- Ripple faces appeals in the XRP lawsuit as plaintiffs challenge prior rulings favoring Ripple Labs and CEO Garlinghouse.
- Plaintiffs oppose Ripple’s bill of costs, seeking to defer decisions until appeals and individual claims are resolved.
- XRP price surges 400% post-Trump win, with Ripple vs. SEC lawsuit deadline looming amid regulatory uncertainties.
The plaintiffs in the Ripple class action case have filed appeals in the Ninth Circuit Appeals Court, challenging recent rulings. Lead plaintiff Bradley Sostack has appealed judgments favoring Ripple Labs, XRP II, and CEO Brad Garlinghouse. The appeals include objections to summary judgments and claims under California law. This legal move extends a case that has seen multiple rulings in favor of Ripple since October 2020.
Judge Phyllis Hamilton recently amended a prior order, affirming judgments in favor of Ripple Labs and resolving class claims. Both parties agreed to proceed with the judgment, citing no reason for further delays in the case.
Objections to Ripple’s Litigation Costs
The plaintiffs have opposed Ripple’s bill of costs in the XRP lawsuit. They filed a motion requesting the court defer its decision on the taxable costs. This request suggests waiting until the completion of pending appeals and resolution of individual claims. Ripple had submitted detailed documentation on litigation expenses, which the plaintiffs aim to challenge or reduce.
Ripple presented 65 exhibits detailing litigation costs, legal fees, and associated expenses. The opposition highlights the ongoing contention surrounding the case’s financial implications, even as class claims near resolution.
Focus Shifts to Ripple vs. SEC Case
Attention has now turned to the Ripple vs. SEC lawsuit in the Second Circuit Appeals Court. The deadline for Ripple’s principal brief is set for January 15. Speculation has arisen that SEC Chairman Gary Gensler could complicate matters for Ripple before his anticipated resignation on January 20.
XRP has witnessed significant price activity during these developments. The token surged over 400% after Donald Trump’s election victory and Ripple’s launch of RLUSD stablecoin. Currently trading at $2.42, XRP remains range-bound as the crypto community closely watches both legal proceedings.
Ripple executives remain optimistic about a positive outcome in the SEC case. Concerns persist, however, about potential last-minute regulatory actions. The legal battles continue to shape Ripple’s future and the broader crypto landscape.
