Judge Denies SEC Settlement, XRP Tumbles; BTC Holds Above $100k
By:
Bob Mason
Published: May 16, 2025, 02:26 GMT+00:00
Key Points:
XRP tumbled 6.5% on May 15, hitting $2.3551, following a court ruling in the SEC vs. Ripple case.
Judge Torres denied the SEC and Ripple's request to lift the injunction prohibiting XRP sales to institutional investors.
Despite the setback, the likelihood of an XRP-spot ETF approval in 2025 rose to 81%, according to Polymarket.
SEC vs. Ripple: Judge Denies Motion to Settle
The SEC vs. Ripple case took a significant turn on Thursday, May 15, crashing XRP to $2.3551. Judge Analisa Torres denied the SEC and Ripple’s motion for an indicative ruling on lifting the injunction prohibiting XRP sales to institutional investors. She also rejected the request to reduce the $125 million penalty, stating: