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Rumor: Judge Torres Is Ready to Close Ripple (XRP) vs SEC Case
A recent post by JacktheRippler has set tongues wagging in the crypto community, suggesting that Judge Torres is ready to close the long-running Ripple (XRP) vs SEC case. While this claim remains unverified, it aligns closely with the rapidly evolving procedural status surrounding the high-profile lawsuit.
The motion filed on June 12 by Ripple and the SEC under Federal Rule of Civil Procedure 60 aims to reduce the penalty to $50 million, distribute that amount to the SEC, and return $75 million to Ripple. The request also seeks to dissolve the injunction blocking Ripple’s institutional XRP sales, citing “exceptional circumstances” including regulatory shifts and a mutual desire to avoid prolonged litigation.
The June 12 motion follows the May 15 rejection of a similar request due to procedural deficiencies and insufficient justification, making this new motion stronger and more meticulously presented.
At the same time, both parties have agreed that any appeals will remain on hold while the district court considers this latest motion. A written opinion from Judge Torres is anticipated in the near future.
Industry experts, including Bill Morgan and Fred Rispoli, predict a decision “this week or next.” Morgan specifically emphasized the motion’s procedural corrections and strong content, suggesting it could persuade Judge Torres to grant the request. Furthermore, dismissing appeals and closing the case would significantly reduce judicial burden, making approval pragmatic.
It is essential for investors to note that any ruling made by Judge Torres has not been finalized until an official written opinion is issued. However, given the timeline and recent developments in the case, legal observers believe a swift decision may be imminent.
Ripple’s XRP market has already reacted to this rumor, with short-term price upticks observed on June 15 as optimism built around Judge Torres taking action quickly. Any rejection could, however, prompt renewed volatility.
It is vital for investors to conduct in-depth research and not rely solely on speculation before making any investment decisions.
Source: timestabloid.com
