Issue 6 – 2023 Crypto Live Casino News – XRP heads towards the 1 USD mark!

In this month’s Issue 6 – 2023 Crypto Live Casino News update, XRP is flying high, while the rest of the crypto community remains stagnant. (Photo by Kylie Anderson on Unsplash)

The crypto world got a boost from the Ripple court case a couple of weeks ago when the presiding judge ruled that XRP is a security when sold to institutional investors. The same judge had previously ruled that XRP was not a security when sold to retail investors.

This has created a great deal of debate on whether cryptocurrencies are securities or not and the SEC is reviewing the decision and will definitely challenge the ruling.

While the crypto industry has claimed victory over the SEC, there are several factors that are still in play. The ruling does not finalize the SEC’s reach, and appeals will certainly happen soon.

Another aspect under question is the Programmatic Sales (less than 1% of global business), which are loosely, not considered securities transactions and will have to be reexamined.

The SEC maintains that tokens/coins are securities, with little to no regulatory compliance and a watchdog is necessary to regulate the industry. After the collapse of several exchanges and the crash of some coins, it is evident that this is the major issue as we advance.

This week’s report will look at Bitcoin, Bitcoin Cash, Litecoin, TRON, Ripple and Ethereum to see where they may be headed in the coming weeks.

Last Month’s Report: Tune into last month’s iGaming cryptocurrency report to see where the prices were as of 21 June 2023 – Issue 5 – 2023 Crypto Live Casino News.

Crypto Price Watch

(Issue 6 – 2023 Crypto Live Casino News)

• Bitcoin (BTC) – Bitcoin dipped below $30k USD last week and has moved in a horizontal pattern since then. The market remains bullish on BTC as call options outpace the put options by 3x, with options as high a $32k USD. But… with the Federal Reserve interest rate decision next week, investors are content to wait and see if the Fed will raise rates. BTC is currently trading at $29,788 USD and is experiencing resistance a $30k and support at $29, 496 USD.
• Bitcoin Cash (BCH) – Bitcoin Cash has lost almost 10% since the last report. After a spectacular 186% jump last month, the coin has come off and is trading at $247 USD. The bullish run for BCH continues to wither and it would appear that the bears are taking over with shorts dominating with a 52% share, signaling selling pressure. Market analysts believe that BCH will dip below $240 USD in the coming weeks as many large investors have sold off sizeable stakes in coin.
• Litecoin (LTE) – The market is anticipating the halving of LTC in less than 2 weeks and has experienced increased investor interest but the share price has not fluctuated much. The altcoin is currently trading at $92 USD and has attracted whale investors, as confidence in the coin is high. This trend could be signaling a rally for retail investors who are jumping on the bandwagon, anticipating large short-term gains from the halving event.
• TRON (TRX) – TRON continues to creep up incrementally with a 6.5% increase since the last report. A troubling outcome of this rise is increased use of TRX in Iraq and Syria, which came out in an article from TRM Labs. Pro-ISIS organizations in these countries (and others) have used TRX (and Tether) to facilitate operations through cryptocurrency transactions. ISIS affiliated groups have funded recruitment, legal cases and assistance to free families held in camps. These fund transfers were identified through blockchain tracing on specific exchanges and has resulted in an arrest in Turkey. Previously, BTC was the preferred cryptocurrency used by this group but TRON has now taken that title, with an apparent 92% of terrorist financing in the last year.
  TRX is currently trading at $0.084 USD, with resistance at $0.083 USD and support at $0.081.
• Ripple (XRP) – Since the court’s ruling on XRP 2 weeks ago, the altcoin jumped 55% but has come off and is down 10% after hitting a two year high of $0.81 USD. The summary court judgement is definitely not the final outcome of the ongoing battle with the SEC as it doesn’t reflect the crypto industry as a whole and doesn’t address regulatory issues. XRP is currently trading at $0.073 USD and investors seem to taking a cautious approach to the ruling, causing short term price drops.
• Ethereum (ETH) – Ethereum share price benefited from the XRP court ruling but has come off 6.6% after hitting a July high of $2,004 USD. ETH has not had a negative month this year and is up 56% since January, but this could change in the next week. The price of Ethereum is currently trading at $1,869 USD and holding as investors await July 27^th for the Fed decision on raising interest rates.

Disclaimer: This report is not for investment advice. It simply helps players in the iGaming community that play at cryptocurrency casinos keep track of the latest movements. Also, join us over on our brand new best bitcoin live casino guide. You’ll find a complete guide to live dealer crypto gaming covering topics such as claiming crypto bonuses for live dealer games, cryptocurrency live casino lists, software providers and more!