Ripple and the US SEC Settlement Still Possible, Ripple's Chief Legal Officer Says Litigation Issues Will Be Re-discussed with the Court

According to a report by Jinse Finance, the U.S. District Court for the Southern District of New York dismissed the settlement motion between Ripple and the U.S. SEC on procedural grounds. Ripple's Chief Legal Officer, Stuart Alderoty, stated that this ruling will not change the ultimate outcome of Ripple's victory (i.e., XRP not being classified as a security). Ripple and the U.S. SEC fully agree to resolve this case and will jointly revisit the litigation issues with the court. Additionally, crypto journalist Eleanor Terrett disclosed that there is still a chance for a turnaround in this case. Although Judge Analisa Torres dismissed the settlement motion, there remains an opportunity for settlement as long as Ripple and the U.S. SEC can meet legal standards and present compelling reasons that prove it is in the best interest of the public and XRP institutional buyers.