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Highlights
- Judge Torres has a 70% chance of approving Ripple-SEC joint motion.
- Ripple and SEC seek to end 4.5-year lawsuit with $125M settlement split.
- XRP holds near $2.13 as RSI at 41.18 signals bearish bias; key support at $2.00 eyed.
The XRP lawsuit has taken a new direction after Ripple and the U.S. Securities and Exchange Commission (SEC) filed a joint motion to conclude the long-running legal dispute. Attorney John E. Deaton, known for his advocacy in the XRP case, shared that there is a 70% chance Judge Analisa Torres will approve the relief being requested by both parties.
This development arrives as Ripple seeks to release $125 million in funds held in escrow. The proposed use of these funds includes a $50 million civil penalty payment to the SEC, with $75 million to be returned to Ripple. Both sides argue this resolution would save time, avoid further appeals, and close a case that has lasted over four years.
John Deaton Critiques Legal Reasoning in XRP Lawsuit
John E. Deaton responded to public comments and explained that he did not expect praise or “ass-kissing” from the parties involved. Instead, he hoped the SEC would accept some responsibility for what he described as past aggressive tactics against the crypto industry.
“I was expecting some falling on the sword by the SEC that prior leadership was overly aggressive related to crypto” Deaton said.
Deaton pointed out how another judge, Sarah Netburn, previously said that SEC lawyers “lacked faithful allegiance to the law.” He also referenced the recent Debt Box case, in which SEC attorneys faced sanctions due to their conduct. In addition, John Deaton noted that regulatory developments, like the pending Crypto Clarity and Genius Acts, could have been used to support the motion.
Concurrently, former SEC official Marc Fagel expressed concern about the SEC’s reasoning in the latest court filing. He said the agency’s reference to elections and changing policy focus is not a strong legal argument.
US SEC and Ripple Joint Motion
On Thursday, both the SEC and Ripple submitted a joint letter to the U.S. District Court for the Southern District of New York. The filing requested the release of funds from escrow to fulfill the penalty and return the remaining balance to Ripple. The motion noted that approval would avoid further appeals and save judicial resources.
According to the letter, “The parties’ proposed resolution will preserve the resources of the Second Circuit… and bring 4.5 years of hard-fought litigation to an end.” If approved, the move would formally conclude one of the most watched cases in crypto regulation.
Analysts such as Bill Morgan believe the judge is likely to approve the motion, even though the arguments may not have gone far beyond procedural language.
XRP Price Trend Amid Lawsuit Tensions
While the XRP lawsuit unfolds in court, XRP’s price remains locked in a tight trading range. Technical indicators show a consolidation pattern, with the price hovering near key support zones.
As of press time, XRP price is trading around $2.13, with major support at $2.00 and resistance near $2.50. Traders are watching the $2.00 level closely, as a breakdown could lead to further price declines, while a rebound could open the door for upward momentum.
Source: X
If XRP price falls below the $2.00 mark, it could face renewed selling. On the other hand, a bounce from this level may lead to a push toward $2.50. Moreover, the Relative Strength Index is at 41.18, showing some bearish bias, but there is still room for a price rebound.
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