Ripple's latest defeat in the SEC lawsuit causes a drop in XRP prices
After over four and a half years of legal battles, the ongoing case between Ripple and the Securities and Exchange Commission (SEC) shows no signs of concluding, despite a settlement agreement. The latest development comes after a federal judge rejected the joint motion for an indicative ruling, leaving both parties in legal limbo.
Initially, Ripple agreed to pay a penalty of $50 million, significantly less than the $2 billion the SEC initially sought or the original ruling of $125 million. However, the proposed settlement has been rejected, leaving both parties the option to either withdraw their appeals or continue to appeal the injunction.
As of July 6, 2025, Judge Analisa Torres has stepped out of the case, but the district court’s prior ruling—favoring the SEC on certain points—is set to automatically take effect once both Ripple and the SEC formally dismiss their respective appeals. Neither party has filed the necessary court notices to dismiss their appeals, keeping the case in a transitional phase.
Ripple CEO Brad Garlinghouse announced that Ripple is dropping its cross-appeal, and the SEC is expected to do the same, following an internal SEC meeting scheduled on July 3, 2025. However, this meeting did not produce a formal dismissal, and legal experts caution that such meetings are routine and don’t guarantee immediate action on the case. Consequently, the dismissal process may take additional weeks before official documents are filed and the case is formally closed.
The overall market improvement in the past few days has not been capitalized on by XRP, which is currently trading below $2.15, down by over 3% on a daily scale. The latest update on the matter is another disappointment for both sides as the Judge has rejected the joint motion for an indicative ruling.
This means the final conclusion of the Ripple vs. SEC lawsuit is imminent but still pending procedural formalities that could take weeks to complete. Both parties now face the decision of whether to withdraw their appeals or continue the legal battle, with the potential for further delays and uncertainty ahead.
- In light of the Judge's rejection of the joint motion for an indicative ruling, the ongoing legal battle between Ripple and the SEC continues, with indecision lingering.
- As Ripple decides to drop its cross-appeal, and the SEC is anticipated to follow suit, the ball is now in both parties' courts to either withdraw their appeals or continue the legal battle, potentially leading to further delays.
- The ongoing Ripple vs. SEC lawsuit, which has significantly impacted the crypto finance world, is yet to be officially closed, as procedural formalities, including the filing of necessary court notices, may take additional weeks to complete, keeping the blockchain technology industry in a state of limbo.
