In its Q1 report, Ripple claimed the US Securities and Exchange Commission (SEC) withdrew its appeal regarding XRP and significantly reduced the proposed penalty to $50 million. However, legal expert Bill Morgan contested this statement, noting that SEC’s official confirmation through commissioner approval is still pending. 💡 The report suggests increased institutional interest in XRP. 📈 Ripple cited a potential victory for both itself and the broader digital asset industry based on the SEC’s decision to potentially vacate the injunction pending internal commission approval. Meanwhile, legal expert Bill Morgan highlighted that the SEC has not officially confirmed the withdrawal through public channels. 🤔 The lack of clarity remains an issue for observers and the crypto community. 💬 Ripple’s Q1 report projects substantial institutional use of XRP due to its evolving legal situation and on-chain utility efforts. 💪 Although Ripple’s disclosure provides insights into internal communication, the legal standing of the SEC appeal remains unresolved publicly. Until formal confirmation is issued, the status of the appeal withdrawal remains uncertain in the ongoing case. ⚖️ Read more about this latest XRP development.