XRP Legal Battle Taking Final Turn: US SEC vs Ripple Case Update 🚀
After more than three years of legal dispute over XRP sales between the United States Securities and Exchange Commission (SEC) and Ripple Labs, the case has reached the final phase. Following the notable change in cryptocurrency oversight by the United States government amid approaching elections, the U.S. SEC has advocated for a settlement with Ripple. Moreover, the US SEC has finalized a settlement with Terraform Labs and Do Kwon for violating securities laws.
Settlement Deal on the Horizon
According to a court document filed on June 14 by the US SEC to the presiding judge Analisa Torres, a settlement deal is inevitable and on the horizon. Late last week, Ripple filed a notice of supplemental authority regarding the Terraform Labs consent judgment, which resulted in a $4.47 billion settlement.
- Ripple aiming for a $10 million fine settlement
- US SEC pushing for a $102.6 million fine
- Previously demanded $2 billion dropped
- Ripple thriving post-court ruling on XRP security status
- US SEC adjusts fine from $2 billion to $102 million
Impact on XRP Price Action 📈
The recent legal developments in the SEC vs Ripple case have helped the XRP price establish a robust support level of around 50 cents. The large-cap altcoin, with a fully diluted valuation of about $49 billion, is well bolstered by notable Ripple-backed developments and acquisitions. Notably, Ripple has continued to advocate for a $10 million fine settlement and not the hefty fine proposed by the US SEC.
Amid these legal battles, Ripple has managed to announce some key strategic moves that have impacted its price action:
- Ripple acquires Standard Custody
- Introduction of a web3 fund for South Korean and Japanese developers
- Unveiling of an EVM-compatible sidechain on the XRPL
- Anticipated launch of fiat-backed stablecoins
Future of XRP 🚀
The future of XRP hinges on the outcome of the legal battles between Ripple and the US SEC. The community and investors eagerly await the settlement deal and its repercussions on the XRP price and market dynamics. Despite the challenges, Ripple’s strategic acquisitions and developments continue to bolster the XRP ecosystem and its position in the crypto market.
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