According to Attorney John Deaton, there is a possibility that Ripple may be required to pay a settlement amount of $20 million, which may potentially be perceived as a favorable outcome in their legal dispute with the Securities and Exchange Commission (SEC).
The price of
#XRPFuture had a notable increase of 23% in relation to Bitcoin over the course of the previous week. Additionally, Ripple, the digital currency associated with XRP , surpassed the $0.68 threshold, marking its first occurrence since the month of August.
#RippleXRP The potential for sustained growth of XRP is promising, since there has been a notable increase in the number of wallets holding between 100,000 and 1 billion XRP tokens, reaching its peak in 2023.
It is probable that
#Ripple will reach a resolution for its legal dispute with the Securities and Exchange Commission (SEC), a prominent financial regulatory body in the United States, for a sum of $20 million or below. The attorney representing the pro-XRP stance expressed their perspective on Ripple's legal triumph over the regulatory body in the context of a potential resolution.
At the time of writing, the price of XRP on the Binance platform is $0.6789. The alternative cryptocurrency has demonstrated a constant increase in value for its holders during the previous month.
The Daily Digest of Market Movers suggests that there is a high probability of XRP price increases continuing, with the potential for Ripple to reach a settlement in their ongoing case for a sum of $20 million or less.
The United States Securities and Exchange Commission (SEC) pursued a settlement of $770 million against Ripple, a company involved in cross-border payment settlements. Nevertheless, as per the perspective of attorney John Deaton, who supports Ripple, it is possible for the company to reach a settlement in the litigation for a sum of $20 million or below.
The conclusion of the SEC v. Ripple litigation is perceived by players in the cryptocurrency market as a potential equal victory for both parties. However, Deaton asserts that if a settlement of $20 million or less is reached, it is probable that Ripple will emerge as the predominant winner with a 90-10 advantage.
Judge Analisa Torres has granted an order in the SEC v. Ripple action, according to the joint request made by both parties to establish a briefing timetable for addressing the institutional sales of the asset. The Securities and Exchange Commission (SEC) and Ripple are anticipated to establish a mutually agreed-upon timetable for briefings, with the deadline for this schedule being November 9.
XRP wallets with a balance ranging from 100,000 to 1 billion XRP have exhibited a constant pattern of accumulating the cryptocurrency, even in the face of an upward trend in its price over the month of October. According to Santiment, a crypto tracker that analyzes on-chain data, these wallets own the most significant quantity of XRP tokens seen in the year 2023.
The graphic below illustrates that wallets with a maximum of 1 billion XRP tokens now possess 45.8% of the entire supply of this currency.
The acquisition of the asset by dealers was accompanied by a significant surge in XRP discourse, marking one of the most substantial increases since the middle of July 2023.
The price of XRP had a notable increase, surpassing $0.68, marking its highest value since August 2023.
According to a technical analysis, it is probable that the price of XRP will continue to increase.
The price of XRP is projected to see a further increase of 7% following its recent surge of 23% over the previous week. According to the provided chart, there is a potential for an upward movement in the price of XRP, with a projected increase from $0.6770 to a resistance level situated at the 61.8% Fibonacci retracement level, specifically at $0.7414. This development signifies a 7.57% increase in value for the cryptocurrency.
In the event that the XRP price effectively surpasses the resistance level, there is a high probability that it will sustain its upward momentum and go towards the lower limit of the Fair Value Gap, namely at $0.7530. Following the completion of the gap, it is probable that the price of XRP will see a corrective movement. If the bullish hypothesis is disproven and the price of XRP experiences a decline to the 38.2% Fibonacci retracement level, it is plausible that Ripple may reach a value of $0.6205.
$XRP