- Joint motion dismissed by Judge Torres.
- XRP loses $2 billion in an hour.
- SEC appeal remains active and paused.
Ripple Labs and the SEC faced a judicial decision on June 26, 2025, as Judge Analisa Torres denied their joint motion to terminate the ongoing case in the Southern District of New York.
The case holds significance due to its potential impact on regulatory interpretations and the immediate substantial loss in XRP’s market capitalization.
Judge Analisa Torres denied Ripple’s request to amend penalties in a ruling, maintaining the initial $125 million penalty. The decision prevents Ripple’s early dismissal of the case and extends the litigation process. Ripple sought to reduce payments to the SEC and reclaim funds, but the court’s rejection continued to inhibit their financial and business strategies. Ripple’s legal challenges persist, with a permanent injunction preventing XRP institutional sales, leading to market volatility. The loss of $2 billion in market value highlights the immediate impact on XRP’s price. Broader financial repercussions include restricted institutional funds and curtailed crypto business avenues.
As the SEC’s appeal remains paused, the case’s resolution is anticipated in mid-August. Market and regulatory outcomes hinge on future court interpretations, influencing other crypto-related legal frameworks. The ongoing case reflects the complexities of U.S. securities law in the cryptocurrency sphere.
For the foregoing reasons, the parties’ motion for an indicative ruling is DENIED. The Clerk of Court is respectfully directed to terminate the motion at ECF No. 987. — Judge Analisa Torres
