The price of XRP plummeted 5% just hours after Judge Analisa Torres denied both parties in the Ripple-SEC lawsuit their request for an indicative ruling. Market sentiment for XRP turned bearish as the settlement in the SEC lawsuit could be delayed further.
Ripple’s Chief Legal Officer, Stuart Alderoty, stated that the company would work with the SEC to address Judge Torres’ concerns. However, this move did little to calm investors, who witnessed a significant correction in XRP prices. Following a strong rejection at $2.6 earlier this week, XRP corrected nearly 10% from its peak of $2.59, reaching around $2.35 on Friday morning before rebounding slightly.
Market Analysis
- Analysts warn that if prices break below $2.4, it could lead to a sharp decline into lower support levels of around $1.79 to $0.19.
- Short-term traders were caught off guard when prices dropped sharply last night, resulting in over $22 million worth of long positions being liquidated.
- Open interest has decreased by six percent since Tuesday evening, currently standing at just over five billion dollars. However, there isn’t much room left for further liquidations compared to other assets within the dataset.
Judge’s Ruling
Judge Analisa Torres emphasized that Ripple and the SEC must meet procedural requirements to modify her earlier ruling regarding the cessation of sales and payment processing services offered through exchanges such as Coinbase.
Potential Resolution
A potential resolution involving a limited remand was outlined by Bill Morgan, which would allow both sides to agree upon specific terms before filing motions to seek court approval for those agreements. This approach would give each party some degree of control over the outcome without having to go through the full appeals process again.
Stuart Alderoty assured that Ripple and the SEC will work collaboratively moving forward to address any remaining issues brought forth during the trial phase. Despite previous disagreements, the points mentioned remain contentious and unresolved, pending further action.
Next Steps
A motion filed jointly by the defendants requests a modification order to dismiss the cross-appeal, as it does not affect the merits of the case itself but rather seeks clarification on the rules governing the procedures followed throughout the entire proceeding. This could potentially lead toward an eventual conclusion once all necessary steps are completed successfully, without additional delays caused by unforeseen circumstances.
I’m Mark W. Lamplugh Jr., a visionary Chief Executive Officer, Board Member, and best-selling Author with over 25 years of experience driving significant revenue growth and optimizing ROI across the healthcare, wellness, and media industries. Throughout my career, I’ve consistently transformed underperforming operations into thriving ventures by building top-tier marketing organizations, implementing data-driven strategies, and leading transformational change. My empathetic, collaborative, and adaptable leadership style has allowed me to cultivate inclusive cultures of innovation, develop and retain top talent, and forge strong partnerships that fuel organizational success.
Adept in executive leadership, strategic business planning, and brand and marketing strategy, I have a proven track record of boosting annual revenues—achieving up to $1.3B in oncology over three years and generating $360M in mental health initiatives. My approach combines strategic vision with hands-on execution, as evidenced by my success in launching innovative facilities, expanding services for addiction and mental health care, and enhancing organizational brand visibility. As author of “The AI Marketing Playbook,” I contribute thought leadership on the integration of artificial intelligence in marketing, a role that showcases my commitment to staying at the forefront of industry innovation.
I also bring my insights and expertise to a broad audience as the host of cable tv & global streaming of “Street Level Marketing Show,” while my writing has been featured in major publications such as Entrepreneur, Business.com, The Startup, and Kivo Daily. Whether I’m implementing targeted digital marketing campaigns that engage over a million individuals monthly or overseeing multi-million dollar budgets to maximize return on investment, I approach every challenge with a combination of strategic planning, creative problem-solving, and unwavering dedication. Above all, I am passionate about expanding access to high-quality addiction and mental health care through innovative solutions that drive both patient outcomes and organizational growth.
Mark serves on the board of One World for Life, National Fire Heritage Center, and the Institute for Responder Wellness.
Mark (https://marklamplugh.com) is one of the top marketing executives in the United States and has revolutionized how companies reach potential clients thru influence, SEO, social, PR, and traditional marketing. His expertise in Marketing, Social Media, Digital Marketing, and Public Relations has generated millions of dollars in revenue for several national companies. Mark documents many of his techniques in his book “Beginners Guide to Social & Digital Media.” and “Marketing Playbook for Social Media,” which was named the top 100 social media marketing books of all time by Book Authority. He’s also a professional advocate for the behavioral and mental health of firefighters and other first responders. Marks articles have been published in Better Marketing, Startup Magazine, Social Media Today, Kivo Daily, Biz Catalyst 360, Fire Engineering, Firehouse Magazine, and several others.
One of his companies, niches, are marketing products and services to the public safety industry and their employees, specifically mental & behavioral health services. He can be reached for comment at ceo@influencemediasolutions.com
23,000 #1 Connections, 40,000,000 US B2B Contacts and 300,000,000 B2b/B2C email contacts as well as 1,000,000+ monthly social media reach. https://marklamplugh.com
