Judge Torres Rejects Ripple and SEC’s Request—What’s Next for XRP?

So, here’s the latest twist in the Ripple vs. SEC saga—Judge Analisa Torres has officially denied both Ripple’s and the SEC’s motion for an indicative ruling. What does that mean? Basically, they were both hoping the court would reconsider the July 2023 summary judgment in light of a recent decision involving Coinbase. But Judge Torres wasn’t having it.

The idea was that the Coinbase ruling might influence how the Howey test is applied to XRP sales. But the judge said neither side made a convincing case for how that ruling would actually change the direction of this one.

Crypto lawyer Fred Rispoli weighed in, saying that if Ripple and the SEC really want the judge to consider dropping the case, they’ll need to put together a much stronger argument. His take? The motion didn’t even come close to meeting the heavy legal standard required. In plain English, he was basically saying, “You wasted five years with this nonsense.”

What This Means for XRP

Despite all the legal back-and-forth, XRP is still showing strong momentum. The price recently bounced from around $2 and climbed up to about $2.43 as of May 15, during late trading in North America.

With growing interest from institutional investors and a generally bullish market structure, XRP looks like it’s getting ready to test its all-time high again. The current market cap is sitting at a hefty $242 billion, with a daily trading volume of around $4.8 billion. If this trend continues, we might see XRP enter price discovery mode in the near future.

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