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The Ripple vs. SEC lawsuit has taken a surprising turn that’s drawing fresh attention across the crypto world. A US federal judge is urging Ripple and the SEC to consider settling certain parts of their case rather than going through the long legal process. Judge Phyllis Hamilton’s suggestion comes right as Ripple gears up for a crucial appeal in January 2025 in the Second Circuit Court of Appeals.
Judge Asks Ripple to Look for Alternative Resolution
In a recent court filing, Judge Hamilton urged both Ripple and the SEC to explore an alternative solution rather than continuing through the entire legal process for specific claims. The judge proposed that they consider voluntarily dismissing certain claims without prejudice, meaning these claims could be revisited after the appeal is resolved.
Ripple, along with CEO Brad Garlinghouse and XRP II, is pushing for a final judgment to prevent further claims. The court has asked both parties to respond to this suggestion by November 4, giving them the option to either accept this path or continue with the current process.
Meanwhile, the SEC has revived charges against Ripple executives Garlinghouse and Chris Larsen, claiming XRP sales violate securities laws. The SEC aims to file its main appeal arguments by January 15, 2025, while Ripple has strengthened its legal team to fight back.
Ripple Pushes for Final Court Ruling
Lead plaintiff Bradley Sostack, representing XRP holders, along with Ripple and CEO Brad Garlinghouse, has urged the court to make a final ruling on claims that Ripple violated securities laws. They also asked to pause other state-level claims until this primary class action is settled.
A recent settlement attempt failed, prompting the plaintiffs to consider appealing the earlier judgment on XRP trades spanning six years. This individual claim centers on one buyer’s XRP purchase from January 2018.
The court scheduled a pretrial conference for December 19, with jury selection and the trial set to begin on January 21.
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Ripple-SEC Appeal Set for 2025
Ripple and the SEC’s case heads to the Second Circuit Court of Appeals in January 2025. This appeal could heavily influence the case’s outcome, as the SEC recently revived claims that Ripple executives Brad Garlinghouse and Chris Larsen violated securities laws.
Despite the ongoing legal tension, XRP remains steady around $0.52, though it has dipped 17% this month.