Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripple-braces-for-hefty-fine-consequences-for-xrp-coin" rel="noopener noreferrer nofollow">Ripple Braces for Hefty Fine: Consequences for XRP Coin</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/xrps-uneven-ride-in-the-surging-cryptocurrency-market" rel="noopener noreferrer nofollow">Ripple</a>, the blockchain-based digital payment network, finds itself in a precarious battle with the U.S. Securities and Exchange Commission (SEC) that may result in a staggering fine nearing $2 billion. The outcome of this legal tussle, expected to be revealed next month, could spell financial turmoil for both the company and its investors. Amidst these tensions, the behavior of significant <a href="https://en.bitcoinhaber.net/ripple-entangled-in-fresh-legal-dispute-over-xrp-token-sales" rel="noopener noreferrer nofollow">XRP</a> Coin holders, known as whales, remains under scrutiny.</p>
<h2 id="market-values-and-regulatory-risks">Market Values and Regulatory Risks</h2>
<p style="text-align: justify">XRP Coin, despite an increase in its circulating supply that once pushed its market value upwards, is now constrained by a price ceiling of around $1.35. The expanding supply has been identified as the central factor behind this stagnation. Ripple’s financial reserves, which stand at approximately $1 billion, fall short of the potential SEC fine, complicating the company’s financial strategy. Selling additional XRP appears necessary, but the impact of such sales on the market is uncertain. Furthermore, the legal classification of these sales as non-securities faces potential reversal, creating additional risk and dampening long-term investor confidence.</p>
<h2 id="observing-xrp-coin-whales">Observing XRP Coin Whales</h2>
<p style="text-align: justify">Recently, there has been a notable uptick in the number of XRP Coin whales, with wallets holding between 10 million to 100 million coins increasing in number. This surge, from 1,537 to 1,565 addresses, suggests growing investor interest at the current price level near $0.62. Despite the broader cryptocurrency market’s return to former price levels, XRP Coin has yet to cross back over the $1 mark.</p>
<p style="text-align: justify">Additionally, network activity on the XRP Coin platform has seen a significant peak, with daily active addresses hitting a high of 47,930 on March 9. The immediate effect saw the coin’s value soar from $0.63 to $0.72 in just 48 hours. Nevertheless, <a href="https://en.bitcoinhaber.net/cryptocurrency-market-rebounds-with-significant-gains-in-altcoins" rel="noopener noreferrer nofollow">technical analysis</a> suggests the potential for a decline to a support level of $0.58, which, if broken, could lead to further depreciation to $0.51.</p>
<p style="text-align: justify">The ongoing legal proceedings and market reactions underscore the precarious footing of Ripple and its native XRP Coin. As the community awaits the SEC’s final decision, the future financial landscape for XRP remains fraught with speculation and uncertainty.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ripple-braces-for-hefty-fine-consequences-for-xrp-coin" rel="noopener noreferrer nofollow">Ripple Braces for Hefty Fine: Consequences for XRP Coin</a></h5>

Ripple Braces for Hefty Fine: Consequences for XRP Coin

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