XRP Skyrockets 40% As Speculation Of Ripple-SEC Settlement Gains Momentum

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,259,192,802,105	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,259,192,802,105

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	251.11	0.39%	64,336.00	64,332.34	64,332.35

Price Change

Price Change %

Current Price

Bid Price

Offer

251.11

0.39%

64,336.00

64,332.34

64,332.35

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,345.13	63,904.27	64,135.51	64,084.89	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,345.13

63,904.27

64,135.51

64,084.89

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:36:47	0.000031	64,336.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:36:47

0.000031

64,336.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
17,241,437.55	269.22	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

17,241,437.55

269.22

XRP Skyrockets 40% As Speculation Of Ripple-SEC Settlement Gains Momentum

17/07/2024 9:57pm

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

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