XRP Price Analysis as Ripple Battles SEC Over $125 Million Fine

The Ripple legal team has requested a stay on the monetary portion of the recent judgment against the company. The SEC has agreed to delay payment until after September 6th. Ripple proposes placing 111% of the $125 million judgment amount into a bank account until 30 days after the appeal time expires or any appeal is resolved.

This filing suggests that the SEC may appeal the judgment, which Ripple’s executives have previously celebrated as a victory. Judge Analisa Torres has not yet signed off on the request.

The SEC alleged that Ripple used XRP as an unregistered security. Judge Torres ruled that XRP was not a security regarding programmatic sales on exchanges.

XRP/USD Technical Analysis

The XRP price has been impacted by the recent market decline, driven by factors such as Nvidia’s antitrust investigation and disappointing macroeconomic data. XRP is currently trading below its 50-day moving average and is facing downward pressure.

XRP is currently trading below both the 200-day and 100-day moving averages, which is a strong bearish indicator. The RSI is trending downward, suggesting that selling pressure is increasing.

Support and Resistance Levels

• Immediate Support: The immediate support level for XRP is around $0.52.
• Potential Downside: If the bearish momentum continues, XRP could decline further to $0.50 or even lower.

Despite the overall bearish sentiment, XRP has seen a surge in derivatives trading volume, indicating increased interest. The trading volume on both spot and derivatives markets has risen significantly. The surge in derivatives trading volume could indicate increased interest in XRP, but it may also be driven by short-term speculative activity.