YEREVAN (CoinChapter.com) – The cryptocurrency market does not stand still. Thus, keeping up with the latest news could prove instrumental in making the right bet. Here are several leading digital assets and the latest scoops about each of them: XRP, Shiba Inu (SHIB), Dogecoin (DOGE), and Terra Classic (LUNC).
#1 XRP Ripple and SEC – what’s new?
XRP is the 6th largest crypto by market cap and has managed a near 50% uptrend since early September amid the ubiquitous drawdown on the market. As CoinChapter mentioned in the previous XRP review, the token formed a bullish setup that could take the XRP price into a 200% rally in 2023.
However, XRP bears could have a short-term celebration, as the token is likely to drop another 50% within the same setup in Q4 before the bottom is in. Moreover, the outcome of the SEC vs Ripple case could play a key role in setting a target XRP price.
According to Ripple’s General Counsel Stuart Alderoty, over a dozen companies and developers filed for permission to turn in Amicus Briefs in Ripple’s support. In detail, an Amicus Brief is a legal document containing advice or information relating to a case from a person or organization that is not directly involved in the case.
Cryptillian Payment Systems, an online digital wallet service that uses XRP for transactions, was one of the mentioned companies. Cryptillian appealed to Judge Torres, noting the adverse consequences for their company should SEC win the summary judgment motion.
#2 Shiba Inu coin (SHIB) can be proud of its BONE token
Shiba Inu token SHIB jumped 15% in the previous two days and reached $0.00001290 on Nov 5. Notably, the SHIB token broke out of the ‘descending channel’ formation it traded in for the previous year. In detail, the channel featured two dropping parallel trendlines that took the SHIB price incrementally lower through consecutive support and resistance retests.
Moreover, the Shiba Inu ecosystem’s governance token BONE made headlines as it scored a listing on StealthEX. The latter is a custody-free crytpo exchange, which could expand the BONE token’s trading possibilities.
The exchange announced the news on Nov 3.
#3 Dogecoin (DOGE) mooches off Elon Musk and Twitter wallet
Dogecoin, as the favorite token of the eccentric multi-billionaire entrepreneur Elon Musk, got a lot of attention in the previous two weeks. As a result, the DOGE/USD exchange rate peaked at $0.158 on Nov 1. However, the rally subsided in the following days, and the DOGE price stood at $0.13 on Nov 5.
The meme coins SHIB and DOGE traded in a near-identical pattern, both breaking out of the descending channel. Meanwhile, as Dogecoin pumped on the news of Twitter initiating its own wallet, the recent decline could come on the back of Twitter halting the wallet development.
In detail, sources report that the new Twitter chief Elon Musk has temporarily paused the wallet development. However, the reasons for the decision are not public knowledge. Musk himself has not made such an announcement. But he did announce the reason for layoffs, which met backlash on Twitter.
#4 Terra Classic (LUNC): what’s in store for the LUNC coin?
Terra Classic LUNC token traded at $0.00025 on Nov 5, after retesting a crucial support line as resistance for the second time since Oct 30. Considering the declining trading volumes, it is unlikely that LUNC bulls could put in enough buying pressure to pump the token.
Meanwhile, LUNC price prediction also depends on the infamous Terra chief Do Kwon. While Kwon’s whereabouts are unknown, according to the latest developments, he is said to be in Europe. The fugitive with an ‘Interpol target’ on his back vowed to organize a meeting with European authorities. He allegedly invited law enforcement agents to participate in the event as well.
