*Ripple’s Legal Misstep Delays Settlement—But Not the End for XRP
1. What Happened?
Ripple and the SEC filed a joint request asking the court to:
-Remove the injunction preventing XRP sales as unregistered securities
-Reduce Ripple’s fine from $125M to $50M
It looked like a step toward settlement—but the court said no.
2. Why It Was Denied
The judge didn’t reject the idea—it was the procedure that failed:
-The case already had a final judgment, but both sides treated it like it didn’t
-They didn’t cite Rule 60, which is required to modify a final ruling
-No “exceptional circumstances” were provided to justify the changes
Even if the court had jurisdiction, the motion still would’ve been denied.
3. What This Means
-The injunction stays: Ripple still can’t sell XRP as a security
-The $125M fine remains—no reduction
-Cross-appeals are still ongoing in the Second Circuit
This wasn’t a ruling on Ripple’s guilt—it was a procedural error.
4. Why It’s Not Over
The SEC’s willingness to lower the fine suggests both sides want closure.
The judge even hinted that, with the correct procedure, the result could be different.
Ripple’s mistake? They knocked on the right door the wrong way.
5. What’s Next?
Ripple can:
-Continue appeals in the Second Circuit
-File a proper Rule 60 motion
-Renegotiate a new deal and follow the correct steps
