Ripple vs. SEC ends with $125M fine! – Here’s how XRP prices reacted

Both Ripple and the SEC had unresolved issues following Judge Analisa Torres’ 2023 ruling. The SEC sought to overturn unfavorable portions of the decision, while Ripple contested the $125 million penalty and the injunction on institutional sales.

In June, a pivotal moment occurred when Judge Torres denied their joint request for an “indicative ruling”, a step that could have led to a negotiated settlement.

The motion aimed to dissolve the injunction and reduce Ripple’s penalty by more than half, potentially avoiding the appeals process.

However, Judge Torres rejected the motion outright and ordered the clerk to close it, forcing both parties into full appellate proceedings.

Now, in the latest filing, both Ripple and the SEC have dropped their appeals, leaving the original penalty and injunction in place. The escrowed funds will soon be transferred to the U.S. Treasury, marking the financial closure of the case.

Following its sharp rally on the back of the legal closure, XRP was consolidating around the $3.34 level at press time.

The 9 and 21 period EMAs remained in a bullish alignment, suggesting underlying strength, while the RSI at 71 showed slightly overbought conditions.

Price action showed that bulls were still in control, though the upward push has lost steam, likely due to profit-taking after the recent surge.

If buying interest stays strong above the $3.30 support zone, XRP could make another move higher in the short term.