Posted 4/1/2024, 4:04:19 PM
SEC Seeks Near $2B Fine From Ripple, Potentially Fueling XRP Selloff
- SEC proposes $1.95B fine for Ripple to be paid within 30 days of final court judgment
- Ripple holds over 40B XRP in escrow reserves, enough to cover the fine by selling 3.12B XRP
- Paying the fine could have negative effects on XRP price and the broader crypto market
- Technical analysis shows mixed signals - MACD suggests sell but price above key moving averages
- XRP ended March with a +7.27% monthly gain and +2.41% quarterly increase despite recent congested trading
