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Major cryptocurrencies surged on Thursday evening, propelled by a partial Ripple Inc victory that resulted in Bitcoin and other prominent digital assets soaring to new heights. Ripple is the company associated with the XRP token.CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD +3.48%$31,411Ethereum ETH/USD +7.61%$2013Dogecoin DOGE/USD +8.89%$0.070

What Happened: Ripple achieved a partial victory against the Securities and Exchange Commission (SEC) in a recent court ruling.

Judge Analisa Torres partially sided with the company in a case filed by the Securities and Exchange Commission back in 2020. As per the documents filed on July 13, Judge Torres granted summary judgment in favor of Ripple Labs. The ruling stated that the XRP token is not considered a security in relation to programmatic sales on digital asset exchanges.

However, the court also ruled that the institutional sale of XRP can be categorized as a security when it is sold to institutional investors, as it meets the conditions outlined in the Howey Test.

In response to this ruling, XRP, the native cryptocurrency of XRP Ledger, reached a peak increase of 96%, with a value of $0.93. This level of pricing has not been witnessed since March 2022.

Its worth mentioning that XRP Ledger is an open-source, public blockchain specifically created to enable expedited and cost-efficient payments.

Top Gainer (24 Hour)CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)XRP+60.90%$0.7583Stellar+51.59%$0.1453Solana+34.45%$29.29

At the time of writing, the global crypto market capitalization stood at $1.26 trillion, an increase of 6.52% over the last day.

U.S. stocks rallied on Thursday following a favorable inflation report, propelling both the S&P 500 and the Nasdaq Composite to their highest levels in more than a year. The S&P 500 surged 0.85% and the Nasdaq Composite experienced even greater gains, rising 1.58%.

See More: Best Crypto Day Trading Strategies

Analyst Notes: "Bitcoin holds $30,200 and most likely will start looking at range high again. Another test and well have a swift breakout to $38,000," wrote crypto trader Michael Van de Poppe.

Pseudonymous analyst Kaleo believes that XRPs victory in this case against the SEC is ten times more bullish to him than any ETF filings like BlackRock and Fidelity.

Data from on-chain analytics firm Santiment said XRPs social dominance, which measures the percentage of discussions related to an asset compared to all top 100 market cap assets, has surged to 7.4%. This marks the highest level of discussion about XRP since January 2021. The significant attention and FOMO surrounding XRP suggest that a cooldown period may be on the horizon. However, once traders shift their focus elsewhere and stop paying attention, there is a strong possibility of a second pump wave occurring.

Photo Courtesy: Shutterstock.com

Read Next: Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users

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Politics

The lesson of El Salvador’s failed Bitcoin experiment

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The lesson of El Salvador’s failed Bitcoin experiment

The revolution is dead in El Salvador. It’s a lesson for developing nations who aim to seek out economic autonomy by making crypto legal tender.

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UK

Nottingham killer allowed to avoid vital medication because of ‘fear of needles’ claim, report reveals

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Nottingham killer allowed to avoid vital medication because of 'fear of needles' claim, report reveals

The man who killed three people on the streets of Nottingham was allowed to avoid taking long-lasting antipsychotic medication because he did not like needles.

An independent review also reveals that Valdo Calocane punched a police officer in the face and held his flatmates “hostage”.

He frightened one neighbour so much, she jumped out of a first floor window and seriously damaged her back.

Mental health staff did not visit his home alone.

Calocane, who had been diagnosed with paranoid schizophrenia, was sentenced to an indefinite hospital order after killing 19-year-old students Barnaby Webber and Grace O’Malley-Kumar, and 65-year-old caretaker Ian Coates, before attempting to kill three other people in June 2023.

NHS England initially planned to release only a summary of the report because of data protection laws, but reversed its decision “in line with the wishes of the families”.

Grace Kumar, Barnaby Webber and Ian Coates
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Grace Kumar, Barnaby Webber and Ian Coates

Those relatives say the revelation that Calocane was refusing his meds shows he may have been “spared prison on the basis of incomplete evidence”.

