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Court Rejects Ripple-SEC Settlement, XRP Plunges 6%

Source Tradingkey

TradingKey – A U.S. judge's rejection of the proposed Ripple-SEC deal has cast uncertainty over the case, triggering a 6% drop in XRP's price.

On Thursday (May 15), Ripple (XRP) faced sudden selling pressure, with its token tumbling over 6% before partially recovering to $2.42 at press time.

XRP Price Chart, Source: TradingView.

The sell-off followed U.S. District Judge Analisa Torres rejecting the May 8 settlement proposal jointly filed by Ripple and the SEC, citing non-compliance with Rule 60 of the Federal Rules of Civil Procedure.

The rejected agreement sought to:

- Lift an August 2024 injunction

- Release $125 million in escrowed civil penalties:

- $50 million to the SEC

- $75 million returned to Ripple

Ripple CLO Stuart Alderoty responded: "This procedural ruling doesn’t alter Ripple’s path to ultimate victory. Both parties remain committed to resolving this case and will revisit terms with the court."

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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