Sagaの‌価格SAGA

Beyond the Headline: Why Judge Torres's Recent Ruling Does Not Alter XRP's Non-Security Status, As Ripple Reaffirms Its Legal Standing. The legal saga surrounding XRP and Ripple Labs continues to be a central narrative in the cryptocurrency world, often shaping market sentiment. In the past 24-48 hours, a significant development occurred as a U.S. District Judge denied a joint motion from Ripple and the SEC. While this news caused a slight ripple in XRP's price (currently around $2.08 - $2.10 USD as of June 27, 2025), Ripple has swiftly and unequivocally reaffirmed XRP's legal status as not a security, underscoring that this procedural setback does not negate its fundamental victory. This steadfast stance is crucial for maintaining regulatory clarity and investor confidence in the digital asset. 1. The Recent Ruling: A Procedural Denial, Not a Substantive Reversal On June 26, 2025, Judge Analisa Torres of the U.S. District Court for the Southern District of New York denied a joint motion filed by Ripple and the U.S. Securities and Exchange Commission (SEC). This motion sought an "indicative ruling" to: Lift the permanent injunction preventing Ripple from conducting direct institutional sales of XRP. Reduce the civil penalty imposed on Ripple from $125 million to $50 million. Judge's Rationale: Judge Torres explicitly stated that the parties "had not come close" to demonstrating the "exceptional circumstances" required to modify a final judgment. She emphasized that private agreements cannot supersede public court decisions and that the public interest in securities enforcement outweighs private settlement terms. This means the injunction on institutional sales remains, and the $125 million penalty still stands, pending further legal action. Market Impact: The news led to a minor immediate price dip for XRP, reflecting market sensitivity to any perceived legal headwinds. XRP saw a slight decline of around 0.83% in the last 24 hours. 2. Ripple's Immediate Reaffirmation: "XRP's Legal Status Remains Unchanged" Crucially, Ripple Labs, through its Chief Legal Officer Stuart Alderoty, promptly addressed the ruling, emphasizing that it does not undermine XRP's core legal classification. Alderoty's Statement: In a public statement on social media (X, June 26, 2025), Alderoty swiftly reassured the community and stakeholders: "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." He further stressed, "Either way, XRP's legal status as not a security remains unchanged. In the meantime, it's business as usual." The Unshaken Core Victory: Alderoty's statements reinforce the pivotal July 2023 ruling by Judge Torres, which determined that XRP itself is not a security when sold on public exchanges (programmatic sales). This fundamental distinction is key. The current denial pertains specifically to the terms of a settlement regarding past institutional sales (which were deemed unregistered securities offerings), and not to the broader classification of XRP as a digital asset. Procedural Path Forward: The ruling means that the SEC's appeal and Ripple's cross-appeal, currently on a 60-day pause until August 15, 2025, are now more likely to proceed if a new settlement is not reached. Ripple now has the option to either dismiss its cross-appeal (which challenged findings on historic institutional sales) or press forward with it in the higher courts. Ripple's swift and clear communication aims to prevent misinterpretations and maintain confidence, asserting that the underlying legal foundation for XRP as a non-security remains robust. 3. Broader Implications for Regulatory Clarity and Market Confidence The denial of this specific motion, while a procedural hurdle, doesn't derail the broader trajectory of XRP's market legitimization. Unchanged ETF Prospects: Legal experts like Fred Rispoli noted that this injunction does not affect XRP's status in secondary markets or directly impact potential Spot XRP ETF filings awaiting approval by the SEC. The approval odds for a US Spot XRP ETF (currently around 95% by Bloomberg analysts) primarily hinge on the underlying classification of XRP as a non-security in the spot market, which Judge Torres's 2023 ruling affirmed. Industry Precedent: Ripple's prolonged legal battle has inadvertently served as a critical case study for the entire cryptocurrency industry. Each ruling, even procedural ones, contributes to shaping the future regulatory landscape for digital assets, setting precedents for classification and enforcement. Retail Market Unaffected: As Ripple reiterated, the ruling does not impact XRP's trading on retail platforms. This compartmentalized nature of the legal challenge allows the retail market to continue operating freely, reflecting strong underlying market confidence. Continuous Business Operations: Ripple continues its global operations, expanding its On-Demand Liquidity (ODL) network, fostering XRPL ecosystem growth, and pursuing new partnerships (like with Wormhole for an XRPL EVM Sidechain), demonstrating business continuity despite the legal complexities. Conclusion: XRP's Foundation Remains Strong The recent decision by Judge Torres to deny the joint motion in the SEC vs. Ripple lawsuit, while a procedural setback, does not fundamentally alter the core legal status of XRP as reaffirmed by Ripple. The crucial ruling that XRP is not a security for programmatic sales remains intact, providing a bedrock of clarity for its future. Ripple's swift response and unwavering assertion of XRP's legal status underscore its confidence in navigating the remaining legal complexities. As the crypto market continues to evolve, the ongoing ETF momentum, coupled with robust ecosystem growth, suggests that XRP is firmly positioned for broader mainstream adoption. Despite the legal detours, the fundamental case for XRP's utility and its clarity as a non-security in secondary markets stands strong, guiding its path forward. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.

RT @DisneyPinnacle: 🌠 Some fan favorites are back, and they're as stunning as ever! Inspired by a galaxy far, far away, Star Wars Saga Vol…

RT @0xexodia: After diving deep with Dem on all things $ANIME, I’m convinced we’re still on page one of a saga whose later chapters will ri…

RT @Tradermayne: The Middle East Saga is Over. What's next for Bitcoin?

$SAGA Saga 计划在今年第三季度在其 SagaEVM 上推出官方授权的 Liquity V2 部署。该协议将支持 BTC、ETH、SAGA 及其他生态资产作为抵押，铸造本地稳定币，将进一步实现以下功能： · 借款人收益大部分返还给稳定币用户； · 全链上清算与赎回机制； · 支持用户自定义利率； · 与 Steer Protocol