Ripple settles with SEC, pays $50 million fine, legal battle ends. XRP price up 9% in 7 days.
Ripple Labs has reached an agreement with the U.S. Securities and Exchange Commission (SEC) to end their long-standing legal battle. Reports indicate that Ripple has dropped its request for a reconsideration and will pay a reduced fine of $50 million. This agreement concludes a case that began in 2020. Despite significant legal costs, Ripple is now returning to a position similar to before the SEC complaint. This legal victory creates more transparency for XRP and could lead to its return to major exchanges. Stuart Alderoty, Ripple’s legal officer, expressed hope that this will be the final update on the SEC case and that it will be resolved soon. Currently, XRP is trading at $2.45, reflecting a 9% increase in the past seven days.
