The judge refused to 'open the backdoor', and the Ripple case is at a standstill!
Latest situation:
Judge Torres, who is in charge of the case, directly rejected the request made by Ripple and the SEC together.
They originally wanted the judge to do two things:
Cancel the previous 'restraining order' against Ripple, which prohibited Ripple from selling XRP in certain ways.
Reduce the previously set penalty amount.
The judge said 'no', maintaining the status quo! The restraining order is still in place, and the amount to be penalized hasn't decreased. The resolution process of the case has suddenly stalled.
The lawyer boldly predicts: both sides might 'stop playing' and directly settle!
The well-known lawyer Fred Rispoli, who has been closely following the case, stated: his personal judgment is that both Ripple and the SEC might ultimately give up on the appeal!
He guesses the outcome is:
Both sides shake hands and reconcile.
The final amount Ripple pays is about $50 million, which is much less than the total amount previously fined.
The core of the judge's most important previous ruling—remains unchanged!
The biggest winner: XRP's 'identity' is secured!
No matter how the discussions go later, the key conclusion will not waver: Judge Torres has already ruled that XRP itself is not a 'security' as the SEC most wants to label it, and it basically can't be labeled as such. Ripple's legal chief emphasized this point immediately.
Big D's quick comment:
Core victory preserved! XRP is not a security—this conclusion seems stable and is a huge benefit for the XRP community.
$50 million settlement? Very likely! For Ripple, it's 'small money to avert great disaster', getting out early is very cost-effective. The SEC can collect some money, save face, and the restraining order is still in place, providing a way out. Both sides have the motivation to settle.
Is the SEC admitting defeat or learning to be clever? Predictions indicate that the SEC seems to have abandoned its goal of 'killing' XRP and is shifting towards demanding 'compliance'. Is it conceding or facing reality? I see both; the SEC has faced too many setbacks in the crypto field over the years.
Is the drama coming to an end? Rispoli said that as early as the end of July to early August, both sides might tell the court 'we have settled, no appeal'. If that's the case, this marathon can be considered finished!
The judge does not give Ripple and the SEC a 'backdoor', maintaining the original ruling. However, lawyers predict: both sides are likely exhausted from the fight and may abandon the appeal, directly settling with Ripple paying about $50 million. The key point is that the judge's determination that 'XRP itself is not a security' is definitely unchanged!
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