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XRP stuck below $0.50 as Ripple CLO says SEC has abandoned demand for $2 billion fine

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Ripple News

Cryptocurrencies,SEO

XRP struggles to make a comeback above sticky resistance at $0.50 on Monday as traders continue to assess the legal skirmishes between blockchain firm Ripple and the US Securities and Exchange Commission (SEC).

Ripple Chief Legal Officer says that SEC seems to have abandoned its “absurd demand” of a $2 billion penalty. The SEC’s latest reply to the judge suggests a fine of around $100 million, above the $10 million ceiling that Ripple considers fair. XRP trades broadly steady on Monday, facing sticky resistance at $0.50. XRP struggles to make a comeback above sticky resistance at $0.

#Ripple #XRP @SECGov has responded to @Ripple’s letter regarding the TerraForm Labs Consent Judgment. pic.twitter.com/VvGSJffwa8 — James K. Filan June 14, 2024 Technical analysis: XRP struggles to break sticky resistance at $0.50 Ripple wiped out nearly 2% of its value last week while attempting to recover from its decline on Monday. The altcoin hasn’t been able to break past resistance at $0.50, failing to close above this level nearly all days during last week. XRP trades at $0.

 

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