Judge ends Ripple, SEC lawsuit with $125 million fine, XRP surges 18%
Summary
The US court has fined Ripple $125 million in the SEC lawsuit over XRP sales. XRP's price surged 18% after the news. The court partially rejected the SEC's demand for over $2 billion in compensation. The ruling follows a partial summary judgment in July 2023, finding Ripple's institutional sales violated securities laws but programmatic sales did not. Only 1,278 transactions were found to violate securities laws. As of press time, XRP is trading at $0.61, with a market cap of $34.13 billion and a 24-hour trading volume of $2.84 billion. Total crypto market value is $1.94 trillion with a 24-hour volume of $96.91 billion and Bitcoin dominance at 55.94%.
