According to FoxNews, a New York judge has rejected a joint settlement request from Ripple Labs and the SEC, creating significant legal headwinds for Ripple (XRP). District Judge Analisa Torres denied the request to lower Ripple's penalty and remove a permanent injunction, stating there remains a 'reasonable probability' that Ripple would continue violating federal securities laws. The judge argued that the parties, including the newly crypto-friendly SEC, did not present 'exceptional circumstances' to justify changing the court's final judgment. This decision prolongs legal uncertainty for Ripple and its digital asset, XRP, which was trading at approximately $2.2277 with a 24-hour change of -1.018%. In other news reflecting legal risks in the crypto sector, Shaquille O’Neal reportedly agreed to a $1.8 million settlement over his promotion of the collapsed FTX exchange.

According to @FoxNews, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class-action lawsuit from investors of the collapsed cryptocurrency exchange FTX. The lawsuit alleged that O’Neal misled investors through his promotional advertisements for the platform. This settlement, which is more than double the reported $750,000 he was paid for the commercial, would release him from future claims without any admission of wrongdoing if approved. For traders, this event underscores the continuing legal and reputational risks associated with celebrity endorsements in the crypto space, highlighting the importance of due diligence beyond high-profile promotions.

According to @FoxNews, Ripple is ending its long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) by dropping its cross-appeal. The announcement was made by Ripple CEO Brad Garlinghouse and follows U.S. District Judge Analisa Torres's rejection of a joint request for a revised settlement for the second time. The proposed settlement would have lowered Ripple's civil penalty to $50 million and removed a permanent injunction against the firm. Judge Torres denied the request, stating the court previously found a 'reasonable probability' that Ripple would continue violating federal securities laws. By withdrawing the appeal, Ripple accepts the original $125 million penalty and the permanent injunction remains in place. Following the news, the price of XRP saw a modest 1.4% increase, with the XRPUSD pair trading around $2.1910.

According to @iampaulgrewal, New York District Judge Analisa Torres has rejected a joint settlement request from Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The source indicates the primary reason for the rejection is the proposal to remove a permanent injunction against Ripple, with the judge finding a 'reasonable probability' that Ripple would continue violating federal securities laws. This marks the second time Judge Torres has denied such a request, even though the SEC has adopted a more crypto-friendly stance under new leadership. The proposed settlement would have reduced Ripple's civil penalty to $50 million from the original $125 million. Despite the legal setback, the price of XRP has reacted positively, with the XRPUSD pair climbing 4.63% to $2.2930, according to the provided market data.

According to @AggrNews, the long-standing legal battle between Ripple and the SEC is concluding after New York Judge Analisa Torres rejected a joint settlement proposal for the second time. The judge refused to lower Ripple's penalty to $50 million and, more importantly, remove a permanent injunction, stating there was a 'reasonable probability' Ripple would continue violating securities laws. Following the ruling, Ripple CEO Brad Garlinghouse announced the company will drop its cross-appeal, thereby accepting the original court-imposed $125 million penalty and leaving the permanent injunction in place. This move effectively ends the litigation. The price of XRP reacted with a modest 1.4% climb on the news, trading around $2.19.

According to the source, a New York judge has rejected a joint request from the U.S. Securities and Exchange Commission (SEC) and Ripple Labs to approve a settlement that would have reduced Ripple’s penalty and dissolved a permanent injunction. The source reports that District Judge Analisa Torres of the Southern District of New York highlighted the risk of future violations as the reason for the denial. The judge stated that when the court initially imposed the injunction, it found a 'reasonable probability' that Ripple would continue violating federal securities laws, and this has not changed. This ruling prolongs the legal uncertainty for Ripple (XRP), as the judge asserted the parties did not show 'exceptional circumstances' to warrant modifying the judgment. The source also notes broader industry commentary on crypto's founding cypherpunk values being diluted as firms like Ripple and Coinbase increase their political lobbying and engagement. Based on provided market data, XRPUSDT is trading around $2.1890.

According to Paul Grewal, New York District Judge Analisa Torres has rejected a joint request from Ripple Labs and the U.S. Securities and Exchange Commission (SEC) to approve a modified settlement. The proposal aimed to reduce Ripple's civil penalty to $50 million and, crucially, dissolve a permanent injunction against the company. In her ruling, Judge Torres stated the primary issue was the removal of the injunction, as the court previously found a 'reasonable probability' that Ripple would continue violating federal securities laws, and she sees no change in this situation. She argued that the parties failed to demonstrate the 'exceptional circumstances' necessary to alter the court's final judgment. This legal setback introduces continued uncertainty for Ripple's XRP token, which is currently trading around $2.18. For market context, Solana (SOL) is trading near $150.75. The judge suggested two paths forward for the parties: withdraw their ongoing appeals or proceed with an appeal, both of which would uphold the court's original findings.

According to Crypto Rover, the US SEC and Ripple have filed a joint motion to pause their appeals in order to finalize settlement terms, which is seen as bullish for XRP holders.

According to Crypto Rover, there is a rumor that Ripple may settle its ongoing case with the SEC by transferring $125 million worth of XRP to a U.S. government stockpile address. If this settlement occurs, it could potentially remove a significant legal overhang on XRP, possibly leading to increased market confidence and price stability for the cryptocurrency.

According to WallStreetBulls, the Ripple vs. SEC case is under intense scrutiny as the community eagerly anticipates a settlement or dismissal. The tweet highlights the urgency and importance of the case's outcome for XRP's future, suggesting that the resolution could significantly impact XRP's market position and investor sentiment.

According to WallStreetBulls, XRP's value has been declining as the legal battle between Ripple and the SEC continues. Both parties remain at a standoff, with the SEC halting new cases but no progress towards a settlement. This has created uncertainty in the market, impacting XRP trading as investors remain cautious without clear resolution.

According to Jake Chervinsky, the SEC's decision to withdraw from a crypto-related litigation without securing a settlement is unprecedented and signals a significant change in regulatory approach. This development could impact trading patterns and regulatory expectations within the crypto markets.

According to AltcoinGordon, he intends to settle out of court for $10 million in SOL. This settlement could potentially influence Solana's trading volumes as such a large transaction might impact market liquidity and investor sentiment. Traders should monitor Solana's order books and price movements for any significant changes following this announcement.

According to Coinbase International Exchange, any remaining open positions will be automatically settled at the time of suspension, and Coinbase reserves the right to adjust the final settlement price to a reasonable level.

According to Coinbase International Exchange, any remaining open positions will be automatically settled at the time of trading suspension. Coinbase reserves the right to suspend trading at any point and adjust the final settlement price to a reasonable level. This policy aims to ensure fair handling of trades during market disruptions.