๐ XRP price surpasses $2.30 as whale wallets reach record levels ๐๐๐
Ripple XRP reached a level of $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 the $2.60 level.
Market conditions and whale activity affect the price of Ripple XRP.
Recently, data from the analytics platform Glassnode clearly shows that the number of wallets holding 10,000 XRP tokens or more has surpassed all-time highs. Specifically, the number of addresses holding more than 10,000 tokens currently exceeds 300,000. An increase in open interest and trading volume for XRP was observed after the U.S. Securities and Exchange Commission (SEC) submitted a settlement agreement with Ripple Labs.
According to market data, open interest in Ripple increased by 14%, while trading volume grew by over 100% within 24 hours. This development comes after several years of litigation that has now reached its final stage with a formal request to the court from the Securities and Exchange Commission.
The Securities and Exchange Commission ends settlement terms with Ripple.
The U.S. Securities and Exchange Commission (SEC) announced that it has submitted a settlement agreement with Ripple Labs and its CEO Brad Garlinghouse and co-founder Chris Larsen. The agreement resolves the civil case brought by the agency in December 2020. The case included allegations that Ripple conducted unregistered securities offerings by selling XRP.
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The proposed settlement stipulates that Ripple will pay $50 million out of the previously proposed $125 million fine. The remaining amount of $75 million will be returned to Ripple if the court agrees to lift an existing injunction. This injunction had placed the fine money in an escrow account following a final ruling in August 2024.
According to the litigation statement issued by the SEC on May 8, the settlement is part of its updated approach to regulating the cryptocurrency industry.
The committee stated that it seeks to terminate this enforcement action specifically to better focus on broader policy developments in the sector. It confirmed that this decision does not reflect the agency's view on similar ongoing or future issues.
An increase in open interest and trading volume for XRP was observed after the U.S. Securities and Exchange Commission (SEC) submitted a settlement agreement with Ripple Labs.
According to market data, open interest in Ripple increased by 14%, while trading volume grew by over 100% within 24 hours. This development comes after several years of litigation that has now reached its final stage with a formal request to the court from the Securities and Exchange Commission.
The Securities and Exchange Commission ends settlement terms with Ripple.
The U.S. Securities and Exchange Commission (SEC) announced that it has submitted a settlement agreement with Ripple Labs and its CEO Brad Garlinghouse and co-founder Chris Larsen. The agreement resolves the civil case brought by the agency in December 2020. The case included allegations that Ripple conducted unregistered securities offerings by selling XRP.
- Advertisement -
The proposed settlement stipulates that Ripple will pay $50 million out of the previously proposed $125 million fine. The remaining amount of $75 million will be returned to Ripple if the court agrees to lift an existing injunction. This injunction had placed the fine money in an escrow account following a final ruling in August 2024.
According to the litigation statement issued by the SEC on May 8, the settlement is part of its updated approach to regulating the cryptocurrency industry.
The committee stated that it seeks to terminate this enforcement action specifically to better focus on broader policy developments in the sector. It confirmed that this decision does not reflect the agency's view on similar ongoing or future issues.
During April, whales sold 370 million XRP; however, large purchases resumed as the token dipped to around $2.07. These movements indicate that large investors see value in XRP at current levels, especially with the legal case being resolved.
Ripple's price faced resistance near $2.29 in late April but has now surpassed $2.25, which was a key barrier. Analysts indicate that continued closing above the $2.60 level could signal a change in trend. However, if Ripple drops below $2, the price may decline further toward the range of $1.72 to $1.61.
Recent business moves by Ripple, such as the purchase of Hidden Road for $1.22 billion and talks with USDC issuer Circle, indicate that the company is preparing for growth now that the lawsuit is nearing its end. The company is expected to continue its strategic growth at both the U.S. and international levels.
