$XRP
💎XRP price exceeds $2.30 as whale wallets reach record highs🍕
Ripple XRP reached $2.40 and also moved above the 50-day simple moving average, indicating a return of buying momentum. However, analysts note that the token still faces resistance at $2.60.
Market conditions and whale activity affect the price of Ripple XRP.
Recently, data from analytics platform Glassnode clearly shows that the number of wallets holding 10,000 or more XRP tokens has surpassed all-time highs. Specifically, the number of addresses holding more than 10,000 tokens now exceeds 300,000. The surge in open interest and trading volume on XRP was observed after the U.S. Securities and Exchange Commission (SEC) filed a settlement agreement with Ripple Labs.
According to market data, open interest in Ripple increased by 14%, while trading volume increased by more than 100% in the space of 24 hours. This development comes after several years of litigation that has now reached its final stage with the filing of a formal court request by the Securities and Exchange Commission.
The Securities and Exchange Commission (SEC) has finalized the terms of the settlement with Ripple.
The U.S. Securities and Exchange Commission (SEC) announced it has entered into a settlement agreement with Ripple Labs, its CEO Brad Garlinghouse, and co-founder Chris Larsen. The agreement resolves a civil lawsuit filed by the agency in December 2020. The case involved allegations that Ripple conducted unregistered securities offerings through the sale of XRP.
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The proposed settlement stipulates that Ripple will pay $50 million of the previously proposed $125 million fine. The remaining $75 million will be returned to Ripple if the court agrees to lift an existing injunction. This injunction placed the fine funds in escrow following a final judgment in August 2024.
According to a litigation statement released by the SEC on May 8, the settlement is part of its updated approach to regulating the cryptocurrency industry.
The Commission stated that it seeks to end this particular enforcement action in order to better focus on broader policy developments in the sector. It emphasized that this decision does not reflect the Agency's view on similar ongoing or future issues.
Open interest and trading volume on Ripple XRP surged after the U.S. Securities and Exchange Commission (SEC) filed a settlement agreement with Ripple Labs.
According to market data, open interest in Ripple increased by 14%, while trading volume increased by more than 100% in the space of 24 hours. This development comes after several years of litigation that has now reached its final stage with the filing of a formal court request by the Securities and Exchange Commission.
The Securities and Exchange Commission (SEC) has finalized the terms of the settlement with Ripple.
The U.S. Securities and Exchange Commission (SEC) announced it has entered into a settlement agreement with Ripple Labs, its CEO Brad Garlinghouse, and co-founder Chris Larsen. The agreement resolves a civil lawsuit filed by the agency in December 2020. The case involved allegations that Ripple conducted unregistered securities offerings through the sale of XRP.
- Advertisement -
The proposed settlement stipulates that Ripple will pay $50 million of the previously proposed $125 million fine. The remaining $75 million will be returned to Ripple if the court agrees to lift an existing injunction. This injunction placed the fine funds in escrow following a final judgment in August 2024.
According to a litigation statement released by the SEC on May 8, the settlement is part of its updated approach to regulating the cryptocurrency industry.
The Commission stated that it seeks to end this particular enforcement action in order to better focus on broader policy developments in the sector. It emphasized that this decision does not reflect the Agency's view on similar ongoing or future issues.
During April, whales sold 370 million XRP, but large purchases resumed as the token fell to $2.07. These moves indicate that large investors see value in XRP at current levels, especially with the legal case resolved.
Ripple's price saw resistance near $2.29 in late April but has now surpassed $2.25, which was a key barrier. Analysts suggest that a sustained close above $2.60 could signal a change in trend. However, if Ripple drops below $2, the price could fall further toward the $1.72 to $1.61 range.
Ripple's recent business moves, such as its $1.22 billion purchase of Hidden Road and talks with USDC issuer Circle, indicate that the company is poised for growth now that the lawsuit is nearing its end. The company is expected to continue its strategic growth both in the US and internationally.
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