Regulation
SEC Claims Ripple ODL Sales Mirror Past Violations
Ripple vs SEC Lawsuit News: New developments have emerged in the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). According to a post on X (formerly known as Twitter) by James K. Filan, the SEC has responded to Ripple’s recent filings related to the Terraform Labs Consent Judgment.
Ripple Vs. SEC: Uncertainty Over ODL Sales Continues
XRP lawyer Bill Morgan has disclosed that the SEC accuses Ripple of engaging in practices “awfully similar” to previous violations. This ongoing dispute complicates the legal landscape for Ripple’s On-Demand Liquidity (ODL) service.
The SEC claims that Ripple’s current ODL sales practices are similar to those previously deemed violations. Despite warnings from the SEC, the court lacks comprehensive records to determine if these sales violate existing regulations. This complexity adds another layer to the intricate lawsuit between XRP and the SEC. The legal discourse is further complicated by the possibility of the SEC appealing the summary judgment issued in July.
Legal experts predict that the final judgment in the SEC Vs. Ripple Labs case could be issued in July. The SEC might also appeal Judge Torres’s ruling, which stated that XRP programmatic sales are not security contracts. This ongoing uncertainty keeps both parties on edge, with the potential for further legal twists and turns.
XRP Price Dips Amid Legal Uncertainty
Pro-XRP lawyer Fred Rispoli has forecasted a ruling by Judge Torres on remedies by the end of July or early August. He speculates that Judge Torres could issue a poetic ruling on July 13. The SEC is arguing for $2 billion in fines and penalties, while Ripple believes the penalty should not exceed $10 million. Rispoli noted that while a settlement is possible, the odds are currently at zero percent. The SEC and Ripple could still settle arguments that need to be addressed by judges in the ruling.
Despite these developments, the XRP community anticipates the lawsuit may end in the appeals court. The role of Judge Netburn remains uncertain in this context. Rispoli mentioned that Netburn and Torres could confer and determine that the issue before Netburn does not need a ruling. Judge Torres could bypass the expert witness issue and announce a final judgment on remedies and injunctions. However, this would likely only occur if the ruling favors Ripple.
The ongoing legal uncertainty has impacted XRP’s market performance. Currently, XRP price is trading with bearish sentiment, showing a price decrease of 0.43%, now exchanging hands at $0.4759. Over the past 24 hours, XRP has seen highs of $0.4808 and lows of $0.4647.
Also Read: Bitcoin (BTC) Can Underperform Stocks And Bonds for Another Three Months, Here’s Why
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The cryptocurrency market is actively discussing the U.S. Securities and Exchange Commission’s (SEC) latest acknowledgment of XRP-related Exchange Traded Funds (ETFs).
While some believe this signals XRP’s classification as a commodity, the SEC has not made an official statement confirming its status. The uncertainty has fueled speculation among investors and analysts.
Has US SEC Labelled XRP As Commodity?
On 12th February 2025, the US SEC acknowledged multiple applications for ETFs based on various cryptocurrencies, including XRP (from Grayscale and 21Shares). This acknowledgment aligns XRP with Bitcoin and Ethereum, which are widely viewed as commodities. However, the SEC did not explicitly confirm whether XRP itself falls under the same category.
Eleanor Terrett, a crypto journalist, noted in an X post that the US SEC is currently reviewing several digital asset ETFs, including those tied to XRP, Solana (SOL), and Dogecoin (DOGE). She stated,
“They have acknowledged that issuers are applying for a product that classifies XRP as a commodity asset within a securities wrapper.” While this suggests a shift in regulatory stance, the SEC has yet to provide final clarity. Ealier this week, legal expert Jeremy Hogan clarified that the Ripple vs SEC lawsuit is very unlikely to affect the XRP ETF approval procedure.
Ripple’s Lawsuit and Court Ruling on XRP
Ripple Labs has been engaged in a long-standing legal dispute with the SEC over whether XRP should be classified as a security. In a key ruling, a U.S. judge determined that XRP was not a security in secondary market transactions.
However, the court also ruled that Ripple’s direct institutional sales of XRP were unregistered securities offerings.
The SEC has paused further litigation as its crypto task force continues to evaluate the regulatory framework for digital assets. Legal experts suggest that an appeal remains a possibility, which could extend the uncertainty around XRP’s classification for years. Some analysts argue that if different courts reach varying conclusions, the case may eventually be reviewed by the U.S. Supreme Court.
XRP Market Reaction and Trading Activity
Following the SEC’s acknowledgment of XRP ETFs, XRP’s trading volume surged by 30% within the first hour of the announcement. On-chain data revealed a 29% increase in active addresses interacting with the XRP ledger. Major exchanges, including Binance and Coinbase, recorded heightened trading activity.
