The SEC has demanded a $770 million settlement from Ripple over alleged violations of Federal Securities Laws related to the company's institutional sales of XRP. Ripple has responded with a report calling the SEC's lawsuit misguided and accusing them of seeking political power. The split judgement could lead to ambiguity regarding the status of XRP and other cryptocurrencies.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.that the regulator was demanding a substantial $770 million settlement from the company. The SEC has alleged violations of Federal Securities Laws related to Ripple’s institutional sales of XRP.
According to the firm, XRP is not just security in some corners but in all areas. It also accused the SEC of being a propaganda merchant. However, the split judgement could lead to an ambiguous understanding about the status of XRP and other cryptocurrencies.It would be difficult to predict the price action and trade outcomes of XRP. The situation is complicated as the lawsuit draws closer to different nuances and counter-arguments being issued, triggering markets.
Overall, the outcome of the SEC lawsuit against Ripple is uncertain, and it is difficult to predict exactly how it will affect XRP’s price in the short and long term. Investors should carefully consider the potential risks and uncertainties involved before making any investment decisions. In 2019, XRP’s price fluctuated between around $0.25 and $0.50 for much of the year before dropping to around $0.20 by the end of the year.
The aforementioned output shows XRP’s price action was largely determined by market sentiment and regulatory pressure. In addition, XRP’s highs and lows throughout the previous years could act as key support or resistance levels in the future.
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