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Ripple-SEC Bid for XRP Settlement Rejected by Judge Citing 'Procedural Flaws'
Judge Analisa Torres rejected the proposed $50 million settlement, saying the joint request was filed improperly and lacked required legal justification.
Updated May 16, 2025, 4:37 p.m. Published May 16, 2025, 12:42 p.m.
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What to know:
- A federal judge rejected a $50 million settlement proposal between Ripple Labs and the SEC, citing jurisdictional and procedural issues.
- The case, involving allegations of Ripple's unregistered XRP sales, is currently under appeal.
- Ripple's Chief Legal Officer stated that the order does not affect Ripple's previous legal victories and that both parties plan to address the issue together.
A federal judge has rejected a joint request by Ripple Labs and the U.S. Securities and Exchange Commission (SEC) to approve a proposed $50 million settlement.
In a ruling issued Thursday, U.S. District Judge Analisa Torres said the parties' motion was not only outside her jurisdiction, as the case is currently on appeal, but also “procedurally improper.”
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Even if she did have authority to act, Torres wrote, the request failed to meet the standards required for modifying a final judgment. The case is already under appeal
The lawsuit, first filed in December 2020, accused Ripple of raising $1.3 billion through unregistered XRP sales.
Meanwhile, Ripple Chief Legal Officer Stuart Alderoty said in an X post that "nothing in today’s order changed Ripple’s wins."
"This is about procedural concerns with the dismissal of Ripple’s cross-appeal. Ripple and the SEC are fully in agreement to resolve this case and will revisit this issue with the Court, together," he said.
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