Ripple Labs has achieved a significant breakthrough in the ongoing XRP lawsuit, gaining a favorable ruling from a U.S. court. The court’s decision to expedite the final judgment marks a pivotal moment in a legal battle that has persisted for years, affecting both Ripple and its native cryptocurrency, XRP.
Court Moves for Faster Resolution
In a notable turn of events for Ripple, the court has revised an earlier ruling, enabling a swifter resolution of the case. Court documents reveal that Ripple and the plaintiffs mutually agreed that delaying the judgment was unnecessary, as the majority of class claims had been settled. Additionally, the court addressed Ripple’s request for an amended judgment to clarify any uncertainties surrounding the case’s conclusion. Although the judgment is proceeding, one claim for relief against Ripple remains pending until the appeals process is finalized. Both parties are expected to petition for lifting the stay within 30 days once the appeals are resolved. As part of these legal proceedings, Ripple has submitted comprehensive records of its litigation costs, highlighting the extensive efforts involved in its defense.
Ripple Vs SEC Lawsuit Timeline
This recent legal victory follows Ripple’s earlier success in its ongoing conflict with the U.S. Securities and Exchange Commission (SEC), a case that continues to influence regulatory discussions across the nation. Pro-XRP attorney Jeremy Hogan has suggested that the SEC case might reach a conclusion by mid-2025, especially if there are changes in leadership at the SEC. Ripple’s leadership remains hopeful, viewing these legal triumphs as a solid foundation for future expansion. The expedited judgment in the XRP lawsuit not only signifies Ripple’s advancements but also has the potential to impact other cryptocurrency-related legal battles.
Ripple’s XRP Experiencing Market Surge
Recently, XRP experienced a significant price surge, reaching a three-year high of $1.63 following news of SEC Chair Gary Gensler’s planned resignation on January 20, coinciding with President-elect Donald Trump’s anticipated commencement of his second term. Although the price has since adjusted to $1.46, XRP still demonstrates an impressive 30% increase over the past week. Market analysts maintain an optimistic outlook, with some predicting that XRP could surpass its previous all-time high of $3.38 before the year concludes.
The developments in Ripple’s legal journey and XRP’s market performance underscore the dynamic nature of the cryptocurrency landscape. As Ripple continues to navigate legal challenges and market fluctuations, its progress could set a precedent for other digital assets facing similar hurdles. The outcome of these legal proceedings may not only shape the future of Ripple but also influence the broader regulatory environment for cryptocurrencies.
