XRP price could hit $3 on $50M SEC settlement :

Ripple and the SEC strike a $50 million settlement agreement pending judicial approval.
A joint motion in the US District Court aims to lift Ripple’s injunction and release $125M in escrowed penalties.
XRP’s price holds steady at around $2.31, setting the stage for a much-awaited breakout at $3.
Ripple (XRP) price consolidates gains around $2.31 at the time of writing on Friday, down slightly on the day. A joint motion filed by Ripple and the Securities and Exchange Commission (SEC) on Thursday revealed that the two parties have reached a settlement agreement pending judicial approval. If approved, the motion would end the longstanding battle between Ripple and the SEC and possibly set a precedent for future litigations involving crypto-related entities.
Meanwhile, XRP’s performance in the last 24 hours reflects a wider bullish wave in the cryptocurrency market, which saw Bitcoin (BTC) cross above $100,000 for the first time since early February.
Altcoins are rallying in unison with Bitcoin, indicating a broader risk-on sentiment after the United States (US) and the United Kingdom (UK) inked a limited bilateral trade agreement.
The agreement leaves President Donald Trump’s 10% tariff on British goods in place, fairly expands agricultural access for both nations, while reducing strict duties on British car exports.
Crypto investors embraced the trade agreement, which could set a precedent for dozens of deals President Trump is expected to negotiate within the 90-day tariff delay window.
Ripple and SEC ink $50 million settlement agreement
Ripple and the SEC filed a joint motion in the US District Court for the Southern District of New York, signaling a settlement. According to the filing, both parties have agreed to settle the lawsuit, with Ripple required to pay $50 million in penalties. Additionally, the SEC and Ripple have requested an indicative ruling to lift the injunction on Ripple and release $125 million in escrowed penalties. Ripple will pay $50 million to the SEC, with the rest returned to the company.
Judge Analisa Torres of the Southern District of New York imposed the $125 million penalty on Ripple for selling XRP to institutional investors, a fraction of the colossal $2 billion fine initially requested by the SEC.
Judge Torres also ruled that Ripple had not violated securities laws by listing XRP on exchanges for investors to buy on the open market. The SEC appealed Torres’ ruling, with Ripple filing a cross-appeal. Both parties agreed to drop their cases, setting the stage for the final end of the lawsuit filed in December 2020.
The settlement comes amid a raft of changes at the SEC, which has significantly scaled down crypto-focused investigations and litigations. President Trump’s nominee, crypto-friendly Paul Atkins, was sworn in as the SEC Chair in April.
Atkins promised to provide a firm regulatory foundation for digital assets, which removes uncertainty while fostering innovation. During the SEC’s Crypto Task Force roundtable in April, the Chair acknowledged that innovation in the crypto industry has been stifled for many years.
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