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XRP’s Low Volatility: A Function of Ripple’s Legal Battle With The SEC

Published 05/26/2024, 06:01 PM
Updated 05/26/2024, 06:45 PM
XRP’s Low Volatility: A Function of Ripple’s Legal Battle With The SEC
XRP/USD
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  • The lingering case between the SEC and Ripple is impacting on XRP’s price action.
  • The SEC is seeking a severe punishment for Ripple, proposing a $2 billion penalty.
  • XRP community is hopeful for a Ripple victory in the end.

The lingering case between the U.S. Securities and Exchange Commission (SEC) and Ripple is impacting XRP’s price action. The embattled altcoin has experienced an extended period of low volatility despite notable developments among other elements of the crypto industry.

XRPUSD Daily Chart on TradingView

XRP’s behavior reflects the keenness with which crypto users observe developments in the SEC vs Ripple case, with an eventual outcome that could determine the altcoin’s long-term trend. For context, the SEC is seeking severe punishment for Ripple, with plans to appeal an initial judgment that partially exonerated the fintech firm from breaking the commission’s rules.

In a March 2024 remedies-related opening brief, the SEC filed that Ripple continued to breach U.S. securities laws after a December 2020 complaint. Following the claim, the commission sought the court to cond…

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