The Ripple (XRP) vs US Securities and Exchange Commission (SEC) case is approaching a potential resolution. Recent events have heightened expectations among the legal community and investors.
June 12 Motion
On June 12, Ripple and the SEC jointly filed a renewed motion under Federal Rule of Civil Procedure 60, requesting Judge Analisa Torres to amend her final judgment. The request aims to reduce Ripple’s $125 million penalty to $50 million, distribute that amount to the SEC, and return $75 million to Ripple. It also seeks to dissolve the injunction blocking Ripple’s institutional XRP sales, citing 'exceptional circumstances' and a mutual desire to avoid prolonged litigation.
Ruling Expectations
Simultaneously, the parties filed a status report with the Second Circuit on June 16, asking the appeals and cross-appeals to remain in abeyance while the district court considers the motion. The SEC is expected to submit another update by August 15 if the motion remains pending. Technically, no fixed deadline mandates Judge Torres to rule by that date, but legal experts predict a decision 'this week or next.'
Market Implications and Community Sentiment
XRP markets have already responded to recent events, with a price uptick observed on June 15 amidst rising optimism for a swift ruling from Judge Torres. However, any rejection could renew volatility in the market. While JackTheRippler’s claim remains unverified, it echoes widespread belief in an imminent decision.
Thus, the Ripple (XRP) vs SEC case is nearing an important stage, with many awaiting a ruling from Judge Torres that could have significant implications for the market and the legal context of cryptocurrencies.
