U.Today – Top Three Crypto News Stories

XRP Price Collapses as SEC Appeals Ripple Case

After keeping the XRP community in suspense until the Oct. 7 deadline, the U.S. SEC has officially decided to appeal the ruling in the Ripple case. Last year, Judge Analisa Torres ruled that secondary XRP sales are considered nonsecurities, marking a significant victory for Ripple. Stuart Alderoty, Ripple's chief legal officer, stated he anticipated the SEC's appeal but believes it won't affect XRP's legal status. Following the announcement, XRP's price dropped significantly, trading at $0.52, down 10.85% over the last 24 hours, according to CoinMarketCap.

When Does "Uptober" Really Start? Bitcoin Price History Reveals All

October started poorly, with Bitcoin down 3.98% and altcoin market capitalization shrinking by $41.67 billion. Yet, Bitcoin analyst Timothy Peterson suggests that the anticipated "Uptober" may not commence until after Oct. 19. Historical data shows Bitcoin typically performs well in October, averaging over 14% gains. Despite a disappointing start, perseverance may reveal better market conditions in the coming weeks.

Shiba Inu (SHIB) Explodes 2,944% in Massive Bullish Whale Activity Spike

Recent data from IntoTheBlock reveals that Shiba Inu experienced a major spike in whale activity, with a 24-hour net flow increase of over 2,944%. Specifically, 322.7 billion SHIB tokens flowed into whale wallets, contrasting a previous negative flow. This indicates a bullish trend among large holders. The price of SHIB surged after breaking a six-month downtrend, although it faced a slight correction of 19% before rebounding by 6%. This correction is seen as a healthy adjustment for future growth.

This article was originally published on U.Today.