A Federal Judge Rejects Ripple-SEC Proposed $50 Million Settlement
A federal judge has rejected the Ripple-SEC proposed settlement, causing mixed reactions.
Ripple-SEC Settlement Stalled After Court Rejection
The Ripple-SEC case seemed to be advancing with a $50 million settlement agreement. However, the court has rejected the joint motion for an indicative ruling. According to defense lawyer James K. Filian’s post on X, the parties failed to show that exceptional circumstances justified modifying the judgment, meaning the original fine of $125 million remains.
After the news broke, XRP’s price dropped from around $2.15 to below $2.09, reflecting a decrease of about 3%. Though this reaction is mild by cryptocurrency standards, it could indicate some panic selling.
XRP Sentiment On Social Media Has Seen A Bullish Jump
Despite this, sentiment around XRP has turned bullish on social media. Analytics firm Santiment highlighted that social media users displayed a positive reaction to the Ripple-SEC case’s stagnation.
Their “Positive/Negative Sentiment” indicator shows a higher number of positive comments compared to negative ones across major social platforms. The indicator measures the balance of optimistic and pessimistic posts using machine learning.
The chart indicates that both Bitcoin and Ethereum have mild positive sentiment, while XRP has surged, reaching a Positive/Negative Sentiment value of 2.1—the highest in 17 days—signifying that bullish comments are now more than double the bearish ones.
Retail sentiment often acts as a contrarian signal; thus, extreme values might lead to price reversals. While investor concern appears low amidst the news, monitoring this sentiment indicator is advisable.
Featured image from Dall-E, Santiment.net, chart from TradingView.com
Comments (5)
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