{"id":27180,"date":"2025-05-16T14:34:02","date_gmt":"2025-05-16T14:34:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27180"},"modified":"2025-05-16T14:34:02","modified_gmt":"2025-05-16T14:34:02","slug":"ripple-says-latest-ruling-does-not-affect-its-legal-victory","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27180","title":{"rendered":"Ripple says latest ruling does not affect its legal victory"},"content":{"rendered":"
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\"Ripple<\/p>\n

Ripple\u2019s legal chief said a US court\u2019s rejection of a proposed XRP settlement with the Securities and Exchange Commission (SEC) does not pose a threat to Ripple\u2019s win.<\/p>\n

Judge Analisa Torres of the US District Court for the Southern District of New York rejected a joint Ripple-SEC motion<\/a> seeking an indicative ruling on their proposed settlement, according<\/a> to a filing on May 15.<\/p>\n

Ripple\u2019s chief legal officer, Stuart Alderoty, said the rejection does not reverse the company\u2019s victory in the case. The company\u00a0announced the end of the lawsuit<\/a>\u00a0on March 19.<\/p>\n

\"Ripple
Source: <\/em>Stuart Alderoty<\/em><\/a><\/figcaption><\/figure>\n

Alderoty stressed that the latest court decision does not change the fact that XRP (XRP<\/a>) is not a security, adding that the rejection is related to \u201cprocedural concerns with the dismissal of Ripple\u2019s cross-appeal.\u201d<\/p>\n

Why did the court refuse to grant the ruling?<\/h2>\n

According to the court document, Torres denied the motion as \u201cprocedurally improper\u201d since the SEC and Ripple failed to file the correct procedural motion to support the proposed settlement.<\/p>\n

\u201cBy styling their motion as one for \u2018settlement approval,\u2019 the parties fail to address the heavy burden they must overcome to vacate the injunction and substantially reduce the civil penalty,\u201d the Judge wrote.<\/p>\n

\"Ripple
An excerpt from the court\u2019s rejection of the SEC-Ripple motion on May 15, 2025. Source: Courtlistener<\/em><\/figcaption><\/figure>\n

The SEC and Ripple agreed to lower the court\u2019s $125 million fine<\/a> days before Ripple CEO Brad Garlinghouse announced the end of the case. Subsequently, Alderoty disclosed on X that the SEC will keep $50 million of the $125 million fine<\/a>.<\/p>\n

\u201cThe parties have made no effort to satisfy that burden here; their request does not even mention the Rule,\u201d the court document stated.<\/p>\n

Community asks for explanation<\/h2>\n

As Alderoty has not provided any details on the nature of procedural concerns by the court, but assured the public that Ripple and the SEC are \u201cfully in agreement to resolve the case,\u201d many in the community were unhappy with the lack of specifics from Ripple.<\/p>\n

\u201cFirst, in a recent post about this case, you said you would not be making any more X posts because the case was closed,\u201d one XRP observer responded to Alderoty in the X thread.<\/p>\n

\"Ripple
Source: X thread from <\/em>Stuart Alderoty<\/em><\/a><\/figcaption><\/figure>\n

\u201cSecond, I don\u2019t think it’s enough to just say that it\u2019s procedural. I think further explanation of what went wrong in the filing is needed,\u201d one XRP observer wrote in an X thread,\u201d the post continued.<\/p>\n

Related: <\/strong><\/em>Ripple commits $25M to US school nonprofits<\/strong><\/em><\/a><\/p>\n

\u201cLet\u2019s remember that both he and Brad said the case was over, and it still isn\u2019t; they\u2019re cheating us a little,\u201d another user speculated<\/a>.<\/p>\n

The news came shortly after online reports suggested that US President Donald Trump was allegedly manipulated by a Ripple-linked lobbyist<\/a> into announcing the XRP token would be part of his plans<\/a> for a national cryptocurrency reserve.<\/p>\n

Many in the Bitcoin (BTC<\/a>) community have been slamming Ripple<\/a> for advocating for a multi-coin strategic reserve, instead of a Bitcoin-only reserve.<\/p>\n

Magazine: <\/strong><\/em>Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee<\/strong><\/em><\/a><\/p>\n