Ripple Escapes SEC Label, XRP Price Soars on $125M Fine

Ripple's long-awaited lawsuit with the SEC has finally reached its conclusion, and it's a relief for the crypto industry. A New York federal judge ordered Ripple to pay $125 million in civil penalties but made no indication that XRP would be labeled a security. The news sent shockwaves through the market, causing XRP's price to jump 26% in just minutes.

The lawsuit has been ongoing since December 2020, and it's clear that this ruling is a significant win for Ripple. CEO Brad Garlinghouse called it 'a victory for Ripple, the industry and the rule of law,' while co-founder Chris Larsen expressed hope that this would end the SEC's 'war on crypto.'

Not everyone was surprised by the outcome, however. Crypto lawyer Fred Rispoli noted that the $125 million fine is a relatively small price to pay for avoiding a security label. He tweeted that it's a 'HUGE win for Ripple' and that they made back the cost in minutes from XRP's price surge.