This morning, I came across some interesting news about Google’s updated site reputation abuse policies. Apparently, they’ve revised their main guidelines with some fresh updates.
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Bitnomial To Launch First Regulated XRP Futures in the US, Boosting ETF Odds
Bitnomial announced that it will launch an XRP futures contract tomorrow, the first in the US. The announcement comes after the SEC reportedly dropped its landmark lawsuit against Ripple today.
Bitnomial dropped its own suit against the Commission regarding the regulatory status of this offering. An XRP futures contract could help lay the critical groundwork for spot ETF approval.
XRP Futures Contract For US Institutional Traders
Since the SEC dropped its lawsuit against Ripple this morning, the price of XRP has responded very positively. This landmark case carried a lot of implications for the entire crypto industry, and naturally, it’ll have a knock-on effect on other topics.
Case in point, Bitnomial subsequently announced that it will launch an XRP futures contract tomorrow.
“Bitnomial is launching the first-ever CFTC-regulated XRP futures in the US — physically settled for real market impact. Plus, we’ve voluntarily dismissed our case against the SEC as regulatory clarity improves. Current clients have access to XRP futures on March 20, 2025. Prospective clients can onboard with one of our FCM partners,” the firm claimed.
XRP futures are standardized derivative contracts that allow traders to speculate on or hedge against future price movements of the altcoin with physical settlement. They promote market maturity by enhancing liquidity, improving price discovery, and providing a regulated avenue for risk management.
Bitnomial tried to launch an XRP futures contract in 2024, but the SEC blocked the effort. The Commission claimed that these futures contracts would qualify as securities, and Bitnomial sued it to defend its position.
Now, the firm is dropping its suit and will launch these contracts through Botanical, a CFTC-regulated exchange. No SEC involvement is required.
“Crypto derivatives exchange Bitnomial plans to drop its own lawsuit against Wall Street’s top cop after suing the agency in October over its claim that it had jurisdiction over Bitnomial’s planned XRP futures contract,” wrote Eleanor Terrett.
In other words, this looks like a huge win for the XRP community. The SEC has recently signaled that it might allow the CFTC to regulate more crypto products, and it seems like this is starting.
If the SEC continues passing crypto-related financial products to its sister Commission, it could be a very bullish trend.
Notably, the futures contract might also help XRP ETF approval odds. Recently, the SEC delayed several applications to create one, and its status is in limbo.
However, this would be the first XRP futures contract in the US after months of delays. Solana fans are hoping that its own futures contract will improve ETF chances, as it did with BTC and ETH.
Brad Garlinghouse, CEO of Ripple, recently spoke in an interview about the SEC case and a few other topics. He explicitly confirmed that Ripple could not overturn a previous ruling against the firm, as it tried to do. He said that Ripple may continue fighting for the right to sell XRP to institutional investors, but he isn’t certain.
Garlinghouse is certain, however, that an XRP ETF will happen soon. He didn’t comment on Bitnomial’s XRP futures contract, but he cited other factors.
“I have immense confidence on the ETF. I think there’s 11 different filings pending with the SEC to launch ETFs. I think those will be live in the second half of this year,” Garlinghouse claimed.
In other words, things are looking good for Ripple supporters overall. The SEC lawsuit is over, and Bitnomial’s new XRP futures contract might help lay the groundwork for an ETF.
The post Bitnomial To Launch First Regulated XRP Futures in the US, Boosting ETF Odds appeared first on BeInCrypto.
Traditional Finance Embraces Blockchain
In a significant move that could reshape the intersection of traditional finance and cryptocurrency, the Union Bank of Switzerland (UBS)…
Dogecoin at Risk of $200 Million Liquidation, But These Holders May Prevent the Drop
Dogecoin (DOGE) price has recently struggled with momentum, failing to break key resistance levels. As of press time, DOGE is holding at $0.169, just above the crucial support of $0.164.
This stagnation hints at the potential for further declines, but key investors are still holding strong.
Dogecoin Is Facing Challenges
The liquidation map reveals that approximately $216 million worth of long positions could face liquidation if Dogecoin’s price declines to $0.150. This price is not far from its current critical support of $0.164.
If DOGE drops below this level, the liquidation of long contracts could fuel a further sell-off, pushing the price lower. This would likely prompt more bearish sentiment among traders, discouraging new investments in the meme coin.
Moreover, the threat of liquidation looms large as the price hovers near critical support levels. If DOGE continues to weaken, traders may be more inclined to exit positions, exacerbating the downtrend.
On the other hand, Dogecoin’s long-term holders (LTHs) seem to be focused on accumulating the asset at its current low price.
The HODLer net position change shows an increasing number of LTHs who are confident in eventual price recovery. As DOGE remains relatively inexpensive, these investors view the current conditions as a potential opportunity for future gains.
This accumulation by LTHs could serve as a buffer against further price declines. Their confidence in Dogecoin’s recovery and long-term potential is helping to sustain the current price levels. If these holders continue to accumulate, it could prevent a drastic drop and even pave the way for a future price rebound.
DOGE Price Correction Unlikely
At the time of writing, Dogecoin is trading at $0.169, just above the critical support of $0.164. The altcoin has been unable to break the $0.176 resistance for several days, showing signs of stagnation.
The likely outcome is continued consolidation above $0.164 as investors await a potential catalyst for upward movement.
If Dogecoin manages to breach the $0.176 resistance, it could quickly rise to $0.198, marking a positive shift in sentiment. This would likely encourage more buying activity and help push the price higher.
However, without sufficient momentum, DOGE will remain trapped within its current range, potentially facing further consolidation.
If the price falls below $0.164, it could slip to $0.147 in the coming days, triggering more than $216 million in long liquidations. This scenario would signal a shift toward bearish momentum, invalidating Dogecoin’s bullish outlook.
The coming days will be crucial in determining whether DOGE can recover or continue its decline.
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