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We May See Ripple Lawsuit Settled by Year’s End

The Ripple VS SEC lawsuit has been going on for months now, but there may be an end in sight, according to some experts.

Recent news from the case showed that the SEC may be close to settling on how much it will charge Ripple for their infractions. Initially, Ripple outright rejected the fines levied against them, calling the nearly $2 billion in fines excessive and unlawful.

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Ripple also filed a motion to strike testimony and evidence one from one of the SECs witnesses. We have yet to see a ruling from the judge in that matter.

Some experts predict that the case will be resolved by the end of the year, with a ruling of $100 million in fines for Ripple when it is all said and done, on top of the legal fees they have to pay. If both parties can agree on a number, then that would certainly help the case move forward much faster.

The remedies matter is the key issue right now and will probably be the deciding factor as to when the case can wrap up. That determines how much Ripple will have to pay, as ordered by the SRC, but the residing judge has to approve it. Additionally, Ripple can reject the remedies order and try to argue against it while the case is ongoing. That can hold up proceedings until they get a number they are agreeable to.

Ripple’s Ongoing Legal Woes

Ripple is the parent company of the XRP token, which is at $0.5318 (XRP/USD). That is up 1.72% from yesterday, and the coin is on a bullish trend right now.

Ripple has been embroiled in a lawsuit brought against it by the SEC on grounds that there was illegal securities trading. The case continues with arguments over how much damage Ripple did to its customers and how seriously it needs to be punished for its actions.

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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