$xrp $ripple #crypto
The Ripple vs. SEC case is at a critical juncture with several important developments. Ripple has been actively countering the SEC's hefty penalty proposal, which includes $876 million in disgorgement plus additional penalties, totaling approximately $1.95 billion. Ripple argues that any penalty should not exceed $10 million, highlighting the lack of fraud or deceit in their operations.
As of early May 2024, a key document from the SEC is expected, which will precede Judge Analisa Torres's decision on the penalties for Ripple's alleged securities violations. The outcome of this ruling is highly anticipated and could significantly impact XRP's market dynamics. Despite the ongoing legal battle, XRP has seen some positive price movements, reflecting market speculation and reactions to the case's developments.
Additionally, the crypto community is closely watching the SEC's next moves, particularly after the previous ruling in July 2023, which did not classify programmatic sales of XRP as securities transactions. This aspect is likely to be contested by the SEC, maintaining ongoing legal pressures on Ripple.