The U.S. Securities and Exchange Commission (SEC) has dropped its appeal against Ripple, aligning with recent actions in other cases involving Coinbase and Kraken.
Ripple still faces a pending cross appeal and the unresolved $125 million fine, but this move could potentially open the door for negotiations and a potential reduction in the fine.
Attorney Fred Rispoli acknowledged that Ripple is likely working on a cross appeal to reduce or eliminate the $125 million fine, and there is a possibility that the fine could be significantly reduced to around $10 to $12 million.
Rispoli suggests that in exchange for Ripple's cross appeal, the SEC may agree to a reduction in the fine or other concessions, allowing Ripple to move forward without further regulatory restrictions.