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This Week in Crypto: Bitcoin Circles $100,000, Ripple’s RLUSD Efforts, Cardano Founder Calls for Unity

Author: Content Editor
This week in crypto, BeInCrypto covers various topics including Ripple's attempts to launch its RLUSD stablecoin, Bitcoin reaching the $100,000 milestone but facing a pullback, and Cardano founder Charles Hoskinson calling for unity within the crypto industry.

Ripple is expecting approval from the New York Department of Financial Services for its stablecoin RLUSD, which would be a significant win for the company after its battle with regulators. However, there have been delays and challenges in the approval process. Despite this, Ripple's ecosystem saw a surge in meme coin prices, but the bullish trend didn't last as XRP is now facing resistance and declining in price.

Bitcoin finally reached the $100,000 milestone, causing some unusual actions in the market. The defunct exchange Mt. Gox moved a large amount of Bitcoin, causing speculation and a flash crash. The US federal government also made major Bitcoin transactions, further adding to market uncertainty. Despite the temporary decline, Bitcoin crossed the $100,000 mark once again.

Charles Hoskinson emphasized the need for unity within the crypto industry, calling for communities to set aside rivalries and work together. He warned of potential legal crackdowns and highlighted the lingering hostility from the banking sector towards crypto.

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