Ripple’s Legal Drama: The SEC’s Plot Twist You Won’t Believe! 😲

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In a most curious turn of events, the esteemed CEO of Ripple, Brad Garlinghouse, proclaimed with a flourish that the United States Securities and Exchange Commission (SEC) has chosen to abandon its appeal against the beleaguered company in the ongoing saga of the XRP lawsuit. Yet, dear reader, the ultimate denouement of this legal farce remains shrouded in uncertainty, for the next act is contingent upon Ripple’s own decision to either persist in its appeal or retreat into the shadows of resignation.

What’s Next in The XRP Lawsuit?

Ah, the ever-astute lawyer Jeremy Hogan, in a moment of uncharacteristic candor, took to the digital realm of X to illuminate the implications of this development, stating: “The SEC has apparently dropped its appeal, but we don’t know if Ripple agreed to the same.” A statement so profound, one might ponder if it was uttered in jest or in earnest.

Hogan elaborated, revealing that the ruling of Judge Analisa Torres stands as the most dismal fate that Ripple currently faces—a staggering penalty of $125 million, accompanied by an injunction. Unless Ripple chooses to continue its appeal, this judgment appears to be the grim baseline from which they must navigate their future.

In a display of legal acumen, Hogan delineated four potential scenarios that could unfold: First, Ripple may choose to persist in its appeal, leading to a ruling from an appellate court on the rather esoteric question of whether “investment contracts” necessitate formal contracts. Second, Ripple might opt to abandon its appeal, thus returning jurisdiction to the trial court, where both parties could engage in a futile attempt to amend the judgment.

Thirdly, Ripple could simply drop its appeal and both parties might enter into a clandestine agreement, all while the judgment remains unaltered. Lastly, in a fit of resignation, Ripple could pay the $125 million and saunter off into the sunset. Summarizing this legal labyrinth, Hogan quipped: “There are 4 possibilities left… That’s all folks!” A sentiment that echoes the absurdity of the entire affair.

Another pro-XRP attorney, Fred Rispoli, also took to X, expressing his astonishment that the SEC did not condition the dropping of its appeal on Ripple doing the same: “Wow! I cannot believe the SEC did not tie dropping its appeal to Ripple also dropping its appeal. Best explanation is that the agreement has already been made for Ripple to drop its appeal in exchange for a significantly reduced fine.” Ah, the sweet taste of conspiracy lingers in the air!

Rispoli further suggested that with the SEC’s appeal now a mere ghost of the past, Ripple finds itself in a position of considerable leverage. He posited that continuing the appeal may be an “unnecessary gamble,” citing three main reasons: The US Court of Appeals for the Second Circuit “can rule against Ripple.” Moreover, the specter of potential “federal legislation” could alter the legal landscape, rendering Ripple’s earlier defeat moot. Additionally, Ripple has asserted that it no longer engages in the specific activities deemed illegal, a claim that could be as slippery as a greased pig at a county fair.

Moreover, Rispoli pointed out the strategic element of retaining the appeal for negotiation: “Maintaining it for now IS the legal ‘consideration’ that would sufficiently justify reducing the $125M penalty in exchange for dropping the appeal.” A veritable chess game, where each move is fraught with peril and potential folly.

In conclusion, with the SEC having dismissed its appeal, all eyes now turn to Ripple’s counsel and executives, as they prepare for the next act in this tragicomedy of errors.

At press time, XRP traded at $2.49, a price that may soon be as ephemeral as the hopes of those who dare to predict the outcome of this legal odyssey.

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2025-03-21 16:14