Recently, Judge Analisa Torres' decision in the Ripple and SEC case attracted public attention, particularly regarding a potential $50 million settlement.
Why Did the Judge Say No?
On June 26, Judge Torres responded to a joint motion by Ripple and the SEC, where both parties requested an 'indicative ruling'. Essentially, they were asking her for a preview of whether she would be okay with changing the final judgment once the case returns from appeal. The judge denied this motion, stating that she cannot comment on penalties while the case is still under appeal.
Why This Isn’t as Bad as It Sounds?
Despite initial concerns from the XRP community, legal experts are labeling this short-term as 'FUD' (Fear, Uncertainty, and Doubt). Key points include: - No new penalties issued — the debate between a $50 million and $125 million fine remains unresolved. - XRP's legal status stays intact — Judge Torres' 2023 ruling that XRP is not a security in secondary sales still stands. - Settlement still on track — both Ripple and the SEC are continuing to file joint motions, which is typically a good sign.
What Comes Next?
The case now awaits the appeals process to conclude, after which Judge Torres can officially rule on penalties. Meanwhile, all eyes are on August 15, 2025 — the date when the SEC is expected to file its status report, which could shape the next steps in the Ripple lawsuit.
The judge's decision not to prematurely assess the situation, while it may seem a setback, does not alter the legal standing of Ripple or its token XRP.
