Ripple Fights Back, Denies SEC’s $103 Million Settlement Offer

Krutika Adani

Rejects $102 Million Settlement Offer

Ripple and its executive have rejected the SEC's $103 million settlement offer, resolving to win the case on merits.

SEC Trimmed Its Penalty Demand

The SEC had earlier trimmed its penalty from $2 billion to just $103 million in an attempt to wrap up the matter forever.

Ripple Fights for Clarity

Ripple’s motion for supplemental authority in the court shows that it seeks to establish clarity for the entire crypto community rather than pursue a selfish goal with the settlement.

The Entire Case in Brief

The SEC had accused Ripple of selling unregistered securities in 2013 in a case filed in December 2020. The regulator then sought a $2 billion penalty despite losing half the case.

Levels To Watch

In the likely event that Ripple wins the case, the price of XRP might shoot above its $0.88 high and cross $1 within a few days of the judgment.