XRP to $1.375 : Amid Ripple-SEC Settlement Speculation
#Xrpđ„đ„ #XRPPredictions #BullRunAhead #BTCâ $XRP
SEC's recent filing opposing Ripple's proposal of a $10 million settlement for alleged securities law violations.
Ripple initially referenced the $420 million penalty against Terraform Labs (TFL) to argue for a reduced levy compared to the SECâs demand for a $2 billion penalty. However, in a letter to District Judge Analisa Torres, the SEC argued that Rippleâs case differs significantly from TFLâs. The regulator noted that TFL is bankrupt and has agreed to significant investor reimbursements, conditions not applicable to Ripple.
The SEC also corrected Rippleâs interpretation of TFLâs penalty, stating the actual ratio was 11.7% of TFLâs $3.5 billion gross profit, not 1.27% as Ripple claimed. The SEC seeks $876.3 million in disgorgement from Ripple, and applying the 11.7% ratio suggests a civil penalty of about $102.6 million. This led to speculation within the XRP community that the SEC might settle for $100 million, though this is uncertain.
XRP Army Targeting $1.375 XRP
Believing the SEC is now requesting $100 million from Ripple, some XRP community members anticipate an imminent settlement. The founder of Humanitarian Trust Compliance Services speculated that a final settlement could be between $50 million and $62.5 million, predicting XRP would trade at $1.375 following the settlement. Currently, XRP is valued at $0.492.
Despite these speculations, Rippleâs Chief Legal Officer Stuart Alderoty's interpretation of the SEC dropping its $2 billion request is contested. Community members like Moon Lambo argue that the SECâs language does not support a reduced settlement figure. SEC lawyer Marc Fagel confirmed this, emphasizing that claims of a reduced settlement are unfounded and a misinterpretation of the SECâs position.
In summary, while the XRP community is hopeful for a settlement leading to a price surge, the actual outcome remains uncertain as legal interpretations and speculations continue to unfold.