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Ripple’s attempt to settle its long-standing legal dispute with the SEC faced a procedural setback as a federal judge rejected their motion. The ruling forces both parties to refile under stricter legal standards, though past victories for Ripple remain intact.
- Judge Analisa Torres rejected the settlement motion due to improper filing under Rule 60, requiring proof of 'exceptional circumstances.'
- XRP's price dropped 2.5% following the news, with $21 million in long positions liquidated.
- Ripple's past legal victories, including the 2023 ruling that XRP is not a security in programmatic sales, remain unaffected.
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