Ripple vs. SEC: A Legal Drama Worthy of a Regency Novel 🎭

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In a Nutshell:

  • Though Mr. Garlinghouse, the esteemed CEO of Ripple, has proclaimed victory in the legal skirmish with the SEC, the matter remains unresolved, much like the fate of a young lady awaiting her suitor’s proposal.
  • However, a recent joint motion, granted by the court, suggests that the denouement may be nigh, though the SEC remains as silent as a wallflower at a ball.

Ripple vs. SEC Legal Drama

Mr. James K. Filan, a gentleman of the law, shared an order from the United States Court of Appeals for the Second Circuit, which acknowledged and granted the joint motion filed by both Ripple and the SEC. This motion, dear reader, requested a pause on their individual appeals, much like a pause in a heated quadrille.

While this development brings the case one step closer to resolution, the SEC has yet to utter a word, leaving the public in suspense. Mr. Filan further disclosed that the agency has been directed to file a status report on its legal activities within 60 days of the order, a task that may prove as arduous as penning a sonnet.

#XRPCommunity #SECGov v. #Ripple #XRP The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order.

— James K. Filan (@FilanLaw) April 16, 2025

Previously, Mr. Garlinghouse, with the air of a man who has just won a duel, announced on March 19 that the SEC would drop its latest appeal, effectively signaling the end of the lawsuit. This declaration was later corroborated by Ripple’s Chief Legal Officer, adding a touch of credibility to the tale.

This turn of events allowed Ripple to make significant strides domestically, acquiring a leading prime broker in one of the largest deals in the crypto industry, valued at over $1.2 billion. A move as bold as it is strategic, though the market’s reaction has been as unpredictable as the weather in Bath.

Despite these developments, XRP’s price has yet to reflect the optimism. It surged to $2.6 following Mr. Garlinghouse’s announcement but has since declined to $2.1, even dipping to $1.6 during last week’s market-wide crash. Analysts suggest that even an official acknowledgment from the SEC that the case has been dropped may not sway XRP’s price, as it has already been priced in, much like the outcome of a well-known novel.

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2025-04-16 20:20