Crypto Bits Recap June 27

The past few days have been action-packed, with the cryptocurrency market experiencing considerable volatility. Fortunately, this time, it was leaning to the upside, as most currencies tried to recover from the declines suffered earlier in the week.

In this roundup, we’ll examine what happened to Ripple, the Shiba Inu, and more.

Ripple (XRP) price speculation.

As previously reported by CryptoPotato, XRP saw a huge increase in its trading volume at the beginning of the week as the market was going through considerable turbulence.

At the time of writing, the cryptocurrency is trading down 5.7% for the week at around $0.47.

Now, as most of you know, Ripple Labs is involved in a massive case against the US Securities and Exchange Commission. The regulator is seeking a fine of more than $100 million for the company’s alleged failure to register its sales of XRP as securities. Ripple, on the other hand, argues that XRP does not meet the criteria of being a security.

We decided to poke ChatGPT, asking what the price of XRP would be if not for this demand.

The AI-based language model indicated that several factors should be considered, including market sentiment, adoption, and use cases, among others. Ultimately, however, he concluded that the price would probably have been higher.

It’s also worth noting that amid this ongoing uncertainty, XRP’s market depth remained stable.

Shiba Inu Developments (SHIB).

Elsewhere, Shiba Inu was also affected by the market turbulence. Unlike XRP, it saw a more substantial decline, trading at a loss of 8.5% over the past seven days.

A few days ago, the trading volume of SHIB also increased and soared more than 100%.

Shibburn data reveals that the cryptocurrency’s burn rate has decreased by more than 53% over the past 24 hours, resulting in the destruction of around 9 million SHIB tokens.

Source: Shibburn Other major headlines

In what appears to be one of the biggest news stories of the week, WikiLeaks co-founder Julian Assange has finally returned to Australia as a free man.

Interestingly, he needed $500,000 to cover his airfare. His wife turned to the online community for help and a mysterious donor sent exactly $500,000 in BTC to her address.

Speculation has it that it was Jack Dorsey, the co-founder of Twitter, who tweeted “Safe Passage” at the exact same time the donation was made.

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