cap. Ripple's legal dispute with the SEC, likely extending to
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- DTX Exchange’s presale tops $5M, aiming for a $0.20 listing post-launch on CoinMarketCap, as confidence wanes in ADA and DOGE
- Oct 25, 2024 at 12:25 am
- DTX Exchange's presale performance has changed the game for crypto lovers. Its presale collection has crossed the $5 million barrier and is now eyeing