XRP falls to $0.54 as Ripple requests stay of $125 million compensation in final court verdict
Ripple requested a stay of the monetary element of the SEC vs. Ripple litigation judgment in a letter and gained SEC consent.
The parties agree to postpone the $125 million fine.
After the crypto market adjustment this week, XRP falls below $0.54.
The day saw Ripple (XRP) drop 1.81% to $0.54. On August 7, the payment remittance service requested a stay on its $125 million litigation settlement. The request was approved by the SEC.
The SEC vs. Ripple verdict was a partial win for both sides. In secondary market transactions on crypto exchange platforms, Judge Analisa Torres maintained the finding that XRP is not a securities.
Ripple filed a stay on its $125 million securities law penalties on August 7.
According to a September 4 court filing, the SEC approved the letter asking the fine deferment.
XRP traders await the regulator's appeal of the lawsuit's ultimate verdict.
Appealing might hurt XRP's legal clarity.
Technical analysis: XRP might lose around 5%.
Since July 13, when XRP reached $0.9380, it has fallen for months. XRP may lose 4.72% and sweep liquidity at $0.5188. This is the altcoin's major support level since it's the Fair Value Gap's bottom threshold.
Red histogram bars beneath the neutral line in the Moving Average Convergence Divergence (MACD) indicate negative momentum in the XRP price trend.
A daily candlestick closing above $0.5785 might disprove bearishness. XRP may aim psychological $0.60.
