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Reserve Bank of New Zealand: While the recruitment process continues, the leadership position in financial stability and the Reserve Bank of New Zealand’s financial stability functions will continue to operate normally and without disruption.HSBC Global Research: Lowered its target price for Xiaomi Group (01810.HK) from HK$58.50 to HK$53.40.Citigroup lowered its target price for Hesai Technologys H shares from HK$296.90 to HK$257.50.Bernstein: Lowered its target price for Hesai Technologys H shares from HK$253.00 to HK$249.00.Futures Commentary by Everbright Futures: 1. Expectations of a US-Iran ceasefire and peace talks emerged, leading to a strengthening of precious metals overnight. London spot gold rose steadily, returning to $4,500/ounce in early trading on Wednesday. COMEX gold futures closed up 1.19%, and SHFE gold rose 0.37%. The US government is seeking a one-month ceasefire for negotiations. While proposing a ceasefire, it is also accelerating troop buildup. As of press time, Iran has not responded, but on the evening of the 24th, Irans Bushehr nuclear power plant was attacked again by the US and Israel. A key turning point in geopolitical events has emerged, causing a sharp decline in crude oil prices and a rebound in gold prices. However, uncertainty remains in the US-Iran negotiations, leading to increased volatility in gold prices during the day. 2. The market continues to focus on the US-Iran conflict. The US president stated that US-Iran negotiations "may be quite close to reaching an agreement," and Iran agreed never to possess nuclear weapons. Reports indicate that the US intends to implement a one-month ceasefire and has proposed a 15-point peace plan. The expectation of a de-escalation in US-Iran relations has been a major factor in the recent market sentiment recovery, highlighting the markets sensitivity to geopolitical situations. However, the future of US-Iran negotiations and conflict remains uncertain, meaning gold prices may remain highly volatile. Conservative investors may continue to observe, while aggressive investors are advised to adopt a buy-on-dips strategy, especially after the rapid release of short-selling sentiment, which presents better buying opportunities. Silver, platinum, and palladium are currently fluctuating in tandem with gold, increasing the difficulty of trading. Gold plays a significant role as a "ballast" among precious metals; attention should be paid to when gold prices return to an upward trend, and investors should wait for the right opportunity to act.

XRP Bulls Look for a Path to $0.40 on Pending SEC v Ripple Rulings

Cory Russell

Jan 12, 2023 15:24

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Wednesday saw an increase in XRP of 6.33%. Tuesday saw a rise of 0.46% for XRP, who closed the day at $0.37291. Significantly, XRP extended the winning run to four sessions by finishing the day at $0.37 for the first time since December 15.


XRP saw a negative start to the day, dropping to an early low of $0.34800. The price of XRP increased to a late high of $0.37834, avoiding the First Major Support Level (S1) at $0.3443. The Major Resistance Levels were broken by XRP before a short decline through R3 ($0.3718) to below $0.37. But after a strong session, XRP crossed back above R3 and finished the day at $0.37291.

The SEC v. Ripple Case: Investor Attitude Delivers $0.37

Investors were left to consider the most recent court filings since there were no updates from the ongoing SEC v. Ripple lawsuit to affect them.


The parties submitted their objections to the omnibus motions to seal on Monday. Notably, the Defendants kept concentrating on the records pertaining to the William Hinman speech, putting the possibility of a settlement on the table.


The SEC is steadfast in its effort to keep the substance of the records linked to the William Hinman speech out of the public eye, and these materials remain crucial to the case.


Investors are eagerly awaiting the outcome of the Summary Judgment Reply papers and the document redactions relating to the William Hinman address. There are still two court dates, but the rulings might be made at any moment.


Daubert Motions must be filed by the parties on January 13 and opposition to non-party motions to seal must be filed by both parties and non-parties on January 18, which was the original deadline.


While there will be interest in the files, the decisions on the redactions relating to the Hinman speech and the Summary Judgment Reply brief might be crucial. A settlement can result from a decision that the SEC cannot safeguard the information included in the records relating to the Hinman speech.


Investors should keep an eye on the SEC v. Ripple case developments today, as they might significantly influence the result, even though the overall crypto market will offer direction. However, XRP would be in the hands of the larger crypto market if there were no SEC v. Ripple news.


Initial unemployment claims and the US CPI Report will be of importance later today. A hotter-than-expected CPI Report and a decline in initial applications for unemployment benefits to below 200k would put the buyer's appetite to the test.

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