XRP vs SEC: Four Trials Left Before Ripple’s Ball at the Crypto Palace!

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After what feels like a saga worthy of inclusion in one of my own three-volume novels, the United States Securities and Exchange Commission (SEC) has at last taken up its pen — not for a duel, though one could be forgiven for thinking it so — and sent forth a Settlement Agreement Letter in its lengthy quarrel with Ripple Labs. Upon this occasion, the XRP community is positively fluttering with delight, as if the marriageable Colonel has finally proposed. Yet, wise observers caution; the business is far from concluded, and we ought not pop the claret just yet! 🍷

Learned counsellor, Mr. James K. Filan, remarks that despite amicable agreement between the aggrieved parties, one must still await the wisdom and discernment of Judge Analisa Torres. The lady must be satisfied that the settlement is not merely fashionable, but also beneficial to the public — a matter not to be undertaken lightly. Only then will this romantic comedy, with all its misunderstandings and unwanted suitors, receive its much-desired denouement.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The @SECGov has filed the Settlement Agreement Letter.

— James K. Filan (@FilanLaw) May 8, 2025

Four Ordeals Remaining: As Delightful as English Weather ☔

My dear reader, you will find that even with settlement upon the table, Ripple has not yet arrived at Pemberley. Listing, with all the precision of an anxious mother’s itinerary, are the remaining steps to victory:

  1. First, Judge Torres must peruse the settlement and decide whether to lift her previous injunction, liberate the escrowed funds (with a handsome £50 million sum going to the SEC as a sort of dowry), and bestow the remainder back to Ripple.
  2. Should the Judge deem it agreeable, both parties will parade themselves before the esteemed Second Circuit Court of Appeals, humbly petitioning for a limited remand — a rare legal dance step — returning our plot to Judge Torres for a final flourish.
  3. If all goes smoothly, the parties will submit a joint motion for the actual unshackling of injunctions and distribution of funds, hoping for no last-minute elopement or wayward cousin.
  4. At long last, with each party properly satisfied or at least resigned, they will implore the Court of Appeals to pen the final chapter: dismissing any lingering appeals, sealing the saga with a legal “happily ever after.”

The XRP Assembly: Pride, no Prejudice, and Possibly 80,000 Wallets 💰

Another distinguished legal mind, Mr. Bill Morgan, draws our attention to a most singular fact — that almost the entire circle of those affected are holders of XRP. Indeed, more than 80,000 denizens have joined hands with the eminent Mr. John Deaton to air their collective grievance, and not a single soul, as far as records show, has thrown their lot in with the SEC. If that is not a triumph of polite society, I do not know what is.

The settlement process that has happened in SEC v Ripple over the last several weeks and will continue over the next few months is apparent from the details of the rule 62.1 motion filed today asking for an indicative ruling from Judge Torres.

1. Settlement agreement signed by…

— bill morgan (@Belisarius2020) May 8, 2025

Mr. Morgan is quietly confident — is that not the most shocking quality among barristers? — that such ardent public support may persuade our Judge to lift the injunction and allow a fine of $50 million to do penance for Ripple’s supposed indiscretions. An expensive lesson, but likely less troublesome than a failed engagement.

Is the Judge the Heroine or the Villain? 🎭

XRP’s fans, much like guests at a country dance, whisper and speculate. Some, with the optimism of a well-chaperoned ball, believe Judge Torres will sign and seal the settlement. Others, seasoned by long acquaintance with unpredictable chaperones (and U.S. regulators), prepare for disappointment. The redoubtable Mr. Marc Fagel, late of the SEC, suspects Judge Torres’ views on Ripple’s institutional sales may survive scrutiny from the sternest appellate halls. If the settlement should fail, neither fortune nor Fagel can predict whether the SEC shall continue the pursuit.

Still, hope springs eternal in the XRP salon. Whether propelled by the shifting opinions of America’s regulatory guardians, or Ripple’s newfound confidence in the province of appeals, many believe the company shall yet carry the day. And if not, at least the next chapter promises some excellent correspondence and much sighing over tea. 🍵

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2025-05-09 05:53