- A prominent XRP whale transferred 30 million tokens to an exchange.
- The digital asset lost crucial support at the $0.5 price level.
- The RSI indicator shows that the selling pressure is quite high in the market.
The protracted legal tussle between the Securities and Exchange Commission (SEC) and Ripple is nearing its final judgment as the two parties have submitted their briefs. Though the community anticipates a significant uptick in XRP’s price following the case settlement, the token is currently moving in a downward trend.
The legal issues surrounding Ripple and XRP can be traced back to the lawsuit filed by the SEC alleging the sale of unregistered securities. Following a series of developments, Judge Analisa Torres ruled XRP a non-security, securing a landmark victory for the crypto platform.
Nearing the lawsuit’s conclusion, Ripple and XRP filed their respective briefs in court. In the SEC’s response to the remedies brief, the regulators argued against Ripple’s statement regarding the certainty of XRP as a non-security. While the SEC demanded $2 billion in a settlement, Ripple claimed that the platform would not pay more than $10 million.
…The post Ripple’s XRP Experiences Dips Despite Legal Developments: An Analysis appeared first on Coin Edition.