Is the Ripple vs. SEC legal case finally over or is there more to the story?

TL;DR

Ripple was ordered to pay a $125 million fine, far less than the SEC’s initial $2 billion demand, marking a major win for the company. The watchdog could appeal the decision within 60 days, but Ripple is likely to comply with the ruling.

Was this the end?

The legal battle between Ripple and the US Securities and Exchange Commission (SEC), which dates back to December 2020, reached a major milestone on August 7. As CryptoPotato reported, Judge Analisa Torres ruled that the company must pay a fine of $125 million, just 6% of the whopping $2 billion the regulator was initially seeking.

“The SEC’s request for a civil monetary penalty is granted in part and the Court will impose a penalty of $125,035,150. The SEC’s appeal motion and entry of final judgment is GRANTED IN PART and DENIED IN PART.

The Court will enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150,” the official filing says.

The decision became one of the hottest topics in the crypto space, with many industry participants describing it as a big win for Ripple that marked the official end of the case.

However, the lawsuit could drag on a bit longer due to potential appeals from both sides. U.S. Attorney Fred Rispoli (who previously predicted a settlement could be announced on July 31) said the deadline for filing an appeal is 60 days.

Jeremy Hogan, another U.S. attorney who has been deeply involved in the details of the case in recent years, said a Supreme Court decision remains a possible step, meaning the official end could still be pending. This is the highest court in the United States, where rulings are final and appeals are not an option.

Who is most likely to make a plea?

It’s safe to assume that Ripple will respect the court’s rules and not appeal, given the company’s CEO Brad Garlinghouse’s announcement. He noted that magistrates dismissed the SEC’s initial demand by about 94%, calling the development “a victory” for his entity.

“We respect the Court’s decision and we have clarity to continue growing our company,” he said.

The SEC seems more inclined to appeal. However, numerous X users pointed out that such a move would not be prudent due to the upcoming presidential election in the United States.

“If the SEC decides to appeal the Ripple case, it would have to appeal right before the US presidential election, which would be the worst possible time for the SEC and Gensler,” one person said.

It is worth mentioning that the possible victory of Donald Trump in the election can be interpreted as bad news for the chairman of the regulator, Gary Gensler. After all, the Republican nominee promised to remove Gensler from office immediately after entering the White House as the winner.

Crypto podcaster Tonny Edwards also chimed in, arguing that the SEC chairman has “lost the narrative” in the legal battle and is now feeling “political pressure.” Therefore, an appeal does not seem like a plausible option.

XRP Price Outlook

Several analysts have predicted over the past few months that a breakthrough decision on the Ripple vs. SEC front could lead to increased volatility and a rally in XRP prices.

The asset’s valuation is up around 20% on a 24-hour scale, currently worth around $0.62 (according to CoinGecko data).

XRP Price, Source: CoinGecko

It will be interesting to see if XRP will maintain the momentum in the following days and rise further. Those who want to explore some interesting forecasts can find more information here.

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