In the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC), Ripple has objected to the proposed $2 billion fine for XRP sales to institutional investors. Ripple lawyers argue that the penalty is disproportionate and excessive, citing the Terraform Labs-SEC agreement as an example.

Ripple's legal team claims that a fair penalty would be around $10 million, highlighting that the SEC has accepted fines ranging from 0.6% to 1.8% of the defendant's gross income in other cases. They argue that the requested fine represents approximately 1.27% of Ripple's $33 billion in gross sales, which is exorbitant considering there is no alleged fraud and institutional buyers did not suffer significant losses.

As the legal battle approaches its end, Ripple CEO Brad Garlinghouse predicts that the final decision may come in July, unless the SEC makes an unexpected move. Garlinghouse believes that if Ripple does not receive a positive decision and XRP is considered a security, it will only apply in the USA, and investors will not be able to trade XRP on most crypto trading platforms in the US.

The outcome of this case will have significant implications for the cryptocurrency industry, and the world is watching with bated breath. Will Ripple emerge victorious, or will the SEC's heavy penalty set a precedent for future cases? Only time will tell.