{"id":66778,"date":"2025-05-16T05:14:47","date_gmt":"2025-05-16T05:14:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=66778"},"modified":"2025-05-16T05:14:47","modified_gmt":"2025-05-16T05:14:47","slug":"important-ripple-v-sec-lawsuit-update-xrp-price-slips-5-in-response","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=66778","title":{"rendered":"Important Ripple v. SEC Lawsuit Update: XRP Price Slips 5% in Response"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Just as the XRP Army celebrated the official ending of the legal case against the SEC, Judge Analisa Torres has denied the joint motion for an indicative ruling on their settlement.
\nXRP\u2019s price reacted with an immediate price drop, but Ripple\u2019s CLO said the company has nothing to worry about.<\/p>\n

Judge Torres Rejects<\/h2>\n

The latest turn in this ongoing saga, which started back in late 2020, was reported<\/a> by attorney James Filan on May 15. The filing reads that Judge Torres of the US District Court for the Southern District of New York has denied the motion as it would be \u201cprocedurally improper\u201d to approve it since both parties failed to file it correctly under Rule 60.<\/p>\n

The motion was filed<\/a> on May 8, as both parties had agreed to reduce the penalty by 60% from the initial $125 million the court ordered last year to $50 million.<\/p>\n

After listing the lack of proper filing under the correct court rules, Judge Torres concluded:<\/p>\n

\u201cIf jurisdiction were restored to this Court, the Court would deny the parties\u2019 motion as procedurally improper.\u201d<\/p>\n

Stuart Alderoty, Ripple\u2019s Chief Legal Officer, who confirmed<\/a> in late March that the lawsuit between the two had essentially ended after they decided not to file appeals against each other, said the order changes \u201cnothing\u201d in \u201cRipple\u2019s wins (i.e., XRP is not a security, etc).\u201d<\/p>\n

He noted that the denial is only due to procedural concerns and that the SEC and Ripple are \u201cfully in agreement to resolve this case and will revisit this issue with the Court, together.\u201d<\/p>\n

Nothing in today\u2019s order changes Ripple\u2019s wins (i.e. XRP is not a security, etc). This is about procedural concerns with the dismissal of Ripple\u2019s cross-appeal. Ripple and the SEC are fully in agreement to resolve this case and will revisit this issue with the Court, together. https:\/\/t.co\/vBQdBD3FNe<\/a><\/p>\n

\u2014 Stuart Alderoty (@s_alderoty) May 15, 2025<\/a><\/p>\n\n

XRP Price Dips<\/h2>\n

Ripple\u2019s cross-border token jumped toward $2.7 earlier this week where it faced immediate rejection that pushed it south to $2.5 yesterday. However, the court\u2019s denied motion drove it lower once again as it dipped by over 5.5% at one point to $2.36.<\/p>\n

It has recovered some ground and now sits above a critical support level<\/a> around $2.38 but it\u2019s still approximately 5% down on the day, while BTC has managed to bounce off and sits close to $104,000.<\/p>\n

<\/a>XRPUSD. Source: TradingView<\/p>\n

The post Important Ripple v. SEC Lawsuit Update: XRP Price Slips 5% in Response<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Just as the XRP Army celebrated the official ending of the legal case against the SEC, Judge Analisa Torres has denied the joint motion for an indicative ruling on their settlement. XRP\u2019s price reacted with an immediate price drop, but Ripple\u2019s CLO said the company has nothing to worry about. Judge Torres Rejects The […]<\/p>\n","protected":false},"author":0,"featured_media":66779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-66778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/66778"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66778"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/66778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/66779"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}