What Ripple And The SEC Must Do Next

Legal expert Fred Rispoli explained that Ripple and the SEC will refile the motion under the correct rule. However, commenting on the wording of the court’s decision, he noted that both parties need to get on their knees and beg for the relief as they look to finally settle the XRP lawsuit.

MetaLawMan, another legal expert, had previously warned that it is far from a sure thing that a federal judge would agree to vacate a prior ruling as part of a settlement. He remarked that this was fairly commonplace several years ago, but now, judges have started balking at this in more recent years.

Basically, Judge Torres granting the relief won’t be straightforward even when Ripple and the SEC refile their motion under the correct procedure. She already mentioned that the district court must “determine whether the proposed consent decree is fair and reasonable, with the additional requirement that the public interest would not be disserved in the event that the consent decree includes injunctive relief.”

Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, also commented on Judge Torres’ denial of the motion. In an X post, he affirmed that nothing in the order changes his firm’s wins, including the ruling that XRP is not a security.

He added that the order is about procedural concerns and that both parties are fully in agreement to resolve the case and will revisit the issue with the court together. The XRP price is currently trading at around $2.4, down over 4% in the last 24 hours.