Ripple vs. SEC ends with $125M fine! – Here’s how XRP prices reacted

There were still some lingering issues between Ripple and the SEC after Judge Analisa Torres’ 2023 ruling. The SEC wasn’t happy with the parts that didn’t go their way, and Ripple wasn’t thrilled about that pesky $125 million penalty and the ban on big players selling XRP.

In June, things got spicy when Judge Torres rejected a joint request from both parties for an “indicative ruling.” This ruling could’ve been their golden ticket to an easy settlement. But alas, no dice.

They tried to dissolve the ban and maybe knock that hefty penalty down a notch. A last-ditch effort to avoid a full-blown appeal process. But Judge Torres wasn’t having it. She slammed the door on that idea, forcing both sides into more tedious legal battles.

And now, the latest development: Ripple and the SEC both decided to drop their appeals. So, the original penalty stays, and the injunction remains intact. Oh, and don’t forget, those escrowed funds are about to be handed over to the U.S. Treasury. Closing the books on this one, folks.

After a fiery surge, XRP has been settling around $3.34. Not quite the meteoric rise many predicted, but hey, it’s holding steady.

The 9 and 21-period EMAs are still showing a bullish trend, like a weak-hearted bull trying to make a charge, but the RSI at 71 tells us it’s slightly overheated. Tread carefully, folks!

The MACD is still smiling, but those fading histogram bars tell a tale of slowing momentum. A little less oomph than before. But don’t count the bulls out just yet.

Looks like the bulls are still holding the reins, but their drive has cooled off – probably because the recent surge was just too much fun to resist cashing in on. If enough buyers keep coming back above the $3.30 level, XRP could just take another swing upwards. But again, don’t bet the farm on it.