- XRP lags behind the market as investors await the SEC vs. Ripple verdict on institutional sales penalties.
- Ripple may face a $10M penalty if the court rules post-complaint XRP sales complied with US securities laws.
- The IG’s probe into SEC conflicts of interest could impact SEC’s appeal against the Programmatic Sales ruling.
XRP edged up on Thursday, June 27, currently trading at $0.475852, mirroring the broader crypto market’s movement. However, XRP lagged behind due to the impending verdict in the SEC vs. Ripple case and the SEC’s intention to appeal the ruling on Programmatic Sales of XRP. Investors eagerly await the court’s decision on penalties for alleged violations of US securities laws regarding XRP sales to institutional investors.
In March, the SEC filed a brief with the courts, asking for an almost $2 billion penalty and an injunction to prevent XRP sales to institutional investors. Ripple countered with a proposal of a $10 million penalty, emphasizing that it had not continued to breach US securities laws. Ripple also noted the absence of fraud allegations in the case.
The outcome o…
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