XRP News Today: Ex-SEC Lawyer Clarifies Judge Torres No Longer Involved in Ripple Case

A former U.S. Securities and Exchange Commission (SEC) attorney recently clarified the current status of Judge Analisa Torres’ involvement in the ongoing Ripple (XRP) securities case. The clarification followed public speculation from crypto analyst Steph Is Crypto, who suggested that a “final court sign-off” from Judge Torres was imminent, potentially leading to a rapid rise in XRP’s price to $5 [1]. Steph Is Crypto’s comments sparked immediate debate within the digital asset community, as many interpreted the suggestion to mean that Judge Torres was still actively overseeing the case.

However, Marc Fagel, a former SEC lawyer, directly addressed the claim, stating, “Reminder: Judge Torres has nothing further to do with this case” [2]. Fagel’s response underscored the fact that the district court proceedings had concluded, and the case was now in the hands of the U.S. Court of Appeals for the Second Circuit. His statement helped dispel the notion that a final order or ruling from the district judge was on the horizon.

The broader legal developments were confirmed on August 15, when both the SEC and Ripple submitted a Joint Stipulation of Dismissal of their cross-appeals. This filing was officially reported by the Times Tabloid on August 16 [3]. According to attorney Bill Morgan, the move was largely procedural, though it could still generate speculative commentary suggesting imminent rulings from Judge Torres. Such misunderstandings have led to repeated misinformation in the crypto space, prompting some users to call for accountability in the form of penalties for accounts that consistently spread false updates [4].

The filing of the Joint Stipulation means the case is now awaiting formal dismissal by the appellate court. While this step is routine in legal proceedings, it has been misinterpreted by some as an indication that Judge Torres is still involved. Fagel’s public clarification aligns with the procedural reality, emphasizing that the district court’s involvement in the case is no longer active [5].

The exchange highlights the challenge of public discourse in legal and financial contexts, where speculative interpretations often outpace accurate information. Analysts and legal experts alike stress the need for precision in describing court actions, particularly when such developments may influence market sentiment.

As the Ripple case moves toward its formal conclusion, the role of Judge Torres has shifted from active adjudication to historical significance. The recent dismissal of appeals marks a key procedural step, but it does not involve any further action from the district judge. This clarification reinforces the importance of relying on verified legal updates rather than speculative commentary in assessing the future of XRP or related markets.

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[1] https://timestabloid.com/ex-sec-lawyer-clarifies-judge-torress-role-in-ripple-xrp-case-going-forward/