Ripple Escapes Billion-Dollar Fine as Judge Orders $125M Penalty

A New York federal judge has ordered Ripple Labs to pay $125 million in civil penalties as part of the SEC's case against them. This ruling brings an end to a three-year-long securities lawsuit, which began in December 2020.

Ripple's bigwigs are calling this a 'win' for the industry, and it's easy to see why - XRP's price shot up by 26% recently, erasing most of its losses from the recent crypto slump. The token is currently trading at $0.59, having jumped to $0.63 when the news first broke.

Ripple's CEO, Brad Garlinghouse, said it's 'a victory for Ripple, the industry and the rule of law.' He also believes that this ruling puts an end to the SEC's beef with the XRP community.