The ongoing battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has taken a new turn, with the SEC challenging Ripple's claims and seeking a significant penalty. The SEC argues that Ripple's citations of settlements are inaccurate and that the company's failure to agree on a settlement and continued enrichment through its conduct warrant a substantial penalty.

Ex-SEC lawyers James Farrell and Marc Fagel have also weighed in, suggesting that the SEC may appeal Judge Torres' summary judgment and that an injunction could have a significant impact on Ripple's XRP ODL business. Ripple, on the other hand, claims that it is only required to pay a civil penalty of not exceeding $10 million.

The legal uncertainty has sparked debate on the potential remedies and the future of XRP's price. Currently, XRP is trading near a key support level, below the 50-day, 100-day, and 200-day Exponential Moving Average (EMA), confirming a bearish trend. If the crypto market fails to rebound, XRP's price risks falling further to break the channel downside to the next support level at $0.42.

In conclusion, Ripple's legal woes have intensified, and the outcome of the lawsuit could have a significant impact on XRP's price. With the SEC seeking a substantial penalty and an injunction potentially looming, XRP's price may plummet to $0.42 or lower. The crypto market's rebound will be crucial in determining XRP's fate.