Nottingham attacks: Timeline of missed opportunities to stop killer Valdo Calocane
Warning over Nottingham killer years before attack was ‘another kick to the teeth’

Prosecutors accepted a plea of manslaughter after experts agreed his schizophrenia meant he wasn’t fully responsible for his actions.

But in a statement, the families said: “This was a man who actively avoided his medication and treatment, knowing that when he didn’t take his medication he would become paranoid and violent.

“He was responsible for his actions and was allowed to make these decisions by his treating teams, but yet when he came to court, we were told a very different story.”

A “theme” running through Calocane’s clinical records is that he “did not consider himself to have a mental health condition”, the review found.

That meant the importance of medication “never appeared to be understood” by him.

The report detailed four hospital admissions between 2020 and 2022 and multiple contacts with community teams before he was discharged to his GP because of a lack of interaction with mental health services.

Investigators found that “the offer of care and treatment available for VC (Valdo Calocane) was not always sufficient to meet his needs” and this was “not unique” to his case.

Health officials have admitted it is “clear the system got it wrong”.

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‘Monster’ beat top chef to death
Family of Sheffield school stabbing victim ‘utterly heartbroken’

Dr Jessica Sokolov, regional medical director at NHS England (Midlands), said: “It’s clear the system got it wrong, including the NHS, and the consequences of when this happens can be devastating.

“This is not acceptable, and I unreservedly apologise to the families of victims on behalf of the NHS and the organisations involved in delivering care to Valdo Calocane before this incident took place.”

Claire Murdoch, NHS England’s national mental health director, added: “Nationally, we have asked every mental health trust to review these findings and set out action plans for how they treat and engage with people who have a serious mental illness, including how they work with other agencies such as the police.

“And we’ve instructed trusts not to discharge people if they do not attend appointments.”

The report, which found Calocane’s risk “was not fully understood, managed, documented or communicated” should be a “watershed moment”, a mental health charity boss has said.

Marjorie Wallace, chief executive of mental health charity Sane, said there had been “one hundred such inquiries in the last 30 years”.

She added: “Today’s findings expose the same flaws and fault lines that have resulted in tragedies, yet little seems to have changed.”

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Technology

Toyota Motor posts nearly 28% drop in third-quarter operating profit, missing estimates

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Toyota Motor posts nearly 28% drop in third-quarter operating profit, missing estimates

FILE PHOTO: The logo of Toyota is pictured in Cuautitlan Izcalli, Mexico, January 30, 2025 

Raquel Cunha | Reuters

Japan’s Toyota Motor on Wednesday reported a second consecutive fall in quarterly profit, while announcing that it will set up a new company in China to make electric vehicles as it plays catch up with automakers focused on EVs. 

Here are Toyota’s results compared with estimates from analysts, compiled by LSEG.

  • Revenue: 12.39 trillion yen vs. 12.1 trillion yen
  • Operating profit: 1.22 trillion yen vs. 1.39 trillion yen

The world’s largest automaker by sales volume saw a nearly 28% year-on-year drop in operating profit during the quarter ended December.

The results mark Toyota’s second consecutive year over year decline in operating profit after the company saw profit fall 20% year over year in the previous quarter.

Net income attributable to the company, however, jumped to 2.19 trillion yen from 1.36 trillion yen a year ago.

The automaker’s consolidated vehicle sales for its financial third-quarter dropped to 2.44 million from 2.55 million units a year ago.

Still, Toyota maintained its full-year dividend forecast at 90 yen, compared with a dividend payout of 75 yen a year earlier.

Toyota said it will establish a wholly-owned company for the development and production of Lexus BEVs and batteries in Shanghai, China. The new company is expected to start production in 2027.

Toyota shares rose over 1% in Tokyo on Wednesday.

The company saw its operating profit drop in the key North America region by 113.7 billion yen in the December quarter, year on year, while it declined by over 46 billion yen in Asia. 

Toyota has been slower than competitors at embracing fully battery-powered electric vehicles, and instead has focused on hybrids, according to local reports.

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