XRP Price to Rally to $1?
  • Ripple is countering the SEC’s $2 billion fine with a $10 million settlement, underscoring its credibility and resilience.
  • Due to ongoing legal issues, the price of XRP could rise to $1 as it gains momentum amid regulatory news.

Ripple took a bold stance against the SEC by rejecting a $2 billion fine and countering with a $10 million settlement. The San Francisco-based company cited pre-indictment proceeds from institutional sales and made its proposed fines consistent with those imposed in similar cases within the digital asset sector. I support.

Today, I shared in a tweet that this development is a pivotal moment in Ripple’s ongoing legal battle with the SEC stemming from charges of selling XRP as an unregistered security. Ripple’s strong position demonstrates the company’s determination to overcome regulatory hurdles while ensuring its presence in the market.

Ripple’s legal claims and strategic defense

As detailed in the CNF YouTube video, the SEC initially sought $876 million in disgorgement payments, which amounted to civil penalties, and approximately $200 million in prejudgment interest, for a total of approximately $1.95 billion. However, Ripple counters that an appropriate civil penalty should not exceed $10 million, which is consistent with the company’s institutional sales revenue and for digital assets where no material misconduct has occurred. It argued that the fines reflected similar cases.

The dispute dates back to a 2020 SEC lawsuit against Ripple for offering XRP as an unregistered security. However, a subsequent judicial ruling clarified that Ripple’s open market sale was not an offering of securities, while its direct sale to institutional investors was.

Will XRP price rise to $1?

Additionally, CNF reported that Ripple is preparing to contest a potentially large SEC lawsuit. Optimism surrounding this legal friction contributed to the sharp rise in XRP price, which broke through a major resistance level. According to CoinShares, XRP has recently attracted $1.3 million in inflowsa notable departure from broader crypto market trends, which saw outflows of more than $200 million for the second consecutive week.

This series of legal and market moves highlights Ripple’s tactical navigation through regulatory challenges and could potentially trigger a significant price increase for XRP. These moves suggest that XRP price could quickly rise to $0.7 and prepare to rise to $1 in the near future. The trading prices for XRP are as follows: $0.536increased 7.53% Over the past week. Please see the price list below.

Recommended for you:

Related Article


Leave a Comment