XRP
#XRP dropped 10% from Tuesday’s peak to two-month lows amid ongoing legal issues and the Middle East Crisis
The geopolitical tensions from the Israel-Iran conflict lead investors to avoid riskier assets. As broader cryptocurrency markets retreat due to high geopolitical uncertainty, the token encounters technical resistance at $2.33.
The price of XRP has fallen to its lowest level in over a week, hitting $2.1 on Sunday before marginally rebounding to $2.15. The altcoin remains under pressure from geopolitical tensions and technical selling.
Judge Torres rejected the parties’ request for an indicative ruling in May, claiming that “the Court would deny the parties’ motion as procedurally improper if jurisdiction were restored to this Court.” The parties jointly filed a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow. They aim to avoid pursuing the appeal, which is the main goal of this motion.
A final settlement approved by the court would eliminate any remaining legal uncertainties, further increasing the already strong demand for the cryptocurrency XRP. Ripple faced allegations of $1.33 billion in unregistered XRP sales in a lawsuit initially filed in December 2020.
$XRP
#IsraelIranConflict
#Ripple
#XRP dropped 10% from Tuesday’s peak to two-month lows amid ongoing legal issues and the Middle East Crisis
The geopolitical tensions from the Israel-Iran conflict lead investors to avoid riskier assets. As broader cryptocurrency markets retreat due to high geopolitical uncertainty, the token encounters technical resistance at $2.33.
The price of XRP has fallen to its lowest level in over a week, hitting $2.1 on Sunday before marginally rebounding to $2.15. The altcoin remains under pressure from geopolitical tensions and technical selling.
Judge Torres rejected the parties’ request for an indicative ruling in May, claiming that “the Court would deny the parties’ motion as procedurally improper if jurisdiction were restored to this Court.” The parties jointly filed a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow. They aim to avoid pursuing the appeal, which is the main goal of this motion.
A final settlement approved by the court would eliminate any remaining legal uncertainties, further increasing the already strong demand for the cryptocurrency XRP. Ripple faced allegations of $1.33 billion in unregistered XRP sales in a lawsuit initially filed in December 2020.
$XRP
#IsraelIranConflict
#Ripple
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