The price of major crypto asset
XRP (CRYPTO: XRP) has seen a spike of about 39% after a ruling in a United States court.
What Happened: Ripple saw another major win by its legal team as a federal judge exempted Ripple s executives from having to provide their personal financial records to the Securities and Exchange Commission (SEC).
Ripple Labs Inc is the developer of XRP.
The ruling was made by United States District Court Judge Sarah Netburn, of the Southern District of New York.
In the ruling on Friday, Netburn wrote that the SEC’s requests for the records were not relevant or proportional to the needs of the case.
The past week s bullish calls included the iPhone maker, Google s parent and an automotive leader.
Financial and energy giants and COVID-19 vaccine makers were among the bearish calls seen during the week.
The markets kept hitting new all-time highs in the first full week of the second quarter, and the big three U.S. indexes ended the week higher, led by the Nasdaq s gain of about 3%.
March jobs data and vaccination progress helped boost the market, the reopening trades and even the beleaguered FAANG stocks. As people argued over the meaning of infrastructure, the 10-year Treasury remained steady. JPMorgan CEO Jamie Dimon had some upbeat comments on economic recovery, but the Federal Reserve offered nothing new. While trading volume was muted, the sentiment seemed to be cautiously bullish ahead of next week s kickoff of the new earnings reporting season.
Volumes and open interest for CME Ethereum Futures reached a record high this week, according to data from crypto analytics platform Skew.
What Happened: Daily volume neared $240 million in a single day, and total open interest crossed $180 million. These were the highest observed levels since CME launched its Ethereum futures on Feb 8.
CME Ether futures had a record volume day this week pic.twitter.com/zchWxeA4O5
An associate from crypto asset fund Decentral Park Capital, Lewis Harland, highlighted that the all-time high in open interest on CME ETH futures was a sign that institutional demand for the cryptocurrency is growing.