Market News

Court Ruling Leaves Ripple, SEC Settlement in Limbo as XRP's Status Remains Secure

In a recent court ruling, Ripple Labs' journey with the SEC has hit a procedural snag, but XRP's classification as a non-security remains intact.

U.S. District Judge Analisa Torres rejected a joint motion from both Ripple and the SEC aimed at amending a previous ruling that would have lessened Ripple's financial penalty.

The judge determined that the motion was procedurally improper, which means the existing injunction and penalties will persist for now.

Despite this setback, Ripple's legal chief, Stuart Alderoty, has reassured the community that the core victory for XRP remains unchanged.

He emphasized that the ruling pertains to procedural issues, not the fundamental legal standing of XRP.

This continued alignment between the SEC and Ripple suggests a commitment to resolving the dispute, with future filings expected.

However, the failed motion has sparked uncertainty about the immediate next steps for both parties in this legal battle.

Although XRP experienced a minor price drop following the ruling, its status as a non-security continues to provide a robust foundation for Ripple.

Market observers are closely evaluating how this development might affect Ripple's strategy and the broader cryptocurrency market.

As Ripple explores its options, including potential re-submissions, the ongoing situation remains a key focus in the crypto landscape.