Recently, XRP unpositioned squaring contracts (OI) have surged, indicating that investors expect its price to rise. CryptoQuant's analysis pointed out that after the price of XRP re-broke $0.50, unpositioned squaring contracts increased significantly, reflecting the market's close attention to Ripple's legal dispute with the Securities Exchange Commission (SEC).
Ripple's dispute with the SEC began in December 2020, when the SEC accused Ripple of conducting an unregistered securities offering through XRP. Last year, Judge Analisa Torres ruled that Ripple's public market sales were not securities offerings, but that its direct sales of XRP to institutional investors were indeed securities offerings.
At present, the focus of the dispute between the two sides is the amount of the fine. The SEC initially asked for a fine of 2 billion dollars, Ripple's lawyer suggested no more than 10 million dollars, and finally the SEC proposed 102.60 million dollars. With the increase of unpositioned squaring contracts and prices, the market volatility increases, and investors need to be cautious.
Ripple and SEC latest developments drive a surge in XRP unpositioned squaring contracts
2024-06-19 21:22:05
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