SEC vs. Ripple: Binance Case Ripple Effect Sends XRP Lower

#XRP 🔥🔥 $XRP

XRPUSDT Perpetual: 2.1528 (-2.1%)

The ongoing legal battle between the SEC and Binance took center stage on Thursday, May 29, casting a shadow over investor sentiment surrounding Ripple and XRP. In a noteworthy development, both Binance and the SEC filed a joint motion to dismiss their case—an action likely following the SEC's final closed-door meeting of 2025.

Despite the significance of the filing, the news failed to ignite interest in Binance Coin (BNB), which closed Friday, May 30, with a 2.89% loss. In contrast, XRP faced stronger downward pressure. The SEC’s decision to remain silent on the Ripple lawsuit after the meeting left the market disappointed.

Many had anticipated a second court filing that would signal progress toward a settlement—particularly one that might include lifting restrictions on institutional XRP sales and reducing the $125 million penalty imposed on Ripple. With no update from the SEC, hopes of a near-term resolution dimmed, triggering a wave of selling.

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