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Judge Analisa Torres has denied a joint request from Ripple and the Securities and Exchange Commission (SEC) for an early ruling on a proposed $50 million settlement. The judge stated that she cannot comment on penalties while the case is still under appeal, effectively halting the deal until the appeals process is complete.
This decision does not alter the legal status of XRP. The 2023 ruling that XRP is not a security in secondary sales remains in effect. Additionally, both Ripple and the SEC continue to file motions together, indicating ongoing cooperation towards a final settlement.
Legal experts view this decision as a short-term setback rather than a significant obstacle. The ongoing debate between a $50 million and $125 million fine remains unresolved, and the legal status of XRP remains unchanged. The settlement process is still on track, with both parties working towards a resolution.
The case will now await the completion of the appeals process. Judge Torres will officially rule on penalties once the appeal is concluded. All eyes are on August 15, 2025, when the SEC is expected to file its status report, which could influence the next steps in the Ripple lawsuit.

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