A final agreement has been reached between the SEC and Ripple, where Ripple agreed to pay a $50 million fine and drop its cross-appeal. Let's look at the details and market reactions.
Final Phase of the Case
Last week, the SEC vs. Ripple case officially concluded. The SEC dropped its appeal, and Ripple agreed to pay a $50 million fine. As a result, the earlier imposed injunction will be lifted.
Update from Ripple's Legal Officer
Ripple's Chief Legal Officer, Stuart Alderoty, shared the update that the SEC agreed to drop the appeal unconditionally, and Ripple dropped its cross-appeal. The SEC will keep $50 million from the total $125 million fine, with the remainder returned to Ripple. The court will also be asked to lift the earlier injunction.
XRP Price Analysis
Despite the case's positive outcome, the XRP price remains unchanged, staying below the $2.50 mark. Analyst Josh from Crypto World notes the price moving between support levels $2.24 - $2.30 and $1.95 - $2.05, with resistance at $2.56 and higher. Analyst Steph is Crypto predicts a potential future breakout.
The closure of the SEC vs. Ripple case brought positive developments, but the market situation and XRP price remain stable. Investors are watching for further news and market changes.
