A new court decision in the ongoing Ripple vs. SEC case is to be expected soon, but it may not shake up the legal status of XRP as many had hoped. The anticipated ruling from Judge Analisa Torres is stirring speculation within the crypto space, especially over its potential to impact digital asset classifications. However, attorney Bill Morgan says that belief is simply wrong.
Morgan clarified that the upcoming decision is not about defining whether XRP is a security. Instead, it focuses on whether the penalties against Ripple should be reduced and if the injunction should be lifted. “This is incorrect,” Morgan said in a post on X, directly responding to claims made by crypto influencer John Squire.
Ripple and the SEC recently filed a second joint motion asking the court for an indicative ruling. Their first attempt was denied. This second try also does not challenge the court’s previous ruling.
As noted in the filing, “The public interest in preserving the Court’s substantive rulings on the merits of the SEC’s claims will not be impaired because the Summary Judgment Order will remain in place.”
That means the earlier decision, that XRP’s programmatic sales are not securities, will not be changed. In fact, both Ripple and the SEC agree that the Summary Judgment Order should stay intact. They are not asking the court to revise, cancel, or modify it. The order will still apply to both parties under legal principles known as claim and issue preclusion.
Despite the buzz around the case, there’s no set date for Judge Torres to rule. Former SEC attorney Marc Fagel noted on X, “The court has no fixed deadline for a ruling… It could happen in the next day, next week, next month, whenever.”
While the XRP community waits for Judge Torres to speak, legal experts continue to stress that the current motion deals with process, not policy. It’s not a ruling on whether XRP is a security or not. As Morgan put it, the decision “will not be a ruling that will redefine the status of digital assets in the US.”
So, for now, XRP’s legal classification remains untouched. The crypto world might have to wait a bit longer for any big regulatory shake-up.
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