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July 8 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed higher on Tuesday, with the benchmark contract rising 1.3%, mainly reflecting the potential for high temperatures in the Midwest to affect crop growth and a surge in international crude oil prices. International crude oil futures rose sharply on Tuesday, influenced by reports of attacks on ships near the Strait of Hormuz, which pushed up prices for soybeans and corn, widely used in biofuels. The latest weather models indicate that high temperatures are likely in the Midwest and Central Plains regions, lasting until mid-July, when most corn crops will be in pollination. An analyst stated that weather map data shows a strong heat wave expected in the Corn Belt from this weekend until July 15th. He added that crops in Europe have already been affected by the heat, increasing risk premiums in the corn market.Japans seasonally adjusted current account balance for May was 30.645 billion yen, below the expected 3.2167 trillion yen and the previous months 4.2111 trillion yen.Japans trade deficit in May was 6.9 billion yen, compared to a forecast of -221.9 billion yen and a previous figure of 395.7 billion yen.1. Meta launches Muse image generation tool. 2. Samsung begins mass production of next-generation enterprise-grade SSDs for Nvidias Vera Rubin. 3. SpaceX AI plans to release a new model in collaboration with Cursor as early as Wednesday. 4. Amazon will issue eight tranches of investment-grade bonds, raising at least $25 billion. 5. BrainTiger Technologys "Sanquan" brain-computer interface system initiates GCP registration clinical trials. 6. Ministry of Industry and Information Technology: my countrys humanoid robot production is expected to exceed 100,000 units this year. 7. National Development and Reform Commission: Sales of AI smartphones and AI computers are expected to surpass non-AI products for the first time this year. 8. Alipay AI Open Platform launched; merchants can connect to mobile phones, in-vehicle systems, and AI glasses through "Abao". 9. my countrys first 5-meter-class reusable rocket was transported to the launch pad; the Long March 10B Y1 awaits launch window. Japans May trade balance will be released in ten minutes.

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

Cory Russell

Jan 12, 2023 15:28

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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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