XRP’s price also experienced a sharp increase, reaching $2.84 on 15th February 2025, a 22% rise over five consecutive trading days.
Analysts suggest that if XRP maintains momentum and surpasses the $2.80 resistance level, it could move toward $3.00 or higher. However, if selling pressure increases, the price may consolidate between $2.60 and $2.80. However, should the bull run persists and breasches the $3.40 resistance, according to analysts Egrag crypto, XRP price may tests new all time highs of $15 to $17.
Crypto Community Awaits Regulatory Certainty
The ongoing debate over XRP’s classification has led to mixed reactions within the crypto community. Some believe that the SEC’s acknowledgment of XRP ETFs suggests a step toward recognizing it as a commodity, while others argue that the lack of explicit confirmation leaves room for further regulatory scrutiny.
Subsequently, the US SEC’s approach to XRP may also impact ongoing cases against major crypto exchanges, such as Binance and Coinbase, whose cases have already been paused by the crypto taskforce for 60 and 28 days respectively.
These exchanges have faced regulatory challenges for allegedly offering unregistered securities. If XRP is formally classified as a commodity, it could influence how similar assets are regulated in the future and ultimately push XRP price above $110.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto Czar David Sacks has confirmed that some big announcements are coming in the US crypto policy ahead. President Donald Trump signed an executive order last month asking Sacks and his team to review the possibility of Bitcoin reserve. Since then, the inter-agency Working Group has become active in working on different regulatory requirements with the US SEC and CFTC, coordinating joint efforts.
US Crypto Policy Under Coordinated Efforts, Says David Sacks
With crypto regulations taking center stage in Wahington, concerns about potential overlap among key policymaking groups are surfacing. The SEC’s crypto task force, the CFTC’s pilot program, the Presidential Working Group, and Congress’s Bicameral Working Group for Digital Assets, etc have all been in action. However, this has led to a question of whether too many cooks will spoil the show for crypto regulations.
But crypto policy experts said that there’s nothing much to worry about adding that these groups are actively coordinating efforts and working collaboratively. For e.g crypto czar David Sacks associate Bo Hines met with Hester Peirce, head of the SEC’s crypto task force, and Acting CFTC Chair Caroline Pham.
At the same time, industry representatives from the Blockchain Association and Digital Chamber of Commerce have also engaged with the task force on topics ranging from ETF staking to stablecoin regulations. Some of these representatives will also participate in a CFTC-hosted CEO forum while addressing the issue of using tokenized assets and stablecoins as collateral in the futures market. David Sacks confirmed this development stating:
“The inter-agency Working Group on Digital Assets is working well together to implement the President’s agenda. Bo Hines is doing a fantastic job as Executive Director keeping everyone coordinated. Some important announcements are coming soon”.
Additionally, as former agency staffers move into Congressional roles, they are forming closer ties. Representatives French Hill and Bryan Steil affirmed that the House’s Bicameral Working Group for Digital Assets is aligned with Senate counterparts and the Presidential Working Group in drafting legislation.
Key Decision Undertaken By Trump Administration
Following Donald Trump taking charge of the White House, his administration has been quick in introducing pro-crypto measures and reversing some of the wrongs of the previous administration.
Soon after Gary Gensler’s exit following the Trump oath-taking, the U.S. Securities and Exchange Commission (SEC) decided to repeal the controversial SAB 121 accounting rule which prevented banks from working with digital asset firms.
The Federal Deposit Insurance Corporation (FDIC) plans to update its guidelines, enabling U.S. banks to handle crypto assets and provide tokenized deposits without requiring prior regulatory approval.
In the latest development, a U.S. judge has paused the SEC’s lawsuit against Binance for 60 days to allow a new task force to review crypto regulations. A status report is expected by April 14.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Coinbase Vs SEC Lawsuit: The U.S. Securities and Exchange Commission (SEC) has requested a 30-day extension in its legal case against Coinbase. The request was made in a court filing on Friday, where the SEC mentioned that its newly formed crypto task force could help resolve the case.
This move has raised speculation about a possible settlement between the regulator and the cryptocurrency exchange.
US SEC Seeks 30-Day Delay in Coinbase Lawsuit
The US SEC’s request for an extension in the Coinbase Vs SEC Lawsuit was filed in a federal appeals court, where Coinbase had earlier appealed a district court ruling.
Judge Katherine Polk Failla previously ruled that the SEC had a valid case against Coinbase for allegedly offering unregistered securities. Coinbase then sought the appeals court’s opinion on how securities laws apply to digital assets.
The SEC stated that the crypto task force, led by Acting Chair Mark Uyeda and Commissioner Hester Peirce, could influence the case’s outcome.
“The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources,” the SEC said in its filing.
The commission asked for additional time to prepare its response to Coinbase’s appeal.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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