The SEC’s lawsuit against Ripple intensifies as the SEC seeks a $2 billion penalty for alleged unlawful XRP sales, despite dropping charges against Ripple’s CEO. Ripple contests this, arguing that XRP isn’t a security.
Pro-XRP lawyer Bill Morgan criticizes the SEC’s demand, sparking debate within the XRP community. Attorney John E. Deaton’s move to represent thousands of Coinbase customers in a lawsuit against the SEC further challenges crypto regulation.
Ripple’s response to the SEC’s demand is due by April 22, with implications for XRP’s price. Despite uncertainty, XRP’s price might drop initially but could rise to $0.5739.