XRP Lawsuit: Legal Expert Outlines Next Steps for Ripple and SEC following Judge’s Rejection of Settlement
Prominent attorney and cryptocurrency personality Bill Morgan has outlined the next possible steps for crypto giant Ripple and the U.S. Securities and Exchange Commission after District Court Judge Analisa Torres rejected the proposal between both parties.
On May 16, 2025, Judge Torres denied the joint request from Ripple and the SEC because it was a procedure she considered improper. Torres added that the request was also not within her jurisdiction because the case is still under appeal. However, if it was, the Judge asserted that the motion would still be denied, as it did not address Rule 60, which oversees the justification of relief requests from final judgments.
While the court’s denial focused solely on the procedure and did not hint at any disapproval of the settlement, the procedural situation has now prolonged the case.
However, attorney Bill Morgan maintains that the settlement agreement has not been rendered useless; it remains whole.
Possible case scenarios for Ripple and the U.S. SEC
The attorney added that should an indicative ruling be obtained from the Judge, both parties could file a motion to the Court of Appeals for a limited remand to seek relief agreed between Ripple and the SEC from Judge Analisa Torres.
If the limited remand is granted, both parties could file a motion with the Judge seeking the relief they initially agreed upon.
Bill Morgan further explained that with the dissolution of the injunction and the payment of the $125 million civil fine, now reduced to $50 million, both parties could file a motion with the Second Circuit Court to dismiss the Appeal and cross-appeal.
At this stage, Bill Morgan explained that another joint motion by both parties, which is considered “procedurally correct”, could be filed.
Notably, the attorney conclusively acknowledged the recent remarks made by Stuart Alderoty, the Chief Legal Officer at Ripple, who is convinced that both Ripple and the U.S. regulator will work together in court while addressing the issues raised by the Judge.
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XRP Lawsuit: Legal Expert Outlines Next Steps for Ripple and SEC following Judge’s Rejection of Settlement
Prominent attorney and cryptocurrency personality Bill Morgan has outlined the next possible steps for crypto giant Ripple and the U.S. Securities and Exchange Commission after District Court Judge Analisa Torres rejected the proposal between both parties.
On May 16, 2025, Judge Torres denied the joint request from Ripple and the SEC because it was a procedure she considered improper. Torres added that the request was also not within her jurisdiction because the case is still under appeal. However, if it was, the Judge asserted that the motion would still be denied, as it did not address Rule 60, which oversees the justification of relief requests from final judgments.
While the court’s denial focused solely on the procedure and did not hint at any disapproval of the settlement, the procedural situation has now prolonged the case.
However, attorney Bill Morgan maintains that the settlement agreement has not been rendered useless; it remains whole.
Possible case scenarios for Ripple and the U.S. SEC
The attorney added that should an indicative ruling be obtained from the Judge, both parties could file a motion to the Court of Appeals for a limited remand to seek relief agreed between Ripple and the SEC from Judge Analisa Torres.
If the limited remand is granted, both parties could file a motion with the Judge seeking the relief they initially agreed upon.
Bill Morgan further explained that with the dissolution of the injunction and the payment of the $125 million civil fine, now reduced to $50 million, both parties could file a motion with the Second Circuit Court to dismiss the Appeal and cross-appeal.
At this stage, Bill Morgan explained that another joint motion by both parties, which is considered “procedurally correct”, could be filed.
Notably, the attorney conclusively acknowledged the recent remarks made by Stuart Alderoty, the Chief Legal Officer at Ripple, who is convinced that both Ripple and the U.S. regulator will work together in court while addressing the issues raised by the Judge.
Read More