Crypto Community Celebrates As Ripple Triumphs Over SEC
Judge Analysa Torres has ordered Ripple to pay $125 million in civil penalties and cease any further violations of securities laws, concluding a nearly four-year legal struggle with the U.S. Securities And Exchange Commission (SEC). This penalty is favorable for Ripple, given that the SEC had originally sought a $2 billion fine.
The War Is Over
As per the official verdict, the SEC motioning for remedies and the entry of final judgment is granted in part and denied in part. The Court shall issue a final judgment restraining Ripple in terms of facing additional securities law violations and imposing a civil penalty of $125,035,150.
As of the latest update, XRP is priced at $0.6, experiencing a surge of over 17% in a day, with a 24-hour trading volume around $1.68 billion. The market capitalization of the altcoin is currently $29.5 billion.
Identifying Key Triggers For Recovery
According to TradingView and their 1-day technical analysis, the outlook for XRP appears bearish despite the aforementioned verdict. The summary and moving averages indicate a sell recommendation with 11 and 10 signals respectively, while oscillators remain neutral with a reading of 8.
This recent court ruling marks a crucial development for Ripple, and investors are optimistic that the favorable resolution could lead to a significant increase in the price of XRP. In any case, the crypto community can finally breathe a sigh of relief as the multi-year war between the SEC and Ripple finally comes to a close.
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