📉 $XRP Down 3% After SEC Settlement Stalls, But Social Media Turns Bullish

A federal judge has rejected Ripple and the SEC’s proposed $50 million settlement, but social media sentiment around XRP has turned bullish anyway.

🔸 Ripple-SEC Settlement Stalled After Court Rejection

The Ripple-SEC case seemed to be moving forward after both parties agreed on a reduced $50 million settlement, but the joint motion for an indicative ruling has now been rejected in court.

According to the filing shared by defense lawyer James K. Filian in an X post, the two haven’t “come close” to showing exceptional circumstances outweighing public interest or the administration of justice that would justify modifying the judgment. This means that the original fine of $125 million still stands for Ripple.

Following the news, XRP has taken a bearish hit to its price, as the below chart displays.

The asset was trading around $2.15 at the time the news broke out, but it has since fallen below $2.09, implying a decrease of around 3%. Naturally, this reaction is quite mild by the cryptocurrency sector’s standards, but could still suggest some panic selling.

Sentiment among the retail crowd, however, has seen a surprising jump, as per social media data.

🔸 XRP Sentiment On Social Media Has Seen A Bullish Jump

In a new post on X, the analytics firm Santiment has talked about how the social media users have responded to news of the Ripple-SEC case stalling. The indicator shared by Santiment is the “Positive/Negative Sentiment,” gauging the ratio between positive and negative comments involving a given coin on the major social media platforms.

The indicator separates between positive and negative posts/threads/messages on the platforms using a machine-learning model and determines how the counts of the two compare.

#XRP #Ripple