The cryptocurrency market is known for its volatility, with Bitcoin (BTC) at the center of many of these changes. BTC’s recent sharp reversal from a peak of over $70,000 has caused major cryptocurrencies like Sui (SUI) and Ripple (XRP) to fall in price.
Currently, the SUI looks to be holding steady at support, but all eyes are on Bitcoin, which remains under pressure at $67,000. In order for cryptocurrencies like the SUI to maintain their position, BTC must remain above $66,000. If BTC recovers to $70,000, cryptocurrencies including the SUI could see a price rebound.
Sui partners with Google Cloud to improve data access.
Sui is a Layer 1 blockchain platform that has established a strategic partnership with Google Cloud through ZettaBlock. This collaboration enables developers to access blockchain data in real time using Google Cloud's Pub/Sub service, opening up new possibilities for innovative applications.
The integration aims to improve the security, scalability and user experience of decentralized applications (dApps), with a particular emphasis on artificial intelligence and blockchain. Vertex AI has been teaching Sui the Move programming language, which Mysten Labs created for Sui to enable Web3 developers to debug code faster.
This AI-based technology also helps in code creation, making the development process more efficient. Mysten Labs, the inventor of Sui, has also incorporated AI into its ecosystem by launching an AI-based code auditing tool.
The tool uses Google Cloud’s artificial intelligence capabilities to detect security vulnerabilities in popular programming languages such as Rust, Move, Typescript, and Solidity. This improves the security of dApps and blockchain-based applications by enabling developers to quickly identify and resolve vulnerabilities.
The deadline for Ripple's case against the SEC expires on October 24.
Ripple has taken a major step forward in its long-running legal battle with the SEC. As the deadline approaches, one of Ripple’s co-founders, Chris Larsen, has filed a key document with the court. The filing follows a procedural warning issued to Ripple by the U.S. Court of Appeals for the Second Circuit.
On October 22, the U.S. Court of Appeals for the Second Circuit reminded Ripple that it needed to file a Form C in its counterclaim against the SEC. Chris Larsen quickly responded to the court’s order by filing a “Notice to Appear.” This step was intended to expedite the process as the October 24 deadline was approaching.
By October 24, Ripple must file Form C to counter the SEC's counterclaim. If it fails to file the form on time, Ripple could lose the ability to present an oral defense.
XRP Price Analysis
Leading analyst Dark Defender provides insights into XRP price trends, pointing out important levels and possible targets. Despite a period of consolidation, data suggests the future of this digital asset is positive.
XRP price fell by 2.24% on Tuesday, October 22, continuing to retreat from the previous day's decline. Investor sentiment remains cautious amid the SEC's appeal. XRP price is likely to remain below the key $0.55 level while awaiting the SEC's opening statement.
If the SEC presents strong evidence to overturn the procedural sale judgment, XRP price could drop below $0.50. On the other hand, if the SEC abandons the appeal or the appellate court denies a hearing due to late filings, XRP price could reverse its upward momentum in July 2023.
Don’t Miss: DTX Coin Price Is About to Surge
With less capital and no central authority, DTX Exchange (DTX) has been rated by multiple analysts as one of the best initiatives for 2024. Since the addition of the staking mechanism, the demand for DTX Exchange has increased significantly.
As one of the major players in the DeFi space, DTX Exchange makes its tools available to both traditional and cryptocurrency traders. It is a combination of a controlled and decentralized exchange built on the VulcanX blockchain.
The hybrid platform has raised more than $5.5 million in its fourth phase of presale. The current price of DTX coin is $0.08. Given that the token is set to soar to $0.10 in the upcoming round, experts call it a great investment opportunity.
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