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Market news: Tesla (TSLA.O) reached a settlement in the 2019 California crash lawsuit before the jury trial.On September 17, local time on the 16th, it was learned that Ukrainian President Zelensky said he was willing to meet with US President Trump and Russian President Putin without preconditions, but he would not go to Moscow, the capital of the country that is attacking Ukraine. Zelensky also said that Russia is preparing two autumn offensives.On September 17, US President Trump said he spoke with Indian Prime Minister Narendra Modi, a move aimed at easing tensions between the two economies amid friction over tariffs and New Delhis purchase of Russian oil. Trump posted on social media that he had a "very good" call with Modi and extended birthday wishes. He added, "Hes doing a great job. Thank you for supporting the efforts to end the conflict between Russia and Ukraine!" The call came as the two countries resumed trade negotiations this week, with both sides describing the talks as positive and aimed at resetting bilateral relations after Trump imposed 50% tariffs on Indian goods last month. Earlier that day, Modi tweeted that India supports Trumps "initiative for a peaceful resolution of the conflict in Ukraine."On September 17, Scott Rubner, head of equity and equity derivatives strategy at Citadel Securities, said that the current rally that has pushed U.S. stocks to new highs may experience some volatility in the coming weeks, but is expected to end strongly before the end of the year. Rubner wrote that the S&P 500 has risen 17% from its low for the year, and short-term risks include overvaluation, seasonal fluctuations common in September and October, and possible selling by trend-following funds. However, these potential signs of weakness are unlikely to last, as the tailwinds supporting the stock markets rise - including corporate spending on artificial intelligence and demand from retail investors - will continue to power the market in the final months of 2025. "Stay positive on structural demand, but hedge against short-term risks, as September to October remains a fragile window," Rubner wrote, adding that investors should view short-term pullbacks as buying opportunities.European Commission President Ursula von der Leyen stated that Russias war economy relies on revenue from fossil fuels. To prevent this, the Commission will propose an accelerated phase-out of Russian fossil fuel imports.

XRP Finds Relief on Binance News to Bring $0.40 into View

Skylar Shaw

Nov 15, 2022 16:48

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Monday saw an increase in XRP of 10.76%. XRP finished the day at $0.37691, reversing a loss of 6.07% from the previous day. Notably, XRP avoided the red for the second time in 10 sessions and finished the day below $0.40 for the sixth straight session.


XRP fell to an early low of $0.3210 due to a bearish start to the day. At $0.3259, XRP breached the First Major Support Level (S1). The market's response to the news that Binance had started a recovery fund, however, caused XRP to reach a late high of $0.37899. At $0.3616, the First Major Resistance Level (R1) was reached by XRP, which it overcame to end the day at $0.37691.


FTX was still the dominant topic heading into the Monday session. The market was still gripped by contagion anxiety, which caused XRP to drop below $0.33 for the first time in five sessions. The Binance news, however, encouraged an XRP and broader-based cryptocurrency rebound.


Investors anticipate that the recovery fund will lessen the market's overall impact of the FTX crash. Updates from the SEC v. Ripple case continued to strengthen the price of XRP.

The court grants requests to file amicus briefs by November 18

On Monday, a court decision disfavored the SEC. Judge Torres allowed requests for the Association, six XRP holders, Coinbase, the CCI, Valhil, Cryptillian, Veri DAO, Reaper Financial, InvestReady, NSEI, and Paradigm to submit formal briefs by November 18 in their court cases.


The SEC had moved for a November 11 deadline for all Amicus Brief submissions prior to the Court's ruling. The most recent Court decision implies that the Amicus Briefs might have an impact on the Court.


The rally on Monday was sparked by the news of the Binance recovery fund, but the court's ruling on Monday confirmed those who had predicted Ripple would prevail in its legal battle with the SEC.