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June 21 (Observer) – British Prime Minister Keir Starmer is expected to resign and announce his departure timetable next Monday, but a government source says Starmer remains focused on his duties. Pressure on Starmers position has been mounting for months and intensified significantly on Friday after his political rival, Andy Burnham, won a seat in Parliament, enabling him to launch a formal leadership challenge. The Observer reports that Starmer is discussing the matter with his wife at his country residence, Chequers, and has not yet made a final decision, but several senior Labour Party members expect him to make a clear statement on his future as early as Monday. However, government sources emphasize that Starmer remains focused on fulfilling his duties as Prime Minister, citing his previous statements as evidence. More than 100 Labour MPs have publicly stated their desire for Starmer to resign or set a clear departure timetable, representing about a quarter of Labour MPs in the House of Commons.According to Reuters, British government sources say that Prime Minister Starmer is focused on fulfilling his duties.June 21st - According to the British newspaper *The Observer*, British Prime Minister Keir Starmer is preparing a timetable for his departure. This comes after Andy Burnham, who suffered a major defeat to the Reform Party in the Greater Manchester by-election and is scheduled to be sworn in as a Member of Parliament next Monday. His supporters claim that if Starmer does not resign, Burnham has secured the support of over 201 Labour MPs to challenge him for leadership. This number exceeds half of the Labour Party in Parliament, meaning Starmer can no longer demonstrate his confidence in the House of Commons to the King. It is reported that after several rounds of discussions with cabinet ministers, Downing Street advisors, union leaders, and party donors, Starmer has concluded that his position in power is no longer secure. Senior Labour figures believe that Starmer may issue a "clear statement" as early as Monday. A Labour MP close to Starmer said: “He has come to terms with reality. As he said, preventing ‘chaos’ is no longer possible by staying in office, so there is only one option left. I think he has seen it as a responsible choice for the country and the party.” Another senior Labour figure said that Starmer now appears to have “accepted” the reality of his resignation.June 21 – It was learned from Iran on the 21st that the Iranian negotiating delegation has arrived in Zurich, Switzerland. The Swiss Foreign Ministry also confirmed the arrival of the Iranian delegation. The Swiss Foreign Ministry stated on social media that it welcomed the Iranian delegations arrival in Switzerland, and that the delegation is en route to Bürgenberg as part of implementing the memorandum of understanding signed between the United States and Iran.On June 21, a symposium on the 9th China International Import Expo (CIIE) was held in Oslo, Norway, with representatives from approximately 40 Norwegian companies and institutions in attendance. Norwegian participants stated that all sectors in Norway highly value economic and trade cooperation with China. The CIIE, as a high-level platform for opening up to the outside world, provides Norwegian companies with a practical and efficient path to promote high-quality products, cutting-edge technologies, and professional services, and to cultivate the Chinese market. Norway will continue to pool resources and actively mobilize various Norwegian companies to participate in the CIIE, further strengthening the mutually beneficial ties between China and Norway and improving the quality and efficiency of bilateral trade cooperation.

XRP and a Return to $0.50 Remains in the Hands of the SEC v Ripple Case

Cory Russell

Nov 03, 2022 15:32

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Wednesday saw a 2.99% decline in XRP. XRP lost 0.18% on Tuesday and closed the day at $0.45025. Notably, XRP missed $0.47 for the third session in a row.


Despite a tumultuous day's start, XRP reached an early high of $0.46579. XRP fell to a late low of $0.44533, falling short of the First Major Resistance Level (R1) at $0.4690. At $0.4570, the First Major Support Level (S1) was breached by XRP, which finished the day at $0.45025.


The FOMC policy decision and press conference took center stage, pushing updates from the SEC v. Ripple lawsuit to the sidelines.


Counterparties take a break from filing amicus briefs while the Fed speaks.


On Wednesday, Amicus Brief filings were suspended. Investors must wait for SEC and Court responses on the filings after a series of requests and filings.


The Amicus filings show XRP uses that support the Defendants' position, and there has been substantial support for the Defendants; but, the Court would need to come to a same conclusion.


The SEC has chosen to hold off on making a statement until November 15 because it will not give up easily. The deadline for filing temporary under seal summary judgment reply papers is November 15.


The Fed now controls XRP since there have been no developments on the case. Prior to Fed Chair Powell sending riskier assets into the red, the first market response to the FOMC announcement drove XRP to an afternoon high. The markets had gambled on a December Fed Pivot before to the FOMC policy decision. Powell eliminated any doubt and emphasized the need to keep raising rates to combat inflation.


Later on today, attention will once again turn to US economic statistics, with the ISM Non-Manufacturing PMI and its sub-components expected to have the most impact.


Updates from the current SEC v. Ripple lawsuit will still provide XRP direction, however.