Ripple’s legal battle with the SEC has taken a positive turn, with a significant reduction in penalties. The initial demand of $2 billion has been decreased to $102 million, much to the relief of Ripple’s Chief Legal Officer, Stuart Alderoty.
In the ongoing lawsuit between Ripple Labs and the SEC, Alderoty highlighted the shift in the SEC’s stance, dropping their excessive fine to a more reasonable amount. He also emphasized that Judge Torres had ruled that XRP is not a security.
Alderoty pointed out in a CNF YouTube video that there are no victims requiring compensation and noted Ripple’s resilience in the face of legal challenges. The potential settlement now hovers around the $100 million mark, providing some relief to Ripple.
In a tweet, Alderoty boldly stated that Ripple had defended itself against the SEC’s demands and clarified that XRP is not a security. With no victims to compensate, Ripple continues to thrive despite the legal battle.
The recent settlement announcement between the SEC and Terraform Labs, agreeing on a $4.47 billion settlement, has raised concerns about Terraform Labs’ ability to pay. The SEC insists that Ripple should pay at least $102.6 million, a far cry from the initial $2 billion demand.
Following the latest updates on the SEC vs. Ripple case, XRP has seen significant gains, outperforming other top coins. With XRP trading at $0.4982, the positive growth trend continues, with a 0.12% increase in the past day and a 2.51% increase in the past week. The overall XRP price chart reflects this positive momentum.