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The post Solana (SOL) And Terra (LUNA) Could Ignite An Uptrend By The Weekend! This Is Where You Can Book Profits! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

  The folks from the crypto-verse are ever keen on buying potential digital assets at the dips. Marketers are now acute on investing in prominent cryptocurrencies such as SOL, and LUNA. Which are currently sailing at the bottoms and might ignite a run to the highs. Whilst the SOL’s price has been hovering closer to its crucial support levels. LUNA’s price has parted way with its major support. 

Solana (SOL):

  SOL’s price on the daily timeframe has been ranging in a descending triangle for well over a month. The digital asset at the time of publication is changing hands at $80.94, whilst bearing losses accounting for 3.85%. While the market capitalization is hovering around $26,732,113,518. The volume of trades for around the clock is down by 19.03% at $1,478,555,033

The altcoin is sticking closer to its crucial support level at $80. From which SOL has bounced 4 times since the start of the year. A revival in buying spree will push the price to $89.4 by the start of next week. Validation of an uptrend will take the price to $94.4. On the flip side, the next immediate support lies at $71.985. Losing out of steam from the levels could land the price at $66.33

Terra (LUNA):

  LUNA’s price had set on an uptrend since the start of May, which took the price to $88.36 by the 4th of May. However, an increase in selling pressures has dragged the price by close to 17% over the past 3 days. The altcoin at the time of press is changing hands at $73.13, with negative gains of 9.04%. While the market cap is floating at $25,050,792,986. The volumes for 24-hours are at $2,586,658,14

Amidst turbulence, LUNA has fallen below its support levels at $76.60. The RSI is currently hovering closer to the oversold regions at $28.9. Wherefore, buyers might start stocking up over the weekend. In such a case, the price could shoot up to $82.330. A surge from which could push the price to $85.24. Conversely, bearish trends could drag the price to its multi-month low of $70.36

Concluding, the current trading levels of both Solana and Terra have been enticing enough to place buy orders. As a rebound can be expected in the short term, provided marketers don’t fall prey to FUD and panic. Successively, both the digital assets could portray imperative changes on the charts over the weekend. 

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  1. A U.S. judge recently quashed the Securities and Exchange Commission’s (SEC) request to block XRP holders from aiding in Ripple’s defence and prohibit attorney John E. Deaton from further participating in the proceedings.

    XRP Holders Can Continue Aiding Ripple Defense

    As the case against Ripple rages on, a U.S. District judge of the Southern District of New York has dealt a brutal blow to the SEC.

    On Wednesday, Judge Analisa Torres rejected efforts by the SEC to revoke the amici status of XRP holders. This means that CryptoLaw founder John Deaton will continue to represent the interests of 67,000 XRP token holders in the case.

    According to defence lawyer James K. Filan who shared the new development on Twitter, amici is not allowed to participate in the expert challenge at the moment but can apply to brief their concerns about the SEC expert at the summary judgment.

    Deaton and other movants were permitted to act as amici curiae — an individual or organisation not involved in the litigation but allowed by the court to advise or provide expertise and insights — in October 2021. At the time, the court ruled that such assistance would be most useful during the briefing on dispositive motions.

    As you will recall, the SEC requested the court to bar XRP holders from participating in the case last week after Deaton filed an amicus brief to address the commission’s expert Patrick B. Doody.

    Yet Another Win For Ripple

    Reacting to the new development, Deaton stated that the XRP community should continue appreciating the two judges presiding over the long-standing case. He further observed that Judge Sarah Netburn has been fair to both sides during the discovery phase. At the same time, Judge Analisa Torres’s rulings are impartial and just — despite recently throwing out his immediate motion.

    As for XRP enthusiast Fred Rispoli, “this is a win for sure”. “Although J. Torres denied Amici’s request for Daubert participation, the same purpose will be achieved by SJ participation. And although she implicitly denied access to Doody report, SEC already lost that issue re: Daubert motion redactions,” he summarized.

    As we have covered previously, the outcome of the SEC vs. Ripple lawsuit will most likely determine whether XRP is a security. If the court rules in the SEC’s favour, it could be the precedent the securities watchdog needs to go after other cryptocurrency projects that issued and sold tokens similar to Ripple.

    Meanwhile, XRP has gained 9.57% over the last 24 hours to change hands at $0.37 as the majority of cryptocurrencies attempt recovery. The payments token is currently the sixth-largest cryptocurrency with a market cap of $18 billion.

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