Recently, XRP has been experiencing fluctuations amid the expected settlement between Ripple and the SEC concerning the cryptocurrency.
Current Situation with XRP
XRP (Ripple) is trading at $2.127, reflecting a 2.88% drop on the day amid broader market weakness. Over the past week, XRP has risen by 1.46%, yet it is still down 17.72% this month.
Settlement Prospects for Ripple and SEC
Ripple and the SEC are reportedly close to a settlement agreement involving a penalty of $125 million. This agreement is expected to be finalized in the coming days, and the outcome could significantly influence XRP’s short-term trajectory.
Market and Impact on XRP Price
Despite the current pullback, XRP maintains a positive year-to-date performance, with a 2.26% increase year-to-date and a remarkable 332.72% gain over the past year. Technical analysis indicates downside pressure, with support at $2.10 at risk.
XRP remains structurally bullish in the long term, yet short-term risks are increasing amid global market fluctuations.
