Ripple will settle SEC fine with cash, not XRP, a former SEC official confirmed.

[zainalara]

Ripple will pay the SEC fine in cash, not XRP, ending related market rumors.
XRP price surged 7% after legal issues were clarified; government seizure applications were denied.
Judge Torres' ruling on the settlement motion will likely expedite the case.

Former U.S. Securities and Exchange Commission (SEC) official Mark Fagel confirmed that Ripple Labs' settlement payment to the agency is secured by cash and will not be paid using XRP tokens. The clarification refutes rumors circulating on social media that the fine would be settled using XRP, a scenario that raised concerns about the potential impact on the market.

Fagel stated that the payment is being held in an escrow account, eliminating any risk of XRP tokens being transferred as part of the settlement. The news brought some clarity to the market, and the price of XRP rose 7%.