Ripple's legal officer responded to a US court's denial of a proposed XRP settlement with the SEC, stating that it does not impact Ripple's victory in the case. The rejection by Judge Analisa Torres was due to procedural issues, not the classification of XRP as a security. The court found the motion for settlement approval to be improper, as it did not address the necessary requirements to reduce the civil penalty. Despite agreeing to lower the $125 million fine, the SEC will retain $50 million. Ripple and the SEC aim to resolve the case, but some community members are dissatisfied with the lack of transparency. Additionally, reports surfaced about Ripple's influence on President Trump's cryptocurrency plans, sparking criticism from the Bitcoin community. Retail abandonment of Bitcoin to institutions has raised concerns in the market. Read more AI-generated news on: https://app.chaingpt.org/news

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