Ripple Settles SEC Lawsuit, Retains $75 Million of Fine
Ripple Labs has resolved its legal dispute with the SEC over the sale of XRP, which began in December 2020. The SEC accused Ripple of raising $1.3 billion through unregistered securities.
Key outcomes include:
- A US District Judge ruled XRP sales to retail investors did not violate securities laws.
- The sale of $728 million in XRP to institutional investors violated regulations, resulting in a $125 million fine.
- Ripple recovered $75 million of the fine after the SEC withdrew its appeal, leaving a remaining balance of $50 million.
- This resolution reflects the SEC's shift toward clarity in regulatory practices under Acting Chairman Mark T. Uyeda.
Legal actions against digital asset firms have also decreased under the current administration.
XRP Price Analysis
XRP is currently priced at $2.42, experiencing a decline of 0.52% in the last 24 hours. Key price points include:
- Upper Bollinger Band resistance at $2.5770
- Lower Bollinger Band support at $2.0926
- Relative Strength Index (RSI) at 50.96 indicates neutral momentum
- 20-Day EMA support level being tested at $2.3934
Future Price Speculation
Speculation suggests XRP could reach $1,452.81 based on a bull flag pattern identified in long-term charts, indicating potential for significant price movement following consolidation.