The legal battle between Ripple and the SEC has concluded. Ripple agreed to a fine, but the market's reaction was unexpected among XRP holders.
Conclusion of Legal Battle
The case between Ripple Labs and the SEC concluded after the SEC officially dropped its appeal, and Ripple agreed to pay a $50 million fine. The court's injunction against Ripple was lifted.
Market Reaction
Despite the favorable outcome, XRP's price hardly moved. After the news, the price briefly spiked to $2.60 but then subsided. XRP holders voiced their concerns on forums and social media.
Call for Official Confirmation
The community demands an official SEC statement about the case closure. Ripple CEO Brad Garlinghouse mentioned at the Digital Assets Summit that the dismissal is valid even without an official statement. However, many await confirmation from the SEC.
Despite the resolution of the SEC case, the market remains in a holding pattern, waiting for official confirmation from the Commission. XRP holders remain cautious.
