On Thursday, Ripple Labs and the American Commission of Securities and Stock Exchange (SEC) encountered a significant obstacle in the ongoing legal battle as a judge of Analyis Torres negative their joint application for a landmarks.
This ruling will take place, despite the fact that both sides express their desire to resolve the case amicably, which suggests that the legal dispute will continue for now.
Ripple remains under control
An expert on the Pumpius market emphasized the implications of this judgment in detailed social media postemphasizing the message sent by judge Torres.
A joint application tried to terminate a indefinite order against ripple and reduce the company’s fine by $ 125 million by $ 60%. However, Judge Torres firmly rejected both conclusions, signaling that there would be no shortcuts or arrangements regarding the scenes in this matter.
Pumpius questioned the sudden equalization of interests between Ripple and the Securities and Stock Exchange Commission, which prompted speculation about the motivation of their cooperation.
The expert decoded the situation, noting that Ripple had previously pleaded guilty by settlementAnd Sec willingly maintained the terms of this contract.
Both sides were aimed at eliminating the order and punishment to allow cleaning of a legal entourage. However, the denying of this request by judge Torres ensures that Ripple remains under control, and a fine of $ 125 million and the order is still in force.
Court denial as a tactical delay?
This judgment does not undermine the previous victory of Ripple in 2023, in which XRP was not considered as safety in secondary sales. However, the denial maintains existing ones punishment on site, increasing the fears among Ripple supporters and potentially affect XRP market results.
The ruling is perceived as an energy game, which suggests that the Blockchain payment company is trying to finalize its activity before the key change in the cryptocurrency landscape.
There is speculation about SEC motivation to adapt to Ripple in their request to end the case. The expert theoretizes that both sides are strategic in significant migration of liquidity on the cryptocurrency market, and SEC probably signals which platforms will dominate in the future.
Although this failure may seem discouraging, it is perceived by Pumpius as a tactical movement. Delay in solving Legal issues The area of a cryptographic company can temporarily suppress the price of XRP, potentially issuing retail investors, while allowing institutional players to peaceful more assets.
Basically, the judgment of judge Torres emphasizes transparency in the legal process, insisting that all future applications must be fully in the opinion of the Court and society.
Ripple retains its critical victory in the field of XRP as a lack of security for retail, but ongoing penalties and appeal process will probably develop at a slower, more perceptible pace.
When writing, XRP trades $ 2.14, which accounts for over 4% in 24-hour frames as a result of the decision of Judge Torres.
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