Today (August 8), the focus of the Crypto community is on the latest developments related to the lawsuit between Ripple (XRP) & SEC (US Securities & Exchange Commission).$XRP
In the latest court filing, Judge Analisa Torres issued a judgment requiring Ripple to pay a fine of $125 million - the amount that the company is expected to pay to the SEC within 30 days.
However, this fine is 94% lower than the figure that the SEC initially proposed of more than $2 billion. The case has officially closed after 4 years of lingering, when the SEC accused Ripple of conducting an illegal offering of XRP securities in 2020 & profiting $1.3 billion.
Another important thing is that the judge affirmed that XRP is not a security. This will not affect Rippleâs ability to continue selling XRP to institutional investors, which they have been doing since July of last year
Rippleâs token price has increased by nearly 20% following the court rulings in the lawsuit and a surge in trading volume. XRP has even risen to the top of Binanceâs top gainers, somewhat reflecting the impact of the legal news on the project$XRP
