The price of XRP jumped more than 3 % on Friday, a few hours after the CEO of Ripple Labs, Brad Garlinghyus, said that the company is declining from cross -gravity against the US Securities and Stock Exchange Committee (SEC) and expects the organizer to do the same.
“Ripple is back from our attractiveness, and it is expected that the Supreme Education Council will give up its attractiveness, as they said previously,” Garlinghouse He said In the post on Friday. Xrp (XrpThe cryptocurrency associated with Ripple laboratories increased by 3.36 % to $ 2.18 after only five hours of the post, According to To CoinmarketCap data.
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“We are closing this chapter once, forever and focusing on what is most important – building the Internet of value. Lock,” Garlinghyus added.
The advertisement comes a day from The US boycott court rejected a joint request From SEC and Ripple they ask the ruling of the index of reducing a civil penalty worth $ 125 million and reflecting an order that determines the initial sales of XRP for institutional investors as securities transactions under Article 5 of the Securities Law.
“In the end, the court was partially granted the Supreme Education Council request to issue a civil penalty because the court found that Ripple’s willingness to pay limits [Summary Judgment] Judge Alyssa Torres said that the system proves the possibility of being in the end, if it is not already, the line crosses. “
XRP’s legal status “is still unchanged.”
After the ruling, the chief legal employee of Ripple Stuart Alderoty He said“The ball returned to our stadium.”
“The court gave us two options,” Aldri said.
He said: “In both cases, the legal status of XRP remains as safety that has not changed,” adding:
“Meanwhile, work is as usual.”
If the Supreme Education Council also drops its appeal, the legal battle may end between Ripple Labs and the American organizer, which has lasted for more than four years.
Related to: The American judge Ripple denies the joint SEC request to reduce the penalty of 125 million dollars
In December 2020, SEC filed the lawsuit against Ripple Labs, Chris Larsen and CEO Brad Garlinghyus.
SEC’s central claim was that Ripple raised $ 1.3 billion by sale XRP as unregistered security, violating federal securities laws.
In August 2024, Garlinghyus argued that Torres Decision to raise Ripple laboratories It was $ 125 million “victory” for the company, noting that it was a 94 % discount from SEC Initial Plan for a fine for two billion dollars In damage.
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