Following Judge Analisa Torres's ruling rejecting the joint motion from Ripple and the SEC, the company's legal representatives have outlined their response and future steps.
Ripple's Response to the Court's Decision
Chief Legal Officer Stuart Alderoty posted a statement on X, indicating that the company is considering its next legal actions. Alderoty highlighted two options: withdrawing the appeal regarding the court's finding on historic institutional sales or proceeding with the appeal. He emphasized that, despite the court's ruling, Ripple would continue its business operations as usual.
XRP's Legal Status Remains Untouched
Alderoty stressed that the judge's ruling does not affect the legal classification of XRP in the U.S. He noted that "XRP’s legal status as not a security remains unchanged." This indicates the company's readiness for the next phase and confidence in their stable legal position.
Ripple's Next Steps
The court's denial of the joint motion clarified that parties cannot bypass a final judgment merely through mutual agreement. Ripple's course hinges on whether they choose to continue with the appeal or let the existing ruling stand. The decision will be made with due consideration of all potential risks and consequences for the company's business.
In light of the court's rejection of the joint motion, Ripple faces a key choice in the legal process, but the company reassures stakeholders of its preparedness for whatever course it takes.
