The American cryptography industry undergoes major changes, especially since the Securities and Exchange Commission (SEC) under the Directorate of the Trump era takes measures to reject several large -scale proceedings against large cryptography companies. However, a legal battle continues to take place – the current trial between dry and undulation (XRP).
While cases involving companies like Opensea, Robinhood, UNISWAP (UNI), Gemini, Metamask and Coinbase are rejected, the Ripple affair remains unresolved.
Meanwhile, President Trump’s recent announcement on an American strategic reserve of cryptocurrency, which includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (Sol) and Cardano (ADA), added fuel to the speculation on the market. Investors are now wondering if XRP’s inclusion in the reserve could lead to a rapid resolution of the current case, believing that the dry could soon lower its trial.
What is the next step for the Ripple trial?
Legal expert Jeremy Hogan recently talked about the delay in the Ripple case regulations, stressing a major injunction in the judgment of Judge Torres which prevents Ripple from selling directly to customers. Hogan explained that although there are bypass solutions, Ripple hesitates to violate the injunction. Once a court makes such an order, the parties involved cannot simply accept to ignore it, which makes it a difficult obstacle to overcome.
To dissolve the injunction, Ripple should request “a reparation for a judgment” under rule 60 of the federal rules of civil procedure. However, this is not a simple process, and changes in cryptographic regulations by the SEC will not automatically cancel the court’s decision. The court’s judgment, based on the Howey test, is independent of any modification of the rules that the SEC could implement.
Ripple only has one shot at getting the injunction dissolved with the trial court so it will have to draft a very carefully worded motion. That takes time and the SEC will basically have to sign off on it – more complication.
Once that is agreed to, both parties stip to dismiss…
— Jeremy Hogan (@attorneyjeremy1) March 2, 2025
However, it is possible that Ripple can solve this problem, but it would require careful legal maneuver. Hogan said the court should exercise discretion, and if Ripple and the SEC agree to request the dissolution of the injunction, this could be a strong argument. The case of Ripple could be resolved at the end of April or early May.
