OpenSea Snubs Ripple in SEC Wells Notice Response: Is XRP Going To Crash?
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
The XRP price has remained steady despite an earlier dip, with a slight 0.18% lapse over the last 24 hours. However, growing unease has emerged after OpenSea excluded Ripple in its response to the SEC’s Wells Notice, sparking fears of a more significant downturn.
Today’s price movement hasn’t done much to lift XRP out of the slump it’s been in since last Thursday, down 4.68% – the likes of which have fueled the altcoin’s monthly decline, disrupting the stability observed in recent weeks.
This lackluster performance seems to have dampened trader enthusiasm, as trading volume has plummeted by 32.18% to $1.113 billion in the past 24 hours.
The NFT marketplace OpenSea has raised eyebrows after omitting Ripple from its response to the U.S. Securities and Exchange Commission’s (SEC) Wells Notice.
The notice, typically a forewarning of potential enforcement action, indicates the SEC’s intent to take legal steps against OpenSea—though such action is not guaranteed.
OpenSea openly criticized the SEC’s “sweeping move” against creators and artists, stating that it was “shocked” by the notice. In its defense, the marketplace mentioned several companies battling the SEC, including Coinbase, Uniswap, and Kraken.
However, Ripple, which achieved a significant victory against the regulator last July, was notably absent from OpenSea’s list—a snub that hasn’t gone unnoticed by some community members. One social media user wrote:
“Ripple has spent hundreds of millions of dollars fighting the SEC, and numerous companies have relied on the Ripple lawsuit in their
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