{"id":2703,"date":"2024-09-02T07:35:13","date_gmt":"2024-09-02T07:35:13","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=2703"},"modified":"2024-09-02T07:35:13","modified_gmt":"2024-09-02T07:35:13","slug":"major-ripple-v-sec-lawsuit-development-coming-this-week-xrp-community-speculates","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=2703","title":{"rendered":"Major Ripple v. SEC Lawsuit Development Coming This Week? (XRP Community Speculates)"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

The Ripple v. SEC legal battle may be nearing a resolution after a court ordered the company to pay a $125 million fine, significantly less than what the regulator initially sought.
\nSpeculation of a settlement persists, but no official confirmation has been made. XRP\u2019s price keeps underperforming amid broader market declines.<\/p>\n

<\/a><\/p>\n

The Next Big News or Just Rumors?<\/h2>\n

The legal battle between Ripple and the US Securities and Exchange Commission (SEC), which has been ongoing for over three and a half years, has finally moved toward its closing chapter.<\/span><\/p>\n

Recall that the regulator sued the company in December 2020, accusing it of raising more than $1.3 billion through <\/span>the sale of<\/span> XRP in an unregistered securities offering. Last month, Judge Torres <\/span>ruled<\/span><\/a> that Ripple must pay a $125 million fine for violating <\/span>certain<\/span> securities laws. The sum is just a fraction of the $2 billion the SEC initially sought, which caused numerous industry participants to describe the decision as a <\/span>major<\/span> win for the firm.\u00a0<\/span><\/p>\n

Two of Ripple\u2019s top executives<\/span> \u2013 <\/span>CEO Brad Garlinghouse and CLO Stuart Alderoty<\/span> \u2013 <\/span>said<\/span> the company respects the court\u2019s ruling<\/span>, promising<\/span> to pay the penalty.<\/span>\u00a0<\/span><\/p>\n

Many members of the XRP community have recently <\/span>speculated<\/span><\/a> that the organization will settle with the SEC as soon as this week. X user JackTheRippler went even further, claiming that the company had already paid the fine.<\/span><\/p>\n

<\/a><\/p>\n

It is worth noting that both<\/span> Ripple and the SEC have remained silent on the matter, meaning the potential upcoming development could simply be speculation from the XRP Army, which might be eagerly <\/span>waiting for<\/span> the official end of the lawsuit.<\/span>\u00a0<\/span><\/p>\n

While paying the sum could be part of a settlement agreement, it would not necessarily mean the battle is over. Both parties <\/span>will have to<\/span> agree to terms that fully resolve the dispute. The SEC has the right to appeal the ruling until early October.\u00a0<\/span><\/p>\n

XRP Price Outlook<\/span><\/h2>\n

The valuation of Ripple\u2019s native token <\/span>has not been positively impacted by the aforementioned rumors<\/span>. It remains deep in the red on a weekly scale, currently trading just south of $0.55 (per <\/span>CoinGecko\u2019s<\/span> data).<\/span> Its poor performance coincides with a broader decline of the <\/span>entire<\/span> cryptocurrency market, with Bitcoin (BTC) plunging below $58,000 and Ethereum (ETH) losing the $2,500 resistance level.\u00a0<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

XRP\u2019s price usually experiences enhanced volatility after official announcements <\/span>related to<\/span> the Ripple v. SEC case. For instance, it <\/span>exploded<\/span><\/a> by 70% last summer when the company secured its first partial court victory. The price soared by double digits once again following the latest court ruling in August.<\/span><\/p>\n

The post Major Ripple v. SEC Lawsuit Development Coming This Week? (XRP Community Speculates)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The Ripple v. SEC legal battle may be nearing a resolution after a court ordered the company to pay a $125 million fine, significantly less than what the regulator initially sought. Speculation of a settlement persists, but no official confirmation has been made. XRP\u2019s price keeps underperforming amid broader market declines. The Next Big […]<\/p>\n","protected":false},"author":0,"featured_media":2704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2703"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2703"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2704"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}