Ripple Labs has secured a significant victory in its ongoing legal battle over unregistered securities sales. In the latest “In re Ripple Labs Inc.” case development, a U.S. court ruled in favor of Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on specific class claims, narrowing the case and setting a January 2025 trial date.This decision marks a critical milestone in the lengthy lawsuit and could fast-track its resolution.
Court Approves Final Judgment and Sets Trial Date
Ripple and the plaintiffs jointly requested a final judgment on settled class claims and a stay on remaining claims pending appeal. The court’s order addresses claims of unregistered securities sales, Ripple’s “control person” role, and possible California securities law violations. Judge Hamilton canceled previous pretrial dates and scheduled the trial for January 21, 2025, with new pretrial dates to follow any appeals.
Related article: Ripple vs. SEC: Cross-Appeal Questions Key Regulatory Standards
Ripple pursued this final judgment to expedite the case, streamline legal issues, and bring clarity to the remaining claims. This ruling moves the company closer to resolving its legal challenges while minimizing potential delays. The court also encouraged both sides to consider alternative resolutions, indicating possible settlement talks in the months ahead.
Ripple Case’s Wider Impact on SEC Lawsuit
This recent ruling strengthens Ripple’s position in its broader fight against the U.S. Securities and Exchange Commission (SEC), which accuses Ripple of selling XRP as an unregistered security in violation of federal laws. Ripple’s legal success could bolster its confidence and defense strategy in countering the SEC’s allegations.
Related article: Ripple CLO Discusses SEC Appeal Strategy and Timeline
Trump has hinted at plans for clearer regulatory guidelines for the crypto industry, including a proposal to replace Gary Gensler, sparking interest among XRP investors and market observers.
Anticipated Regulatory Changes and Market Sentiment
With Trump’s inauguration on January 20, speculation grows around Gensler’s possible resignation, potentially making way for a pro-crypto SEC chair. Pro-XRP attorney James Murphy (known as MetaLawMan on social media) and Ripple CTO view settlement or dismissal as possible outcomes. Attorney Fred Rispoli cautions that while a settlement seems feasible, a full dismissal may be unlikely. If Gensler steps down, a crypto-friendly replacement could lead to a positive shift in market sentiment, potentially driving up XRP and other cryptocurrencies.
Ripple’s recent court win, coupled with potential regulatory shifts, brings it closer to a favorable outcome in its battle with the SEC. With a trial date on the horizon and possible regulatory changes in sight, Ripple’s legal stance gains momentum.
