🤝 Ripple and R3 reach settlement in XRP litigation

Ripple Labs and enterprise blockchain consortium R3 have reached a settlement for all outstanding litigation between the companies. In Sept. 2017 R3 filed a lawsuit against Ripple claiming it had violated a prior agreement which would have allowed R3 to purchase five billion XRP ($XRP) tokens, in part or in whole, at a price of $0.0085 before the end of 2019. After a Delaware judge threw the case out R3 continued litigation in New York and California prior to Ripple filing a counterclaim in California alleging that R3 had breached numerous commitments in the agreement. In March 2018, a San Francisco state appeals court denied Ripple’s filing to appeal the order that dismissed its lawsuit against R3. At the start of the dispute, the tokens in question were worth approximately $1 million but the value quickly soared to $3.85 billion after a few months.