As Ripple’s legal battle with the SEC continues, public sentiment may be shifting against the regulator, causing frustrations within the crypto community. The SEC is seeking a $2 billion fine from Ripple, including compensatory damages, interest, and civil penalties. Ripple, on the other hand, is proposing a civil penalty not exceeding $10 million.

Ripple’s Chief Legal Officer, Stuart Alderoty, highlighted that the SEC’s demand is part of a larger pattern of actions against the crypto industry in the U.S. Ripple’s CEO, Brad Garlinghouse, warned of the long-term consequences of the SEC’s actions.

Social media users have expressed various opinions on the ongoing legal dispute, with many questioning the SEC’s actions and expressing dissatisfaction with its Chair, Gary Gensler. Despite the legal battles, Ripple has adapted its practices to align with court mandates and regulatory requirements.

In terms of XRP’s price analysis, after a recent market crash, XRP has shown signs of recovery, trading at $0.55 with a 30% rebound. While facing resistance levels, XRP could potentially reach $0.70 with key support levels at $0.52 and $0.50.

Market intelligence indicates that the number of wallets holding at least 1 million XRP tokens has been increasing, potentially signaling a buying opportunity. This trend could lead to a bullish momentum for XRP in the future.

As the legal battle unfolds, Ripple’s outcome could impact XRP’s value. Monitoring market trends and legal proceedings will be crucial for trading opportunities. Additionally, the recent Bitcoin halving event could further influence XRP’s price in the coming weeks. Stay informed to make informed decisions in the crypto market.

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