Ripple-SEC Settlement Rejected, XRP Price Falls 3% Despite Bullish Sentiment

A federal judge has rejected the $50 million settlement proposal between Ripple and the SEC, maintaining the original fine of $125 million. The court did not find sufficient justification for modifying the judgment.

Key Developments

The Ripple-SEC agreement was stalled after the court's rejection.
Ripple's defense indicated that exceptional circumstances were not demonstrated.
XRP price fell from approximately $2.15 to below $2.09, marking a 3% decrease.

Despite the price drop, social media sentiment around XRP has become bullish. According to analytics firm Santiment, the Positive/Negative Sentiment ratio significantly increased to 2.1, indicating more than double the bullish comments compared to bearish ones.

Sentiment Analysis

XRP sentiment is at its highest level in 17 days.
Bitcoin and Ethereum show only slight positive sentiment advantages.
Retail sentiment may act as a contrarian signal, suggesting potential price reversals.

This shift in sentiment suggests that retail investors remain optimistic despite the legal developments surrounding Ripple.