Home » BREAKING: The End of the Ripple vs. SEC Saga Finally Cаme

BREAKING: The End of the Ripple vs. SEC Saga Finally Cаme

07.08.2024 23:18 1 min. read Alexander Stefanov
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BREAKING: The End of the Ripple vs. SEC Saga Finally Cаme

Ripple was penalized with a fine of only $125 million for their institutional sales, while cryptocurrency exchange transactions were declared lawful.

Judge Analysa Torres ruled that Ripple has to pay $125M in civil penalties and stop any further violations of securities laws, putting an end to the nearly four-year legal battle it fought with the U.S. regulator.

This fine is ideal for the fintech company, as the SEC had initially requested a penalty of $2 billion from Ripple.

The official court decision stated:

“The SEC’s motion for remedies and the entry of final judgment is GRANTED IN PART and DENIED IN PART. The Court shall enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150.”

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At the time of writing XRP is trading at $0.52, skyrocketing by more than 25% in less than 1 hour and has a 24-hour volume of around $1.68 billion. The altcoin’s market cap is currently $29.5 billion.

The outlook on XRP is looking bearish as per TradingView’s 1-day technical analysis. The summary and moving averages point to sell with 11 and 10 signals, respectively, while ooscillators remain “neutral” at 8.

This recent court ruling is a pivotal moment for Ripple and investors are feeling positive that such a favourable outcome could give XRP a significant price boost.

С над 8 години опит в индустрията на криптовалутите и блокчейн, Александър е опитен създател на съдържание и пазарен анализатор, посветен на това да направи дигиталните активи по-достъпни и разбираеми. Той е специалист в разбиването на сложни крипто тенденции, анализирането на пазарни движения и създаването на задълбочено съдържание, насочено към образованието както на новодошлите, така и на опитни инвеститори. Александър е изградил репутация на човек, който предоставя навременни и точни анализи, като същевременно следи отблизо регулаторните промени, нововъзникващите технологии и макроикономическите тенденции, които оформят бъдещето на дигиталните финанси. Работата му се корени в страстта към иновациите и твърдото убеждение, че широко разпространеното образование е ключ към ускоряване на глобалното приемане на криптовалутите.

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