While the world is on another major conflict crisis in the Middle East, Ripple (XRP), the fourth largest cryptocurrency, plummeted 5% in the last 24 hours, dropping from $2.24 to $2.13.
According to CoinmarketCap, XRP’s market capitalization has also declined by 4.92%, leading to a decline in activity in the chain, and large-scale sales in the cryptocurrency market have also reduced XRP’s market capitalization.
On June 13, Israel launched the most deadly airstrikes at Iran’s nuclear sites and several major installation sites, with over 200 fighter jets. In the attack, Israeli forces eliminated several military commanders, including Hossein Salami, chief of Iran’s paramilitary revolutionary security, as well as Mohammad Bagyer, chief of Iran’s military.
After the attack, Iran’s highest leader, Ayatollah Ali Khamenei, vowed to retaliate.
In an interview, Cena Tossy, a senior fellow at the Centre for International Policy, said, “It appears that massive retaliation, including drone and missile strikes on Israeli territory, appears to be on the verge of imminent internal communities that are expanding robust internal groups to promote nationalist sentiment rather than crippling Iran’s military and nuclear capabilities, rather than promoting Israel’s escalation risks. Entanglement.”
SEC and Ripple Labs move to resolve disputes
There is a case in attack on Iran It had a negative impact on the global stock and cryptocurrency markets. Bitcoin (BTC), the largest cryptocurrency, fell below $104,000, down around 2% in a day. However, BTC is currently rebounding as it has surged above $105,000 at the time of writing.
yesterday, In its latest filing in the long-term legal battle between the US SEC and Ripple Labs, the parties jointly sought the Manhattan federal court to resolve the existing injunction and release the $125 million civil penalty currently held in escrow.
According to a new court filing, the SEC and Ripple proposed a settlement in which $50 million is paid to the regulator, with the remaining funds being returned to the blockchain company.
If this occurs, XRP could benefit from this news as it boosts investors’ trust and provides regulatory clarity.