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The anticipated moment has officially arrived, and the landmark case surrounding cryptocurrencies featuring Ripple 
$2 has come to a close. Speculation about this development had been rampant leading up to April, and the official announcement of the cancellation has now been made. Ripple’s Chief Legal Officer has outlined the terms of this resolution.
The End of the Ripple Case
As of November 5, XRP Coin had already reflected this news in its pricing, soaring over three dollars, hitting its peak early. Today, we witnessed the announcement of this long-awaited conclusion. The ongoing battle between SEC and Ripple, which lasted over four years, has officially ended. The company’s Legal Director, Stuart Alderoty, shared the following statement:
“This should be my final update on SEC v Ripple… Last week, SEC agreed to unconditionally withdraw its appeal. @Ripple has now also agreed to forgo its cross-appeal. SEC will retain $50 million of the $125 million fine (currently held in cash-earning escrow) and the balance will be returned to Ripple. The agency will also request the court to lift the previously imposed standard injunction at the request of the SEC. All of this is subject to Commission voting, the preparation of final documents, and normal court processes.
That’s all, folks!”
The billion-dollar fine has been rescinded, and the battle over the classification of XRP Coin as a security has ended, leaving no lingering legal concerns for XRP Coin.
On November 21, when Gensler officially announced his resignation, the XRP Coin rally began to gain momentum. The focus now shifts to maintaining the crucial $2.47 level.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
