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July 15th - According to the Financial Times, multiple sources familiar with the matter revealed that the European Commission plans to announce a series of penalties against Google within the next week. This move will further strengthen the EUs oversight of large technology companies as tensions between the EU and the US over digital regulatory rules begin to ease. According to an internal European Commission document and multiple sources familiar with the plans, EU enforcement agencies will make several independent decisions against Google, imposing fines totaling hundreds of millions of euros. The enforcement action will also include threats of daily penalties and new regulatory directives issued under the Digital Markets Act (DMA). Under the EUs DMA, companies that violate regulations can face fines of up to 10% of their global turnover; Googles parent company, Alphabet, had revenues of $402.83 billion last year.According to the Financial Times, Brussels is preparing to impose a new round of fines on Google as regulatory scrutiny of large tech companies intensifies.Bank of Montreal: Raises its price target for Goldman Sachs (GS.N) from $1,070 to $1,190.July 15th - On July 14th, He Xiaopeng traveled to Germany to participate in the localization acceptance testing of XPeng Motors second-generation VLA model. Currently, the second-generation VLA can effectively recognize complex European road signs, understand European traffic regulations and right-of-way systems, and adapt to the habits of local users. This acceptance test marks a key milestone in XPengs second-generation VLAs overseas localization verification, making XPeng the first domestic company to simultaneously establish a unified model for both China and Europe.Wells Fargo lowered its price target for Microsoft (MSFT.O) to $625 from $650.

XRP Price Action Turns Bearish as the SEC v Ripple Case Gains Momentum

Alice Wang

Oct 26, 2022 15:26

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3.32% less XRP was traded on Monday. XRP lost the 0.75% gain it had on Sunday and finished the day at $0.45344. For the first time in four sessions, XRP closed the day below $0.46, snapping a three-day gain run.


The day got off to a rocky start with XRP reaching an early high of $0.47322. The price of XRP dropped to a low of $0.44800 in the early afternoon after failing to pass the First Major Resistance Level (R1) at $0.4768. Before temporarily returning to $0.46, XRP breached the First Major Support Level (S1) at $0.4565. However, a negative day's finale caused XRP to retrace through S1 and finish at $0.45344.


Investor perception of the SEC v. Ripple lawsuit has changed to one of caution as the parties get closer to a potential resolution.

Investors Grow Wary of the SEC v. Ripple Decision

Over the weekend, the market provided support, but on Monday, sentiment shifted to the downside. After the parties submitted public, redacted copies of the opposing papers on Monday, updates have not yet been made.


Although the Defendants have recently received positive court rulings, the case's advancement is starting to pick up speed. We anticipate that XRP price volatility will increase as the case develops in reaction to updates and chitchat from both sides.


The materials associated with the Hinman speech continue to be a topic elsewhere. The SEC requested "in camera review suggested redactions to two versions of Director Bill Hinman's June 2018 speech that reference ongoing findings before the Commission," and investors are awaiting the court's reaction.


The SEC intends to use redactions to keep the information from becoming public after failing to protect the documents relating to the Hinman speech under the attorney-client privilege. Investor resolve would be put to the test if the SEC won the case.


Despite the SEC's best efforts, William Hinman continues to play a significant role in the SEC v. Ripple case. Bitcoin (BTC) and Ethereum (ETH) are not securities, according to William Hinman, Division of Corporation Finance, in a well-known 2018 lecture.

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