The post XRP Surges After Ripple’s Major Legal Victory Against SEC appeared on BitcoinEthereumNews.com.

The prolonged legal battle between Ripple Labs and the U.S. SEC reached another significant milestone on Wednesday. The legal proceedings concluded with Ripple Labs facing a much lower penalty than the one initially sought by the SEC. Judge Analisa Torres of the Southern District of New York (SDNY) ruled for Ripple Labs to pay just over $125 million instead of the SEC’s proposed $2 billion penalty, resulting in a positive market reaction. Ripple scores a legal victory against SEC, influencing XRP prices significantly. Discover how the recent court ruling affects Ripple’s future and market sentiment. Ripple’s Noteworthy Legal Triumph Against the SEC In a significant legal victory, Ripple Labs successfully defended itself against the U.S. Securities and Exchange Commission (SEC). The SEC initially demanded a $2 billion penalty, but Judge Analisa Torres of the Southern District of New York ruled for a substantially lower fine of just over $125 million. This outcome comes as a relief to Ripple and marks another positive result in a series of favorable legal decisions. Market Response and Ripple’s Rise in Value The court ruling had an immediate and favorable impact on Ripple’s market position. Following the legal decision, XRP experienced a sharp increase, leading the 24-hour gains among all assets with a 24% rise by Thursday afternoon on the U.S. East Coast. This uptrend highlights the market’s confidence in Ripple’s resilience and future prospects despite ongoing legal challenges. Speculations and Future Outlook for Ripple Ripple’s victory in court has led to renewed optimism about the company’s future. CEO Brad Garlinghouse hailed the decision as a substantial win and noted that the SEC’s inflated claims were effectively countered. Additionally, Ripple’s future plans include a potential Initial Public Offering (IPO) by 2025 and discussions around launching a Ripple ETF. Such developments could broaden Ripple’s market reach…

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Filed under: News - @ August 11, 2024 3:04 pm