Quick overview

Live XRP/USD Chart

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The dispute between Ripple and the SEC reached a turning point after years of litigation. The court has been asked to approve a jointly submitted settlement agreement. The SEC and Ripple have jointly requested that the $125 million fine, which was previously imposed and kept in escrow, be finally divided.

 

Consequently, Ripple would receive a refund of $75 million, with $50 million going to the SEC.  This agreement was submitted to the United States District Court for the Southern District of New York to prevent further legal action and a possible appeal under Judge Analisa Torres’ direction.

 The Ripple-SEC case was essentially settled for the crypto industry. The main controversy over whether XRP qualifies as a financial security was resolved. Negotiating the fine amount is now the main priority.

The recent spike in XRP’s price and volume presents a complex picture on CryptoQuant. Retail FOMO was evident in the rally initially. As prices rose, Active Addresses increased dramatically before rapidly declining as the market leveled off.

This reflects a classic pattern of individual investors swarming in and pulling out.
The Spot Average Order Size data indicated that average investors drove the price higher, reflecting smaller transaction sizes typical of the larger retail market. Nonetheless, the narrative isn’t solely focused on retail.

Larger players are providing a layer of support after the pump. At pre-hike levels, the funding rate in derivatives markets remains positive, indicating that leveraged positions continue to display bullish sentiment. Likewise, although Open Interest has decreased from its peak, it remains much higher than before the surge, suggesting ongoing speculative capital.

More importantly, Spot Average Order Size shows that whales are sustaining elevated prices