XRP coin has performed well recently. Currently Ripple is very popular and one of its best coins is XRP. But it is facing some problems. As they were sued by the US Securities and Exchange Commission. They were accused of selling XRP to institutional buyers. And this is why the SEC filed the case against Ripple. However, as of late, this case is pending. And that's despite recent events hinting at a partial resolution.
[source](https://pixabay.com/photos/coin-cryptocurrency-ripple-xrp-3789232/)
However, it was rumored that on the 25th, Ripple Labs announced a settlement with the SEC. They agreed to pay a lesser fine of $50 million instead of the $125 million fine originally imposed, a slight reduction from the amount they were originally charged. It was very important and the settlement that is currently being settled ends one of the SEC's most prominent crypto cases. However, this does not completely solve all outstanding problems.
The SEC previously withdrew an appeal against Judge Analisa Torres' July 2023 ruling, which determined that sales of XRP on exchanges to retail investors did not qualify as securities. However, the institutional sale of XRP was deemed a violation of securities laws, and Ripple continues to appeal the $125 million fine related to this sale.
Judge Torres' August 2023 ruling remains in effect, meaning XRP is no longer considered a security when bought and sold on the secondary market, but sales to institutional investors still require compliance with securities regulations.
The SEC must now ask Judge Torres to lift the ban on Ripple's XRP sales to institutional buyers, a procedural step that has yet to be completed. Ripple's CEO, Brad Girlinghouse, described the SEC's decision to drop the appeal as an important victory for Ripple and the broader crypto industry. However, the legal battle is not quite over, as Ripple continues to challenge the $125 million fine, arguing that no investors were harmed by the transaction in question.
