What Does US Judge's Rejection of SEC-Ripple Agreement Mean? Will XRP Become a Security Now? Ripple CLO Announced!

Just when the long-standing $XRP lawsuit between Ripple and the US Securities and Exchange Commission (SEC) was about to end, a new development occurred.

The SEC and Ripple’s jointly submitted $50 million settlement request was rejected by Judge Analisa Torres on procedural grounds.

While the rejection of the agreement request by the US judge raises questions about the legal status of $XRP, Ripple Chief Legal Officer Stuart Alderoty made an assessment of the decision.

Stating that Judge Analisa Torres’ rejection decision will not affect the legal status of $XRP, Ripple CLO said that the July 2023 decision that $XRP is not a security is still valid.

“Today's decision does not change Ripple's earnings (i.e., that $XRP is not a security, etc.).”

Despite the rejection from the court, he emphasized that Ripple and the SEC's agreement on the sale of $XRP to the public is valid and they are still in harmony in resolving the matter.

Stating that the court’s rejection decision was procedural, Ripple CLO said:

“Ripple and the SEC fully agree to resolve this case and will revisit this matter with the court.”

*This is not investment advice.