XRP Token Increases After Report on Ripple's SEC Case Resolution
XRP's value has risen by 3% following indications that Ripple Labs' lengthy legal battle with the SEC could be resolving soon.
Overview
XRP’s value increased by 3% recently as a report suggested Ripple Labs’ legal conflict with the U.S. Securities and Exchange Commission (SEC) might soon conclude.
Key Details
- The legal dispute, which has been ongoing since December 2020, may be approaching a resolution, according to a report by Fox Business, citing credible sources.
- In 2023, a ruling by District Judge Analisa Torres mandated Ripple to pay a $125 million penalty for its institutional XRP sales, which were classified as unregistered securities offerings. However, the court refrained from imposing the nearly $2 billion fine that the SEC requested.
Current Insights
The ongoing legal struggle, which began with the SEC’s accusation that Ripple raised more than $1.3 billion through unregistered sales of XRP, may finally be nearing an end. Sources disclosed that Ripple’s legal representatives are seeking to renegotiate some terms of the pivotal 2023 ruling by Judge Torres.
Despite the SEC’s attempted repeal of this ruling shortly before the departure of former Chair Gary Gensler, the case continues to draw attention.
Conclusion
XRP’s recent increase in value reflects market optimism regarding the outcome of Ripple’s legal challenges.
