U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Ripple lawsuit: big “reveal” nears as John Deaton shares when exhibits will go public
As reported by U.Today, Ripple and individual defendants have filed a memorandum of law in response to the SEC’s motion for summary judgment. The official Twitter account of John E. Deaton’s CryptoLaw tweeted that when both parties’ responses are unsealed, they will work to upload everything to their Document Library as quickly as they can, including 440 exhibits filed alongside the responses. Deaton thanked his team, adding that some of the exhibits are hundreds of pages, and a lot would be made public by Monday, Oct. 24. He further shared that on that day, the public will get to read limited redacted versions of the oppositions only and that 56.1 statements, counter statements, exhibits, deposition testimony, etc., will not become available for the public until late December or January.
DOGE and SHIB to go parabolic in next bull run, David Gokhshtein thinks
David Gokhshtein, former U.S. congressional candidate and founder of Gokhshtein Media, has once again endorsed Dogecoin and Shiba Inu in his latest post on Twitter. He believes that these meme coins are likely to go parabolic when the next bull run begins on the crypto market. However, in his earlier tweets, Gokhshtein also stated that he is long on Bitcoin, Ethereum, and that “XRP is coming whether you like it or not.” Previously, Gokhshtein Media founder shared his regrets about not getting into SHIB in a big way, adding that the “Dogecoin killer” narrative had prevented him from doing so.
BabyDoge community responds to Elon Musk’s tweet, price jumps
In a recent tweet, Tesla CEO Elon Musk shared an encouraging message with his followers, saying that he will never let them down, “no matter what it takes.” The BabyDogeCoin Twitter handle responded to Musk’s post, expressing gratitude for people like him “for leading innovation while also not being worried to speak out.” Shortly after this exchange of tweets, the price of BabyDoge spiked, seeing a sharp rebound from Wednesday, Oct. 19, lows of $0.00000000113 to highs of $0.00000000124 within hours. At the moment of writing, Baby Doge Coin is trading at $0.00000000117, down 1.04% over the past 24 hours.
XRP and Cardano (ADA) slowly becoming bullish, indicator shows
According to social metrics developed by Santiment, the communities around XRP and ADA are bullish despite the reversal of the former and the poor market performance of the latter. Cardano recently lost the strong support level it had been using as a bounce foundation for the last few months. XRP, in turn, has been losing what it has gained on Ripple’s success in court in the last two weeks. The key driver behind the sudden positivity spike is the expectation of the market: the majority of traders and investors anticipate a recovery in Q4, 2022. In case of a successful recovery, Bitcoin should drag other assets with it, pushing cryptocurrencies like XRP and Cardano to the uptrend.