XRP News Today: Ripple Faces Pressure Ahead of April 3 SEC Meeting; BTC Retakes $85k.
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Ripple Awaits Crucial SEC Vote as XRP Faces Legal and Market Headwinds
Ripple CEO Brad Garlinghouse on March 19 announced that the SEC would withdraw its appeal against the Programmatic Sales of XRP ruling. Despite this, the SEC has not commented on its appeal plans. Ripple’s Chief Legal Officer Stuart Alderoty also shared proposed settlement terms related to Judge Torres’ Final Judgment, which include:
Reducing the penalty from $150 million to $50 million. The SEC had initially sought $2 billion.
Vacating the injunction on XRP sales to institutional investors. The SEC had requested an injunction to restrict Ripple’s on-demand liquidity and remittance operations.
The SEC’s next closed meeting, on April 3, sets up a potential appeal withdrawal vote. XRP has faced intense selling pressure since Brad Garlinghouse’s announcement, tumbling 19% to $2.1088. XRP could fall below $2 if the SEC further delays its vote to withdraw the appeal.