It’s Shocking Both Parties Claim Victory as Legal Battle Nears Conclusion: Post XRP Lawsuit Court’s Ruling

The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has taken another significant turn with a recent court ruling. The court granted the SEC’s request for remedies, including an injunction to prevent Ripple firm from further violations of securities laws, and imposed substantial civil penalties.

Fox News reporter Eleanor Terrett reached out to the SEC body for their reaction to the latest court ruling.in the XRP lawsuit.

A spokesperson from the Securities regulatory body stated that the court had issued severe penalties, including a fine twelve times larger than what Ripple had suggested. The court also highlighted what it described as “the egregiousness of Ripple’s conduct” and emphasized the seriousness of their violations.

Ripple, on the other hand, is celebrating the outcome as a win, noting that the final penalty is significantly less than the initial amount the SEC body had proposed. 

All these reactions by both the parties is a sign that both sides seem satisfied with the court ruling, each believing they gained the upper hand in the legal battle.

News reporter Terrett speculated that neither party is likely to appeal the court’s decision regarding the remedies. However, she suggested that the SEC might consider appealing the earlier July 2023 ruling now that the final judgment has been reached.

XRP price action 

The current trading price of the XRP coin is $0.5868, reflecting a 31% increase over the last 30 days. The price chart clearly shows that the token’s value surged significantly after the recent court ruling.

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