In the ongoing lawsuit between the Securities Commission of the United States and Ripple Labs (XRP), the SEC is seeking a final verdict on the alleged violation of securities laws by Ripple. This legal battle is not unique, as many other crypto companies have faced similar legal actions from the SEC. The SEC is demanding permanent injunctions, disgorgement, prejudgment interest, and civil penalties totaling around $2 billion.

Critics, including market analysts and Ripple executives, have condemned the SEC’s actions. The SEC has filed its public version of the remedies brief, focusing on allegations related to violations of the Securities Act of 1933 and unregistered offerings. The SEC's demands include a hefty penalty of $876,308,712 for disgorgement, an additional $198,150,940 for prejudgment interest, and civil penalties amounting to $876,308,712.

Speculations about a potential market downturn if the SEC's judgment is in favor of the lawsuit are circulating, particularly due to the significant market capitalization of XRP, which ranks as the sixth largest among all cryptocurrencies.

XRP Price Summary

As of the latest data, XRP was trading at $0.6478, marking a 2.30% increase. Over the past 52 weeks, XRP's price has grown by 41.22%. The market capitalization of XRP has increased by $378.701 million, bringing the total cap to $35.516 billion. In the last six months, the market cap surged by 33.60%, and over 52 weeks, it grew by 54.12%.

XRP's highest trading price in the past year was $0.8875, while its lowest was $0.413. The all-time high for XRP was $3.84 on January 4, 2018.

Market Update

In the last 48 hours, the market experienced significant growth in the cap and price of leading tokens and coins, with a 4.83% increase in market cap, totaling $2.68 trillion. The fear and greed index on CoinMarketCap revealed extreme greed in the market, scoring an 83.

Bitcoin saw a 5.75% increase in the past 24 hours, surpassing the $70,000 resistance level. Its price and market cap both grew by 5.90%, and the intraday trading volume spiked by 49.44%.

Among the intraday gainers, Dogwifhat (WIF) and Internet Computer (ICP) showed significant price increases of 14.57% and 14.38%, respectively. On the contrary, Toncoin (TON) experienced a 1.76% decrease in its trading price, making it the top loser.

Various coins and tokens like Pepe (PEPE), Devai (0XDEV), Ondo (ONDO), EGO (EGO), Book of Meme (BOME), Bitcoin (BTC), Civic (CVC), Venom (VENOM), and DAO Maker (DAO) are currently trending in the market. Additionally, Fandomdao (FAND), TG20 TGram (TGRAM), Cat in a Dogs World (MEW), SEKAI GLORY (GLORY), Resistance Dog (REDO), Vendetta (VDT), and Gaimin (GMRX) are among the cryptocurrencies listed in the market.