XRP Price Declines by 5% as a Reaction

Summary

• After the XRP community celebrated the conclusion of its legal battle with the SEC, Judge Analisa Torres has dismissed the joint request for an indicative ruling regarding their settlement.
• XRP’s valuation experienced an immediate decline, though Ripple’s Chief Legal Officer indicated that the company remains unconcerned.

Judge Torres Dismisses Motion

The latest development in this ongoing saga, which began in late 2020, was reported on May 15. The court filing indicates that Judge Torres of the Southern District of New York has rejected the motion, citing that it is “procedurally improper” since both parties did not correctly submit it under Rule 60.

This motion was submitted on May 8, as both parties concurred to reduce the penalty from the originally mandated $125 million to $50 million.

In her ruling, Judge Torres highlighted the failure to adhere to proper court filing protocols and stated:

“If jurisdiction were to be restored to this Court, the Court would deny the parties’ motion as procedurally improper.”

Stuart Alderoty, Ripple’s Chief Legal Officer, who stated in late March that the lawsuit was essentially resolved after both sides opted not to appeal, commented that the ruling affects “nothing” concerning Ripple’s victories (i.e., XRP is not classified as a security, etc.).

He pointed out that the denial was solely related to procedural issues and emphasized that the SEC and Ripple are “completely aligned in resolving this matter and will bring this issue back to the Court together.”

Today’s order does not alter Ripple’s victories (i.e., XRP is not a security, etc.). This situation pertains to procedural issues regarding the dismissal of Ripple’s cross-appeal. Ripple and the SEC are in full agreement to resolve this matter and will collaboratively revisit this issue with the Court.

— Stuart Alderoty (@s_alderoty) May 15, 2025

XRP Value Declines

Earlier this week, Ripple’s cross-border token peaked at approximately $2.7 but faced immediate selling pressure, dropping to $2.5. The rejection of the court’s motion led to another decline, bringing the price down by over 5.5% at one point to $2.36.

Since then, it has regained some territory and now holds above a crucial support level near $2.38, though it is still roughly 5% down for the day, while Bitcoin has managed to rebound, hovering near $104,000.