Traders Withdraw $160M as US Judge Rejects Ripple’s $50M SEC Settlement
The post Traders Withdraw $160M as US Judge Rejects Ripple’s $50M SEC Settlement appeared on BitcoinEthereumNews.com. XRP price dips 3% to $2.41 as a US District Judge Analisa Torres overrule Ripple $125 settlement fine against Ripple. With derivatives traders taking on a cautious stance, can XRP defend the $2 support in the days ahead? XRP Finds Support at $2.40 US Judge Upholds $125M Fine on Ripple Ripple (XRP) slipped by 3% on Friday, trading as low as $2.37 following a negative legal development that reignited concerns over regulatory uncertainty. The current bearish blow on XRP price comes after U.S. District Judge Analisa Torres rejected a proposed $50 million settlement between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), affirming a prior $125 million penalty and an injunction on future securities violations. XRP Price Action, May 16, Source: Coingecko Despite Ripple’s intention to appeal court’s decision to effectively raise the settlement fine from $50 million to $125 million, XRP traders showed negative reaction over the last 24 hours. Coingecko data shows that Ripple price is trading at $2.35, down 3% since the Court ruling hit the newsreels. Meanwhile, Bitcoin and Ethereum price posted mild gains on Friday, reclaiming key levels at $104,400 and $2,590 respectively at the time of writing. XRP Derivatives Market Reaction: $160M in Open Interest Pulled Amid Legal Uncertainty This renewed regulatory uncertainty surrounding the Ripple vs. SEC lawsuit has spread beyond the spot markets. XRP derivatives market trends observed on Friday shows that speculative traders flipped into a more cautious stance following the ruling. As seen in the Coinglass’ chart below, XRP treaders have responded with a 3.29% decline in Open Interest, representing over $160 million in capital withdrawal within 24 hours. This signals traders actively de-risking and exiting leveraged XRP positions, to mitigate risk amid regulatory uncertain. XRP Derivatives Market Data | Source: Coingecko Data from Binance and OKX shows a…
The post Traders Withdraw $160M as US Judge Rejects Ripple’s $50M SEC Settlement appeared on BitcoinEthereumNews.com.
XRP price dips 3% to $2.41 as a US District Judge Analisa Torres overrule Ripple $125 settlement fine against Ripple. With derivatives traders taking on a cautious stance, can XRP defend the $2 support in the days ahead? XRP Finds Support at $2.40 US Judge Upholds $125M Fine on Ripple Ripple (XRP) slipped by 3% on Friday, trading as low as $2.37 following a negative legal development that reignited concerns over regulatory uncertainty. The current bearish blow on XRP price comes after U.S. District Judge Analisa Torres rejected a proposed $50 million settlement between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), affirming a prior $125 million penalty and an injunction on future securities violations. XRP Price Action, May 16, Source: Coingecko Despite Ripple’s intention to appeal court’s decision to effectively raise the settlement fine from $50 million to $125 million, XRP traders showed negative reaction over the last 24 hours. Coingecko data shows that Ripple price is trading at $2.35, down 3% since the Court ruling hit the newsreels. Meanwhile, Bitcoin and Ethereum price posted mild gains on Friday, reclaiming key levels at $104,400 and $2,590 respectively at the time of writing. XRP Derivatives Market Reaction: $160M in Open Interest Pulled Amid Legal Uncertainty This renewed regulatory uncertainty surrounding the Ripple vs. SEC lawsuit has spread beyond the spot markets. XRP derivatives market trends observed on Friday shows that speculative traders flipped into a more cautious stance following the ruling. As seen in the Coinglass’ chart below, XRP treaders have responded with a 3.29% decline in Open Interest, representing over $160 million in capital withdrawal within 24 hours. This signals traders actively de-risking and exiting leveraged XRP positions, to mitigate risk amid regulatory uncertain. XRP Derivatives Market Data | Source: Coingecko Data from Binance and OKX shows a…
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