XRP News: American SEC Rejects Justin W. Keener's Emergency Plea in Ripple Case

Bittime - The long-running legal case between Ripple Labs and the United States Securities and Exchange Commission (SEC) has finally officially ended. This news was confirmed directly by Ripple CEO Brad Garlinghouse, who announced that the long-standing legal battle has now been resolved. However, while this news sparked euphoria among Ripple supporters and the crypto community in general, the price of XRP does not appear to have responded in proportion.

The sluggishness of the XRP price after the announcement gave rise to new speculation among investors and XRP fans. Many are now waiting for an official statement from the SEC to provide further clarity regarding the regulator's position on Ripple and the future of XRP in the crypto market.

The Appearance of an Emergency Appeal from Justin W. Keener

In the midst of this questionable situation, an interesting development emerged. A man named Justin W. Keener surprisingly filed an emergency petition with the court in the case of SEC vs. Ripple. In his application, Keener expressed a desire to present "decisive evidence" that he claimed supports the position of the defendants, in this case Ripple, as well as for the freedom of the American people.

However, Keener's letter of application raises more questions than it answers. He did not specify clearly what the content of the evidence in question was or how this evidence could strengthen Ripple's position. Keener only stated that the evidence related to physical investment contracts he had collected, but the details were still sketchy.

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SEC's Firm Response to Keener's Application

The SEC's response to this request was firm. According to a report from Fox Business journalist Eleanor Terrett, the SEC asked the court to reject Keener's application. The regulator emphasized that the request was irrelevant because the district court that previously handled this case no longer had jurisdiction, considering that the case had moved to the Second Circuit Court of Appeals.

Additionally, the SEC also highlighted that Keener did not follow proper procedures by failing to file a formal motion to intervene in the case. Furthermore, the SEC argued that this request was unnecessary because Ripple had the legal capacity to independently assess whether the evidence submitted by Keener would indeed be beneficial or not.

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Application Denied, Community Focus Shifts to XRP's Future

In its conclusion, the SEC urged Judge Analisa Torres to completely deny Justin W. Keener's emergency request. The SEC considers that the request does not have a strong legal basis and will not affect the final outcome of this decided case.

With the SEC's position becoming clearer, XRP fans are now turning their attention back to potential new developments that could lift the price of XRP. Even though Ripple's legal steps have been completed, Ripple and its community still have a long way to go in the global crypto market.

FAQ

1. Does Justin W. Keener's emergency appeal impact the outcome of the Ripple case?

No. The SEC has asked the court to reject Keener's application because the case is over and Keener did not follow proper legal procedures.

2. What is the content of evidence mentioned by Keener in his application?

Keener claimed to have physical investment contracts supporting Ripple, but he did not clearly detail the content or impact of that evidence.

3. Will the price of XRP increase after the Ripple case ends?

Not significant. Even though the Ripple case is officially over, XRP prices are still moving flat as the market waits for further clarification from the SEC.

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Reference

Coinpedia XRP Lawsuit News: SEC Opposes Emergency Request for ‘Decisive Evidence’ in Ripple Case, accessed April 9, 2025.

Author: MF