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"XRP’s Chart Breakout: Higher Highs Since June Hint at Explosive $4.47 Rally!"

The Crypto Basic

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The recent #XRP price action and a lack of resistance at the current level suggest new all-time highs could be on the horizon. 
Read more on: https://thecryptobasic.com/2025/08/16/xrp-higher-highs-and-lows-since-june-signal-potential-run-to-4-47/
#CryptoNewss 

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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The SEC has filed a report to the Court of Appeals for the Second Circuit, updating the court about the current status of its lawsuit against Ripple. The latest report is a formal update to the court, highlighting the current development of the lawsuit. For context, on April 16, 2025, the securities regulator asked the Second Circuit to pause the case for 60 days to enable it to pursue a potential resolution with Ripple. Consequently, the appellate court mandated the SEC to file a status report by June 16 to reveal the progress of their settlement. Part of the resolution process involves modifying the final judgment by slashing the fine from $125 million to $50 million and dismissing the injunction imposed on Ripple’s future institutional sales of XRP. However, U.S. District Judge Analisa Torres rejected the parties’ request to modify her judgment. Not relenting, they re-filed the motion, addressing the procedural flaws raised by Judge Torres. The SEC subsequently filed a status report on June 16, requesting an additional 60 days for the resolution, with an update due by August 15. Judge Torres once again declined to modify her final judgment but encouraged the SEC and Ripple to withdraw their appeals. They followed her advice last week and filed to dismiss the appeals. In line with the June 16 directive, the SEC notified the Second Circuit about the progress so far, confirming that they filed a joint stipulation of dismissal, which is currently pending before the court. The Second Circuit must approve the dismissal before the multi-year lawsuit can be formally concluded. If granted, Ripple will pay $125 million to the SEC for selling XRP to institutions without obtaining registration from the SEC. In addition, the permanent injunction on Ripple’s future institutional sales remains in place, requiring the company to register any such transactions should it choose to sell XRP to institutions. #Crypto

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718,351 #Ethereum Worth $3.31B Trapped in Exit Queue — Withdrawals May Take Over Two Weeks. The waitlist for staking claims has reached a new record high amid growing withdrawal pressure from Ethereum validators. The number of days that stakers need to wait continues to grow as validators increasingly opt to unstake their assets on the Ethereum network. The wait time for the exit queue now stands at 13 days, 16 hours, a record period for validators. Meanwhile, this comes as the unstaking trend swings northwards. At the time of writing, 788,048 ETH, worth a staggering $3.63 billion, are currently on the exit queue. These growing parameters have sparked claims of network congestion from Whale Wire’s CEO, Jacob King, who mocked “future of finance” claims associated with networks like Ethereum. Notably, the wait time for exit validators has outpaced that for entry, with the latter currently standing at 5 days and 18 hours. The delay time for the two first depegged on July 21, with increasing unstaking fueling this unequal wait period. For the uninitiated, the exit queue is the waiting list for validators seeking to unstake their Ethereum from the network. Typically, this design intends to delay withdrawal briefly to maintain network stability, with just 16 of such transactions processed per block. However, the current waiting time is off the charts compared to the normal period. Meanwhile, DeFi analyst Ignas has provided some reasons for the growing exit queue and wait time. In a recent tweet, he highlighted that the current number of Ethereum in the unstaking list is at an unprecedented level. Furthermore, he noted that they came from the top three liquid staking token (LST) platforms: Lido, EthFi, and Coinbase. On why the withdrawal spiked, the analyst suggested it came as users unwound leveraged Ethereum. For context, he mentioned that validators used staked ETH (sETH) to borrow from Aave and repeat the process for a higher yield. However, as the borrowing rates spiked, they are now unwinding. #CryptoNewsFlash

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#Dogecoin Whale Activity Hits One-Month Peak as Whales Accumulate 2B DOGE. Dogecoin whale activity has reached its highest level in a month, according to data from market analyst Ali Martinez. In a post on X, Martinez revealed that large transactions above $1 million surged past 100 on August 13 as the meme coin’s price tested the $0.25 mark. The increase follows a 26% recovery from early August lows near $0.195. The jump in whale transaction count above 100 marks the most active day for large holders since mid-July. In the preceding weeks, daily whale transactions mostly ranged between 20 and 60. Adding to this, Martinez highlighted that whales holding between 100 million and 1 billion Dogecoin have accumulated around 2 billion tokens over the past seven days, worth roughly $500 million at the current price. This buying spree has pushed total holdings in this cohort to approximately 27.6 billion DOGE, the highest in over a month. #CryptoNewsCommunity

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“Ripple CTO Says Institutions Can Transfer Value on XRPL Without Using XRP”

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Treasury Secretary Confirms the U.S. Will Not Buy Any More #Bitcoin . Treasury Secretary Scott Bessent has clarified that the United States will not be purchasing additional Bitcoin, a position that diverges from earlier suggestions made by other government officials. Speaking on FOX Business during the Mornings with Maria program, Bessent addressed several issues from the Trump administration’s agenda, including tariffs, the selection of the next Federal Reserve chair, the housing market, and the future of the country’s gold and digital asset holdings. Host Maria Bartiromo asked whether the Treasury planned to revalue its gold reserves. She pointed out that the government’s 261.5 million ounces of gold are currently valued at $42.22 per ounce based on a 1973 price, which amounts to $11 billion on paper. However, Maria noted that at current market rates, these gold holdings would be worth around $750 billion. She questioned Secretary Bessent if the Treasury was looking at revaluing these holdings. Bessent responded by noting that the government maintains a large gold reserve, which they might not be revaluing. He emphasized that the gold would remain in place as a store of value for the American people. The Treasury Secretary then switched to digital assets, noting that the administration has moved to modernize its holdings by establishing a strategic Bitcoin reserve. He explained that the government has funded the reserve through seized assets. According to Bessent, the reserve is worth between $15 billion and $20 billion at current prices. However, he revealed that the administration has no plans to buy more Bitcoin, reiterating that it will continue to grow the reserve only through confiscated assets. Data from Arkham shows the US government holds 198,022 BTC worth $24.34 billion. Bessent also confirmed that the government has no plans to sell any of the assets already in the reserve. Recall that in March, White House Crypto Czar David Sacks noted that the previous administration lost around $17 billion by selling some of its Bitcoin holdings. #Crypto

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