As of August 2024, the XRP case involving Ripple and the SEC has reached a significant point. A federal judge, Analisa Torres, has imposed a penalty of $125 million on Ripple for selling unregistered securities to institutional investors. This fine is substantially less than the SEC's initial demand, which sought $2 billion in penalties [oai_citation:1,XRP News Today: Ripple Wins Big as Judge Slashes SEC’s $2B Lawsuit Penalty | FXEmpire](https://www.fxempire.com/forecasts/article/xrp-news-today-ripple-wins-big-as-judge-slashes-secs-2b-lawsuit-penalty-1452048) [oai_citation:2,SEC Can Try to Appeal Groundbreaking Ripple (XRP) Ruling, Judge Rules](https://www.coindesk.com/policy/2023/08/17/sec-can-argue-for-right-to-appeal-groundbreaking-xrp-ruling-in-ripple-case-judge-says/).
The judge's ruling marks a partial victory for Ripple, as the court denied the SEC's request for disgorgement of profits and prejudgment interest. Additionally, the court ruled that Ripple did not act recklessly or with fraudulent intent [oai_citation:3,XRP News Today: Ripple Wins Big as Judge Slashes SEC’s $2B Lawsuit Penalty | FXEmpire](https://www.fxempire.com/forecasts/article/xrp-news-today-ripple-wins-big-as-judge-slashes-secs-2b-lawsuit-penalty-1452048).
Ripple's CEO, Brad Garlinghouse, has expressed satisfaction with the outcome, emphasizing that the reduced penalty represents a significant win for Ripple and the cryptocurrency industry [oai_citation:4,XRP News Today: Ripple Wins Big as Judge Slashes SEC’s $2B Lawsuit Penalty | FXEmpire](https://www.fxempire.com/forecasts/article/xrp-news-today-ripple-wins-big-as-judge-slashes-secs-2b-lawsuit-penalty-1452048).
The SEC has the option to appeal the ruling. Judge Torres previously rejected an SEC motion for an interlocutory appeal, but with the final verdict now delivered, an appeal could be filed to contest certain aspects of the ruling [oai_citation:5,SEC Can Try to Appeal Groundbreaking Ripple (XRP) Ruling, Judge Rules](https://www.coindesk.com/policy/2023/08/17/sec-can-argue-for-right-to-appeal-groundbreaking-xrp-ruling-in-ripple-case-judge-says/).
This legal battle has been closely watched, as it sets a precedent for how cryptocurrencies are regulated in the United States and could influence future cases involving digital assets. XRP's price has reacted positively to the recent developments, showing increased investor confidence following the ruling [oai_citation:6,XRP News Today: Ripple Wins Big as Judge Slashes SEC’s $2B Lawsuit Penalty | FXEmpire](https://www.fxempire.com/forecasts/article/xrp-news-today-ripple-wins-big-as-judge-slashes-secs-2b-lawsuit-penalty-1452048).
