U.Today – Top Three Crypto News Stories

XRP Price Collapses as SEC Appeals Ripple Case

After suspense leading up to the October 7 deadline, the U.S. SEC has decided to appeal the ruling in the Ripple case. Last year, Judge Analisa Torres ruled secondary XRP sales as nonsecurities, a significant win for Ripple. Stuart Alderoty, Ripple’s chief legal officer, was not surprised by the 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% in the last 24 hours according to CoinMarketCap.

When Does “Uptober” Really Start? Bitcoin Price History Reveals All

October has started poorly for Bitcoin, dropping 3.98%, and altcoin market cap shrinking by $41.67 billion. Analyst Timothy Peterson suggests “Uptober” may not begin until after October 19. Historically, Bitcoin performs well in October with an average gain of over 14%, but the month started disappointing. It may be prudent to wait for two more weeks, as historical data points towards potential future gains.

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

Recent data from IntoTheBlock shows that Shiba Inu experienced a massive spike in large holders’ net flow, increasing by over 2,944%. The net flow totaled 322.7 billion SHIB tokens into whale wallets, a rebound from the previous day’s negative flow. This change indicates bullish sentiment among whales. Shiba Inu’s renewed interest follows a 40% price rally after emerging from a six-month downtrend, although it faced a 19% drop before a 6% rebound. This correction is seen as healthy for future growth.