Cryptocurrency Price Forecast: Ripple, Bitcoin, and Ethereum Classic Analysis on July 26
A recent update on the Ripple lawsuit reveals that the Securities & Exchange Commission (SEC) is not seeking a $102.6 million fine, but rather engaging in arguments as part of the legal dispute. According to a pro-crypto attorney, there is a possibility of a settlement between the SEC and Ripple, emphasizing a potential compromise over a clear victory for either party. Legal experts Bill Morgan, Fred Rispoli, and Jeremy Hogan have shared insights on the ongoing developments in the SEC vs. Ripple case, including discussions from a closed-doors meeting and the prospects of reaching a settlement.
In the world of cryptocurrencies, Bitcoin and Ethereum have maintained stable prices, with Bitcoin hovering around $67,000 despite the expiration of $4.3 billion in Bitcoin options. Data from Deribit indicates that there are twice as many expiring long contracts as shorts, with a put/call ratio of 0.61. Meanwhile, Ethereum Classic (ETC) has seen a 2.3% increase, trading at approximately $22.60 after testing a crucial support level. On-chain data reflecting a rise in account growth suggests a bullish trend ahead for Ethereum Classic.
In a separate development, Ethereum Classic price movements hint at a potential rally following a retest of a significant support level. The cryptocurrency has shown resilience, edging higher by 2.3% and maintaining a trading price around $22.60. Analysis of on-chain data points to an optimistic outlook, indicating a possible bullish surge in the near future. Ethereum Classic faced resistance at the daily level of $25.13 earlier in the week, underscoring the importance of key price levels in its trajectory.
It is essential to note that the information provided in this article contains forward-looking statements that carry inherent risks and uncertainties. The content serves for informational purposes only and should not be construed as financial advice. Readers are encouraged to conduct thorough research before making any investment decisions in the cryptocurrency market. The views expressed in this article are those of the authors and do not necessarily represent the official stance of any entity mentioned.
