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On December 19th, Federal Reserve Chairman Williams stated on Friday that certain "technical factors" may have distorted the November Consumer Price Index (CPI) data, causing it to be lower than actual levels. Williams said, "There are some specific real factors related to their inability to collect data in October and the first half of November. Because of this, I think certain categories of data were distorted, which could have pulled the CPI data down by about 0.1 percentage points." Williams also stated that the U.S. economy is currently in "good shape" and hinted that he "will eventually see" interest rates decline. However, he emphasized that he is in no hurry to adjust monetary policy.On December 19th, the State Administration for Market Regulation issued the "Guidelines for Compliance of Pricing Behavior of Urban Water, Electricity, and Gas Supply Utilities," further regulating the pricing behavior of urban public utilities. The pricing behavior of these utilities directly affects the vital interests of the people and the order of fair market competition. Addressing issues that have drawn strong public criticism, such as failure to comply with government-set prices, passing on operating costs, and charging unreasonable fees, the "Guidelines" clarify the purpose, scope of application, and price definitions. It emphasizes that the pricing behavior of water, electricity, and gas supply utilities must comply with laws, regulations, rules, and relevant policies. The guidelines guide water, electricity, and gas supply utilities and their affiliated or entrusted engineering and installation companies to conduct pricing activities in accordance with laws and regulations, protecting the legitimate rights and interests of users and promoting the healthy and sustainable development of the water, electricity, and gas supply industries. This includes clarifying the operating principles of public utilities, strictly implementing price standards, standardizing pricing behavior for self-priced projects, establishing and improving internal systems, and strengthening risk management.On December 19th, Russian President Vladimir Putin stated that "European political elites siding with the Democratic Party" interfered in the 2024 US presidential election. At his annual press conference, Putin explained that direct European interference in the US election was "obvious, conspicuous, and open." He emphasized that the continental European elites support Kamala Harris, therefore the current state of relations between EU officials and US President Trump is "not surprising." Putin denied allegations of Russian interference in the 2016 US election, noting that "all congressional investigations have come to nothing." On the other hand, Europeans supported Harris "quite directly, even brazenly."Federal Reserves Williams: I think interest rates will eventually fall.Federal Reserves Williams: The Feds current asset purchases are not intended to influence long-term interest rates.

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

Cory Russell

Jan 12, 2023 15:28

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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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