XRP enthusiasts are eagerly anticipating a potential rise to $1.375 as rumors circulate about a $100 million settlement between Ripple and the U.S. SEC.
The speculation gained traction after the SEC responded to Ripple’s proposed $10 million remedy for securities law violations in their latest filing. This followed Ripple’s reference to Terraform Labs’ $420 million penalty to argue for a lower settlement amount than the SEC’s demand for $2 billion.
However, the SEC clarified in a letter to District Judge Analisa Torres that the situations of Ripple and Terraform Labs are not comparable. Unlike TFL, Ripple has not agreed to any significant reimbursement to investors or other settlement terms. The SEC also corrected Ripple’s assessment of TFL’s penalty, revealing a different ratio of their gross profits.
The SEC is currently seeking $876.3 million in disgorgement from Ripple, which could potentially lead to a $102.6 million civil penalty based on the same ratio as TFL’s penalty. This news has led some XRP community members to believe that the SEC may be willing to reduce its initial $2 billion penalty request.
The XRP community, known as the XRP Army, is optimistic about a potential settlement and has set a target price of $1.375 for XRP. Speculations from various sources suggest that the final settlement amount could range from $50 million to $62.5 million, with the price of XRP expected to rise in response.
Despite Ripple’s Chief Legal Officer hinting at a reduced settlement figure, some community members, like Moon Lambo, disagree. They argue that a closer examination of the SEC’s statement does not support this interpretation. It is important for readers to conduct their own research before making investment decisions, as the information provided in this article is for informational purposes only.