- Ripple Labs secures procedural court win, sparking confusion over ties to the ongoing SEC case.
- Misinformation spreads with XRP trading at $1.56 amid market optimism.
- Court approves expedited judgment, staying claims until SEC lawsuit resolution.
A California court has ruled to expedite judgment in the In re Ripple Labs Inc litigation, a procedural win for Ripple that has been misinterpreted by some as a victory in its ongoing case against the SEC.
Court Approves Expedited Judgment
In the latest California district court ruling, the judge approved modifications to the judgment and stay order in the XRP lawsuit. The court granted the request because both parties agreed to speed up the judgment while the class claims are being resolved. The plaintiff also requested an “express finding in an amended judgment” to avoid confusion and uncertainties in the final resolution.
However, a claim for relief against Ripple will be stayed until the appeals in the XRP lawsuit reach a final resolution. To lift the stay, the parties must jointly file a motion within 30 days of the final resolution.
Read also: Ripple Secures Big Legal Win, But Questions Remain on the Victory
Confusion and Misinformation Spread
After the ruling, some influencers on X and media outlets spread misinformation, claiming “Breaking: Ripple Scores Big in XRP Vs. SEC Legal War,” though the recent development is not connected to the SEC lawsuit. They misinterpreted the court filing as a push to expedite the final resolution in the SEC lawsuit. They also suggested that the case could soon reach its end, especially after the resignation of SEC Chair Gary Gensler.
This news was met with both celebration and skepticism. Many X users quickly pointed out that the California court ruling was unrelated to the ongoing Ripple-SEC case, questioning the legitimacy of the claims. Morgan clarified that the approved request to expedite the judgment is not connected to the SEC lawsuit, confirming the community’s concerns.
Despite the prevailing confusion, Ripple’s XRP token is trading in green at $1.56. The token has seen notable increases of 7% and 12% over the last 24 hours and 7 days, respectively. In a period of 30 days, XRP has recorded a massive hike of 195%.
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