This latest development underscores the engagement and adoption of the XRPL in the last few months.
The surge in XRP options activity is undoubtedly a bullish signal for the cryptocurrency.
Recent developments in the SEC vs. Ripple case could also influence XRP’s price.
The SEC noted that the court has recognized Ripple’s “willingness to push the boundaries” of the summary judgment order, indicating a likelihood of future violations.
With the $125 million penalty, legal experts Attorney Bill Morgan and James Murphy also known as MetaLawMan, speculate that both sides will appeal.
Judge Analisa Torres stated that the case “does not involve allegations of fraud, misappropriation, or other more culpable conduct” by Ripple. The judge reduced penalty by 94% from the SEC’s demand of $2 billion.
As per the Kaiko data, the inability of top exchanges to allow XRP trading during the suit resulted in a strong surge in XRP trading interest that has shot up since the ruling.
The team revealed that the reset is meant to create a more reliable and functional testing ground for developers and users.
The recent price drop has been accompanied by a bearish crossover on the two-day MACD, indicating that sellers currently dominate the market.
The market is also reacting to ongoing speculation about a potential settlement between Ripple and the SEC.
Ripple will contribute $10 million to OpenEden’s TBILL tokens, which is part of their larger investment strategy focused on tokenized financial assets.
Drawing on this TVL metric, the price of XRP is also not looking good amid a general market decline. The token is currently trading at $0.6065.
The US SEC has toned down on crypto regulation thus giving the impression of an upcoming resolution with Ripple on XRP institutional sales.
Ripple’s common practice of issuing 1 billion XRP tokens on a monthly basis since 2017 provides a level of transparency and reliability to the XRP ecosystem.
This collaboration will further increase XRP Healthcare’s popularity and secure more engagement with its magazine at global events.