Ripple and the SEC continue their legal battle, with recent developments suggesting a possible resolution. CEO Brad Garlinghouse shared significant news about the situation.
Judge Torres' Final Ruling
Recently, Judge Torres rejected a joint request from the SEC and Ripple to approve a proposed settlement. The deal aimed to reduce Ripple's civil penalty to $50 million and lift the permanent injunction. This decision highlights ongoing challenges regarding the regulation of XRP.
SEC Vote Still Required
Former SEC official Marc Fagel noted that the agency still needs to vote formally to drop its appeal. The previous vote only supported the proposed agreement, not a full dismissal of the case. Now, the SEC needs to hold a separate vote to officially drop its appeal.
Implications of the Ruling for XRP
The price of XRP surged to $2.15 following Ripple's announcement. The case will close entirely once the SEC also drops its appeal. The key ruling from 2023 remains in effect, confirming that XRP sales on exchanges are not securities, providing clarity for retail traders.
The situation between Ripple and the SEC continues to evolve, and the court's decision could significantly impact the future of XRP. The SEC is expected to hold a vote soon to finalize the case.
