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XRP's Future Uncertain Amidst Legal Battle, Warns Fox Business Journalist

Mar 28, 2024

An article by Charles Gasparino, a well-known reporter for Fox Business, cautioned XRP holders about possible financial losses depending on how the situation with Ripple unfolds. Gasparino mentioned that Ripple, the company associated with the XRP token, is still entangled in a legal dispute with the U.S. Securities and Exchange Commission (SEC). He expressed doubt that the SEC will give up easily in its efforts to challenge the recent court ruling favoring Ripple in the case. The ruling found that Ripple violated security laws through its institutional sales, but not through secondary XRP sales, leading to a temporary price increase in July that was eventually lost. Despite a current market surge led by Bitcoin, XRP has struggled to regain its previous value. Gasparino also highlighted the SEC's ongoing push to classify Ethereum as a security, indicating that XRP might also face similar scrutiny and consequences. Along with appealing the recent ruling, Ripple is confronted with over $2 billion in penalties and fines from the SEC, adding to the uncertainty surrounding the token's future.

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