Saad Ullah
Ripple and the SEC are basically gambling everything on this one motion, and if Judge Torres isn't having it, the whole XRP (XRP) settlement could go up in flames. A big-name crypto lawyer just warned that we're looking at a make-or-break moment here.
XRP (Ripple) Holders Should Be Sweating Right Now
Bill Morgan, who knows his stuff when it comes to crypto law, just laid it out plain and simple – this latest joint motion that Ripple and the SEC filed together is absolutely massive. We're talking about the kind of filing that could either end this nightmare or drag it out for years.
"If the motion is not allowed and the settlement agreement is not varied or a new settlement agreement entered, then there is no settlement and the appeal and cross-appeal would continue," Morgan wrote on social media. Translation? If this doesn't work, we're screwed and this legal mess keeps going forever.
So what happened? On Thursday, both Ripple and the SEC went crawling back to Judge Analisa Torres at the U.S. District Court for the Southern District of New York, basically begging her to give their settlement another shot. But here's the thing – she already told them to take a hike once before.
XRP (Ripple) Legal Drama Just Keeps Getting Messier
Let's talk about that first rejection because it's actually pretty wild. Ripple and the SEC filed this joint motion asking Judge Torres for what's called an "indicative ruling." Basically, they wanted her to give them a hint about whether she'd approve their settlement if the appeals court sent the case back down to her.
Sounds reasonable, right? Wrong. Judge Torres shut them down hard, calling their motion "procedurally improper" and saying they didn't even bother to properly explain why they needed to mess with the final judgment. Brutal.
But here's the crazy part – the SEC was actually willing to play ball in a big way. They agreed to cut Ripple's fine from $125 million down to just $50 million. That's giving up $75 million! They also said they'd ask the court to ditch that annoying injunction that's been stopping Ripple from selling XRP to big institutional investors in the US.
XRP (Ripple) Future Hanging by a Thread
Now, in this latest attempt, both sides are trying a different approach. They're claiming "exceptional circumstances" exist, and they're pointing to the SEC's changing stance on crypto policy as their big reason for why the judge should give them another chance.
But here's what's got everyone on edge – if Judge Torres rejects this motion too, Bill Morgan thinks we could end up with a completely different settlement deal. Or even worse, no settlement at all, which means this legal circus continues with appeals flying left and right for God knows how long.
Look, XRP holders have been through hell with this case already. They've watched their token get delisted from exchanges, seen the price get hammered, and endured years of uncertainty. This latest motion might be their last shot at getting some closure.
The bottom line is simple – if this motion gets approved, we could finally see the end of one of crypto's most painful legal battles. If it gets rejected? Well, buckle up because we're in for a lot more drama.
Saad Ullah
