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XRP News: SEC’s $770 Million Penalty Target and Dubai’s Healthcare Leap

By:
Bob Mason

As the November 9 deadline approaches, the SEC and Ripple maintain radio silence on settlement talks, while Ripple makes strides in the digital asset arena.

XRP News

In this article:

Key Insights:

  • XRP rallied 3.96% on Monday, ending the session at $0.5781.
  • On Monday, XRP Healthcare announced its entrance into Dubai and the Middle East.
  • The SEC v Ripple case remains the focal point on Tuesday as the November 9 Court deadline approaches.

The Monday Overview

On Monday, XRP rallied 3.96%. Following a 2.02% gain on Sunday, XRP ended the day at $0.5781.

No News is Good News?

On Monday, there were no SEC v Ripple case-related updates for the XRP community to consider. The lack of court activity left investors to speculate on the likely progress toward remedies vis-à-vis the remaining charges.

The SEC is eying a mouthwatering $770 million penalty for the illegal sales of XRP to institutional investors. However, recent chatter on X (formerly Twitter) highlighted questionable ethics practices.

Considering Ripple CEO Brad Garlinghouse’s reaction to a recent former SEC Chair Jay Clayton interview, negotiations could go down to the wire.

Focal points could include the Bill Hinman speech-related documents and SEC plans to appeal the Programmatic Sales ruling.

Investors may have discounted behind-the-scenes talks to settle. However, the Hinman docs could be persuasive enough to force the SEC into a settlement that prevents appeals on case-related rulings. While an unlikely scenario, Ripple could agree on a penalty closer to $770 million to allow the SEC to save face.

Settlement terms that prevent the SEC from appealing would be a boon for XRP and the broader market.

Judge Analisa Torres ordered both parties to propose a briefing schedule by November 9 concerning remedies for the remaining charges against Ripple. Since the Court order, there have been no updates from the SEC or Ripple on the status of settlement talks.

While the SEC v Ripple case remains the focal point, Ripple and XRP Ledger continues to break down barriers in the digital asset space.

XRP Healthcare Goes Dubai and the Middle East

On Monday, news hit the wires of XRP Healthcare following Ripple into Dubai and the Middle East.

XRP Healthcare is the first pharma and healthcare platform on the XRP Ledger. XRP Healthcare Founder Kain Roomes had this to say,

“Our entry into Dubai and the Middle East marks a significant step in our journey. This move combines healthcare innovation with the transformative potential of blockchain technology. The region’s forward-thinking approach and commitment to fostering innovation align perfectly with our vision of a healthier world powered by the convergence of healthcare and blockchain.”

XRP Healthcare harnesses the power of blockchain technology to transform healthcare services, delivering accessibility and efficiency to everyone. Significantly, XRP Healthcare has a 48-month roadmap, with an IPO or a conglomerate acquisition slated for 2027.

XRP Price Action

Weekly Chart sends bullish prices signals
XRPUSD 311023 Weekly Chart

Daily Chart

XRP sat above the 50-day and 200-day EMAs, sending bullish price signals.

An XRP break above the $0.5835 resistance level would give the bulls a run at the $0.6354 resistance level.

Sentiment toward the SEC v Ripple case and progress toward a crypto-spot ETF market remain focal points.

However, an XRP drop below the trend line would bring the $0.5470 support level into play.

The 70.79 14-day RSI reading shows XRP in overbought territory, suggesting a pickup in selling pressure.

XRP Daily Chart sends bullish price signals.
XRPUSD 311023 Daily Chart

4-Hourly Chart

In the 4-hourly Chart, XRP remains above the 50-day and 200-day EMAs, reaffirming bullish price signals.

An XRP break above the $0.5835 resistance level would support a return to $0.60.

However, a break below the trend line would bring the 50-day EMA and the $0.5470 support level into play.

The 4-hourly RSI, with a reading of 69.51, shows XRP on the border of overbought territory, suggesting intensifying selling pressure.

XRP 4-Hourly Chart affirms bullish price signals.
XRPUSD 311023 4-Hourly Chart

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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