Ripple, R3 Settles Legal Dispute

Ripple, R3 Settles Legal Dispute

Ripple, R3 Settles Legal Dispute Over XRPs in Year-Long Court Case

  • The terms of the agreement between the crypto industry’s leading organizations will remain confidential
  • R3 and Ripple were suing each other over an options contract to purchase Ripple’s digital currency XRP
  • On July of 2017 R3 accused Ripple and Brad Garlinghouse of breaching an agreement that would allow R3 to purchase 5 billion XRP at a rate of $0.0085 before September 2019
  • Ripple filed lawsuit against R3 as it failed to deliver a technology partnership allowing Ripple to access R3’s banking network
  • Ripple wants the court to rule the contracts invalid and R3 to pay damages in an amount determined at trial