After almost five years of hearing drama, the Ripple VS dry affair finally reaches its last chapter. In a joint decision, Ripple and the Securities and Exchange Commission asked a New York court to release $ 125 million in entire funds, marking the end of a long fight.
Meanwhile, XRP is no longer considered a guarantee on the secondary market, giving a boost to the XRP price, which is now negotiated about $ 2.15.
Joint deposit by Ripple & Dry
This started in December 2020 as a case in which the American sec continued Ripple for the first time, accusing the company of lifting $ 1.3 billion thanks to unregistered XRP sales.
Now, after several key decisions and calls, Ripple and the dry have reached a final agreement.
According to their joint file, $ 50 million in the whole account will be devoted to the dry as a civil penalty, while Ripple will receive the remaining $ 75 million, pending approval from the court.
In their letter to the court, the parties declared that this decision avoids additional calls and officially puts the long term.
XRP’s legal status is now clear
This motion follows the decision of judge Analisa Torres in 2023, which said that XRP is not a guarantee when it is exchanged on the secondary markets. This judgment gave Ripple and the larger cryptography industry a huge boost of credibility.
However, the court also concluded that the first sales of XRP for institutional investors were considered to be titles.
Even Ripple CEO, Brad Garlinghouse, praised the DRA’s decision to delete his appeal, calling him a “marked moment” for the entire industry.
The XRP price is stable
After the news, XRP has shown signs of recovery despite the recent drop in the market. The token is currently negotiating at around $ 2.16, reflecting a 2.45% leap in the last 24 hours.
Meanwhile, experts see a key resistance at $ 2.35, with upward potential for $ 2.44 to $ 2.60 if the momentum accumulates. Lowering, the support is nearly $ 2.05.
