Judge rejects Ripple and SEC’s joint bid to conclude XRP lawsuit – Crypto News – Crypto News
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Judge rejects Ripple and SEC’s joint bid to conclude XRP lawsuit Judge rejects Ripple and SEC’s joint bid to conclude XRP lawsuit

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Judge rejects Ripple and SEC’s joint bid to conclude XRP lawsuit – Crypto News

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  • A US federal judge has denied Ripple and the SEC’s joint request to end the XRP case.
  • Ripple must now appeal or accept the court’s partial ruling.
  • Legal uncertainty around XRP continues to affect market sentiment.

In a major legal setback for both Ripple Labs and the US Securities and Exchange Commission (SEC), a federal judge has denied their joint request to end the long-running XRP case.

The decision, which has reignited uncertainty around the crypto firm’s legal standing, leaves Ripple with only two clear options: either push forward with an appeal or voluntarily dismiss the case altogether.

Judge refuses to close the XRP case

US District Judge Analisa Torres rejected a joint motion by Ripple and the SEC to bring the XRP lawsuit to a close.

The two sides had hoped to wrap up the legal proceedings following an earlier judgment that partially favoured Ripple and introduced regulatory ambiguity for the broader crypto market.

However, Judge Torres made it clear that unresolved matters remain, particularly surrounding remedies in the SEC’s case against Ripple’s institutional sales of XRP.

The refusal means the case is far from over, despite the previous wins Ripple celebrated in court.

Ripple now faces a pivotal decision

Following the judge’s decision, Ripple’s Chief Legal Officer, Stuart Alderoty, stated that “the ball is now in our court,” confirming that the company must make a critical legal decision.

According to Alderoty, the crypto company can either pursue an appeal against the partial ruling or accept the outcome and proceed toward a settlement or dismissal.

Although Ripple has publicly maintained its belief in the strength of its case, this latest development forces the company to reassess its legal and strategic options carefully.

For now, Ripple has not disclosed which path it will choose, but market watchers are closely monitoring the company’s next move.

XRP’s regulatory cloud remains

The court’s decision underscores the lingering regulatory uncertainty surrounding XRP, even after Judge Torres ruled in 2023 that programmatic sales of the token did not constitute securities offerings.

That ruling had sparked optimism across the crypto industry, with some interpreting it as a precedent-setting win for digital assets.

However, by denying the joint motion to end the case, the court has made it clear that Ripple’s legal troubles are not entirely behind it.

The SEC is still pushing for penalties, including possible fines or other remedies related to Ripple’s earlier sales practices, which were deemed unregistered securities offerings.

Market now awaits Ripple’s next step

The judge’s refusal to close the case has introduced fresh uncertainty for XRP holders and the broader crypto market.

While Ripple previously appeared confident that the worst was over, this latest ruling indicates that significant legal and financial hurdles remain.

Traders and investors are now awaiting Ripple’s decision, which could determine whether the case proceeds to a final judgment or moves into a new appellate phase.

Any further delay or escalation in legal proceedings could weigh on XRP’s price and affect sentiment across the digital asset space.

In the meantime, the case continues to serve as a high-profile test of how US securities law applies to cryptocurrencies.
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