The company behind XRP Coin, one of the largest altcoins by market value, published its last quarter report. There are important details here and a summary of the key developments in the last quarter is also presented. Alright Ripple 
$0.521481 What does the team say in the report they just published?
Ripple (XRP) News
The most important detail in the report XRP CoinRegarding the validity of the court’s decision that . is not a security. The Ripple front reminds its investors that there is no objection on this issue in the details of the SEC’s appeal. In other words, although the penalty figures may change as a result of the appeal, XRP Coin may perform well in the upcoming possible bull market since its status will not change.
Despite the ongoing battle with the SEC, we have seen XRP Coin ETF applications. Canary has officially filed for Bitwise, 21Shares spot XRP ETF. Moreover, Grayscale, the largest crypto trust issuer company, also launched the XRP Trust.
SEC Case
In early August, the judge fined Ripple $125 million for the sale of XRP Coin to third parties. The penalty imposed on August 7 was significantly less than the SEC’s massive $2 billion penalty request.
“There was no finding or allegation of fraud or negligence against Ripple, or any finding that anyone suffered any financial harm.
On October 2, the SEC indicated its intention to appeal the Court’s decision that certain historical XRP distributions by Ripple were securities. Importantly, the SEC’s appeal is not about whether XRP is a security per se. The court made this clear when it ruled in Ripple’s favor in July 2023. The court unequivocally stated that XRP is not a security in itself and that the SEC did not object to this decision. “
on 24 October Ripple He submitted Form C documents to the court, which included the issues he wanted to raise for cross-appeal. Meanwhile, $125 million was deposited into the escrow account and will be returned to the company if the penalty amount does not change when the appeal process is completed.
Ripple officials expect the final decision from the appeals court in the fall of 2025.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
