XRP Takes a Hit After SEC Settlement Rejection, But Social Media Turns Bullish Despite Price Drop 📉
A federal judge has rejected the proposed $50 million settlement between Ripple and the SEC, dealing a blow to the cryptocurrency. 🔴
Key Points:
- Settlement Rejection: The court rejected the joint motion for an indicative ruling, citing lack of exceptional circumstances to justify modifying the judgment. The original fine of $125 million still stands for Ripple.
- Price Reaction: XRP's price dropped around 3% to below $2.09 after the news, but the reaction has been relatively mild compared to the cryptocurrency sector's standards.
- Social Media Sentiment: Despite the price drop, social media sentiment around XRP has surprisingly turned bullish. According to Santiment, the Positive/Negative Sentiment indicator shows a jump in positive comments on major social media platforms.
What's Behind the Bullish Sentiment? 🤔
The reason behind the bullish sentiment is unclear, but it could indicate that investors are looking beyond the current news and focusing on the long-term potential of XRP. 📈
Current Price: XRP $2.183 (+4.45%)
