XRP Price Surges 17% After Ripple vs SEC Lawsuit Finally Ends
After nearly four years of battling the SEC, Ripple Labs received clarity on XRP sales. US District Judge Analisa Torres granted and denied parts of the SEC's motion, resulting in a $125 million civil penalty for Ripple and a cease-and-desist order.
The Ripple community celebrated the ruling, which reduced the SEC's demands by 94%. The decision also clarified Ripple's use of On-Demand Liquidity (ODL).
Following the ruling, XRP's price surged 17%, reaching about 60 cents. On-chain data shows increased accumulation by XRP whales, with large accounts holding over 7 billion coins.
The ruling marks a significant milestone for the crypto industry, potentially triggering further adoption of digital assets and web3 products.
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