Judge Torres upheld XRP’s institutional sales ban and $125M fine, forcing Ripple and the SEC to reconsider appeals. Investors brace.
On June 26, 2025, U.S. District Judge Analisa Torres delivered a ruling that sent shockwaves through the crypto world.
She rejected a joint motion by Ripple and the SEC to amend a previous settlement, uphold a permanent injunction on XRP’s institutional sales, and maintain the full $125 million fine, delivering what many are calling a “bombshell” ruling.
What the Court Ordered For Ripple (XRP) Case
Judge Torres deemed the motion “procedurally improper,” stressing that neither Ripple nor the SEC could override a final judgment without “exceptional circumstances” — which were not demonstrated.
She upheld the permanent injunction that bars Ripple from selling XRP to institutional investors, along with the full penalty: $102.6 million in civil fines plus $19.4 million in pre-judgment interest.
Despite proposals to cut the penalty to $50 million and dissolve the injunction, the judge reaffirmed that public interest takes precedence over private deals.
XRP Market and Investor Fallout
XRP responded with a steep drop—falling about 5% in a single day—which erased roughly $2 billion in market capitalization . Technical data shows XRP testing the critical $2.00 support level, with volatility increasing as uncertainty mounts.
Still, some stabilization occurred after Ripple announced its next move.
Next Steps in the Legal Battle for Ripple (XRP)
On June 27, CEO Brad Garlinghouse announced on X that Ripple will withdraw its cross‑appeal, expecting the SEC to do the same.
That marks a significant pivot: both parties must now choose between abandoning further appeals or continuing in federal court.
If appeals are dropped, the lawsuit could formally close, though the injunction and penalty would remain in effect. Alternatively, the SEC is required to file a status update by August 15, ruling out a return to the Second Circuit.
XRP Conclusion
Judge Torres’ June 26 decision halts a premature settlement, upholds institutional sale restrictions and the $125 million penalty, and forces Ripple and the SEC to confront one of two paths: appeal or acceptance.
While the ruling intensifies short‑term pressure on XRP, it also preserves clarity for retail investors. With the legal clock ticking toward mid‑Q3 and XRP trading around key support, both market watchers and Ripple’s community should prepare for renewed developments by late summer.
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