Ripple and SEC reach agreement to suspend $125 million judgment, hint of possible appeal

Ripple Labs' legal team has requested a suspension of payment of the $125 million penalty awarded on August 7, 2023. The SEC has agreed to delay payment until after September 6. Ripple is proposing to deposit 111% of the judgment amount (about $139 million) in a bank account until the end of the appeal period or the outcome of the appeal is determined. The move could herald an appeal by the SEC. Ripple CEO Brad Garlinghouse called the ruling a "victory," and the company said it would "respect" the fine. The case is being heard by Judge Analisa Torres. If appealed, it would mean Ripple's dispute with the SEC has not been resolved. The SEC had accused Ripple of raising money from XRP as an unregistered security. The judge previously ruled that XRP's sale on the exchange did not constitute a security. XRP is currently priced at $0.56 and has risen about 0.15% in the past 30 days.