Ripple: Court Rejection Does Not Affect the Won Case

Stuart Alderoty, head of Ripple’s legal team, stated that the rejection by Judge Analisa Torres of the U.S. District Court for the Southern District of New York does not invalidate Ripple’s gains in the XRP case. Alderoty emphasized that the ruling confirming XRP is not a security remains valid.

Ripple had announced the conclusion of the lawsuit on March 19. However, on May 15, the court rejected the joint motion for “preliminary approval” by Ripple and the SEC due to procedural deficiencies.

Nothing in today’s order changes Ripple’s wins (i.e. XRP is not a security, etc). 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. https://t.co/vBQdBD3FNe

— Stuart Alderoty (@s_alderoty) May 15, 2025

Why Did the Court Deny the Motion?

Judge Torres pointed out that presenting the request as a “settlement approval” was not the correct approach. Particularly, requests to reduce the previously set $125 million fine and lift the injunction impose significant obligations on the court, which must be followed through proper procedures.

The judge wrote, “The parties have made no effort to meet this burden. Their submission does not even reference the applicable procedural rule.”

As noted, Ripple CEO Brad Garlinghouse had announced the case’s closure and revealed that the fine had been lowered to $50 million through the agreement with the SEC.

Uncertainty Sparks Reaction in XRP Community

Alderoty’s explanation that the court decision concerns only “procedural reasons” caused some dissatisfaction among XRP supporters. The community has called for more detailed information from Ripple regarding the issue.

Some users commented, “You said the case was closed, yet the court rejected the motion. Isn’t this misleading us?” Others stressed the need for Ripple to be more transparent both internally and externally.

Political Speculations Around XRP Also Emerge

Meanwhile, recent reports suggest that U.S. President Donald Trump was influenced by a lobby connected to XRP to announce plans to include XRP in a national digital reserve. These claims have attracted wide attention on social media.

Bitcoin advocates criticize Ripple’s proposal for a multi-token strategic reserve instead of a Bitcoin-only reserve. This has fueled debates between groups advocating for Bitcoin as the sole priority in crypto policies and those supporting a more inclusive approach.

No further statements have come from Ripple on the matter, but ongoing court developments and community reactions are expected to bring new updates soon.

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The post Ripple Issues Statement on New Court Decision: Legal Victory Remains Intact appeared first on Coin Engineer.

Ripple Labs CEO Brad Garlinghouse announced that the New York Department of Financial Services (NYDFS) has approved the company’s RLUSD stablecoin after months of evaluation.

In a post on X on December 10, Garlinghouse stated that following the NYDFS approval, Ripple will soon announce exchange and partner listings for RLUSD. The company had launched plans for this stablecoin in April, positioning it as a competitor to Tether’s USDT and Circle’s USD Coin.

Brad GarlingHouse’s tweet:

Ripple executives have predicted that the stablecoin could reach a market value of $2 trillion by 2028.

The company began testing RLUSD in August on the XRP ledger and Ethereum mainnet, and in October, it announced partnerships with exchanges such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

In September, Garlinghouse mentioned that Ripple planned to focus RLUSD on institutional players. As of December 10, the combined market value of USDT and USDC was recorded at approximately $180 billion.

How will Ripple manage both XRP and RLUSD?

Like other USD stablecoins, RLUSD will be pegged 1:1 to the US Dollar.

In April, Ripple announced plans to back the tokens with USD deposits, short-term US Treasury bonds, and “other cash-like assets.”

In June, Ripple President Monica Long stated that RLUSD would be “complementary and additive” to XRP.

Garlinghouse appeared in a 60 Minutes segment aired on December 8, discussing the cryptocurrency industry’s influence on the 2024 United States elections.

Ripple is also engaged in an ongoing legal battle with the US Securities and Exchange Commission (SEC) regarding XRP token offerings.

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Garlinghouse’s remarks left a significant mark on the crypto industry. He criticized the U.S. government’s negative stance towards cryptocurrencies, especially highlighting issues faced with banks.

Garlinghouse noted that the crypto sector is facing serious pressure in the U.S., revealing that Citigroup Inc. had ended their 25-year relationship. He mentioned that the bank gave him only five days to transfer his accounts, adding that prominent figures in the crypto industry are increasingly encountering such banking challenges.

He also shared that Citigroup officials told him that his prominence in the crypto industry had drawn greater attention from regulators.

Is the U.S. Government Creating a “Reign of Terror” in the Crypto World?

Brad Garlinghouse targeted U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and the Biden administration in his statements. He argued that Gensler’s harsh stance towards the crypto industry is negatively impacting the sector. Garlinghouse also mentioned that agencies like the SEC and the U.S. Treasury Department exhibit a “hostile” attitude toward the industry, increasing uncertainty in the crypto space.

However, Garlinghouse expressed optimism that after the U.S. presidential elections, these policies could take a more positive turn. He suggested that post-election regulations might adopt a more constructive approach toward the crypto sector.

XRP ETFs Are Inevitable

Garlinghouse emphasized that XRP ETFs would bring significant momentum to the industry and offer great opportunities for investors. He noted that this development would especially benefit crypto companies outside the U.S. and stressed Ripple’s important role in this process.

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Sources reveal that Vice President Kamala Harris’s campaign advisors have reached out to prominent individuals in the crypto space. These interactions aim to build relationships that could inform future regulatory frameworks.

Recently, to this end, the cryptocurrency exchange Coinbase, stablecoin company Circle, and blockchain payments firm Ripple Labs have been contacted. Harris’s intended message is that the Democrats support “business and responsible business.”

Harris’s rise among the Democratic presidential candidates is seen as an opportunity to reconnect with the tech sector. This follows the Biden administration’s regulatory stance, which has created some backlash in a sector traditionally inclined towards more liberal policies.

A Ripple spokesperson pointed to recent statements by CEO Brad Garlinghouse on social media. Garlinghouse urged Harris to avoid “nonsense talkers” like Representative Brad Sherman, a known crypto critic. He also cautioned against making judgments about candidates based solely on their party affiliation.

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