Recently, a significant event occurred involving XRP and Ripple. The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has come to an end. A federal judge ruled that Ripple must pay a $125 million fine for violations related to institutional sales of XRP. This fine is substantially lower than the $2 billion originally sought by the SEC (AMBCrypto) (FinanceFeeds).
Following the court’s decision, the price of XRP saw a notable surge, increasing by over 20% within an hour. Currently, XRP is trading at $0.6123, with a market capitalization exceeding $34 billion (AMBCrypto). Additionally, the trading volume of XRP has returned to pre-lawsuit levels, reflecting a significant rise in demand from U.S. traders (Crypto Basic).
Ripple’s CEO, Brad Garlinghouse, celebrated the court’s decision, stating that it was a victory for Ripple, the industry, and the rule of law. He noted that the court significantly reduced the SEC’s initial demands, which he views as an acknowledgment that the SEC overstepped (AMBCrypto).
