In defiance of a general market downturn, Ripple (XRP) saw a 6% increase on July 12, reaching $0.47. This surge is concurrent with optimism surrounding a potential resolution in Ripple's ongoing lawsuit with the US Securities and Exchange Commission (SEC). Despite a 1.5% dip in the global market capitalization of the cryptocurrency sector, Ripple's price spiked, marking a significant recovery from the one-year low of $0.39 recorded last week.

The price revival comes amid increased expectations that the lengthy legal battle between Ripple and the SEC could soon draw to a close. Lawyers following the case have predicted a resolution as early as this month, with potential penalties for Ripple not exceeding $25 million. However, the complexity of the legal process and potential for appeals from both sides could prolong the lawsuit indefinitely.

A key issue in the lawsuit is the size of Ripple's potential fine. The SEC initially sought a $2 billion penalty, accusing Ripple of conducting an unregistered securities offering via XRP sales. Ripple, however, insists on a sum no larger than $10 million. The SEC has since proposed a $102.6 million penalty. The resolution of this lawsuit could have a significant impact on XRP's price.