Judge Torres denied the $50 million ripplesec deal, saying the appeal must end first.
On the other hand, they will not change to the legal status of XRP. The 2023 secondary sale ruling remains in place.
Ripple and the SEC still filed motions, signaling continued cooperation towards a final settlement.
When it seemed like Ripple Sec’s case was approaching the deadline for their long legal battle, Judge Antyasa Torres decided to wait. She formally rejected joint requests from both Ripple and the SEC in order to obtain early feedback on the proposed $50 million settlement.
She said, “Please come back when the appeal is over.”
So, what exactly does this mean?
Why did the judge say no?
On June 26th, Judge Torres responded to a joint move by Ripple and the SEC. Essentially, they wanted her to preview. This is an early opinion on whether she is okay with changing her final judgment once the lawsuit returns from the appeal.
Therefore, she denied the allegations and said she could not comment on the penalties while the lawsuit was still appealed.
In: Judge Torres rejected the joint move between @Ripple and @Secgov and rejected @Secgov’s proposal. pic.twitter.com/ipzd4amg1h
– Eleanorterrett (@Eleanorterrett) June 26, 2025
So, while the judge’s decision may feel like a set-off, it doesn’t change anything by changing Ripple’s legal status or XRP’s legal status.
Why isn’t this as bad as it looks?
Despite initial concerns from the XRP community, legal experts call this short-term “FUD” (fear, uncertainty, doubt). Here’s why:
No new penalties were issued – The ongoing debate between $50 million and $125 million fines remains unresolved.
XRP’s legal status remains the same – Judge Torres’ 2023 determines that XRP is not secondary sales security.
The settlement is still on track – Both Ripple and the SEC are still submitting jointly, but this is usually a good indication of mutual progress.
What’s coming next?
The case is currently waiting for the appeal process to close, and then Judge Torres can officially rule on the penalty.
Meanwhile, all eyes are currently on August 15th, 2025. It is the date the SEC is scheduled to file a status report and could shape the next step in the Ripple lawsuit.
XRP price drops by 4%
Following the news, XRP prices have fallen 4% in the last 24 hours, currently at around $2.13. Currently, the market capitalization is $125.76 billion. Meanwhile, 24-hour trading volume also fell 6%, calming nearly $2.666 billion, showing a slight drop in market activity after the court’s decision.
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