Trump Meets Ripple Execs: What’s Next for SEC Lawsuit?

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The SEC just waved goodbye to the case against Coinbase Global Inc. (NASDAQ: COIN), and it’s expected they’ll officially confirm the dismissal by next week. And wouldn’t you know it, the Ripple Labs and XRP folks are grinning ear to ear, thinking that their case might just follow suit. Talk about high hopes. 🙄

And then, enter President Donald Trump. He’s apparently decided to chat with the Ripple Labs execs, led by Brad Garlinghouse. Maybe it’s the magic handshake that’ll finally put this whole lawsuit to bed. Earlier this week, Trump shared an article about Ripple and XRP on his social media platform, Truth Social. Guess we’ll all be waiting for the big “closure” moment. 😏

SEC vs Ripple: A Legal Drama Like No Other

Let’s rewind to December 2020, when this whole thing kicked off. The SEC was all over Ripple for allegedly raking in over $1.3 billion by selling XRP as unregistered securities. Fast forward to July 2023, and Judge Analisa Torres said, “Programmatic sales? Not securities.” But—plot twist—the big institutional sales? Those broke the rules. So, Ripple had to fork over a $125 million fine for the institutional mess, but without being told to give up any profits. A little too lucky, if you ask me. 🤨

Then in October 2024, the SEC decided to appeal. Surprise! They want XRP to be a security after all. But Ripple, not to be outdone, crossed the line and appealed the institutional sale ruling. Oh, it’s a real tug-of-war. And now, Judge Torres is holding the reigns for a year—until August 2025—to make sure things are wrapped up tight. So no, SEC and Ripple can’t just agree to toss this case unless Judge Torres says so. Not unless they’ve got her blessing, apparently. 🙄

“While the SEC could choose to drop the appeal at the Second Circuit, they would also need to figure out how to approach the district court and possibly come to an agreement on the penalty ruling (reduce or ask to drop) and presumably get Torres’s blessing as the presided,” said Eleanor Terrett, a FOX Business reporter.

With all the appeals swirling, the end of this saga might not come until mid-2025—or later. Grab your popcorn, folks. 🍿

“Ripple’s case is more complicated considering the parties have an existing ruling to contend with. I could see a scenario in which the parties seek a penalty reduction order. Aside from that, the likelihood that the case goes before the panel is now reduced greatly, in my opinion,”

— Sherrie 🌸 (@CherryEmpress21) February 21, 2025

How Will XRP Fare?

With Trump pushing for some crypto clarity through Congress and Senate, XRP’s been seeing a little more love from the markets. Some traders are caught up in the ol’ “buy-the-rumors, sell-the-news” game, speculating about what might happen next. Classic. 😅

This big-shot altcoin, boasting a fully diluted valuation of $261 billion and an average 24-hour traded volume of around $4.2 billion, just broke out of a long stretch of consolidation. But in recent weeks? It’s been stuck in a bit of a holding pattern, waiting for that glorious bullish breakout to take it into the next phase of the 2025 rally. One can dream, right? 😏

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2025-02-21 21:04