XRP News Today: Ripple and SEC Refile Motion to Reduce Penalty by 60% in Ongoing Case

Today marks a pivotal moment for XRP holders, with immediate legal and financial implications stemming from the ongoing SEC vs. Ripple case. The context began to shift on June 12, when Ripple and the SEC jointly refiled a motion asking Judge Analisa Torres to issue an indicative ruling. This request aims to vacate the injunction that blocks institutional XRP sales and to reduce the civil penalty from $125 million to $50 million. The parties also requested the release of the remaining $75 million still held in escrow, originally allocated for restitution.

Both parties initially filed a joint motion in May, but Judge Analisa Torres rejected this due to procedural errors. The parties styled their filing as an indicative ruling under Rule 62.1, which is used for pending appeals. However, what they sought was to vacate a final judgment, which legally requires a Rule 60 motion, a far stricter standard. Unlike earlier filings, this new motion is structurally stronger, following procedural guidance previously laid out by the court. By addressing those concerns, the refiled request has introduced renewed confidence among legal analysts that the court could now rule in favor of the adjustments.

If Judge Torres grants the motion, it would signal that she is inclined to modify her earlier final judgment. That, in turn, would allow the case to be remanded to the district court from the Second Circuit Court of Appeals. The result would be a clear path for both parties to withdraw their pending appeals and finalize a negotiated settlement. This development has sparked optimism among XRP holders, as a favorable ruling could provide a short-term boost to XRP's price. The potential for XRP to reach new heights is a topic of intense discussion within the community.

According to market commentators, XRP could be worth significantly more in the future. Currently trading at $2.15, the coin has surged 350% over the past year. While some analysts predict bearish scenarios, including the possibility of XRP dropping to zero, these views have diminished in recent times. The XRP Rich List indicates that only 4% of the 6.56 million wallets hold more than 11,000 XRP, suggesting that the majority of holders possess far fewer tokens.

The potential outcomes for those holding 10,000 XRP tokens until 2040 are varied. According to a crypto prediction platform, XRP could trade as high as $160.34 per coin by 2040, with a minimum price estimate of $119. This would mean that 10,000 XRP could be worth between $1.12 million and $1.6 million. A crypto exchange offers an even more optimistic outlook, forecasting a minimum price of $168 for XRP by 2040. In the most ambitious scenario, XRP could reach $1,415.83 per coin, making a $21,500 investment in 10,000 XRP today grow to $14.15 million, representing a return of 65,752.4%.

Several factors support these optimistic projections, including increasing institutional interest in XRP. At least eight companies have announced plans to adopt XRP as a treasury asset, with collective investments totaling up to $1 billion. Additionally, over 10 spot ETFs, which will hold physical XRP, are set to launch. Leading asset managers involved include trillion-dollar manager and billion-dollar firms.

However, not all forecasts are positive. In a research report, a firm suggested XRP’s price could plummet to $0.13. This bearish scenario is based on XRP failing to deliver on its promise in cross-border payments and in the multi-trillion-dollar tokenization market. If this happens, a 10,000 XRP holding would be worth just $1,300, a loss of more than 95%. Notably, this bearish scenario could materialize by 2030, though the situation may improve or worsen by 2040.

The XRP community has reason for renewed optimism as recent legal developments suggest the lengthy Ripple lawsuit may finally be nearing its conclusion. Market analyst expects XRP dominance to surge, potentially leading to bullish price implications as the total crypto market reaches new highs. With a price of $2.26 today and a circulating supply of nearly 58.8 billion tokens, XRP commands a $133 billion market cap. Hitting $10 would mean lifting that market cap to over $588 billion, a significant milestone for the cryptocurrency.