Ripple Ordered to Pay $125M in SEC Lawsuit: XRP Surges Over 20%
Ripple Labs' four-year-long battle with the US Securities and Exchange Commission (SEC) has finally come to an end, with Judge Torres ruling that Ripple must pay $125 million in civil penalties for violating securities laws. The penalty is significantly lower than the SEC's initial demand of $2 billion.
The final ruling comes after a crucial decision by Judge Torres last summer, which stated that XRP was not necessarily a security. This paved the way for today's decision and has removed regulatory uncertainty from Ripple's side.
XRP's price surged over 20% following the news, reaching $0.61. The cryptocurrency has also seen a significant increase in value since Monday, up over 40% from its lows around $0.43.
Regulatory clarity is expected to boost XRP's adoption prospects and could be a major turning point for Ripple Labs' global crypto business.