Crypto Blog
Ripple is the 5th largest crypto by market cap behind BTC, ETH, USDT, and BNB. In mid-October 2023, Ripple had a market capitalization of $26.6 billion.
That will spare both executives a jury trial. The dropped charges leave the case down to negotiating over penalties to Ripple Labs, the SEC said in its filing.“The dismissal of civil claims against Brad Garlinghouse and Chris Larsen, who were sued for assisting Ripple Labs’s sales, will likely encourage wealthy crypto defendants to fight regulators in court.”
“The subdued performance of Ripple in mid-October now makes the crypto among the most poorly-performing tokens on the crypto market, wiping any gains it previously made.” Given the duration and cost of the legal battles Ripple has had to fight against the SEC, there could even be a prolonged bull market for XRP to satisfy years of pent-up demand.
Before the latest victory in the SEC lawsuit, XRP had just recently gained 2.6% in average crypto exchange prices over a 5-day window.Ripple whale addresses portends a possible recovery in the near future.Despite the good news and strong technical signals for Ripple this week, a whale-sized chunk of XRP tokens recently sent to Bitstamp could overload the market with supplies.
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SEC moves to dismiss lawsuit against Ripple’s Brad Garlinghouse and Chris LarsenThere will likely be no trial for the civil suit involving Brad Garlinghouse and Chris Larsen following the SEC’s notification it would drop the lawsuit against the Ripple execs.
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SEC Drops Charges: Ripple’s Garlinghouse and Larsen Vindicated in Landmark CaseCrypto Blog
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