Summary
TLDR: Ripple Labs opposes SEC’s $1.95 billion fine proposal for XRP sales, arguing it is excessive and lacks allegations of reckless conduct or fraud. XRP price sees growth, with investor confidence strengthening. Ripple remains confident in a fair judicial resolution of the case.
Key Points
1. Ripple Labs has firmly opposed the SEC’s proposed $1.95 billion penalty, arguing for a significantly lower sum and highlighting the broader implications for the cryptocurrency industry.
2. The blockchain giant has contended that the SEC’s penalty demand is disproportionate and reflects an overreach, given the absence of allegations or findings of reckless conduct or fraud in the case.
3. XRP’s price has seen steady growth, outpacing the altcoin market with a 6% leap, reaching $0.56, and investor confidence in XRP appears to be strengthening as the digital asset reclaims crucial resistance points.