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XRP price almost doubled after Ripple's legal win against the U.S. SEC. But can its rally continue after nearly reaching $1? The price of XRP (XRP) has skyrocketed in the aftermath of a federal court ruling saying that its sales on crypto exchanges complied with U.S. securities laws. On July 14, XRP price retreated by about 10% to $0.76, but compared to its lowest price the previous day, it was still up around 65%. Related: Why is XRP price up today? At its highest in the last 24 hours, the XRP/USD pairreached $0.93, its best level since December 2021, just shy of hitting the $1 mark. XRP/USD daily price chart. Source: TradingView A whale-backed XRP rally Certain indicators show that XRP's ongoing price pump may not be just a short-term reaction to the positive news for Ripple. For instance, the duration of XRP's massive pump coincides with its trading volumes reaching a 10-month high. Meanwhile, the number of XRP whale transactions — or wallets holding more than $100,0...

Persistent inflation and a strong labor market create conditions for more Fed rate hikes in 2023, which may push down Bitcoin against the U.S. dollar. Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering U.S. dollar. US dollar strength reemerges Notably, the U.S. dollar index (DXY), which tracks the greenback's performance against a basket of top foreign currencies, has risen 4% from its Feb. 3 low of 100.82, amid anticipations that the Federal Reserve will continue raising benchmark rates to cool inflation. Inflation ersists An air of caution remains as fresh U.S. data shows a recession is not yet imminent. That includes the latest jobless claims, which fell 2,000 to a seasonally adjusted 190,000 in the week ending Feb. 25, and stronger consumer spending in January.  Meanwhile, 90% of the U.S. manufacturers surveyed by Bloomberg complained about rising input prices despite the ...

Zero-knowledge virtual machines have the potential to revolutionize the portability of smart contracts, removing crypto’s last barrier to mass adoption. Very few projects have come close to matching the security and decentralization of the Ethereum network. However, the inherent overhead of maintaining these two critical features has left Ethereum burdened by low throughput and prohibitively high costs. As a result, alternative layer-1 blockchains (L1s) — which normally sacrifice security and decentralization to provide scale — have emerged to nip away at Ethereum’s market share. However, with Ethereum Virtual Machine (EVM)-equivalent scaling solutions bringing high throughput and low transaction fees to Ethereum itself, the question is: Do we really need these alternative L1 networks? Despite a rocky year for the industry, Ethereum is still as strong as ever The risks of sacrificing security and decentralization have been largely materialized with alternative L1s this year. These blo...