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On June 26, Xi Jinping, General Secretary of the CPC Central Committee and President of China, met with Hun Sen, Chairman of the Cambodian Peoples Party and President of the Senate, at the Great Hall of the People. Xi Jinping emphasized that the current international and regional situation is undergoing complex and profound changes, and China and Cambodia should work together to demonstrate their responsibility amidst change and uphold justice amidst chaos, injecting more stability into regional peace and development. China is willing to establish a security partnership with Cambodia. China highly appreciates Cambodias determination and actions in combating telecommunications and online fraud and is willing to work with Cambodia to continue its efforts to completely eradicate this "cancer" of telecommunications fraud.June 26 - According to information released by Moscow Mayor Sergei Sobyanin via social media on June 26 local time, between 2:24 AM and 7:23 AM that day, Russian air defense systems shot down 47 drones heading towards Moscow. The Russian Ministry of Defense also reported early on the 26th that overnight, Russian air defense forces intercepted and destroyed 660 Ukrainian fixed-wing drones in multiple locations.Asian tech stocks generally fell on Friday after Apple raised prices. Investors are concerned that rising component costs will dampen demand for end devices and ultimately drag down memory chip prices, which have been supporting the AI investment boom. The market is reassessing whether soaring memory prices, driven by continued strong AI demand, will begin to suppress overall spending by increasing costs for electronics manufacturers and consumers. Apples price increase is one of the clearest signals yet that the industrys pricing power may be at the expense of future demand, prompting the market to reassess the valuation of AI-related semiconductor stocks. "The market is no longer viewing rising memory prices as a necessary positive factor for the entire AI deal," said Charu Chanana, chief investment strategist at Saxo Bank. "While this demonstrates that demand for AI infrastructure remains strong, it also drives up the cost of building and using AI. The risk is that the current strong memory chip cycle may slow down the entire AI deal in the future, and the market has already begun to price this in."Kazakhstans minister said that Kazakhstan has cut gas production at the Karachagank gas field due to a Ukrainian drone attack on Russias Orenburg gas processing plant.According to IFR, a Reuters subsidiary, Zhejiang Laifu Harmonic Drive Co., Ltd. has set its Hong Kong IPO price at the high end of the range, aiming to raise HK$1.1 billion.

XRP Bulls Look for a Path to $0.40 on Pending SEC v Ripple Rulings

Cory Russell

Jan 12, 2023 15:24

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Wednesday saw an increase in XRP of 6.33%. Tuesday saw a rise of 0.46% for XRP, who closed the day at $0.37291. Significantly, XRP extended the winning run to four sessions by finishing the day at $0.37 for the first time since December 15.


XRP saw a negative start to the day, dropping to an early low of $0.34800. The price of XRP increased to a late high of $0.37834, avoiding the First Major Support Level (S1) at $0.3443. The Major Resistance Levels were broken by XRP before a short decline through R3 ($0.3718) to below $0.37. But after a strong session, XRP crossed back above R3 and finished the day at $0.37291.

The SEC v. Ripple Case: Investor Attitude Delivers $0.37

Investors were left to consider the most recent court filings since there were no updates from the ongoing SEC v. Ripple lawsuit to affect them.


The parties submitted their objections to the omnibus motions to seal on Monday. Notably, the Defendants kept concentrating on the records pertaining to the William Hinman speech, putting the possibility of a settlement on the table.


The SEC is steadfast in its effort to keep the substance of the records linked to the William Hinman speech out of the public eye, and these materials remain crucial to the case.


Investors are eagerly awaiting the outcome of the Summary Judgment Reply papers and the document redactions relating to the William Hinman address. There are still two court dates, but the rulings might be made at any moment.


Daubert Motions must be filed by the parties on January 13 and opposition to non-party motions to seal must be filed by both parties and non-parties on January 18, which was the original deadline.


While there will be interest in the files, the decisions on the redactions relating to the Hinman speech and the Summary Judgment Reply brief might be crucial. A settlement can result from a decision that the SEC cannot safeguard the information included in the records relating to the Hinman speech.


Investors should keep an eye on the SEC v. Ripple case developments today, as they might significantly influence the result, even though the overall crypto market will offer direction. However, XRP would be in the hands of the larger crypto market if there were no SEC v. Ripple news.


Initial unemployment claims and the US CPI Report will be of importance later today. A hotter-than-expected CPI Report and a decline in initial applications for unemployment benefits to below 200k would put the buyer's appetite to the test.

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