Summary
- The US court has once again dismissed the settlement agreement between Ripple and the SEC.
- With the settlement falling through, legal risk continues to persist.
- Following this news, the price of XRP has been trending downward.
A US court has once again dismissed the settlement agreement between Ripple, the issuer of XRP, and the US Securities and Exchange Commission (SEC).
Eleanor Terrett, host of Crypto in America, stated on the 26th (local time) via her X account, "Judge Analisa Torres of the US District Court for the Southern District of New York has denied the settlement request between Ripple and the SEC." Previously, on the 17th of this month, Ripple and the SEC submitted a settlement request to the US court.
The US court had also dismissed the settlement agreement between Ripple and the SEC last month. According to the agreement, the fine imposed by the SEC on Ripple would have been reduced from $125 million to $50 million.
Following this news, the price of XRP has been on a downward trend. As of 10:25 PM, XRP is trading at $2.14 on CoinMarketCap, down 2.7% from the previous day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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