In the latest development, Ripple has scored a legal victory. In the ongoing In re Ripple Labs Inc. litigation, a US court has ruled in favor of Ripple Labs, XRP II LLC and Brad Garlinghouse. This is a huge win for Ripple in the long-running case over unregistered securities sales. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on certain class claims, which limits the case and sets up a trial in January 2025.
Key Lawsuit Details
Ripple and the plaintiffs jointly filed a motion seeking final judgment on settled class claims and a pause on remaining claims while appeals are pending. Judge Phyllis Hamilton’s order specifically addresses the class action claims related to unregistered securities sales, Ripple’s potential liability as a “control person,” and alleged California securities law violations.
With this ruling, the court has scheduled a trial for January 21, 2025, while pausing previous pretrial deadlines until appeals of the class claims are resolved.
Ripple’s Push for Clarity
Ripple’s request for this final judgment aims to streamline the legal process, clarify remaining claims, and shorten the case’s timeline. The court has also encouraged both sides to consider alternative dispute resolutions, hinting that settlement discussions may be on the horizon in the coming months.
Implications of the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance the confidence in their stance against the SEC.
Especially after Trump has hinted towards regulatory clarity in the industry, and promised to fire Gary Gensler, the market anxiously awaits an action from the administration. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli had stated that while a settlement appears more realistic, however, a full dismissal might be unlikely.
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Gary Gensler To Exit Soon?
While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (MetaLawMan on X) believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.
XRP’s price remains closely tied to the regulatory clarity surrounding the token. Attorney Case Darwin agreed with a trader who noted that ‘not owning XRP during this run will be one of the biggest mistakes many will make’. He shared that people will not buy it, as the SEC appealed the district court’s decision, in which Ripple won a resounding victory. He emphasized that the BTC hype and its appeal will keep them away. XRP is currently trading at $0.7263, up over 3% in the last 24 hours.
With the stakes higher than ever, Ripple’s victory is more than a win—it’s a turning point for crypto.
