The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) that began at the end of 2020 continues to shake the crypto world! After the massive $125 million fine, the final consequences for XRP and the entire altcoin ecosystem are about to take shape. But beware! A final appeal is still on the table and it could change everything!
๐ฅ What Does the SEC Say? The SEC claims that Ripple launched XRP as an unregistered security. This claim caused US-based exchanges to quickly delist XRP and its value to drop by 50%. The SEC is not content with just XRP; similar allegations are on the agenda for many cryptocurrencies!
โ๏ธ Rippleโs Response and Latest Situation
Ripple is facing one of the biggest lawsuits ever filed by the SEC. While similar lawsuits with platforms like Telegram have been resolved quickly, Rippleโs fight continues unabated. Judge Torres reduced the SECโs multi-billion dollar fine by 94% to $125 million, but the SEC is not satisfied yet and is preparing to try its luck again with the appeals process ending in October 2024!
โณ The Last Twist and Possible Scenarios Ripple has shown that it is prepared for the appeal process by putting $125 million in escrow. If the SEC appeals, the case could drag on for months, which could lead to sudden fluctuations in the XRP price. However, if Ripple manages to survive the lawsuit, the company will focus on expanding XRPโs usage and increasing its value. However, the increasing supply could make it difficult for XRP to reach $3.
๐ Attention! October 7th is the critical date that will determine the fate of XRP! If the SEC appeals, this legal battle could drag on for months and cause major fluctuations in the crypto market.
๐ Is Victory Near for Ripple?
At the end of this long process, Ripple can see the light at the end of the tunnel. The crypto world is holding its breath, waiting for these critical developments!
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