Ripple Secures Court Approval for Expedited Final Judgment in XRP Lawsuit
Ripple Labs has achieved a significant victory in the ongoing XRP lawsuit, with a U.S. court granting approval to expedite the issuance of a final judgment in the case. This decision marks a crucial step towards resolving the longstanding legal battle that has had a significant impact on Ripple and its native cryptocurrency, XRP.
Court Accelerates Resolution Process
The recent court ruling represents a positive development for Ripple, as it has amended a previous decision to facilitate a faster resolution. Both Ripple and the plaintiffs reached a mutual agreement that there was no need to delay the judgment, as most class claims had already been settled.
However, the court also approved Ripple’s request for an amended judgment to address any uncertainties surrounding the finality of the case. While the judgment is moving forward, one claim against Ripple remains on hold until the appeals process is concluded.
It is expected that both parties will file a motion to lift the stay within 30 days once the appeals are resolved. In addition, Ripple has submitted detailed records of litigation costs, highlighting the extensive efforts put forth in its defense.
Timeline of Ripple Vs. SEC Lawsuit
This recent victory follows Ripple’s previous success in its legal battle with the Securities and Exchange Commission (SEC), which continues to influence regulatory discussions within the United States. Pro-XRP lawyer Jeremy Hogan has suggested that the SEC case could potentially come to a close by mid-2025, particularly if there are changes in leadership at the SEC.
Ripple’s leadership remains optimistic about the future, viewing these legal victories as a strong foundation for the company’s growth. The expedited judgment in the XRP lawsuit showcases Ripple’s progress and could set a precedent for other cryptocurrency-related cases.
XRP Experiences Price Surge
In recent developments, XRP surged to a three-year high of $1.63 following the announcement that SEC Chair Gary Gensler intends to step down on January 20, coinciding with the beginning of President-elect Donald Trump’s second term.
Although the price has slightly declined to $1.46, XRP still recorded a notable 30% increase over the past week. Market analysts are optimistic about XRP’s future, with some predicting that the cryptocurrency could potentially surpass its previous all-time high of $3.38 by the end of the year.
With these recent legal victories and positive market trends, Ripple and XRP are poised for further growth and success in the cryptocurrency industry.