$XRP 📄 SUMMARY OF THE DECISION

Case: SEC vs. Ripple Labs, Inc.

🔹 What Ripple and the SEC requested:

Both parties jointly asked the Court to issue an indicative ruling (under Rule 62.1 of the Federal Rules of Civil Procedure). Specifically, they wanted the Court to:

1. Dissolve the injunction that prohibits Ripple from selling XRP as unregistered securities.

2. Reduce the civil penalty from $125 million to $50 million, based on a proposed settlement.

They argued that this was part of an agreement to settle the litigation in the District Court and the Second Circuit.

🔹 What the judge ruled:

The judge denied the request, stating:

• The motion was procedurally improper.

• The parties used the wrong legal approach — they treated it as a settlement request, but the judgment was already final.

• Under Rule 60, which governs relief from final judgments, parties must show exceptional circumstances. The parties did not do this, nor did they even cite Rule 60 in their motion.

• Therefore, even if the Court had jurisdiction, it would still deny the motion.

WHAT THIS MEANS

• The injunction remains in place — Ripple is still prohibited from selling XRP as an unregistered security.

• The $125 million civil penalty still stands — the reduction to $50 million was not approved.

• The case is not over — there are cross-appeals pending in the Second Circuit Court of Appeals.

• This is not a final defeat for Ripple, but this specific legal strategy failed due to procedural errors.

🧩 IS THERE A SOLUTION?

YES - Ripple and the SEC still have options:

1. Proceed with the appeals currently pending in the Second Circuit.

2. File a new motion under Rule 60, properly arguing that exceptional circumstances justify vacating the injunction and reducing the penalty.

3. Renegotiate a new settlement and follow the correct legal process for approval.

So…NO PANIC!