American Court Expedites XRP Final Judgement

Olumide Adesina•Friday, November 29, 2024•1 min read

Ripple reached a major turning point in its protracted legal battle in the world’s largest economy. An American court granted its request to expedite the XRP lawsuit’s final judgment. This ruling is a significant step in resolving a case that has plagued Ripple and its native token, XRP, for many years.

The most recent court decision has paved the way for a speedier resolution by revising an earlier ruling. Court documents show that since most of the class claims had already been settled, Ripple and the plaintiffs agreed there was no need for additional delays.

Additionally, the court granted Ripple’s request for an amended judgment to resolve any remaining doubts regarding the case’s finality. One relief claim against Ripple is still pending until the appeals process is finished.

Both parties intend to submit a motion to lift the stay Within 30 days of the appeals being decided. Ripple has demonstrated the substantial work that went into its defense by providing thorough records of its litigation expenses in the interim.

The financial watchdog took a tough enforcement stance against digital assets under Gary Gensler. Many enforcement actions have been taken against industry participants because of the SEC’s template designating different digital assets as securities.

Ripple is still hopeful, viewing these victories as a solid foundation for expansion. The XRP lawsuit’s quicker verdict demonstrates Ripple’s development and may have an impact on other cases involving the crypto industry

The future of the market is significantly influenced by the possible effects of Donald Trump’s election victory. Trump’s SEC would probably approach cryptocurrency regulation very differently, according to industry experts. The new administration may likely change the regulatory environment, resulting in less enforcement activity and more crypto-friendly laws.

Check out our free forex signals

Follow the top economic events on FX Leaders economic calendar

Trade better, discover more Forex Trading Strategies

ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.