SEC vs. Ripple Case Officially Resolved: Ripple to Pay $50 Million Fine

The long-running legal battle between the SEC and Ripple has finally come to an end with Ripple agreeing to pay a $50 million fine. Last week, the SEC dropped its appeal, leading to a final resolution in the case. In addition to the fine, Ripple has also agreed to drop its cross-appeal, and the judge’s earlier injunction will be lifted.

Stuart Alderoty, Ripple’s Chief Legal Officer, provided an update on the situation, stating, “Last week, the SEC agreed to drop its appeal without conditions. Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple.” He added, “The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes.”

Despite the legal victory for Ripple, the XRP price has not seen a significant reaction to the news. XRP continues to trade below the $2.50 mark.

XRP Price Analysis: What’s Next for XRP?

Looking at XRP’s price action, there are signs of a larger bearish divergence on the 3-day time frame. The lack of strong momentum in either direction suggests that XRP is currently trading sideways.

According to analyst Josh of Crypto World, XRP is bouncing between support levels ranging from $2.24 to $2.30 and $1.95 to $2.05, with recent support found at $2.36. In terms of resistance, the price faces short-term resistance at $2.56, with higher resistance levels between $2.65 to $2.80, and around $3.

Crypto analyst Steph is Crypto shared a chart showing a bullish future for XRP, with a breakout from a multi-year bull flag pattern.

Currently, XRP’s price lacks clear direction and remains relatively neutral in the short term. It will be interesting to see how the resolution of the SEC vs. Ripple case impacts XRP’s price in the coming weeks.