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How high can XRP go after Ripple’s court success? What are the most optimistic predictions for XRP’s price over the next few years? What happened? After years of legal battles and heated debates, the SEC vs. Ripple (XRP) case has finally reached its dramatic conclusion, with Ripple emerging victorious.  On August 7, US federal judge Analisa Torres ordered Ripple Labs to pay a $125 million penalty for selling its XRP token without proper registration—a mere fraction of the nearly $2 billion the SEC originally sought, which included $876.3 million in disgorgement, $198.2 million in prejudgment interest, and $876.3 million in civil penalties. The Ripple vs. SEC saga began back in 2020 when the SEC accused Ripple of raising funds through unregistered sales of XRP, arguing that the digital token was a security.  The lawsuit, filed in December 2020, plunged Ripple into a fierce legal struggle that has captivated the crypto world ever since. Judge Torres’s ruling on August 7 followed a key decision in July 2023, where she found that Ripple had violated federal securities laws through direct sales of XRP to institutional clients.  However, she also ruled that Ripple’s sales of XRP to retail clients through exchanges did not violate any securities laws. Importantly, the August 7 ruling clarified that Ripple’s actions did not involve fraud, which drastically influenced the final penalty. In response to the favorable ruling, XRP’s price skyrocketed, forming what traders call a ‘god candle’ as it surged from around $0.50 before the ruling to a high of $0.6408. As of August 8, XRP is trading at approximately $0.61, reflecting a remarkable 20% increase in just 24 hours. XRP 6-months price chart | Source: TradingView Ripple’s reaction Ripple’s victory in the landmark case against the SEC has not only been a turning point for the company…

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Filed under: News - @ August 10, 2024 4:12 am