XRP Lawsuit Update: Court Twist as Ripple, SEC Request Changes

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Ripple and SEC: A Legal Soap Opera That Just Won’t End! 🎭

Ah, the grand spectacle of Ripple and the U.S. SEC, a veritable ballet of legalese, pirouetting towards what we all assumed was the finish line. Yet, just as the curtain seemed poised to fall, a delightful twist has emerged: both parties, in a fit of dramatic flair, are now beseeching the court to reconsider some of the penalties that had already been decided. How utterly charming! 😏

But pray tell, what mischief lies behind this latest maneuver, and why does this case refuse to take its final bow?

Ripple SEC Push to Modify Penalty

In a move that has sent ripples (pun intended) through the XRP community, Ripple and the SEC have jointly filed a motion that could only be described as a legal love letter. They are requesting an “indicative ruling,” which, in layman’s terms, means they want the judge to reconsider the final judgment, particularly the relief and penalties. Because who doesn’t love a good second chance? 💌

Former SEC lawyer Marc Fagel, with all the gravitas of a Shakespearean character, explained that both parties are now attempting to revise the rather hefty $125 million penalty and the injunction that prevents Ripple from engaging in similar unregistered sales in the future. A veritable feast of legal finagling!

In a delightful twist, Ripple has added a follow-up letter, arguing that dissolving the injunction wouldn’t free them from the shackles of securities laws. They still pledge to comply with the law, even without the court’s watchful eye. How noble! Or perhaps just a tad cheeky? 🤔

Who’s Causing the Delay—Ripple or the SEC?

The crypto community, ever the curious onlookers, is left pondering: who is truly to blame for this delightful delay? 🤷‍♂️

Interestingly, XRP lawyer Bill Morgan has stepped into the limelight, declaring that it is not the SEC dragging its feet, but rather Ripple that is asking for more. He pointed out that the SEC has shown a willingness to cooperate, especially in the matter of dissolving the injunction. A plot twist worthy of a novel!

Marc Fagel chimed in, noting that the charges were brought under a previous SEC leadership, not the illustrious Gary Gensler, and that the case now awaits a judge’s decision, rather than being stalled by the SEC. How very convenient! 😏

SEC Appeal Changes Ripple’s Strategy

According to Morgan, the SEC’s recent shift in enforcement strategy has emboldened Ripple, like a character in a romantic comedy suddenly realizing they can have it all. He suggested that if the judge agrees to the joint request, a final settlement could materialize within weeks. How thrilling! 🎉

But now, Ripple sees a golden opportunity to negotiate better terms. The appeal has given them a reason to aim higher, hoping for a more favorable outcome. Because why settle for less when you can aim for the stars? 🌟

Until then, all eyes are on Judge Torres, the arbiter of this high-profile drama, as the court decides whether to grant the relief modification and finally bring this legal saga to a close. Will it be a happy ending, or merely another cliffhanger? Stay tuned! 📺

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2025-06-20 16:38