After years of legal fights, Ripple Labs and the US Securities and Exchange Commission have officially resolved their dispute by withdrawing all pending appeals. This last move confirms a $125M penalty and an injunction on certain institutional XRP sales, following Judge Analisa Torres' landmark verdict in 2023.
The judgment clarified that open market XRP sales do not require registration; however, institutional sales must. Both sides attempted but failed to change the punishment and injunction, effectively bringing the appeals process to a close. Ripple's escrowed monies will shortly be delivered to the US Treasury, bringing the case to a financial close.
The market saw XRP rise on the announcement, but it is presently consolidating at about $3.34. Technical indicators indicate positive trends. However, momentum appears to be diminishing, most likely owing to profit-taking.
If XRP remains above the $3.30 support level, it may make another upward move soon. This legal conclusion removes uncertainty, potentially improving XRP's standing in the marketplace.
