Compass Investments

– Fred Rispoli, founder of HODL Law, said in an August 8 post on X’s website that Elon Musk

“has a great opportunity to legally tell @secgov to go fuck himself after today’s @ripple loss.

“After today’s loss to @ripple, I have a great opportunity to legally tell @secgov to go fuck himself, he said. Mr. Rispoli called on Mr. Musk to

“announce that $XRP will become part of the @XPayments platform.

“If we run this through X Legal, I bet Adam would agree with me, the XRP proponent’s lawyer added, adding that the judge ordered Ripple to pay a $125 million civil penalty on Wednesday and said the blockchain payments company is “permanently restrained and enjoined” from violating U.S. securities laws, as the SEC previously sought $2 billion in damages, a decision that Ripple’s executives agreed to. Although the SEC may appeal the historic ruling in July 2023, when the judge issued his final decision, Rispoli believes that Ripple has won a major victory. I’m surprised at the $125 million, but Ripple only made it back thanks to XRP’s price movement in the last five minutes.

With the new legal clarifications following the favorable court ruling, Rispoli believes that XRP promoted by Ripple can play an important role on the X settlement platform. Such a move would further legitimize XRP and increase optimism in the market.

In the meantime, some market experts believe that the SEC and Ripple may be currently working on an XRP-based spot exchange-traded fund (ETF) behind closed doors. For example, one elite trader under the online pseudonym Doctor Profit suggested that, contrary to popular belief, the XRP ETF will hit the market before the Solana (SOL) product.

In the past 24 hours, the price of XRP has doubled, driving the market higher. At the time of publishing this article, the token was trading at $0.6264, up 25% in a single day. This is the largest daily increase in XRP since July 2023, when Judge Torres declared the tokens themselves

“not securities

.