The legal battle between Ripple and the US Securities and Exchange Commission (SEC) has recently reached a major milestone. Judge Analisa Torres ruled that Ripple must pay a $125 million fine, a significant reduction from the SEC’s initial demand of $2 billion. This decision has been seen as a victory for Ripple in the ongoing case.
While many in the crypto space are viewing this ruling as the end of the case, there is still a possibility of further appeals from both Ripple and the SEC. The deadline to file an appeal is 60 days, and there is speculation that the case could potentially end up in the Supreme Court.
Ripple’s CEO, Brad Garlinghouse, has indicated that the company is likely to comply with the court’s decision and not appeal. He sees the reduced fine as a victory for Ripple and a chance for the company to continue growing.
On the other hand, the SEC may be more inclined to appeal the decision. However, there are concerns that appealing right before the US presidential election could have negative implications for the regulator and its Chairman, Gary Gensler. Some believe that Gensler has lost the narrative in the legal battle and is feeling political pressure, making an appeal less likely.
In terms of XRP price outlook, analysts have predicted that a favorable ruling in the Ripple v SEC case could lead to increased volatility and a price rally for XRP. Currently, XRP is up around 20% on a 24-hour scale, trading at approximately $0.62. It will be interesting to see how the price of XRP performs in the coming days and whether it will continue to rise.
Overall, while the recent ruling in the Ripple v SEC case has been viewed as a significant victory for Ripple, the possibility of further legal proceedings and appeals means that the outcome of the case is still uncertain. Investors and industry observers will be closely monitoring any developments in this ongoing legal saga.