XRP price rises as Ripple case continues; US and South Korea demand extradition of Do Kwon; Kraken signs sponsorship agreement with Williams Racing;
XRP price hit $0.57!
John Deaton said that the Ripple case would be over soon. XRP price continues to rise as the Ripple lawsuit continues.
XRP is trading at $0.57, up 19 percent in the last 24 hours. With its recent price action, XRP managed to surpass the $0.57 price level for the first time since September 2022.
The contentious lawsuit between Ripple and the SEC, which has been going on since 2020, is expected to conclude soon. The price of XRP is increasing thanks to the developments in the case and the crypto community, which believes that the case will end soon. XRP is showing a huge rise for the second consecutive day as of March 29.
As the digital asset market recorded a massive recovery, the XRP price managed to achieve maximum gains among the top 10 cryptocurrencies. However, the largest cryptocurrency, Bitcoin (BTC), regained the $28,000 price level.
The data shows that the XRP market cap has registered an inflow of around $4.7 billion in the last 24 hours. XRP market cap, on the other hand, hovers above $29.5 billion as it faces regulatory challenges from the US Securities and Exchange Commission (SEC)
US and South Korea demand extradition of Do Kwon
US and South Korean authorities are making efforts to extradite Terra co-founder Do Kwon after his arrest in Montenegro.
Montenegrin Minister of Justice Marko Kovač stated at a press conference today that the United States is making diplomatic efforts to extradite Kwon, while South Korean authorities have requested his extradition. Kovač announced that Kwon’s detention has also been extended by 30 days.
Kovač stated that in determining which country Kwon will be extradited to, many factors such as the gravity of the crime committed, the place and time of the crime will be taken into account.
Kovač stated that decisions regarding Kwon’s custody will be taken at the Montenegrin Supreme Court. The Minister of Justice said that the Terra co-founder used a fake passport while residing in Montenegro. Therefore, Kwon is in danger of being imprisoned in Montenegro before being extradited to another country.
After Terra’s collapse in May 2022, Kwon’s whereabouts were unknown. However, Kwon was often active on Twitter. In February, news suggested that Kwon may have traveled to Serbia, which borders Montenegro, after Interpol issued a red notice.
Kraken signs sponsorship agreement with Williams Racing
Formula 1 teams may have started to welcome crypto advertising again despite disputes over crypto sponsorships after the crashes of 2022.
Kraken and Williams Racing join forces
US-based cryptocurrency exchange Kraken announced yesterday that it has signed a partnership with the Williams Racing F1 team in a new sponsorship and Web3 deal. The agreement between Williams Racing and Kraken was the first partnership signed in Formula 1 in 2023.
The deal will cover not only the printing of the Kraken brand on Williams race cars, but also branded team merchandise and NFTs that team fans can collect.
The rear wing of the Formula 1 car is also expected to display digital collectible artworks from client KrakenNFT, one of the leading third-party NFT projects, in certain races.
Williams Racing commercial director James Bower also made some statements regarding the cooperation. Bower said he is delighted to provide his fans with cutting-edge crypto and Web3 experiences, while also allowing them to reach new institutional customers through Kraken’s networks and events.