Ripple agrees to drop cross-appeal against SEC

Ripple has agreed to drop its cross-appeal against the U.S. Securities and Exchange Commission (SEC), marking a significant step towards concluding the long-standing legal dispute between the two parties.

Despite this positive development, XRP's price has not seen a significant rally.

Ripple will pay $50 million of the original $125 million fine imposed by Judge Analisa Torres. The SEC will return the remaining $75 million to Ripple.

The SEC will request the court to lift the injunction placed on Ripple, which was imposed to prevent the company from selling XRP to institutional investors without registering the transactions as securities.

Both Ripple and the SEC have agreed to drop their appeals, effectively ending the legal battle.

Despite the favorable outcome for Ripple, XRP's price has remained muted. Initially, there was a small increase of about 1.5% following the news, but it later lost some of those gains, pricing around $2.47. The price has not shown significant upward movement, staying below the $2.50 mark.

The resolution of the legal dispute reduces regulatory uncertainty for Ripple, allowing the company to focus on expansion and compliance.

However, the impact on XRP's price remains uncertain as investors evaluate the long-term effects of the lawsuit on market sentiment.

Some think that with the legal chapter closed, Ripple might see future growth, but immediate price reactions have been limited.

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