XRP rises by 3 % after a decrease star-news.press/wp

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 (XRP), the encrypted currency associated with Ripple laboratories, increased by 3.36 % to $ 2.18 after only five hours of the post, According to To CoinmarketCap data.

Garinghouse announces a return to normal operations

“We are closing this chapter once, forever and focusing on what is most important – building the Internet of value. Lock,” Garlinghyus added.

This announcement comes a day after the US District Court rejected a joint request from SEC and Ripple that requires an indicator to reduce a civil penalty worth $ 125 million and reflects the matter that determines the initial sales of XRP for institutional investors as securities curtain under Article 5 of the Securities Law.

“Ultimately, the court in part granted the Supreme Education Council request to issue and a civil penalty because the court found that” Ripple’s willingness to pay the boundaries of the order (the brief ruling) confuses the possibility that it is 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 selling XRP as unregistered security, and federal securities laws were rejected.

In August 2024, Garinghouse argued that Torres’s decision to raise the Ripple Labs was $ 125 million was a “victory” for the company, noting that it was a 94 % reduction of SEC’s initial plan to a fine for two billion dollars.

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