$XRP Dips After U.S. Court Rejects Ripple-SEC Settlement Over Procedural Misstep ⚖️📉
In an unexpected twist, XRP plunged sharply following a U.S. federal court’s rejection of the proposed settlement between Ripple Labs and the SEC ❌. The court ruled the motion was procedurally improper, violating Rule 60 of the Federal Rules of Civil Procedure ⚠️.
The motion, submitted on May 8, sought to dissolve a prior injunction and slash Ripple’s $125 million penalty down to $50 million 💵. Both Ripple and the SEC had agreed on this revised deal in hopes of finally closing their protracted legal battle.
However, the court’s dismissal halts the settlement process — at least for now. Legal experts view this as a technical glitch, and expect the parties to refile correctly in the near future 📝.
Ripple’s Chief Legal Officer, Stuart Alderoty, reassured the community that this procedural hiccup doesn’t impact Ripple’s previous major victories, including the landmark 2023 ruling that XRP is not a security in programmatic sales ✅.
Still, the market reacted swiftly: XRP’s price dropped over 7%, while open interest fell 9.4% to $4.93 billion 📉. Over $21 million in long positions were liquidated, reflecting trader anxiety amid unresolved uncertainty.
Currently, XRP trades near $2.42 — a clear sign of the tension reverberating through the crypto markets 🌊.
Stay tuned — this legal saga is far from over ⚔️.
#xrp #RippleVsSEC #CryptoNews
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On Wednesday, the sun released two strong solar flares—an X2.7-class and an M5.3-class—that caused shortwave radio blackouts across five continents. The affected regions included parts of North America, South America, Southeast Asia, Africa, and the Middle East.
NASA’s Solar Dynamics Observatory recorded clear images of the eruptions. The most powerful flare hit at 4:25 a.m. ET, when the sun was above the Middle East, briefly interrupting high-frequency radio signals there.
Experts say this increase in solar activity is part of the sun's 11-year cycle, known as the solar maximum. More intense flares are expected soon, which could impact satellites, GPS systems, and even astronauts. However, these solar events might also bring more visible auroras around the world.
#SolarFlares #NASA #RadioBlackout #SpaceWeather #AuroraForecast $BTC $ETH $SOL