Ripple Faces $125M Penalty as SEC Lawsuit Nears Conclusion

the U.S. Securities and Exchange Commission (SEC) has imposed a $125 million penalty on Ripple Labs, marking a crucial phase in the ongoing legal battle over the sale of unregistered securities. The SEC, under the leadership of outgoing Chairman Gary Gensler, is set to file its appeals opening brief by January 15, 2025.

Ripple’s Legal Strategy and Community Response

Pro-XRP attorney Jeremy Hogan has urged the community to remain optimistic despite the SEC’s timely filing. “Don’t be surprised when the brief is filed and don’t be dismayed,”

Hogan noted, emphasizing that the legal strategy under Gensler and litigation counsel Jorge Tenreiro has shown little indication of change. Hogan speculated that a resolution under the incoming SEC Chair, Paul Atkins, is possible.

Ripple vs. SEC: Penalty and Court Deadlines

The Ripple lawsuit gained momentum when Judge Torres ordered Ripple to pay a $125 million penalty in connection with alleged securities law violations.

The SEC previously received an extension to file its brief but was warned that no further delays would be permitted. Former SEC lawyer Marc Fagel acknowledged the filing’s necessity, stating, “The SEC staff must comply with court orders regardless of leadership changes”.

Settlement Likelihood Grows Amid XRP Market Impact

Legal experts suggest the lawsuit may conclude by April or May 2025, citing the potential for a settlement. A dismissal of the appeal would affirm Judge Torres’ ruling and clear Ripple of further liability beyond the $125 million fine.

The XRP community remains divided on the likelihood of an appeal versus a settlement, with some believing that the Trump administration’s influence and Paul Atkins’ history of less aggressive enforcement might favor an out-of-court resolution., reports FXLeaders.

Ripple’s Future and Market Reactions

As the clock ticks down, all eyes are on the SEC’s next move and its implications for the broader cryptocurrency market.

Ripple’s legal team appears prepared to defend its position, even as the SEC transitions to new leadership. The ongoing case continues to impact XRP prices, with market participants closely monitoring developments.

Share on Facebook

Post on X

Related Stories:

Twist in XRP Lawsuit: SEC Mulls Appeal as Ripple Celebrates Partial Win Ripple vs SEC Lawsuit Latest: A Pro-Ripple Lawyer Reveals Shocking Facts Ripple Fined $125 Million for Improper XRP Sales SEC to Drop Ripple-XRP Lawsuit? Former Regulator Predicts Major Shift Ripple CEO and General Counsel Slam SEC in Twitter Rant Amid Ongoing Lawsuit Ripple’s Legal Saga Nears End: SEC Calls for Final Judgment Ripple CLO Stuart Alderoty Discloses Details of Potential SEC Settlement Offer in XRP Lawsuit XRP Price Set to Skyrocket to $10 if Ripple Wins Lawsuit – Lawyer Asserts