The post XRP News: Why the Ripple vs SEC lawsuit Still Isn’t Fully Closed appeared first on Coinpedia Fintech News
The Ripple vs SEC lawsuit has taken another twist, and it’s raising new questions. Rumors have been flying that Ripple would pay the fine in XRP tokens. But according to former SEC lawyer Marc Fagel, that’s simply not true, and Ripple has already paid the $125 million fine in cash.
So, what’s the truth, and why isn’t the case closed yet?
Ripple Paid in Cash, Not XRP
There were widespread rumors and speculation that Ripple might pay the fine using its own cryptocurrency, XRP. However, these rumors have been dismissed by authoritative sources.
Marc Fagel, who is familiar with SEC procedures, confirmed that Ripple has already paid the $125 million penalty, and it was paid in cash, not in XRP. He even pointed out that the court order required the fine to be paid in cash and not in any cryptocurrency.
While Ripple was initially ordered to pay the full $125 million, the latest settlement terms see Ripple actually paying $50 million, with the remaining $75 million returned to the company.
However, the funds are held in an escrow account until all court procedures are finalized.
Why the Case Isn’t Over Yet
Despite headlines about settlements and payments, the Ripple vs. SEC lawsuit continues to drag on due to several unresolved legal and procedural issues. According to Marc Fagel, the final step depends on both Ripple and the SEC officially withdrawing their appeals.
The SEC appealed the finding that XRP sales on public (secondary) exchanges do not violate securities laws.
Ripple appealed the ruling that its institutional sales of XRP were unregistered securities offerings.
Once both parties drop their appeals, the court order will take effect, and the money will be released to the SEC. Fagel added that this is a standard process and usually takes about one to two months after the vote.
XRP Price Rises Despite Ongoing Legal Battle
Ripple’s XRP is showing strong momentum despite its ongoing legal battle. In the past two weeks, it has climbed to the 3rd spot among top cryptocurrencies by market cap. The token surged 29% in the last week and gained over 7.4% in the past 24 hours, now trading around $3.15.
Analysts say XRP is now targeting its previous all-time high. A decisive break above $3.30 could open the door for a major rally, possibly pushing the price closer to record levels.