XRP News Today: Ripple-SEC Case Drags On Amid Weak Motions, No Collusion Found

In the ongoing legal battle between Ripple and the SEC, a persistent narrative within the crypto community suggests that the lawsuit is more about controlling XRP’s price than genuine prosecution. This theory posits that Ripple is using the legal process to manage market sentiment while quietly securing international partnerships. However, this view is not universally accepted. Prominent attorney and XRP supporter Bill Morgan has refuted this claim, asserting that the idea of a staged legal war is unfounded.

Morgan, while acknowledging the slow pace of the court process, maintains that the recent motions filed by both Ripple and the SEC were weak and seemed to delay the resolution of the case. He criticized the motions for being based on "a hope and a prayer," indicating that they lacked substantive legal grounds. Despite this, Morgan firmly rejects the notion that the lawsuit is a coordinated effort to manipulate XRP’s price or market conditions.

Another well-respected attorney, Fred Rispoli, echoed Morgan’s sentiments, describing one of Ripple’s motions as "not the strongest attempt." Rispoli suggested that Ripple could have presented stronger arguments to support its case for an indicative ruling. However, both attorneys agree that the procedural choices made by Ripple do not indicate collusion or manipulation.

This year began with optimism for a resolution in the Ripple-SEC case. In March, Ripple accepted a reduced civil penalty of $50 million as part of a proposed settlement. The SEC indicated it would request the court to withdraw the injunction preventing institutional XRP sales. However, this momentum was halted when Judge Analisa Torres rejected two joint motions seeking to vacate the injunction and finalize the reduced penalty. The first motion was denied in May due to procedural errors, and the second motion was rejected in June for failing to demonstrate "exceptional circumstances."

Following these setbacks, Ripple announced it would drop its cross-appeal, with Ripple CEO Brad Garlinghouse and the XRP community expecting the SEC to do the same. Despite these developments, the case remains unresolved. The final step, which involves a formal SEC withdrawal and court filing, has yet to occur, prolonging the legal battle beyond initial expectations.

Morgan’s criticism of the weak joint motions highlights what he sees as poor legal strategy rather than deliberate suppression of XRP. He emphasizes that the delays and procedural missteps do not prove the lawsuit is a coordinated setup. Morgan’s position underscores the importance of distinguishing between frustration with the slow process and the existence of a conspiracy. The ongoing legal battle continues to be a focal point for the crypto community, with many awaiting a definitive resolution.