As the lawsuit between Ripple and the SEC seemed to be coming to a close, Judge Analisa Torres decided to delay. She officially rejected the joint request from Ripple and the SEC for preliminary guidance on the $50 million settlement agreement.
She clarified: 'Come back when the appeal ruling is over.'
What is the real meaning of this decision?
Why did the judge refuse?
On June 26, Judge Torres responded to the joint request from Ripple and the SEC, in which both parties sought to receive a 'directive ruling' – that is, a preliminary opinion on the possibility of changing the final ruling after the lawsuit goes through the appeal.
The judge denied the above request on the grounds that she cannot comment on the penalty while the lawsuit is still under appeal.
Although this decision may seem obstructive, it does not change Ripple's legal standing or the legal status of XRP in the cryptocurrency market.
This is not as bad as you think
Although the XRP community was initially concerned, legal experts believe this is merely short-term 'FUD' (Fear, Uncertainty, and Doubt). The reasons are as follows:
No new penalties have been imposed — the debate over whether the penalty is $50 million or $125 million is still unresolved.
The legal position of XRP remains intact — Judge Torres's 2023 ruling that XRP is not a security in secondary transactions is still in effect.
The agreement is still progressing — Ripple and the SEC are still coordinating to file a joint submission, a positive sign indicating that both sides have many steps to take in negotiations.
What is the next progress?
Currently, the lawsuit must wait for the appeal process to conclude, then Judge Torres will officially issue the final ruling on the penalty.
August 15, 2025, is particularly noteworthy, as the SEC is expected to submit a status report on the lawsuit, which could guide the next steps in the litigation between Ripple and the regulatory agency.
XRP price dropped 4%
Immediately after the court's information, the price of XRP dropped 4% in the past 24 hours, currently trading at about $2.13. The market capitalization of XRP reached $125.76 billion. The trading volume in the last 24 hours also decreased by 6%, to around $2.66 billion, indicating a slight decline in activity in the cryptocurrency market right after the court's decision.
Source: https://tintucbitcoin.com/tham-phan-tam-dung-thoa-thuan-ripple/
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