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The past couple of days were action-packed, with the cryptocurrency market experiencing considerable volatility. Fortunately, this time, it was leaning toward the upside as most of the coins attempted to recover from the declines suffered at the beginning of the week.
In this recap, we will examine what happened with Ripple, Shiba Inu, and more.
Ripple (XRP) Price Speculations
As CryptoPotato reported earlier, XRP saw a tremendous increase in its trading volume earlier in the week as the market was going through considerable turbulence.
At the time of this writing, the cryptocurrency is trading at a 5.7% loss for the week at around $0.47.
Now, as most of you may know, Ripple Labs is involved in a massive case against the United States Securities and Exchange Commission. The regulator is seeking a fine upwards of $100 million for the company’s alleged failure to register its sales of XRP as securities. Ripple, on the other hand, argues that XRP doesn’t meet the criteria of being a security.
We decided to poke ChatGPT, asking what the price of XRP would be if it weren’t for that lawsuit.
The AI-powered language model outlined that multiple factors are to be considered, such as market sentiment, adoption and use cases, and more. Ultimately, though, it concluded that the price would likely have been higher.
It’s also worth noting that amid this ongoing uncertainty, XRP’s market depth remained steady.
Shiba Inu (SHIB) Developments
Elsewhere, Shiba Inu was also impacted by the market turbulence. Unlike XRP, it charted a more considerable decline, trading at an 8.5% loss for the past seven days.
A few days ago, SHIB’s trading volume also spiraled and soared by more than 100%.
Data from Shibburn reveals that the cryptocurrency’s burn rate has actually declined by more than 53% over the past 24 hours, leading to around 9 million SHIB tokens being destroyed.
Other Important Headlines
In what seems to be one of the most important news of the week, WikiLeaks’ co-founder Julian Assange is finally back in Australia a free man.
Interestingly enough, he needed $500,000 to cover his jet fare. His wife turned to the online community for help, and a mystery donor sent exactly $500K in BTC to his address.
Speculations are that it was Jack Dorsey – Twitter’s co-founder, who tweeted “Safe passage through” at the exact same time the donation was made.
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