Ripple vs SEC: Judge Slams Gavel & Deals Out Drama (But Not a Discount)

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.Key Insights:

  • Judge Analisa Torres slammed the brakes (and hopes) on Ripple & SEC’s request to turn $125 million into $50 million. No discounts, no coupons, not even Black Friday deals! 🛑
  • The judge pretty much said, “Look, just because you two finally agree doesn’t mean I’m rewriting my homework. Take it up with the Supreme Court… or your mother.”
  • Ripple’s Chief Legal Officer, Stuart Alderoty, is stuck pondering: should he appeal the ruling on institutional sales or just yank back all appeals and go home? Decisions, decisions… 🤔

Despite Ripple and the SEC finally holding hands and singing “Kumbaya” after years of legal mud wrestling, a federal judge decided to cancel the afterparty.

The $125 million penalty is here to stay—no mysterious envelopes, no crypto Santa Claus, just a cold, hard number. Even with all the SEC’s newfound affection for crypto, Ripple’s wallet won’t get off any lighter.

So what happened? And why does it feel like Ripple’s legal team just got a pie in the face? Let’s break it down before anyone slips on a banana peel.

Judge Torres: Denier of Discounts

On June 26, Judge Analisa Torres sent a five-page, no-nonsense RSVP: “Not coming to your penalty-cutting party.” Ripple and the SEC came together, even agreed on slashing the penalty to a bargain $50 million, and begged to lift Ripple’s “forever ban” from XRP sales.

v. BREAKING: Judge Torres has denied the parties’ Motion for an Indicative Ruling.

— James K. Filan (@FilanLaw)

But Judge Torres wasn’t buying what they were selling. Nuh-uh. She noted, in slightly fancier words, “Law doesn’t magically change if you suddenly agree. Nice try.”

In her ruling, which probably had Ripple’s lawyers practicing their best sad trombone noise, she reminded everyone that a final court judgment can’t be un-done by a handshake under the table… or even a group hug.


“None of this has changed—and the parties hardly pretend that it has,” Torres wrote, possibly while rolling her eyes. “Nevertheless, they now claim that it is in the public interest to cut the Civil Penalty by sixty percent and vacate the permanent injunction entered less than a year ago.”

SEC vs. Ripple: The Neverending Courtroom Sitcom

Long, long ago (2020), in a courthouse not so far away, the SEC accused Ripple of selling XRP like it was a hotdog on the street—unregistered and unregulated. Plus, Gary Gensler’s SEC wanted a $2 billion penalty, which is the kind of number that buys you several small islands, or one large yacht staffed entirely by lawyers.

But in 2023, Judge Torres tossed Ripple a bone: only institutional XRP sales were illegal. Retail sales? Eh, shop on! This cut Ripple’s “legal bill of doom” down to a mere $125 million—and slapped on a permanent injunction hotter than a summer in Miami.

Naturally, Ripple keeps fighting for a world in which “permanent injunction” means “let’s talk about it every six months.”

Ripple Tries to Charm, But the Judge Isn’t Amused

Both Ripple and the SEC filed what sounded like a coupon-clipping, group discount plan—reduce the penalty, end the ban, call it good for the “public interest.” They even hinted that the SEC’s got a new crypto-friendly attitude.

Judge Torres? Not impressed. She reminded everyone that settling a case isn’t the same as convincing a judge to un-bake her judicial cake. If you want to undo a court ruling, take a number and go through appeals. Don’t slide her a note under the bench.

With this, the ball is back in our court. The Court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. In the meantime,…

— Stuart Alderoty (@s_alderoty)

Ripple’s Stuart Alderoty basically shrugged and said, “Well, back to us. We can appeal—or just throw in the towel and go day-trading.” Either way, XRP’s status as “not-a-security (except, y’know, that one time)” holds tight.

So, investors: you can keep buying XRP without worrying you’re committing securities fraud over your morning avocado toast. 2023’s ruling still stands—it’s just not getting any friendlier in court.

XRP Price: Unbothered and Slightly Fabulous

Despite all this legal slapstick, the market yawns and buys more XRP. At ruling time, XRP was trading around $2.12 (up 3.7%—not even a judge can stop the hop). 📈

In the past year, XRP soared over 347%. Why? Less legal chaos and a side order of “maybe Trump is crypto’s new best friend.”

Fun fact: XRP and ADA managed to cling to their post-election sugar rush while Bitcoin and Ethereum were looking for their lost car keys. Who said life isn’t fair?

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2025-06-27 18:17