The Ripple-SEC lawsuit is once again in limbo. A joint motion has been filed asking Judge Analisa Torres to revisit her final judgment. But will she grant it? Two legal experts offer very different perspectives.
Conflicting Predictions
Bill Morgan, a pro-Ripple lawyer, thinks there’s a chance Judge Torres will approve the motion. He points out that modifying the judgment is crucial to finalizing the settlement between Ripple and the SEC, saving court time and resources by ending appeals. However, he acknowledges the risk. The parties essentially asked the judge to rewrite her ruling, and she might not be willing to do that twice. He notes that the quick rejection of a previous motion isn’t a good sign. While optimistic, he’s not certain.
Fred Rispoli, another lawyer, is far more pessimistic. He believes the joint motion is too short and lacks the contrition needed to sway the judge, who he says seemed angry with the previous attempt. He argues that the motion should have included a deeper explanation of the SEC’s failings and apologies from Ripple. He thinks the judge’s discretion, not just the law, will determine the outcome. He predicts the motion will be rejected unless the parties add more information or the judge simply wants the case off her docket. Even with a continued injunction, Rispoli notes Ripple can still sell XRP to institutions, though it will be more difficult.
The Stakes
Both lawyers agree the judge faces a simple choice: approve the $50 million settlement with no injunction, ending all appeals, or send the case back to the appeals court for potentially another year of legal battles. The commercial impact of this decision is huge.
At the time of writing, XRP was trading at $2.25.
