The cryptocurrency XRP has climbed 23% after a federal judge dealt its issuer, Ripple Labs, a softer blow than investors had feared. On Wednesday, the court announced that the blockchain payments firm must pay a civil penalty of $125 million for improperly selling its token to institutional investors. The penalty is just 6% of the $2 billion the Securities and Exchange Commission had hoped for.
"This is a victory for Ripple, the industry, and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone," Ripple's CEO Brad Garlinghouse tweeted Wednesday.
