Ripple’s Legal Fight Continues: Judge Denies Indicative Ruling on SEC Case

In a recent legal development, Judge Analisa Torres of the US District Court for the Southern District of New York denied the joint motion filed by the SEC and Ripple Labs. This denial pertains to a request for an indicative ruling under Federal Rule of Civil Procedure 62.1. The court’s decision, which addresses procedural concerns rather than substantive aspects, maintains Ripple’s previous legal victories regarding XRP being classified as a non-security and rejects the SEC’s claim that it is a security.