XRP rises after SEC and Ripple end legal battle: CNBC Crypto World

Market Trends & Crypto Performance - Executive order clears path for crypto in 401(k)s, boosting Ether and XRP [1][2] - Bitcoin dipped by more than 0.5%, trading above $116,000; Ether climbed nearly 3%, approaching $4,000; XRP jumped more than 5% [3][4] - For the week, Bitcoin climbed about 2.5%, Ether rose a significant 12%, and XRP jumped nearly 7% [4][5] - CleanSpark shares are down around 7.5% despite reporting record revenue last quarter, driven by Bitcoin mining [5] Company Financials - CleanSpark reported net income of over $257 million compared to a net loss of $236 million a year ago [6] Expert Analysis & Market Outlook - Crypto market consolidating after a strong run, with Bitcoin showing strength around $110,000, indicating buying interest on dips [8][9] - Positive signs include gold and Bitcoin picking up as equity markets show near-term topping, though crypto remains vulnerable to stock market movements [10] - Administration support for crypto is significant, with potential for crypto inclusion in 401(k)s having a huge long-term impact [12][13][14][15] - Market anticipates a likely 25 basis point rate cut, with potential for a surprise 50 basis point cut, which could weaken the dollar and benefit assets like Bitcoin and gold [19] - Key factor for the remaining year is the potential entry of large players, countries, governments, and sovereign wealth funds into the crypto space [20] - Rotation into ETH and ETH-related assets is a normal catch-up trade after Bitcoin runs, with anticipation for the next "bite" of Bitcoin by September [21][22][23][24]