XRP Skyrockets 40% As Speculation Of Ripple-SEC Settlement Gains Momentum
2024年7月18日 - 5:57AM
NEWSBTC
XRP, at the center of a high-stakes legal battle with significant
implications for the industry, has taken the lead in the recent
surge in crypto prices amid growing speculation that Ripple, the
blockchain payments company behind XRP, may be close to a
settlement with US regulators. Ripple-SEC Legal Dispute Continues
Over the past week, XRP has experienced a substantial rally of over
40%, reaching a current trading price of $0.6161. This marks the
highest level XRP has reached since April, while the overall market
has seen a more modest increase of around 12% during the same
period. The legal dispute stems from a lawsuit filed by the US
Securities and Exchange Commission (SEC) against Ripple Labs in
2020. The SEC alleged that Ripple violated its rules by conducting
an “unregistered securities offering” through the sale of
XRP. In a blow to the SEC, a US District Judge ruled in July
last year that the sale of XRP to retail investors on exchanges did
not constitute investment contracts. Related Reading: Silicon
Valley Using Trump For A Bitcoin Pump Play? Mark Cuban Weighs In
Adding fuel to the speculation is a “closed meeting” on the SEC’s
website scheduled for July 18.. Although an SEC spokesperson
declined to comment, investors and traders interpret this as a
potential development in the status of XRP. However, former
SEC lawyer Marc Fagel dismissed rumors of an imminent settlement
between the SEC and Ripple, stating that closed-door meetings of
this nature have been routine since the lawsuit was filed.
Pro-XRP lawyer Fred Rispoli also weighed in, expressing skepticism
about the likelihood of a pre-judgment settlement. While
negotiations on outstanding arguments are possible, Rispoli added
that a resolution before the court’s ruling seems unlikely.
Rispoli speculates that Judge Analisa Torres will order a penalty
of less than $25 million and no disgorgement against Ripple,
contrasting with the SEC’s request for a $102.6 million fine.
Ripple, on the other hand, has proposed a penalty of $10 million.
XRP Price Breakout, Analyst Anticipates Tremendous Gains With the
XRP price hitting a 4-month high after a sharp downtrend, crypto
analyst Dark Defender has stated that the token could be on its way
to explosive gains if one key level is breached during the current
rally. In a social media post, Dark Defender highlighted that XRP
has entered the qualification mode by rebounding from the last
“frontier” at $0.3917. According to Dark Defender, if XRP
manages to rise above $0.6649, it could embark on a journey towards
the $18 to $36 price range, meaning a 2810% jump to the former and
a potential 5740% rise to the latter. Related Reading: $174 In
Sight: Analyst Projects Major Surge For Solana (SOL) In addition,
the token has crossed its 200-day exponential moving average (EMA),
marked by the yellow line on the daily XRP/USD chart, which was
previously a notable resistance wall. If consolidation above
its 200-day EMA occurs, further price appreciation could be seen as
trading above it has always resulted in notable gains for the XRP
price, as seen in the chart below. Featured image from
DALL-E, chart from TradingView.com
Solana (COIN:SOLUSD)
過去 株価チャート
から 8 2024 まで 9 2024
Solana (COIN:SOLUSD)
過去 株価チャート
から 9 2023 まで 9 2024