US Court Rejects Ripple-SEC Settlement Reducing XRP Penalty
US Court Rejects Ripple-SEC Settlement Reducing XRP Penalty

US Court Rejects Ripple-SEC Settlement Reducing XRP Penalty

News summary

Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) faces new procedural setbacks after U.S. District Judge Analisa Torres rejected a joint motion to reduce Ripple's $125 million penalty to $50 million and lift an injunction against XRP sales, ruling the motion procedurally improper and emphasizing the need for exceptional circumstances under federal rules. Despite these hurdles, Ripple’s Chief Legal Officer Stuart Alderoty affirmed that previous legal victories, including the clarification that XRP’s secondary market sales are not securities, remain intact and that both parties remain committed to resolving the case. The court’s refusal to vacate the injunction and reduce penalties has led to increased market uncertainty, contributing to a recent drop in XRP’s price and higher volatility. Technical analysis highlights critical support and resistance levels for XRP, with analysts warning of potential price declines if key thresholds are breached, while on-chain data reveals a significant drop in new addresses and derivatives trading volumes. Legal experts suggest Ripple and the SEC will need to reframe their arguments to address regulatory and public interest concerns as the drawn-out case continues to impact market sentiment. Overall, the delayed resolution prolongs uncertainty for Ripple and its investors, even as partnerships and market fundamentals offer some optimism.

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