XRP price suddenly surges, is Ripple v. SEC ruling coming soon?
XRP rises amid speculations of imminent SEC case resolution against Ripple.
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XRP rises amid speculations of imminent SEC case resolution against Ripple.
The SEC has countered Ripple’s use of the Binance case in their legal battle, arguing that Ripple's selective interpretation is irrelevant. Disputes continue over fair notice and penalties, with Ripple suggesting a maximum of $10 million and the SEC advocating for $2 billion.
Ripple Labs strengthens its defence against the SEC by referencing a recent Binance ruling, criticising the SEC’s litigation approach, and seeking judicial clarity on XRP sales. They argue for reduced penalties due to the lack of prior regulatory clarity.
Ripple questioned the SEC's fine, arguing that it should be based on the Terraform Labs settlement and that the fine should not exceed $10 million. The SEC responded by demanding a settlement of $102.6 million.
Ripple announced yesterday (12th) the upcoming launch of the XRPL EVM Sidechain, using Axelar as the sole bridge for the sidechain. Additionally, they introduced a new stablecoin, RLUSD.
Ripple sells 150 million XRP from reserves, impacting market dynamics. Historical trends show correlation between sales and XRP price downturns. Investors urged to monitor Ripple's sell-offs for potential market impact.
Binance witnesses a mysterious withdrawal of 50 million XRP, part of a surge in whale activity. Unknown destination wallets hint at potential institutional involvement. Coincides with XRP's recent price rebound, suggesting strategic moves by large holders amid market changes.
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Whales move over 320 million XRP amid Ripple's SEC response. Despite this, XRP price falls 1.33% to $0.5189, reflecting broader market trends. On-chain data shows reduced futures market enthusiasm. Analysts remain bullish, expecting XRP to surpass $1 soon.
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