Dearest reader, it appears that the interminable dispute betwixt Ripple and that ever so malleable institution the SEC might, perchance, reach its conclusion this very year. With negotiations ongoing and an impending SEC congregation this week, all eyesāand perhaps many investmentsāare fixed upon XRPās fate. Pray, allow me to present a succinct summary of this most curious contest, what future intrigues await, and why this particular week may prove most pivotal for our dear XRP.
2024 ā The SEC Makes a Grand Attempt to Appeal to the Second Circuit Court
Last year, the SEC, ever eager to extend its influence, filed an appeal to the esteemed Second Circuit Court of Appeals. This was in reaction to a federal judgeās quite sensible rulingānamely, that Rippleās methodical sales of XRP to the populace did not contravene securities legislation, although those to institutions were deemed quite another matter. Imagine the audacity!
15th January 2025 ā The SEC Pens Its Opening Brief to Overturn 2023ās Ruling
Come the dawn of 2025, our dear SEC submitted an initial brief, seeking to overturn the courtās previous judgment. Their argumentārather unsurprisinglyāis that all XRP transactions ought to be considered unregistered securities. Perhaps they think marketing alone creates profit expectations? How quaint. Rippleās legal confidant, Mr. Stuart Alderoty, was quick to dismiss this rote pretext, asserting it would be thus discarded once the new administration took the reinsāone would hope so!
19th March 2025 ā Both Parties Unexpectedly Drop Their Appeals
Quite a surprise, indeed! On the 19th of March, the SEC withdrew its appeal concerning the legal standing of XRP. A most extraordinary turn of events, signaling perhaps a shift under the new regime. Ripple, triumphant in the matter of public sales, did, however, consent to a fine of $125 millionāan amount, one might say, more fitting for a minor misadventure than a national crisis.
8th May 2025 ā The Fabled $50 Million Accord Is Finalized
At long last, the parties reached an agreementācosting Ripple a mere pittance of fifty million dollars, after much wrangling and lengthy appeals. The deal was celebrated with hopes that the Court might lift the ban on XRP sales, and release the $125 million escrowed penaltyāpartly paid to the SEC, and the remainder to Ripple itself.
15th May 2025 ā Judge Torres Declines to Alter the Status Quo
Alas, Judge Torres found herself unamused by SECās desire to lift the ban or reduce their hefty fine. She called their request āprocedurally improperāāquite an obstruction. In consequence, XRPās value faltered, dropping from $2.65 to $2.30. Rippleās legal officer, Mr. Alderoty, assured the public that this procedural hiccup would not undo their recent victories, affirming that XRPās classification remains unchangedājust a matter of process, after all. The courtroom personnel now require two or three weeks to prepare next stepsāmore waiting, dear reader, but do stay hopeful.
What Fate Awaits Us? āļø
The waiting game continues as the SEC prepares for a new requestāone that complies with court dictates. They must convincingly demonstrate that lifting restrictions and lowering penalties shall serve the best interests of investors and the public alike. A wise legal man, Bill Morgan, suggests we observe a modest timelineāthe case could, after a few more steps, finally find its conclusion.
- Ripple and the SEC are to file a properly conducted motion. Should the court approve, the Appeals Court might send the matter back to Judge Torres for her official blessing.
- With their blessing, the court could then order the lift of the ban and a reduction of fines as originally agreed.
- Upon payment of the $50 million, both sides shall petition the Appeals Court to dismiss the ongoing appealāthus, the case shall be officially and utterly closed.
The week aheadāparticularly Thursday, May 22āmay indeed bring clarity and closure. A favourable ruling could also pave the way for an XRP ETF, thereby revolutionizing the market orādare I sayāsaving us from endless legal theatrics.
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2025-05-19 14:15