XRP Lawsuit Update: Judge Torres Likely to Approve Joint Motion, Says Lawyer

Attorney Bill Morgan remains optimistic about Judge Analisa Torres’ potential approval of the joint motion in the XRP lawsuit. With the Ripple case reaching a new milestone, as both parties have filed a joint motion for an indicative ruling, experts like Morgan anticipate a positive development. Despite some reservations about the motion’s content, Morgan expressed that he believes the judge will grant it nonetheless, potentially leading to a resolution in the Ripple vs SEC case.

Will Judge Torres Grant Joint Motion in the XRP Lawsuit?

In a recent X post, XRP lawyer Bill Morgan shared his thoughts on the possibility of Judge Analisa Torres approving the joint motion. Though Morgan expressed disappointment with the motion’s content, he remains optimistic about the Judge’s response. His post read,

Just reading today’s Ripple and SEC joint motion to judge Torres over lunch. It does not become stronger and more impressive the more you read it. I just have a feeling she’s going to grant the motion anyway.

On June 12, Ripple and the SEC jointly requested a Manhattan District Court to lift the injunction in their prolonged legal dispute. They also requested to release the $125 million civil penalty from escrow. According to the settlement proposal, $50 million would go to the SEC. The remainder would return to Ripple, effectively resolving the ongoing appeal and cross-appeal cases.

Join Motion’s Fate Holds Key to Ripple vs SEC Case Settlement, Why?

Bill Mogan, in another X thread, highlighted the significance of the latest development in the XRP lawsuit. He asserted that Judge Torres’ decision on the joint motion is pivotal to the final settlement of the Ripple vs SEC case. “The fate of the current joint motion is very important,” noted Morgan. This comes after Morgan previously predicted a significant update in the Ripple case before June 16, which has now come to fruition.

Further, Morgan provided insights on the joint motion, highlighting that “relief from the judgment is a ‘necessary condition of settlement.’” He stated that both parties cited precedents where exceptional circumstances justified modifying a judgment to enable settlement and avoid pending appeals.

Moreover, Morgan noted that if Judge Torres rejects the motion, the settlement would be contingent on an unmet condition. Then, the settlement agreement would not be able to be performed. Morgan added that if the motion wasn’t allowed, there would be no settlement, and the appeal and cross-appeal would continue. He also pointed out that despite influencers claiming the case was over, the fate of the current joint motion was pertinent.

If the motion is not allowed and the settlement agreement is not varied or a new settlement agreement entered, then there is no settlement and the Appeal and Cross-appeal would continue.

Experts Remain Disappointed

In line with Bill Morgan’s dissatisfaction with the motion’s content, lawyer Fred Rispoli shared his disappointment. He commented,

In the newest saga of SEC v. Ripple, I don’t like this filing based on how obvious it was from Judge Torres’ last ruling that she was pissed. I recommended a long, detailed motion explaining the SEC’s failures in crypto regulation (with Commissioner declarations) and some apologies from Ripple for what it got tagged on. Instead, we got one paragraph on the other SEC dismissals and a paltry mention of the SEC crypto task force.