- Ripple is now ready to pay the SEC $125milion, the settlement has reached a significant milestone in this legal struggle.
- The XRP community seems to see the settlement in a positive light as they anticipate increased market stability and investor confidence.
- Today technical analysis shows both bearish and bullish signals for XRP depending on the trader’s sentiments.
Recently, the American blockchain firm Ripple Labs, linked with the XRP cryptocurrency, was commanded to pay $125 million to the SEC within a month. This is quite a significant occasion, as the Ripple company has been in a legal struggle with the SEC for a while now, and its case appeals to the community of those interested in cryptocurrencies. Ripple’s Senior Management Chief Legal Officer, Stuart Alderoty, has admitted to the settlement. This news has been welcomed by the XRP community, especially those who believe this settlement will bring much-needed transparency to the market.
XRP and the Market Effects
Ripple’s legal battle could affect Ripple and the crypto space. Many market analysts are currently identifying the XRP market price, with the possibility of increasing prices. The recent report by Waschen Guru went further to indicate that XRP could hit $525.55. With rising institutional demand and record transaction flow. However, the assumption of the given statement has its share of restrictions, the direction of which remains uncertain due to the instability of the cryptocurrency market.
The XRP community’s response to the settlement has been relatively positive. They believe that it will help provide a solution to the instability that has characterized the XRP market. The end of this case will likely clear a massive market overhang and encourage investors to reinvest.
Technical Indicators and parity with Ethereum
Technically, XRP’s recent price movement is somewhat ambiguous. While the cryptocurrency is now more volatile, most major technical signals point to a defensive approach. The MACD line is below the signal line, suggesting bearish momentum. The RSI is at 53 showing that it is neither overbought or oversold.
Source:Trading view
The legal win for Ripple has also reopened the debate on the regulation of other cryptocurrencies, especially Ethereum. Certain personalities within the Crypto ecosystem and in the empty-headed Ripple vs. SEC case, such as investor Scoot Milker, have asked why Ethereum has been treated differently from Ripple in the legal battles. Such an argument shows the continuous discussion of the cryptocurrency industry and its attempts to overcome intricate legal frameworks.
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