The anticipated moment has officially arrived, and the landmark case surrounding cryptocurrencies featuring Ripple
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The End of the Ripple Case
As of November 5, XRP Coin had already reflected this news in its pricing, soaring over three dollars, hitting its peak early. Today, we witnessed the announcement of this long-awaited conclusion. The ongoing battle between SEC and Ripple, which lasted over four years, has officially ended. The company’s Legal Director, Stuart Alderoty, shared the following statement:
“This should be my final update on SEC v Ripple… Last week, SEC agreed to unconditionally withdraw its appeal. @Ripple has now also agreed to forgo its cross-appeal. SEC will retain $50 million of the $125 million fine (currently held in cash-earning escrow) and the balance will be returned to Ripple. The agency will also request the court to lift the previously imposed standard injunction at the request of the SEC. All of this is subject to Commission voting, the preparation of final documents, and normal court processes. That’s all, folks!”
The billion-dollar fine has been rescinded, and the battle over the classification of XRP Coin as a security has ended, leaving no lingering legal concerns for XRP Coin.
On November 21, when Gensler officially announced his resignation, the XRP Coin rally began to gain momentum. The focus now shifts to maintaining the crucial $2.47 level.
