New developments in the Ripple vs SEC case involve a request for the U.S. Securities and Exchange Commission to pause appeals. The litigation regarding XRP continues.
New SEC Filing
The U.S. Securities and Exchange Commission (SEC) has filed a status report requesting the appeals court to hold the appeals. This report was filed pursuant to a previous order to hold appeals until the parties reach a resolution in the XRP case.
Renewed Discussions on Penalties
On June 12, Ripple and the SEC renewed discussions regarding the dissolution of an injunction in the Final Judgment and the release of $50 million from $125,035,150 held in escrow accounts. Reasons for modifying the final judgment included a settlement, a shift in SEC's crypto policy, and the desire to avoid further litigation.
Expectations for XRP Price Movement
Changes in the court proceedings may lead to a rally in XRP's price and clarify the path for the SEC to approve the pending XRP ETF. Currently, XRP is trading at $2.24, marking about a 4% increase in the last 24 hours.
The Ripple vs SEC case continues to draw attention. Expectations surrounding the judge's decision may directly influence XRP's future dynamics and the SEC's cryptocurrency policies.
