Ripple is facing a significant legal setback in a recent court case, and Chief Legal Officer Stuart Alderoty outlined potential next steps for the company.
Ripple's Reaction to Court Decision
Stuart Alderoty, Chief Legal Officer at Ripple, commented on the recent court ruling, stating that the ball is now in their court. The company has two options: to press forward with an appeal or to dismiss it.
Court's Statement on Ripple and SEC
The court denied the joint motion for an indicative ruling filed by Ripple and the SEC. Judge Analisa Torres noted the company's serious and ongoing misconduct, stating that nothing had changed regarding the facts or law.
XRP's Status After Court Ruling
Despite Alderoty's statement that XRP's legal status remains unchanged, the token has seen a 3% decline in the last 24 hours, making it the worst-performing token in the top 10.
Ripple now faces the decision of how to proceed after the unfavorable court ruling, which could also impact XRP's price.
